Case-Shiller Tiers: January Sets Up Another Strong Year

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.

Case-Shiller: Seattle Home Prices Up, Up, Up In January

Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to November data that was released this morning, Seattle-area home prices were:

Up 0.6 percent December to January
Up 11.3 percent year-over-year.
Up 7.9 percent from the July 2007 peak

Over the same period a year earlier prices were up 0.1 percent month-over-month and year-over-year prices were up 10.5 percent.

Seattle home prices as measured by Case-Shiller inched up yet again to a new all-time high in January.

NWMLS: Record Low For Listings, Sales Slip Slightly

February market stats have been published by the NWMLS this week. Here’s their press release.

Housing Inventory Reaches Record Low

Home buyers are in a spring mood, but sellers are still hibernating, suggested one broker while commenting about the latest statistics from Northwest Multiple Listing Service. Figures for February and feedback from brokers indicate record-low inventory is spurring multiple offers, rising prices, fewer sales, and frustrated house-hunters.

“Our robust market has created extreme conditions, and we’re seeing frenzy hot activity on each new listing coming on the market,” reported J. Lennox Scott, chairman and CEO of John L. Scott. “We’re also experiencing some of the lowest inventory levels on record,” he noted.

Frenzy hot! Mad hot! Crazy hot! Hot hot HOT!

February Stats Preview: Still No Relief In Sight For Buyers

With February in the books, let’s take a look at the local housing market stats for the month. Short story: If home buyers were hoping things might start to look better for them, they were disappointed. There is still almost no supply and plenty of demand. Here’s the snapshot of all the data as far […]

Case-Shiller: Seattle Home Prices Keep Edging Up

It’s a bit late, but we’re doing this anyway. Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to November data that was released this morning, Seattle-area home prices were: Up 0.6 percent November to December Up 10.8 percent year-over-year. Up 7.3 percent from the July 2007 peak Over […]

More Homes Sold In Cheaper South King Neighborhoods

Get unlimited access to the full spreadsheets used to make the charts in this and other posts, and support the ongoing work of this site by becoming a member of Seattle Bubble. It’s been quite a while since we took a look at the in-county breakdown data from the NWMLS to see how the sales […]

Around the Sound: Even Far From Seattle, No Relief For Buyers

Get access to the full spreadsheets used to make the charts in this and other posts, and support the ongoing work on this site by becoming a member of Seattle Bubble. Let’s have a look at our housing stats for the broader Puget Sound area. Here’s your July update to our “Around the Sound” statistics […]