{"id":104334,"date":"2017-02-14T08:40:59","date_gmt":"2017-02-14T16:40:59","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=104334"},"modified":"2017-02-14T08:40:59","modified_gmt":"2017-02-14T16:40:59","slug":"homes-sold-cheaper-south-king-neighborhoods","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2017\/02\/14\/homes-sold-cheaper-south-king-neighborhoods\/","title":{"rendered":"More Homes Sold In Cheaper South King Neighborhoods"},"content":{"rendered":"<p><em>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 <a href=\"http:\/\/seattlebubble.com\/blog\/membership\/\" title=\"Seattle Bubble Membership\">becoming a member of Seattle Bubble<\/a>.<\/em><\/p>\n<p>It&#8217;s been quite a while since we took a look at the in-county breakdown data from the NWMLS to see how the sales mix shifted around the county.<\/p>\n<p>In order to explore this concept, we break King County down into three regions, based on <a href=\"http:\/\/seattlebubble.com\/blog\/nwmls-kc-breakouts\/\" title=\"NWMLS Area Map\">the NWMLS-defined &#8220;areas&#8221;<\/a>:<\/p>\n<ul>\n<li><strong>low end:<\/strong> South County <em>(areas 100-130 &amp; 300-360)<\/em><\/li>\n<li><strong>mid range:<\/strong> Seattle \/ North County <em>(areas 140, 380-390, &amp; 700-800)<\/em><\/li>\n<li><strong>high end:<\/strong> Eastside <em>(areas 500-600)<\/em><\/li>\n<\/ul>\n<p>Here&#8217;s where each region&#8217;s median prices came in as of January data:<\/p>\n<ul>\n<li><strong>low end:<\/strong> $310,000-$429,500<\/li>\n<li><strong>mid range:<\/strong> $469,250-$800,000<\/li>\n<li><strong>high end:<\/strong> $649,995-$1,508,750<\/li>\n<\/ul>\n<p>First up, let&#8217;s have a look at each region&#8217;s (approximate) median price (actually the median of the medians for each area within the region).<\/p>\n<p style=\"margin:5px auto; font-size:0.8em; text-align:center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/02\/NWMLS-King-Region-Breakdown-Median-LT_2017-01.png\" title=\"Median Price of Single Family Homes Sold\" rel=\"lightbox[104334]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/02\/NWMLS-King-Region-Breakdown-Median-LT_2017-01.png\" style=\"border: 0\" title=\"Median Price of Single Family Homes Sold - Click to enlarge\" alt=\"Median Price of Single Family Homes Sold\" \/><\/a><\/p>\n<p>Only the low tier saw a month-over-month gain in its respective median-median price, while the middle and high tiers both fell slightly. All three tiers are currently at a level lower than their respective all-time highs. Month-over-month, the median price in the low tier rose 0.3 percent, the middle tier decreased 3.3 percent, and the high tier lost 1.2 percent.<\/p>\n<p>Twenty-five of the twenty-nine NWMLS regions in King County with single-family home sales in January had a higher median price than a year ago, while Fifteen had a month-over-month increase in the median price.<\/p>\n<p>Here&#8217;s how the median prices changed year-over-year. Low tier: up 19.2 percent, middle tier: up less than 0.1 percent, high tier: up 13.8 percent.<\/p>\n<p>Next up, the percentage of each month&#8217;s closed sales that took place in each of the three regions.<\/p>\n<p style=\"margin:5px auto; font-size:0.8em; text-align:center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/02\/NWMLS-King-Region-Breakdown_2017-01.png\" title=\"% of Total King Co. SFH Sales by NWMLS Area\" rel=\"lightbox[104334]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/02\/NWMLS-King-Region-Breakdown_2017-01.png\" style=\"border: 0\" title=\"% of Total King Co. SFH Sales by NWMLS Area - Click to enlarge\" alt=\"% of Total King Co. SFH Sales by NWMLS Area\" \/><\/a><\/p>\n<p>Sales in all three tiers fell between December and January, with the middle and high tiers seeing the biggest dips. Month-over-month sales were down 21.8 percent in the low tier, down 30.1 percent in the middle tier, and down 29.0 percent in the high tier.<\/p>\n<p>Meanwhile, year-over-year sales were up considerably in all three tiers. Compared to a year ago, sales increased 25.1 percent in the low tier, rose 25.8 percent in the middle tier, and gained 8.7 percent in the high tier.<\/p>\n<p>The interesting thing is the strong shift in the sales mix in recent mix away from the high tier and into the low tier.<\/p>\n<p>As of January 2017, 41.3 percent of sales were in the low end regions (up from 39.7 percent a year ago), 31.8 percent in the mid range (up from 30.4 percent a year ago), and 26.9 percent in the high end (down from 29.8 percent a year ago).<\/p>\n<p>Here&#8217;s that information in a visual format:<\/p>\n<p style=\"margin:5px auto; font-size:0.8em; text-align:center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/02\/NWMLS-King-Region-Breakdown-bars_2017-01.png\" title=\"Bank-Owned: Share of Total Sales - King County Single-Family\" rel=\"lightbox[104334]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/02\/NWMLS-King-Region-Breakdown-bars_2017-01.png\" style=\"border: 0\" title=\"Bank-Owned: Share of Total Sales - King County Single-Family - Click to enlarge\" alt=\"Bank-Owned: Share of Total Sales - King County Single-Family\" \/><\/a><\/p>\n<p>Finally, here&#8217;s an updated look at the percentage of sales data all the way back through 2000:<\/p>\n<p style=\"margin:5px auto; font-size:0.8em; text-align:center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/02\/NWMLS-King-Region-Breakdown-LT_2017-01.png\" title=\"% of Total King Co. SFH Sales by NWMLS Area since 2000\" rel=\"lightbox[104334]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/02\/NWMLS-King-Region-Breakdown-LT_2017-01.png\" style=\"border: 0\" title=\"% of Total King Co. SFH Sales by NWMLS Area since 2000 - Click to enlarge\" alt=\"% of Total King Co. SFH Sales by NWMLS Area since 2000\" \/><\/a><\/p>\n<p>With sales shifting strongly into the lower-priced regions, it&#8217;s no surprise that the county-wide median price fell slightly. The last time this large a share of sales were in the low-tier parts of the county was in November 2007, just a few months after home prices peaked.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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&#8217;s been quite a while since we took a look at the in-county breakdown data from the NWMLS to see how the sales&#8230;<\/p>\n","protected":false},"author":2,"featured_media":104338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"On the blog: More Homes Sold In Cheaper South King Neighborhoods","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8,217],"tags":[841,149,6,200],"coauthors":[1158],"class_list":["post-104334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stats","category-neighborhoods","tag-king-geographic-sales","tag-median","tag-nwmls","tag-statistics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>More Homes Sold In Cheaper South King Neighborhoods \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2017\/02\/14\/homes-sold-cheaper-south-king-neighborhoods\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"More Homes Sold In Cheaper South King Neighborhoods \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"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. 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