Is Ballard, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Ballard has remained a Seller's Market.
Key Takeaway
Ballard is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ballard, WA
How much do homes in Ballard, WA cost?
Median Sold Price
$879,760
$588/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ballard have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in Ballard was $879,760 in May 2024, down 0.6% from last year, and the median price per square foot was $588.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $483K | $471.5K | -2.4% |
| 2 Bedrooms | $725K | $724.9K | 0% |
| 3 Bedrooms | $915K | $929.9K | +1.6% |
| 4 Bedrooms | $1.2M | $1.2M | -1.7% |
| 5+ Bedrooms | $1.5M | $1.5M | -5.5% |
Summary: Ballard housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.4%, 2 bedroom homes did not change, 3 bedroom homes increased by 1.6%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes decreased by 5.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Whittier Heights | $860K | $875K | +1.7% |
| Ballard | $884.9K | $879.7K | -0.6% |
| Loyal Heights | $978.5K | $901K | -7.9% |
| Salmon Bay Park | $1.1M | $895K | -21.1% |
Housing Supply in Ballard, WA
How many homes are available in Ballard, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 185 | 283 | +53.0% |
Summary: The Ballard real estate market had 283 homes for sale in May 2024, a 53.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 27 | +42.1% |
| 2 Bedrooms | 62 | 92 | +48.4% |
| 3 Bedrooms | 74 | 117 | +58.1% |
| 4 Bedrooms | 26 | 33 | +26.9% |
| 5+ Bedrooms | 4 | 14 | +250.0% |
Summary: The Ballard housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 42.1%, 2 bedroom homes increased by 48.4%, 3 bedroom homes increased by 58.1%, 4 bedroom homes increased by 26.9%, and 5+ bedroom homes increased by 250%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 63 | 79 | +25.4% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ballard, you could pay more than the asking price. 43% of homes here sold above asking price last month.
Summary: A total of 79 homes were sold or pending in Ballard in May 2024, up by 25.4% month-over-month. Of the 79 sold homes, 19% were sold under asking, 38% were sold at asking, and 43% were sold over asking.
Days on Market for Ballard, WA
How long does it take to sell a home in Ballard, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 15 Days | -51.1% |
Summary: Homes in Ballard had an average of 15 days on market in May 2024, down by 51.1% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ballard are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 79 homes were sold in Ballard; 84% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.