Ballard, Seattle Real Estate Update

If you are buying homes for sale in Ballard, Seattle, you should know you are entering a very competitive market and that things are moving at record speeds. Same advice goes for sellers. This popular area is sought after by buyers and Ballard, Seattle homes for sale are moving very quickly. Regardless of what side of the transaction you are on, working with a qualified Ballard, Seattle realtor is crucial. We work to not only guide you through the entire process, but also work as your advocate in getting you the best deal and helping you navigate any problems that could arise. Another important way to prepare yourself is by understanding the current market conditions. This includes details like days on market, average and median sold price and more. These numbers help buyers understand their competition while sellers get a good idea of what to price at. The best way to get this information is from a Ballard, Seattle realtor. Working with someone who knows this area is incredibly important. So how is Ballard 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 AND last month. The average sold price for Ballard, Seattle homes for sale is up 21.2% at $748,578. The median is up 21.5% compared to this time last year at $747,500. The price per square foot is up 11.1% at $522 while the percentage of list price is up 2.4% at 106.2%. This number indicates your negotiation power and tells us that Ballard, Seattle homes for sale are getting well over asking price in most situations. 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. Especially with the month supply being down 20% compared to this time last year with a .40 month supply. To put this in perspective, anything less than 4 months is a seller’s market and a balanced market needs 6 months. As we already know, the Ballard, Seattle real estate market has an incredibly low month supply. The amount of Ballard, Seattle homes for sale has decreased by 25%. New listings are down 8.5% while pendings are down 5.2% and closed sales are down 11.2%. 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.