Ballard, Seattle Real Estate Update

If you are buying homes for sale in Ballard, Seattle, you really don’t have time to “think about it” when it comes to making an offer. Same goes for sellers. This popular area is considered very desirable for buyers and Ballard, Seattle homes for sale are moving quickly. Preparing your property in advance can save you from rushing to move. Regardless of what side of the transaction you are on, knowing the stats for this area is crucial as they can guide both sides towards a successful experience. The best way to get this information is from a Ballard, Seattle realtor. Working with someone who knows this local market is so necessary. So how is this area looking? Let’s check out the numbers!

The average and median sold prices for homes for sale in Ballard, Seattle have both gone up compared to this time last year. The average has gone up 17.9% at $754,997, up from last month as well. The median sold price on the other hand has gone up 15.9% compared to this time last year at $715,000. This is actually down from last month. This is the same story with the price per square foot. It is up 15.5% compared to this time last year but it is actually down compared to last month from $517 to $463. The percentage of list price is up 1.8% at 106.3%, up from last month’s 105.9%. The percentage of list price is a fabulous tool for figuring out what your negotiation power is. In this case, we know that most homes, on average, are getting over asking.

As far as inventory goes, the numbers have continued to decline, which makes it hard for buyers. This, however, is par for the course in this market, especially for such a popular neighborhood. The amount of Ballard, Seattle homes for sale has gone down 21.9%. The amount of new listings are down 3.4% & pendings are down 2.2%. This is all due to the low month supply. Ballard, Seattle real estate has a .50 month supply. A balanced market requires a 6 month supply and anything less than 4 is considered a seller’s market. If you are looking in this neighborhood, give me a call. As an experienced Ballard, Seattle realtor, I would be more than happy to act as your advocate as you buy or sell in this Seattle neighborhood.