Throughout the housing bubble which burst in 2008, South King always had the greatest share of sales. We ve noticed the same thing during the last few years as costs have grown to astronomical levels. From the lead-up to the 2008 bust that was big, sales in South King dropped as earnings at Seattle gained floor. February s sales share could be a portent of a pattern, or it might just be a blip. We’ll see over the next few months.
the low grade is currently in an all-time record high, although all three tiers saw gains in their various price. Month-over-month, the median cost in the low grade climbed three percent, the middle tier increased eight percent, and nine percent was gained by the high grade.
Meanwhile sales were down in all three tiers. In contrast to a year ago, sales dropped seven percent in the middle tier decreased five percent at the low tier, and fell four percent from the high grade.
- Low end: South County (places 100-130 & 300-360)
- mid range: Seattle / North County (places 140, 380-390, & 700-800)
- high-end: Eastside (regions 500-600)
Here’s how year-over-year was shifted by the median prices. Low grade: up 5.2 percent, mid grade: up 0.1 percentage, higher tier: down 4.7 percent.
In order to explore this concept, we break King County down to three regions, according to the NWMLS-defined “areas”:
First allow ’s look at every month’s percentage ’s closed revenue that took place.
Eighteen of those NWMLS regions in King County with single-family house sales in March had a median price compared to one year ago, while 23 had a month-over-month gain in the price.
- High-end: $379,000-$593,750
- mid range: $615,000-$1,090,000
- high-end: $814,037-$2,586,183
This s an updated look at the percentage of sales data all the way back through 2000:
This ’s that information in a format:
The last few years have each followed a similar pattern: while sales in the mid-range regions maintain a fairly steady share of sales in the county each month, earnings in the cheaper parts of the county (South King) surge in winter months and dip in the summer, with sales in the most expensive components (Eastside) performing the opposite. Except for a spike in Seattle in February, thus far we re this season, seeing exactly the identical pattern.
It s been a few months since we took a peek to learn the sales mix changed across the continent. I love to keep an eye on this to observe how individual neighborhoods are doing but also to observe the sales mix shift impacts the overall median price.
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The number of sales in all 3 tiers increased between February and March. Month-over-month sales were up 35% at the tier, up six percent at the middle tier, and upwards 42 percent.
As of March, prices are up from a year ago from the regions, apartment in the mid-range areas, and down from the regions. The share of sales is leaning toward the regions that are low-end.
Finally, allow ’s have a look at each area ’s (approximate) median cost (actually the median of the medians for each area within the area ).
As of March 2019, 37.9% of earnings were at the very low end regions (essentially flat from 37.8 percent per year ago), 32.0 percent in the mid range (down marginally from 32.6 percent a year ago), and 30.1 percent at the large end (up from 29.6 percent a year back ).
This ’s where every area ’s median costs came in data: