Ballard’s real estate showings slight signs of weakening
This Week
The median list price this week for the Ballard area is $559,900 is down from last week’s $580,000. Demand measured by the Market Action Index (MAI see below chart) is increasing and days-on-market is trending lower. Even as more properties come available, these are positive trends for the market.
Supply and Demand
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the the trend continues.
Price
We continue to see the prices in the Ballard area bounce around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
This Ballard real estate update is brought to you you by Adrian Willanger of Coldwell Banker Danforth. If you are considering selling your home I would be happy to assist you. Give me a call for a free market evaluation of your home’s value. I can be reached at 206 909-7536 or by email at Adrian@adrianwillanger.com
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