Famous for its lutefisk and cedar shingles from the early days of settling in the area, this neighborhood has grown into a more sleek version of itself in the 2000's. New density has arrived by way of condos and townhomes. Granted, not all neighbors have been fans of these changes, but the Growth Management Act enacted in 1990 in WA State required cities to embrace and create density. Which led to a new zoning overlay of Ballard providing the ability for some of the old single family housing stock to be taken out for new, larger housing projects like these.
Market times for the Ballard area have been better than many others with an average on market of 68 days for homes in the $400-500k range. Higher priced homes from $600k-$1M have been taking much longer and have experienced major price reductions, particularly in new construction single family homes.
Because of the hit many builders are taking, don't expect much new construction in this area - and nearby Greenlake, Phinney, etc, for the next 2 years. What's out there in inventory now is what we'll have for a while unless it's a project already in process.
May 2009 sales activity shows year to date average price at $440,557 down 14% from last year's average of $514,696. But, the good news for May was that sales volume was up 1% over last year. Always ahead of other market areas in terms of volume (because of the size of the area) there were 145 transactions closed in May for MLS market area 705.
Location Characteristics: Lots of walkable areas to this broad part of Seattle that has been home to one of the largest Scandinavian populations outside of Scandinavia. Lots of walkable shops and restaurants throughout its reach from Puget Sound to 8th Ave NW and the Ballard Locks up to 85th on the north end (ok, maybe 65th if you're on the west section). Part of this is Crown Hill but it also goes even further north of 85th.
About Reba Haas and Robin Tomazic:
Team Reba has a combined 21+ years in real estate and an additional 30+ years in corporate sales, contract negotiation, financial analysis and marketing. We have a well earned reputation as excellent communicators and top sales performers. Team Reba is a top producer in the local region and is ranked high nationally from our work with both investor and residential clients in the Puget Sound and Greater Seattle areas.
Attention to detail is particularly important in a large transaction such as the purchase or sale of real property, whether for a home or as part of an investment portfolio, and Team Reba's group expertise will help make the transaction a successful one for our clients. Team Reba members strive to help Buyers and Sellers achieve satisfaction with the outcome of the transaction and provide protections against legal and financial exposure. Team Reba's success is reflected through: 1) High rate of referrals, 2) Return clients, and 3) Excellent service ratings.
We are proud members of the National and local Association of REALTORS(R), serving on several committees; members of Commercial Broker's Association (CBA); and Associate Members of the Rental Housing Association of Puget Sound. Team members have earned the Accredited Buyer's Representative (ABR) , Accredited Home-Staging Specialist (AHS), Senior Real Estate Specialist (SRES), and Certified Residential Specialist (CRS)designations and we are also actively involved in community as well as charitable organizations. It is our belief that "we only gain by giving" which is evident by our donations of time and resources to our chosen local charities. A list of these organizations can be found on our Team Reba website.
To learn more about the members of Team Reba and to view our upcoming classes for residential and investment real estate please visit http://www.TeamReba.com.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
