As of July 12, 2011, there are currently 62 residential homes in Ballard for sale. These homes have been on the market an average of 116 days, at an average list price of $434,283. In addition, of the 62 active homes, 9 are short sales and 2 are currently bank owned. Overall, it would appear that Ballard is demonstrating some decent activity, but here is where is gets a little better.
Next, when we look at homes that are in pending status (have an agreed to contract on them), there are 31 of these pending homes, at an average price (at the time the contract was written) of $404,951. These homes, however, were on the market an average of 40 days; nearly 1/3 the time of the currently active listed homes.
Lastly, when looking at the sold/closed homes in Ballard over the last two weeks, we find 10 residential homes that closed. The average price of these sold homes in Ballard was $395,945; which was 98.38% of the asking price when the contract was written. If we adjust for that last 98.38% price reduction, we would get a list price average of $402,465. This would suggest that prices are starting to stabilize, may be even starting to tick up slightly. Only time will tell.
If you are looking for a real estate professional in the Ballard area, contact us and one of our local Ballard agents would be happy to assist and answer any questions you may have.