Median Price Fell Across King County in September

It’s time once again to take an updated look at how King County’s sales are shifting between the different regions around the county, since geographic shifts can and do affect the median price.

In order to explore this concept, we break King County down into three regions, based on the NWMLS-defined “areas”:

  • low end: South County (areas 100-130 & 300-360)
  • mid range: Seattle / North County (areas 140, 380-390, & 700-800)
  • high end: Eastside (areas 500-600)

Here’s where each region’s median prices came in as of August data:

  • low end: $228,500-$370,000
  • mid range: $329,475-$658,000
  • high end: $470,000-$1,602,500

First up, let’s have a look at each region’s (approximate) median price (actually the median of the medians for each area within the region).

Median Price of Single Family Homes Sold

The median price in all three tiers fell between August and September. The low tier dropped 3.2% in the month, the middle tier fell 4.9%, and the high tier lost 2.3%. All three tiers are of course still up year-over-year. Low tier: +18.1%, middle tier: +11.8%, high tier: +7.2%.

Next up, the percentage of each month’s closed sales that took place in each of the three regions. The dotted line is a four-month rolling average.

% of Total King Co. SFH Sales by NWMLS Area

The share of sales that are taking place in the most expensive parts of the county fell slightly last month, while sales share in the cheap parts of the county increased.

As of September 2013, 31.5% of sales were in the low end regions, 34.2% in the mid range, and 34.3% in the high end. A year ago the low end regions had more of the share and the mid range less: In September 2012 the low end made up 32.5% of the sales, the mid range was 32.0%, and the high end was 35.4%.

Here’s that information in a visual format:

Bank-Owned: Share of Total Sales - King County Single-Family

Finally, here’s an updated look at the percentage of sales data all the way back through 2000:

% of Total King Co. SFH Sales by NWMLS Area since 2000

Even after the dip in high tier sales share this month, the expensive regions still had the most sales, which is a relatively rare situation.

0.00 avg. rating (0% score) - 0 votes

About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.