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Ballard Homes - A Real Estate Update

As of July 20, 2011, there are currently 54 residential homes in Ballard for sale at an average price of $431,790 and 124 days on market.  In addition, there are 40 condominiums for sale at an average price of $294,645 and 143 days on market.   There are 16 short sales and 3 properties are currently bank owned.  Overall, it would appear that Ballard is demonstrating some decent real estate activity, but the pending homes in Ballard are showing more promise.

Next, when we look at homes that are in pending status (have an agreed to contract on them), there are 27 of these pending homes in Ballard.  These homes, however, were on the market an average of 56 days; nearly 1/3 the time of the currently active listed homes.  There are also 21 homes recently under contract in the "Pending Inspection" category, at an average days on market of 65 days.  It appears that homes that are priced right are being put under contrat within about 60 days. 

Lastly, when looking at the sold/closed homes in Ballard over the last week, we find 5 residential homes and one condominium that closed.  The average price of these sold homes in Ballard was $442,783; which was 96.38% of the asking price when the contract was written.  This is a defeinite up tick from last week, but only time will tell if the uptrend in price holds.

The Cascade Team Real Estate

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