Let’s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller’s “Seattle” data is based on single-family home repeat sales in King, Pierce, and Snohomish counties.
Note that the tiers are determined by sale volume. In other words, 1/3 of all sales fall into each tier. For more details on the tier methodologies, hit the full methodology pdf. Here are the current tier breakpoints:
- Low Tier: < $283,101 (down 0.9%)
- Mid Tier: $283,101 – $444,476
- Hi Tier: > $444,476 (down 1.1%)
First up is the straight graph of the index from January 2000 through December 2013.
Here’s a zoom-in, showing just the last year:
After gaining the most during the summar months, the low tier fell the most in December. Between November and December, the low tier fell 1.0, the middle tier dropped 0.2%, and the high tier lost 0.6%.
Here’s a chart of the year-over-year change in the index from January 2003 through December 2013.
Year-over-year changes were virtually unchanged for all three tiers in December. Here’s where the tiers sit YOY as of December – Low: +20.0%, Med: +14.4%, Hi: +10.2%.
Lastly, here’s a decline-from-peak graph like the one posted yesterday, but looking only at the Seattle tiers.
Current standing is 26.2% off peak for the low tier, 18.1% off peak for the middle tier, and 14.5% off peak for the high tier.
(Home Price Indices, Standard & Poor’s, 02.25.2014)