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Ballard a ‘sellers market’ for real estate

Posted by Geeky Swedes on March 31st, 2009

If you’re seeing a few “sold” signs around the neighborhood, there’s some data to back up your observation. “Months of supply” (MOS) is a real estate metric that measures the total number of homes on the market divided by pending sales, or roughly the rate of home sales. Anything with a MOS of 6 and under is considered a “seller’s market.” In the latest report for the month of February, the Ballard/Greenwood area came out with the second-lowest MOS in all of King County (4.6), just behind Shoreline (4.5). Sure, the market has cooled considerably, prices are way down, and who knows what the market will do next. But in today’s economy, it’s a rare nugget of positive news for homeowners.

Updated: Seattle-area home prices back to July 2005 levels

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