What's going on with Ballard? It's hot!!

I've noticed lately that desirable, well-priced homes in the Ballard area (including Crown Hill, Sunset Hill, Loyal Heights & Whittier) are selling like hotcakes!  In the past 10 days, 8 homes came on the market and had offers in less than a week. (some in just a day!)  Out of the pending homes who are past the inspection process, 11 had offers in 7 days or less.  This accounts for 1/3 of the pending homes in this area right now.  The price point that seems to be the hottest is $550K and under.  The average price of the pending inspection homes in this area is $476,842; the average price of pending homes is $428,919.  There are 83 pending homes and 51 pending inspection homes right now.  (as of 2/24/11)   This activity has left only 68 homes currently 'active' in this neighborhood.  Given the number of pending sales right now, there is low inventory given the demand.  For those of you considering selling your home this year, it's definitely a great time to sell in this 'hot' neighborhood!  For you buyers out there, make sure you've got a Realtor who is on top of this market and keeping you updated every day on what's new.

  • February 23 2011 - Ballard
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Answers (7)

Totally agree Rebecca.  N. Seattle has always fared well even compared to the rest of Seattle and Ballard is a prime location both for first time home buyers and move up buyers.  It's a great area with everything that is great about a city but with a very suburban feel.  I also think that with the remodel of Ballard High, even more people are trying to get in.  
  • February 24 2011
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I agree, Ballard, Fremont, Greenwood and Wallingford are hot!  I've been in mulit offers there in the last 3 weeks. Buyers are even doing inspections on homes before the sellers are reviewing offers.
  • April 12 2011
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Of Course Ballard is "Hot" it is where I grew up....... With all Joking aside you really can't beat an area that is so self sufficient you really do not need to leave to get anything you want, unless you are being down right picky, or want to go on vacation.

I'll take 10 minutes to Down Town and a sloop on the way home any day of the week. Especially since Ballard still has some homes that are eligible for down payment assistance allowing for borrowers to bring little to no down to purchase a home in such a great area.
  • July 24 2012
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Ballard is a great area, it is close to downtown, but far enough away to have a neighborhood feel to it. I live in the Ballard area and love it. It has everything you could want in a Seattle neighborhood
  • January 30 2013
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Agreed.  Ballard, Green Lake & Wallingford are some of the fastest growing neighborhoods in the City of Seattle.  Why wouldn't they be, they offer a smaller neighborhood vibe with quaint little shops & bistro's but the energy of the city is just minutes away.  I recently had (2) homes that were purchased and both had pre-inspections and went in multiple offers at least 50K above list price.  The inventory is still low in these neighborhoods and buyers are hungry for more homes to hit the market.
  • October 21 2013
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Profile picture for Beth Traverso
As a Ballard native, I couldn't agree more!
  • November 21 2013
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Profile picture for Chuck Cady
Interesting to see the old posts on this topic and how the multiple offers are still relevant in today's market. 
  • January 10
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