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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:

14 Properties Found. Showing 1-12
Sort By:
8507 18th Ave NW
Seattle, WA 98117
8507 18th Ave NW Seattle, WA 98117
1 of 14
$714,000
Condo: Highland View
BEDS
2
BATHS
2
SQ.FT.
1,350
BUILT
2017
ON SITE
5Days
MLS ®
1224609
Lucky Lou Homes proudly presents a vibrant collection of four splendid new townhomes located in the historic Ballard community. Enjoy stylish custom features and a smart floorplan designed for live,...
7732 19th Ave NW
Seattle, WA 98117
Open House
7732 19th Ave NW Seattle, WA 98117
1 of 25
$850,000
Subdivision: Ballard
BEDS
4
BATHS
3
SQ.FT.
2,460
BUILT
1965
ON SITE
5Days
MLS ®
1224278
Just blocks to the Loyal Heights Playfield, this spacious home has room for everyone! On the main floor is a large living room, dining room, updated kitchen and 3 bedrooms with a nice master bath!...
8029 25th Ave NW
Seattle, WA 98117
8029 25th Ave NW Seattle, WA 98117
1 of 5
$524,000
Subdivision: Ballard
BEDS
1
BATHS
1
SQ.FT.
610
BUILT
1924
ON SITE
6Days
MLS ®
1224064
Great Ballard location. Come enjoy all Ballard has to offer. Walk to schools, bus lines, local restaurant and businesses. Major fixer or tear down and build the home of your dreams.
5519 26th Ave NW
Seattle, WA 98107
5519 26th Ave NW Seattle, WA 98107
1 of 25
$749,000
Subdivision: Ballard
BEDS
3
BATHS
4
SQ.FT.
1,390
BUILT
2005
ON SITE
6Days
MLS ®
1219823
Elegant living, preeminent urban location w/ quick access to Ballard's favorite destinations. Master & Jr. Suite boast vaulted ceilings w/ bay & territorial views. Stunning Brazilian cherry wood...
8505 18th Ave NW
Seattle, WA 98117
8505 18th Ave NW Seattle, WA 98117
1 of 14
$699,950
Condo: Highland View
BEDS
2
BATHS
2
SQ.FT.
1,250
BUILT
2017
ON SITE
5Days
MLS ®
1224590
Lucky Lou Homes proudly presents a vibrant collection of four splendid new townhomes located in the historic Ballard community. Enjoy stylish custom features and a smart floorplan designed for live,...
3025 NW 57th St
Seattle, WA 98107
3025 NW 57th St Seattle, WA 98107
1 of 24
$650,000
Subdivision: Sunset Hill
BEDS
3
BATHS
2
SQ.FT.
1,880
BUILT
1946
ON SITE
7Days
MLS ®
1223406
Charming Sunset Hill cape cod. Vintage details include oak hardwood floors on the main and upper levels. Wood burning fireplace. Light streams in through large windows. Updated bathroom. Sought after...
6740 26th Ave NW
Seattle, WA 98117
6740 26th Ave NW Seattle, WA 98117
1 of 19
$685,000
Subdivision: Ballard
BEDS
3
BATHS
1
SQ.FT.
1,220
BUILT
1951
ON SITE
7Days
MLS ®
1222327
Delightful contemporary rambler close to the best that Ballard has to offer. It boasts 3 bedrooms, hardwood floors, built-ins, updated kitchen with dining area overlooking huge backyard, & attached...
5803 24th Ave NW #35
Seattle, WA 98107
5803 24th Ave NW #35 Seattle, WA 98107
1 of 20
$485,000
Condo: The Danielle
BEDS
1
BATHS
1
SQ.FT.
708
BUILT
2009
ON SITE
7Days
MLS ®
1221827
Welcome to the Danielle. This highly sought after boutique building is what you have longed for. Enjoy the Large One Bedroom East Facing Home with Rare Office Bump Out & 2 Balcony's!! 4 in. Wide...
1746 NW 60th St
Seattle, WA 98107
1746 NW 60th St Seattle, WA 98107
1 of 24
$949,950
Condo: Gilmans Park
BEDS
3
BATHS
3
SQ.FT.
1,900
BUILT
2017
ON SITE
7Days
MLS ®
1224282
Newly built 3 story Standalone homes in Ballard! Natural gas heat and cooking. State of the art kitchen with stainless steel appliances and quartz counter tops. Engineered wood floors throughout....
5004 9th Ave NW
Seattle, WA 98107
5004 9th Ave NW Seattle, WA 98107
1 of 17
$724,000
Condo: 20
BEDS
3
BATHS
3
SQ.FT.
1,280
BUILT
2008
ON SITE
8Days
MLS ®
1220482
Experience the fun of living in Ballard in this light-filled contemporary home. Wonderful open floor plan offers flexible living/entertaining spaces, cozy fireplace, comfortable deck and expansive...
2637 NW 59th St
Seattle, WA 98107
2637 NW 59th St Seattle, WA 98107
1 of 25
$1,350,000
Subdivision: Ballard
BEDS
7
BATHS
3
SQ.FT.
2,900
BUILT
1900
ON SITE
8Days
MLS ®
1223391
Eclectic & totally charming, 1900 vintage Victorian. Plenty of life left in this lovely, graceful Lady. Built ins & quirky touches galore. Main floor guest room w/private entrance could be perfect...
6603 32nd Ave NW
Seattle, WA 98117
6603 32nd Ave NW Seattle, WA 98117
1 of 20
$750,000
Subdivision: Sunset Hill
BEDS
2
BATHS
1
SQ.FT.
2,200
BUILT
1910
ON SITE
17Days
MLS ®
1221201
Charming Turn-of-the-Century 1910 Brick Tudor in beautiful Sunset Hill. Immaculate interior, gleaming hardwood floors, coved ceilings, formal dining room, tiled fireplace, very well maintained....
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 Tuesday, December 12, 2017 at 4:22 AM PST.

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