Skip to content

Seattle Bubble

local real estate news, statistics, and commentary without the sales spin.

Menu
  • Home
  • About
  • Contact
  • Reference
  • Speaking
Menu

Case-Shiller Tiers: To. The. Moon.

Posted on March 28, 2018March 28, 2018 by The Tim

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: < $373,070 (up 0.2%)
  • Mid Tier: $373,070 – $604,377
  • Hi Tier: > $604,377 (up 0.3%)

First up is the straight graph of the index from January 2000 through January 2018.

Case-Shiller Tiered Index - Seattle

Here’s a zoom-in, showing just the last year:

Case-Shiller Tiered Index - Seattle

All three tiers are hitting new highs and setting up for another year of crazy gains. I keep hoping at some point we’ll see some sign of a slowdown, but so far… nothing.

Between December and January, the low tier increased 1.1 percent, the middle tier rose 0.5 percent, and the high tier was up 0.7 percent.

Here’s a chart of the year-over-year change in the index from January 2003 through January 2018.

Case-Shiller HPI - YOY Change in Seattle Tiers

Year-over-year price growth in January is well into double digits for all three tiers. The last time any tier was below 10 percent year-over-year growth was December 2016. Here’s where the tiers sit YOY as of January – Low: +14.1 percent, Med: +12.1 percent, Hi: +13.0 percent.

Lastly, here’s a decline-from-peak graph like the one posted earlier this week for the various Case-Shiller markets, but looking only at the Seattle tiers. All three tiers are well above their previous peak levels.

Case-Shiller: Decline from Peak - Seattle Tiers

Current standing is 13.3 percent above the 2007 peak for the low tier, 19.0 percent above the 2007 peak for the middle tier, and 25.1 percent above the 2007 peak for the high tier.

(Home Price Indices, Standard & Poor’s, 2018-03-27)

Share:

  • Twitter
  • LinkedIn
  • Facebook
  • Reddit
  • Pinterest
  • Email

Continue Reading

Next Post:
Case-Shiller: Seattle kicks off 2018 with surging home prices
Previous Post:
March Stats Preview: Sales slip slightly from last March

Tim’s Other Projects

Dispatches from the Multiverse

Tip Jar

Like what we're doing?

Drop us a tip!

Accounts

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
©2025 Seattle Bubble | Built using WordPress and Responsive Blogily theme by Superb