It is a little late for this but it’s been a few months so I wanted to make sure we posted the update on Case-Shiller’s three price tiers.
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: < $334,320 (down 0.2%)
- Mid Tier: $334,320 – $532,269
- Hi Tier: > $532,269 (down 0.1%)
All three tiers are increasing month-over-month, and look to be setting up another year of big price increases.
Between December and January, the low tier increased 0.5 percent, the middle tier rose 0.5 percent, and the high tier was up 0.5 percent. Somehow this translates to an overall increase of 0.6 percent.