Meanwhile, year-over-year earnings are in the low tier and are falling in the middle and tiers. Compared to a year before, five percent at the tier decreased, fell nineteen percent and fell twenty percent at the grade.
The costs in the middle and large tiers have fallen off over the last few months, but the very low grade has held stable. Month-over-month, the median cost in the tier dropped two percent, nine per cent decreased, and the grade lost three percent.
- High-end: $380,000-$588,500
- mid-range: $599,000-$1,060,000
- high end: $786,500-$2,557,500
It’s intriguing that in each of the previous four decades that the share of earnings in the South King regions has peaked in the first quarter and fallen off. This year throughout the summertime has stayed several points higher than the other two tiers unlike the past few years the share of sales in the county’s less expensive parts. The past couple months has seen the share of earnings in the inexpensive areas of the county gaining ground, and it is a significant part of the median cost has been falling.
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We’re seeing the identical pattern that we watched during the bubble years of 2004-2006–a much larger percentage of sales taking place in the low tier regions and a sales share for the high grade Eastside areas.
Ultimately, let’s have a look at each region’s (approximate) median price (really the median of the medians for each region within the region).
First allow ’s examine each month’s percentage ’s closed revenue that took place in each of the three areas.
This ’s where every area median costs came as of August data:
This ’s how year-over-year was shifted by the prices. Low grade: up 10.9 percent, middle grade: up 0.3 percentage, higher grade: up 7.6 percent.
- Low end: South County (areas 100-130 & 300-360)
- mid-range: Seattle / North County (regions 140, 380-390, & 700-800)
- high-end: Eastside (areas 500-600)
Here s an updated look in the percentage of sales data all the way back through 2000:
In order to explore this concept, we split King County down into three regions, based on the NWMLS-defined “regions ”:
It’s been six months since we first took a look at the breakdown data from the NWMLS to realize the way the sales mix shifted across the county. I love to keep an eye on this to observe how the general median price impacts but also to view how individual areas are doing.
Twenty-five of those twenty-nine NWMLS areas in King County with home sales in August had a median price that is higher than one year ago, although only two had a gain in the cost.
The number of sales in all 3 tiers has been diminishing month-over-month to the previous two months. Month-over-month earnings were down 5 percent at the low grade down ten percent and down eight percent at the high grade.
At August 2018, 37.1% of sales were at the very low end regions (up from 33.2 percent a year back ), 32.0 percent from the mid range (down from 33.9 per cent per year back ), and 30.8 percent in the high end (down from 32.9 per cent a year ago).
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