After Ballard's torrid pace of June home sales, it looks like the market for single family homes has stayed strong. Real estate sales of houses and townhomes in Ballard were up 18% in July 2009 vs July 2008. Prices, meanwhile, were 10% lower, making homes more affordable for first time home buyers.
The total inventory in Ballard, and in Seattle in general, has dropped significantly since last year. The latest numbers show about 20% decreases in houses on the market, which has created a fast-moving market. While last month Ballard houses were selling in just a couple of weeks, in July we moved up to a longer, but still relatively quick 36 days on the market. Any seller would be happy to sell in one month.
I've been involved in a handful of multiple-offer transactions in Ballard in the past month, with one home receiving 9 offers on the first weekend it went on the market. While the condo sales are not as strong, the price point for houses in Ballard seems to be attracting a lot of first time buyers. The median sold home price was $395,000, and the majority of first time buyers I'm seeing are in the $250k-$375k range.
I'd look for this market to continue strong sales through the fall as buyers take advantage of the $8000 tax credit. Most will have to have a home under contract in October to qualify, so getting pre-approved and starting the home search by September is a must.
Sam DeBord and Brian Wiegand
Seattle Homes and Seattle Condos for sale on SeattleHome.com
Seattle Waterfront Homes - RE/MAX Real Estate BrokersThis information not compiled or published by the Northwest Multiple Listing Service. MLS data used, may not include all sales
No comments:
Post a Comment