Ballard, Seattle Real Estate Update

Thinking of buying or selling real estate in Ballard, Seattle? You have come to the right spot. Not only is Ballard one of the most sought-after neighborhoods, but it is also one of the higher priced areas thanks to low inventory and high demand. If you are thinking about buying homes for sale in Ballard, Seattle, be prepared for competition and crafting an offer that will stand out above the rest. Sellers, be prepared for a quick sale and organize your property and your move accordingly. Regardless of whether you are buying or selling Ballard, Seattle homes for sale, knowing what is happening in the neighborhood’s market is crucial as this information can guide both sides towards a good experience. The best way to get this information is from a Ballard, Seattle realtor. Working with someone who knows this area is so necessary. 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 AND just last month. The median sold price for Ballard, Seattle homes for sale has gone up 13.6% at $749,950 and the average sold price has gone up 15.2% at $758,932. The average price per square foot is up 15.5% currently at $543. The percentage of list price is still 106.1%. This number is important as it gauges your negotiation power is. It also tells us that homes for sale in Ballard, Seattle are going for over asking price in most scenarios.

For inventory, that has continued to go down across the board. The amount of Ballard, Seattle homes for sale has decreased by 17.4%. New listings have decreased by 6.8%, pendings have decreased by 9.3% and closed sales have decreased by 5%. This is all due to low inventory as Ballard, Seattle real estate has a .40 month supply. With a balanced market requiring 6 months and anything less than 4 being considered a seller’s market, we clearly know what kind of market we are in. If you are looking in this neighborhood, give me a call. I would be happy to help!