Ballard Market Update

Here’s a snapshot of the Ballard area real estate market for June 𝟮𝟬𝟮𝟮

𝙄𝙣 𝙅𝙪𝙣𝙚 𝙩𝙝𝙚 𝙢𝙖𝙧𝙠𝙚𝙩 𝙨𝙝𝙞𝙛𝙩𝙚𝙙. We saw a quick rise in mortgage rates that have slowed down the housing market, but this is a good thing!

In 2020/2021 the real estate market accelerated due to historically low rates to help the economy recover from the covid-19 recession. As rates start to rise we will start moving back towards a healthy (more balanced) market.

What does a healthy real estate market look like?

For 𝙗𝙪𝙮𝙚𝙧𝙨:

1. More homes on the market

2. Less competition in the marketplace

3. Lower loan amounts

For 𝙨𝙚𝙡𝙡𝙚𝙧𝙨:

1. Buyers have regained some control

2. Pricing is more important than ever

3. List sooner, rather than later

Do you have questions on how you take advantage of this market? Questions about what it really means for you? We’re here to help guide you through those questions.

***Market activity for Cambridge, Huxley, Kelley & Slater. Stats pulled from the Des Moines MLS.