Ballard Undressed

Ballard Real Estate – What happened in July?

Summer is tradtionally a slow time for real estate, but Ballard real estate is going strong this summer.  July is typically a month in which we have high inventory and not very many sales.  Enjoying the sun is more on the minds of people than Ballard real estate.  With the interest rates fluctuating but low and the $8,000 tax credit deadline coming up fast, buyers are looking hard for the best deal and trying to close before November 30th.  There is no telling what will happen after that date because a huge incentive for buyers will be gone.  This is a first-time home buyer’s market or lower priced market, depending on how you look at it.  So if you have a home priced over $600,000 be sure you are the best priced because only 9 homes over that price were purchased this month.  More than half of the homes sold under $400,000, so if you are thinking of getting a larger home this is a fabulous time to do it.  Sell when demand is high and buy where demand is low.  This is how people make money.

If you are searching for a home under $400,000 now is the time because you don’t want to be rushed into making a quick decision and the sooner you buy the better the deal because there is a lot of competition for the same homes.

Today I am going to go over the Ballard real estate sales figures for the month of July – from 105th to the Canal and from Puget Sound to Aurora.  All sales figures come from the NWMLS and represent residential sales only:

Ballard Real Estate sales for July 2009

• Active (as of the end of July) – 281, 21 more than last month
• In Escrow (pending) – 150, 28 more than last month
• Expired – 11, Same as last month
• Closed – 87, 11 less than last month

The highest priced home that sold is $1,000,000 and the lowest is $170,000.   Only 9 Ballard homes sold over $600,000 and 48 homes sold under $400,000.