Seattle real estate is one of the hottest markets in the country right now. Due to the Amazon boom, there are certain long time established neighborhoods that have become highly sought after thanks to close proximity to good schools, great restaurants and popular city attractions. One of those neighborhoods is Ballard, Seattle. If you are buying homes for sale in Ballard, Seattle, you should know you have to move fast. Same goes for sellers. This popular area is considered very desirable for buyers and Ballard, Seattle homes for sale are moving quickly. Regardless of what side of the transaction you are on, knowing the numbers for this area is crucial as they can guide both parties 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 incredibly important. So how is this area looking? Let’s check out the numbers!
The good news for sellers is that the average and median sold prices for homes for sale in Ballard, Seattle are both up compared to this time last year. The median sold price for Ballard, Seattle homes for sale is up 25.6% at $738,800 and the average is up 24.1% at $737,147. The price per square foot has also gone up 9.1% at $517. The percentage of list price is up 2.3% at 105.9%. This last number indicates your negotiation power and also shows that homes for sale in Ballard, Seattle are going, on average, over asking price. Interestingly, while these prices are up and beyond the national average, this is actually less compared to nearby areas like Queen Anne & Magnolia. Once again, I stress the importance of using a qualified Ballard, Seattle realtor if you are looking to buy in this area OR looking to sell.
Inventory wise, the numbers have gone down. The amount of Ballard, Seattle homes for sale has decreased by 26.9%. The amount of new listings are down 6.3% while pendings are down 5.5%. This is all due to the incredibly low month supply. Ballard, Seattle real estate has a .40 month supply. A balanced market requires 6 months and anything less than 4 is considered a market that is in favor of the seller. 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 area.