Help Ballard Bring Home The Curbed Cup!

We Ballardites know that we’re lucky enough to live in the BEST neighborhood in Seattle, right? Well, now’s our chance to let the whole city know!

The 2016 Curbed Cup is up for grabs and it’s down to us, Vs Columbia City. That’s right, we have made it all the way to the final round!

Now, it’s time to bring it home.  With 5 (yes, F-I-V-E) days to vote for Ballard, and a community of crazy-proud inhabitants, it would be a cinch to take the title. That is, THE title, the whole shebang, The Curbed Cup.

Head over to Curbed Seattle to cast your vote (or click here and skip the extra typing) for our ‘hood before midnight tonight for it to count.

And don’t just stop there, share the link with your friends! Text, them, email them, bribe them into casting their vote, whatever you have to do, get others to join so we can come out on top!

The title is within our grasp, so close we can taste it, let’s not let it slip away! We all know Ballard is where it’s at, let’s make sure everyone else does too! 

Ballard Real Estate – Fall Recap

Ballard saw brisk sales activity in October with 52 properties sold, including 13 condos and 39 single-family homes. Though sales volumes were steady over the year, with an almost identical number of properties sold as in October 2014 (53), average sales price increased by 15 percent over the year to $573,254. Homes are selling quickly, with most only lasting on the market for approximately a week. Only 10 single-family homes were on the market for more than seven days in October, and condos sold in an average of 6 days.

Condo sales prices ranged from $260,500 for a 700-square-foot unit in a 1981 building at 11th Avenue Northwest and Northwest Market Street, to $425,000 for a 923-square-foot unit near the Ballard Locks. The lowest priced single-family (non-townhouse) home sale came in at $450,000 for a 1908 Craftsman in Loyal Heights; and at the high end, two new-construction modern homes on 23rd Avenue Northwest sold for $1.15 million each. Only four properties sold for below list price, and of the 52 properties sold, 35 sold for more than list price. The highest list-to-sales-price ratio came in at 122 percent for a 1967 715-square-foot condo a block from Ballard Commons Park.

If you’re curious what your Ballard home would sell for, please contact one of our agents for a free market analysis!

Ballard Housing Market Recap: June 2015

Blue RidgeBy JJ Heinrich, Ewing & Clark, Inc.

The month of June has come and gone, and both the weather and Seattle’s real estate market have been extremely impressive. It’s well known that the summer months typically signal the busiest time of year for the real estate market, and the Ballard neighborhood has been quite dynamic. Let’s take a look at some of the real estate highlights for the month of June in Ballard:

According to the Northwest Multiple Listing Service, June brought about the sale of 44 single-family homes. The median sales price of those 44 homes was approximately $638,511. The homes that sold in the month of June averaged being on the open market for just 9 days, in line with the average for homes in Seattle. The total dollar amount of those transactions totaled roughly $28,094,497. Not a bad month’s work!

There were also 11 condominiums sold in Ballard in June at a median sales price of $375,958, and those units averaged being on the market for 46 days.

As you can see by the statistics provided above, the real estate market in Ballard continues to be extremely active, and we don’t anticipate that to change as we get deeper into the summer months. For more information on Ballard (and Seattle) real estate, or if you are curious about what your house might be worth in this strong market, please contact your local real estate broker for a free market analysis and conversation about your home.

February Real Estate Recap

This February we saw another unbalanced month of real estate in the northwest Seattle market. It continued the trend of last year of being a very strong sellers market as home prices jumped when compared year over year. With less homes coming on the market it is forcing the many buyers in the market to pay more, be aggressive with their offer, and compete in a multiple bid process, where often times the final sales price will end up well above the asking price. Below are some stats that will reinforce these points.

Blue Ridge

For February 2015

  • 10% fewer homes came on the market than in February 2014
  • 7% fewer homes sold than in February 2014
  • The median home sold went for 16% more than in February 2014
  • There is currently less than a 1 month supply of inventory (which is lowest in King County)
  • Average days on market is 34 days (lowest in King County)

If you have any questions about the northwest Seattle real estate market feel free to reach out and we would be happy to assist.

*Statistics not compiled or published by the Northwest Multiple Listing Service

 

Mars Hill sells Flagship Location in Ballard for $9 Million

If you live in Ballard, you’ve likely seen the Mars Hill mega church that sits directly across from the Trader Joe’s store. Reported in the Puget Sound Business Journal today, the church bought the property for $4.8 million in 2003, and keeping it within faith-devoted family, just sold it to local church Quest for $9 million. The Ballard location was the most valuable of 15 the locations the church owned across 5 states.  Ballard-Map

Additionally Mars Hill is selling their 40,000-sf corporate facility at 1411 N.W. 50th Street, as well as their Sammamish building which offers 30,000-sf and around two-acres of land. Both properties asking price is $6.9 million and with Seattle’s real estate industry booming, these properties are catching the interest of retail and office developers.

Classic Brick In Blue Ridge Available For $2,195,000

Blue RidgeThis beautiful three-bedroom home in Blue Ridge overlooking the Puget Sound and Olympics is on the market for the first time in 37 years! Classic features such as hardwood floors, French doors, and a fireplace alongside modern amenities make this an extremely comfortable home. Enjoy a large wrap-around lot featuring Italianate terraces, lush greenery, and the ever-present mountain and sound views. Extraordinary construction and details, fantastic living spaces, gracious scale, and old-world ambiance. Two-car garage with storage. If you are interested in this home or other homes in the neighborhood, contact your real estate agent today!

Ballard Real Estate Recap

September was another strong real estate month in the Ballard market. During that time we saw an 8% increase in the number of new listings that hit the market but at the same time there were 20% fewer active listings available for purchase when compared to September 2013. While more homes came on the market this past September than the previous year, it still did not make up for the overall low inventory of homes that has plagued the Ballard area. Inventory levels are at a one month supply which is the lowest level in King County. As a result, we saw the median home price rise this past September in part due to fewer homes available to purchase. The median single family home price on closed sales in Ballard was $524,500 last month. That is a 12% increase when compared to September of 2013 where the median home price of a sold home was $468,500. With interest rates still at historic lows and Ballard attracting a lot of buyers, this trend of low inventory and high prices is set to continue. If you would like more information on the Ballard real estate market, please feel free to reach out.

 

*Statistics not compiled or published by the Northwest Multiple Listing Service

 

Ballard Real Estate Recap

The 2014 real estate market in Ballard has been one of low inventory and high prices which is also the trend for the entire North Seattle market. When looking at the year to date figures, the average single family home price has increased by almost $40,000 which is about an 8% increase when compared to the first seven months of 2013. When looking at the year to date median single family home price, that has increased by over 10% when compared to 2013. These increases are a result of the market trends that show Ballard is a top Seattle neighborhood to purchase in as well as the low inventory levels have caused home prices to increase.

Another figure that can help explain the current market conditions in North Seattle is that the number of sales closed has decreased by almost 5%. While it is hard to pin point the exact reason for this, one explanation could be that some buyers are stepping out of the market in the short term because they are tired of losing out on homes that they made offers on. When looking back on the Ballard real estate market in 2014, buyers are losing out on homes even when offering well above asking price. This frustration in my opinion is part of the reason for fewer sales in 2014.

For more information about the Ballard real estate market or if you are looking to buy or sell your come, please feel free to contact me.

 

*Statistics not compiled or published by the Northwest Multiple Listing Service

June Real Estate Report

The North Seattle real estate market has continued to be a high demand low supply market. While the level of inventory has inched closer to a one month supply, we are still nowhere near a normal market condition. Because of the low levels of inventory, historic low levels of interest rates, there are a lot of buyers in the market and not enough homes for sale to satisfy the demand. As a result, the average home in North Seattle sold for 13.5% more last month than it did in June 2013. If we compare median home prices, that increased by more than 12% from the previous year. With no shortage of interested buyers, this is a great market if you are looking to sell your North Seattle home for a premium price.

In Ballard, we saw similar trends as the rest of North Seattle saw with homes selling for a premium amount and closing in a short period of time. The demand to live in Ballard is evident in multiple ways as new construction homes are popping up everywhere. Another indicator of the strong sellers’ market in Ballard is the fact that homes are receiving multiple offers and closing for well above the asking price. If you are looking to buy or sell your home in Ballard, please feel free to contact me.

May Real Estate Report

The real estate market for the North Seattle area continued the year long trend of being a sellers’ market. Houses are selling faster and at a higher price point than a year ago. The average days on market for a North Seattle home in 2013 was 24 days, this past month a home sold on average in 20 days. More buyers are having pre-inspections completed, writing cash offers, and waiving other contingencies, all to compete for their dream home. Compared to May of 2013, the median price on a home sold in North Seattle increased by 10%. That increase is a result of more buyers who are looking to live in North Seattle.

More specifically in Ballard, the median home price rose from $436,000 in May 2013 to $500,000 in May 2014. That is a 15% increase from the previous year and 5% higher than the average home sold when compared to the rest of North Seattle. If you are looking to buy or sell your home and would like more information, feel free to contact me with any questions.

 

*Data provided by the NWMLS