Ballard/Greenlake
There were $1.72 billion in single-family home sales in the Ballard and Green Lake area of Seattle, at a median selling price of $750,000. This was 13.6 percent higher than the 2016 annual median price of $659,950, just short of advancing home prices in neighboring North Seattle.
Year over year, the number of homes sold in Ballard surged in the first quarter (421 homes vs. 316 in 2016 Q1), then subsided to seasonally normal levels through the end of the year. A total of 2,129 single-family homes were sold in Ballard and Green Lake in 2017, 2.1 percent more than the in 2016.
Sales moved as quickly in this area as anywhere else in the region. The median cumulative days on market held steady at seven days all through 2017. Home selling deviations from listed prices were regularly in favor of sellers.
Single-family home prices at the 25th, 50th, and 75th percentiles rose each quarter on a year-over-year basis, with those gains registering double digits at the median price each quarter. For example, quarterly home prices at the 50th-percentile mark rose by 10.9 percent year over year in Q1, 13.5 percent in Q2, 13.9 percent in Q3, and 16.8 percent in Q4. The 90th-percentile price rose most quickly from July through December, with 2017 Q4 prices 27.9 percent higher than those of 2016 Q4.
In 2017, three- to five-bedroom homes sold in Ballard were priced equally to homes sold in North Seattle, while selling prices of two-bedroom homes in the former exceeded those in the latter by 7.4 percent.
2017 AT A GLANCE
Median Home Price:
$750,000
Home Sale Volume:
$1.72 Billion