Ballard, Seattle Real Estate Update

If you are in the market for buying or selling homes for sale in Ballard, Seattle, you have two tasks you need to do to get started. The first task is finding a Ballard, Seattle Realtor. We guide you through the experience using our professional expertise, while also educating you on what is happening in the Ballard, Seattle Real Estate Market. One of the many perks 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 give beneficial insight. As a buyer, you can find out the necessary details that help you put together a competitive offer. 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. 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 12.3% from this time last year at $779,028. The median sold price is up 10.2% at $775,000. The average percentage of list price for this neighborhood is at 105.5%. This number indicates your negotiation power as well as tells us that Ballard, Seattle homes for sale are going for over asking.

 

The amount of Ballard, Seattle homes for sale is up 15.8% while the amount of new listings is down 9.5%. Closed sales are down 19% and pending sales are down 18%. The month supply is currently 0.5 which is the reasoning for these decreases. This number tells us that this neighborhood has close to no inventory. 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.

 

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! For more market reports, visit our team site at www.teamshutes.com

Posted on August 12, 2018 at 2:19 am
Molly Shutes | Category: Uncategorized

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