Non-Distressed Median Up 11% From 2012

Non-Distressed Median Up 11% From 2012

Well it’s late, but as promised yesterday, it’s time to check up on median home sale prices broken down by distress status: Non-distressed, bank-owned, and short sales.

King County Single Family Median Price - Non-Distressed, Bank Owned, & Short Sales

As of February, the non-distressed median price for King County single family home sales sits at $427,850, up 10.9% from a year earlier and up 7.0% from January. That’s quite the spike in just one month, even after we back out the bank-owned homes and short sales.

The bank-owned median sale price was at $195,000 in February, up 2.7% from a year earlier. The short sale median price came in at $267,500 in February, down 2.9% from 2012.

Here’s a look at the price per square foot broken down by distress status:

King County Single Family Median Price - Non-Distressed, Bank Owned, & Short Sales

The median price per square foot of non-distressed homes was up quite a bit from 2012 as well, but not by quite as much—a 7.4% gain. The bank-owned median price per square foot was up 7.8%, while the short sale median price per square foot was up 2.3%.

  

About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

6 comments:

  1. 1
    mike says:

    YES! Time to cash out that equity and buy a boat.

    Or not.

    Rate this comment: Thumb up 0

  2. 2
    Erik says:

    RE: mike @ 1
    More like time to buy a home before you get priced out of the market.

    Rate this comment: Thumb up 0

  3. 3
    mike says:

    Too late for me. Boat is the only option.

    Rate this comment: Thumb up 0

  4. 4
    pfft says:

    if you are bearish right now on housing you are just as stupid as those that were bullish on housing before the crash.

    Look around, you are the sucker!

    No more foolish self-righteousness.

    Rate this comment: Thumb up 0

  5. 5
    David Losh says:

    RE: pfft @ 4

    You’re a year early with that prediction. You should read some of the links you post.

    Rate this comment: Thumb up 0

  6. 6
    Erik says:

    RE: David Losh @ 5
    It will be interesting to see if those NTSs that will increase supply and drive prices back down or not. Someone on Seattlebubble made the comment that the NTSs may just get consumed quickly and not drive down pricing. From what I am seeing with this low inventory, that will be the case.

    Rate this comment: Thumb up 0

Leave a Reply

Use your email address to sign up with Gravatar for a custom avatar.
Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Please read the rules before posting a comment.