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Ballard Seattle real estate market update for February 2017


Leif Erikson status on Ballard SeattleTime to take a look at how the Ballard Seattle real estate market fared during the month of February 2017. February is usually a month where the market is starting to emerge from winter hibernation. Or at least that used to be the case. Because of the chronic low inventory of homes for sale, Ballard and other Seattle neighborhoods are staying competitive all year round now.  

The market remains very strong and for the past few months, Seattle has been either occupying the top spot or near the top as the hottest real estate market in the country. The low number of homes for sale remains the main factor driving prices upward. 

The major difference between different times of year is the variation in the number of homes for sales that naturally cycles through the lowest number in winter and then builds up to peak activity in the spring and early summer months.

The graphic below shows how homes for sale in Ballard Seattle compared in February 2017 versus 12 months earlier in February 2016.

Ballard Seattle real estate market update for February 2017

Data summary:

  • In February 2017, there was a total of 76 new listings (single family and condos combined) which was 11% lower than a year earlier.
  • There was a big drop of 57% in the number of homes that sold.
  • The average number of days that a Ballard home took to get an offer was 17, which is similar to last year (20 days).
  • On average, homes in Ballard sold for 105% of list price which is up from last year's 103%. 

The median sale price for Ballard single family homes was $782,000 which was a 19% jump from last year. It is possible that this number is not reliable and that the average might be skewed by a larger proportion of high-end, more expensive home sales. Will need to see next month's data. 

Ballard condominium prices were up 9% from February 2016 with an average sale price of $478,00.

What's the general price trend?

The graph below shows the median sale price trend for both single family homes and condominiums over the past 10 years (using a 6-month rolling average).  Note that the median price is the price at which half the homes sold above that price and half sold for below that price. After the 2007 "bubble", bottomed in early 2012 and have been increasing ever since. 

As you can see, Ballard home prices are well above previous highs seen in 2007. Currently, the median sale price is around $700,000 versus $500,000 previously for single family homes. For condos, it's now  $400,000 compared to $330,000.

Move your mouse over the graph to see sale prices.

How is The Ballard housing inventory trending?

The graph below shows how the number of Ballard listings has dropped over the past 5 years leading to greater competition for homes which then forces prices up. Good news if you are a seller but makes for a tough market for buyers looking to buy a property in Ballard. Currently, there is only about 1 month's supply of inventory available.

Despite home prices increasing since 2012, there has not been an associated increase in the number of homes for sale. Have actually seen the opposite happening.

What do the numbers mean for you?

For sellers:  based on current price and inventory trends, the Ballard real estate market is not showing any signs of slowing down and remains a very strong seller's market. Most homes, if priced properly (don't get greedy), should sell quickly with multiple offers and sell above list price. 

For buyers, it remains a competitive market and you will probably have to compete with other buyers for the best homes.  You will need to be flexible on your offers and pre-inspections before submitting an offer are the norm at the moment. Pick your battles and only make offers on the homes you really want and be prepared to go all in. Hang in there!

A note regarding the statistics used in this report:

In order to generate more reliable data, I combined data for the 98117 and 98107 zip codes areas. Too few sales lead to unreliable data. Also, it is always better to look at the overall trends rather than focusing in on any one single month's data.  In general, there is too much variation from month to month to make any reliable predictions. So, when you see headlines in the newspaper stating "home prices surged up 6% from the previous month", take that with a grain of salt and focus on the big picture trend. 

Contact Conor MacEvilly, Seattle Realtor

Here's all the homes that are currently for sale in the Ballard area in Seattle:

21 Properties Found. Showing 1-12
Sort By:
8013 8th Ave NW
Seattle, WA 98117
Open House
8013 8th Ave NW Seattle, WA 98117
1 of 24
$638,888
Subdivision: Whittier
BEDS
5
BATHS
3
SQ.FT.
2,280
BUILT
1938
ON SITE
2Days
MLS ®
1107537
Indulge your inner landlord! Sitting high above the street, this 1938 bungalow comes with its very own 2nd residence attached! Freshly spruced up & painted, these 2 homes on a 5700 sq ft lot have 3...
1748 NW 64th St
Seattle, WA 98107
Open House
1748 NW 64th St Seattle, WA 98107
1 of 20
$859,950
Subdivision: Ballard
BEDS
3
BATHS
3
SQ.FT.
1,787
BUILT
2017
ON SITE
2Days
MLS ®
1114828
Modern Urban Sophistication brought to you by Beachworks & Ashworth Homes. These brand new 3 Bed, 2 bath luxury stand alones are ideal for those seeking a convenient urban lifestyle. Carefully...
3207 NW 70th St
Seattle, WA 98117
Open House
3207 NW 70th St Seattle, WA 98117
1 of 25
$925,000
Subdivision: Sunset Hill
BEDS
3
BATHS
3
SQ.FT.
2,400
BUILT
1984
ON SITE
3Days
MLS ®
1112973
BETTER THAN NEW CONSTRUCTION! Two words "super cool!". Spectacular remodeled home in Sunset Hill. Large, open remodeled kitchen will knock your socks off. Fabulous master suite with its own lavish...
8054 29th Ave NW
Seattle, WA 98117
Open House
8054 29th Ave NW Seattle, WA 98117
1 of 14
$626,000
Subdivision: Sunset Hill
BEDS
4
BATHS
2
SQ.FT.
2,160
BUILT
1949
ON SITE
3Days
MLS ®
1113916
OPPORTUNITY KNOCKS! One Owner Custom Home in desirable neighborhood! Perched above the street w/western exposure - light & bright circular floor plan - hardwood floors - custom built ins. Pacific...
8011 13th Ave NW
Seattle, WA 98117
Open House
8011 13th Ave NW Seattle, WA 98117
1 of 22
$559,000
Subdivision: Whittier
BEDS
3
BATHS
1
SQ.FT.
1,000
BUILT
1938
ON SITE
3Days
MLS ®
1112072
See this DELIGHTFUL home in Seattle's coveted WHITTIER neighborhood! The living room boasts large double pane windows, original hardwoods & a wood burning stove to enjoy on those cold nights! THE...
3037 NW 67th St
Seattle, WA 98117
Open House
3037 NW 67th St Seattle, WA 98117
1 of 23
$725,000
Subdivision: Sunset Hill
BEDS
4
BATHS
2
SQ.FT.
1,900
BUILT
1945
ON SITE
3Days
MLS ®
1114061
Charming Cape Cod in sought after Sunset Hill/Ballard! Across the street from Webster park & Nordic Heritage museum & short walk to shops & cafes. Hardwood floors, open kitchen, & large dining room...
1473 NW 83rd St
Seattle, WA 98117
Open House
1473 NW 83rd St Seattle, WA 98117
1 of 22
$750,000
Subdivision: Whittier
BEDS
4
BATHS
3
SQ.FT.
2,020
BUILT
1928
ON SITE
2Days
MLS ®
1110353
An Architecturally modern Tudor with quintessential charm that exudes warmth & character w/built ins, original tile fireplace. Picture rail and coved ceiling complemented by mahogany windows bringing...
1726 NW 64th St
Seattle, WA 98107
Open House
1726 NW 64th St Seattle, WA 98107
1 of 24
$849,950
Subdivision: Ballard
BEDS
3
BATHS
3
SQ.FT.
1,923
BUILT
2017
ON SITE
2Days
MLS ®
1113723
Greenbuild Development presents a collection of 3 stand alone homes built to a green standard in Seattle's most coveted Ballard. These 3 Bed, 2 bth homes are ideal for those seeking a convenient...
5227 Russell Ave NW #A
Seattle, WA 98107
Open House
5227 Russell Ave NW #A Seattle, WA 98107
1 of 25
$699,000
Subdivision: Ballard
BEDS
3
BATHS
3
SQ.FT.
1,860
BUILT
2007
ON SITE
4Days
MLS ®
1110679
Pristine four-story townhouse in the heart of Ballard. Main floor entry opens to living room with gleaming hardwoods, gas fireplace and dining room. Gourmet kitchen with granite counters, gas range...
8338 22nd Ave NW
Seattle, WA 98117
Open House
8338 22nd Ave NW Seattle, WA 98117
1 of 24
$724,950
Subdivision: Loyal Heights
BEDS
3
BATHS
2
SQ.FT.
2,000
BUILT
1941
ON SITE
4Days
MLS ®
1110992
Impeccably maintained 1941 Mench w/original details you won't believe! The living & dining rooms have coved ceilings, large picture windows, beautiful hardwoods under the carpet & the quintessential...
5620 7th Ave NW
Seattle, WA 98107
Open House
5620 7th Ave NW Seattle, WA 98107
1 of 23
$749,950
Subdivision: Ballard
BEDS
3
BATHS
2
SQ.FT.
1,890
BUILT
1925
ON SITE
4Days
MLS ®
1107628
Just a short walk from all that Ballard has to offer, this wonderfully updated Ballard craftsman is move-in-ready. Original hardwood floors in the main living area lead you to a bright kitchen,...
1102 NW 60th St
Seattle, WA 98107
Open House
1102 NW 60th St Seattle, WA 98107
1 of 25
$685,000
Subdivision: Ballard
BEDS
3
BATHS
2
SQ.FT.
1,660
BUILT
1924
ON SITE
5Days
MLS ®
1107063
This charming bungalow is situated perfectly on a sunny corner lot, in one of the most sought after neighborhoods and just blocks to Ballard’s restaurants, stores and shops. Main level features newly...
NWMLS Copyright Infringement Information


All listings featuring the icon are provided courtesy of the Northwest Multiple Listing Service (NWMLS), Copyright 2017. All rights reserved. The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. The information contained in these listings has not been verified by Coldwell Banker Danforth and should be verified by the buyer. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.

Listing information last updated on Friday, April 28, 2017 at 4:22 AM PST.

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