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Non-Distressed Median at Highest Point in Over Four Years

Posted on June 14, 2013 by The Tim

As promised on Wednesday, 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 May, the non-distressed median price for King County single family home sales sits at $449,000, up 6.9% from a year earlier and up 0.9% from April. Last year the month-over-month increase was about the same, up 0.7% April to May.

The bank-owned median sale price was at $229,950 in May, up a whopping 25.2% from a year earlier. The short sale median price came in at $242,500 in May, up 7.1% 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 actually up more than the raw median, gaining 12.9% from 2012. The bank-owned median price per square foot shot up 32.0%, while the short sale median price per square foot was up 9.1%. This is the first time the bank-owned median price per square foot has come in higher than the short sale median price per square foot.

With the share of sales that are distressed now below 10%, these charts are quickly becoming less interesting than they were when bank-owned and short sales made up a third of the market.

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