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: < $257,807 (up 0.4%)
- Mid Tier: $257,807 – $412,889
- Hi Tier: > $412,889 (up 0.4%)
First up is the straight graph of the index from January 2000 through September 2012.
Here’s a zoom-in, showing just the last year:
Although it looked like the typical seasonal dip was beginning in the high and middle tiers last month, all three tiers turned back up in September. Between August and September, the low tier rose 0.9%, the middle tier was up 0.9%, and the high tier gained 0.2%.
Here’s a chart of the year-over-year change in the index from January 2003 through September 2012.
All three tiers are now firmly back in the black, showing year-over-year gains. Here’s where the tiers sit YOY as of September – Low: +1.8%, Med: +5.0%, Hi: +5.5%.
Lastly, here’s a decline-from-peak graph like the one posted yesterday, but looking only at the Seattle tiers.
Current standing is 38.4% off peak for the low tier, 29.0% off peak for the middle tier, and 22.3% off peak for the high tier.
(Home Price Indices, Standard & Poor’s, 11.27.2012)