Ballard, Seattle Real Estate Update

Buying or selling homes for sale in Ballard, Seattle? In our current, competitive market, this is an exciting time for both buyers and sellers. Buyers have the potential of owning a property in one of the hottest neighborhoods in Seattle while sellers stand to make a substantial return on investment. In order to successfully achieve your real estate goals, you have two tasks you need to do before you can get started. The first task is finding a Ballard, Seattle Realtor. We guide you through the experience using our professional experience, while also educating you on what is happening in the Ballard, Seattle Real Estate Market. When you align yourself with a professional, qualified Ballard, Seattle Realtor who has a proven track record, you can rest assured knowing you have someone who will be by your side throughout the entire transaction and beyond. The other perk to working with a Ballard, Seattle Realtor who knows this area is you know what exactly is happening in the Ballard, Seattle Real Estate Market. Using details like average and median sold prices for homes for sale in Ballard, Seattle, along with the month supply and days on market can work to your advantage. As a seller, knowing the average and median sold price helps you to price your property according to market value. This helps you sell quickly while attracting multiple offers. As a buyer, you can find out the necessary details that help you put together an offer that stands out in our competitive market, which is crucial right now seeing as most homes are getting multiple offers. So how is the Ballard, Seattle Real Estate market doing? Let’s take a look!

As far as the average and median sold prices for homes for sale in Ballard, Seattle goes, prices are up. The average is up 13.7% from this time last year at $766,103. The median sold price is up 11.1% at $750,000. The average percentage of list price for this neighborhood is at 106.1%. In a nutshell, this number indicates your negotiation power. It also tells us that Ballard, Seattle homes for sale are going for over asking. Your realtor in Ballard, Seattle will further explain how you can use this number to your benefit when it comes to making or accepting an offer.

As far as inventory in this neighborhood is concerned, the amount of Ballard, Seattle homes for sale is down 22% while the amount of new listings is down 11.6%. Closed sales are down 9% and pending sales are down 15.2%. This is not great news for buyers, however, this is all a result of a low month supply. This number is down from this time last year by 20% at 0.4. This number tells us that this neighborhood basically has close to no inventory. Which is not a huge surprise seeing as it is one of the most desirable areas in Seattle. To better understand the importance of what month supply means, it tells us who has control of the Ballard, Seattle real estate market. Anything less than 4 is a seller’s market while anything over 6 is considered balanced. Your realtor in Ballard, Seattle will be able to share what this number is as it changes with the market. Both the average and median days on market are down. The median days on market for Ballard, Seattle homes for sale is 7 while the average is down to 11. Sellers, be prepared to move fast and buyers, “blink and you’ll miss it”, aka if you see a home you like, write an offer immediately. Waiting even an hour could put you out of the running.

If you are looking for a Ballard, Seattle Realtor or Ballard, Seattle homes for sale, feel free to give me a call. I would be happy to help!