{"id":104517,"date":"2017-05-09T10:53:56","date_gmt":"2017-05-09T17:53:56","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=104517"},"modified":"2017-05-09T11:07:01","modified_gmt":"2017-05-09T18:07:01","slug":"sales-fall-off-cheap-king-county-neighborhoods","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/","title":{"rendered":"Sales Fall Off In Cheap King County 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 a few months since we took a look at the in-county breakdown data from the NWMLS to see how the sales mix shifted around the county. I like to keep an eye on this not only to see how individual neighborhoods are doing but also to see how the sales mix shift affects the overall county-wide median price.<\/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 April data:<\/p>\n<ul>\n<li><strong>low end:<\/strong> $330,000-$520,000<\/li>\n<li><strong>mid range:<\/strong> $559,950-$964,250<\/li>\n<li><strong>high end:<\/strong> $699,475-$2,203,000<\/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\/05\/NWMLS-King-Region-Breakdown-Median-LT_2017-04.png\" title=\"Median Price of Single Family Homes Sold\" rel=\"lightbox[104517]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown-Median-LT_2017-04.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>All three tiers saw large month-over-month gains in their respective median-median price, and they all three set a new all-time record high. Month-over-month, the median price in the low tier rose 6.7 percent, the middle tier increased 6.4 percent, and the high tier gained 3.6 percent.<\/p>\n<p>Twenty-eight of the twenty-nine NWMLS regions in King County with single-family home sales in April had a higher median price than a year ago, while fifteen had a month-over-month increase in the median price. The only area that had a lower median price than a year ago was <a href=\"http:\/\/seattlebubble.com\/blog\/nwmls-kc-breakouts\/\" title=\"NWMLS King County Neighborhood Definitions and Map\">Area 390, Capitol Hill\/Madison Park<\/a>.<\/p>\n<p>Here&#8217;s how the median prices changed year-over-year. Low tier: up 16.9 percent, middle tier: up 23.4 percent, high tier: up 19.7 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\/05\/NWMLS-King-Region-Breakdown_2017-04.png\" title=\"% of Total King Co. SFH Sales by NWMLS Area\" rel=\"lightbox[104517]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown_2017-04.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 the low and middle tiers fell between March and April, but the high tier saw a slight gain. Month-over-month sales were down 8.2 percent in the low tier, down 1.9 percent in the middle tier, and up 5.8 percent in the high tier.<\/p>\n<p>Meanwhile, year-over-year sales fell in all three tiers. Compared to a year ago, sales decreased 2.0 percent in the low tier, fell 4.8 percent in the middle tier, and dropped 10.7 percent in the high tier.<\/p>\n<p>After a few months of the low tier dominating the sales mix and the high tier making up a near record-low portion of sales, the mix has started to shift back toward a more normal mix, with cheap sales falling off and expensive sales gaining back ground. This kind of move will make the overall county-wide median increase even if all the regions weren&#8217;t seeing price gains individually.<\/p>\n<p>As of April 2017, 35.8 percent of sales were in the low end regions (up from 34.5 percent a year ago), 35.4 percent in the mid range (up from 35.1 percent a year ago), and 28.8 percent in the high end (down from 30.4 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\/05\/NWMLS-King-Region-Breakdown-bars_2017-04.png\" title=\"Bank-Owned: Share of Total Sales - King County Single-Family\" rel=\"lightbox[104517]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown-bars_2017-04.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\/05\/NWMLS-King-Region-Breakdown-LT_2017-04.png\" title=\"% of Total King Co. SFH Sales by NWMLS Area since 2000\" rel=\"lightbox[104517]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown-LT_2017-04.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>It&#8217;s interesting that despite the shift in the sales mix away from the cheap regions and toward the expensive regions, the county-wide median price increased <em>less<\/em> year-over-year than all three of the price tier aggregate regions. If the sales mix continues moving away from the cheap regions, I expect the next few months to see even bigger gains in the county-wide median price.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s been a few months since we took a look at the in-county breakdown data from the NWMLS to see how the sales mix shifted around the county. I like to keep an eye on this not only to see how individual neighborhoods are doing but also to see how the sales mix shift affects the overall county-wide median price.<\/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 April data:<\/p>\n<ul>\n<li><strong>low end:<\/strong> $330,000-$520,000<\/li>\n<li><strong>mid range:<\/strong> $559,950-$964,250<\/li>\n<li><strong>high end:<\/strong> $699,475-$2,203,000<\/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)&#8230;<\/p>\n","protected":false},"author":2,"featured_media":104519,"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: Sales Fall Off In Cheap King County 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-104517","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>Sales Fall Off In Cheap King County 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\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Sales Fall Off In Cheap King County Neighborhoods \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"It&#039;s been a few months since we took a look at the in-county breakdown data from the NWMLS to see how the sales mix shifted around the county. I like to keep an eye on this not only to see how individual neighborhoods are doing but also to see how the sales mix shift affects the overall county-wide median price.  In order to explore this concept, we break King County down into three regions, based on the NWMLS-defined &quot;areas&quot;:   low end: South County (areas 100-130 &amp; 300-360)  mid range: Seattle \/ North County (areas 140, 380-390, &amp; 700-800)  high end: Eastside (areas 500-600)  Here&#039;s where each region&#039;s median prices came in as of April data:   low end: $330,000-$520,000  mid range: $559,950-$964,250  high end: $699,475-$2,203,000   First up, let&#039;s have a look at each region&#039;s (approximate) median price (actually the median of the medians for each area within the region)...\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown_2017-04.png\" \/>\n<meta name=\"twitter:creator\" content=\"@The_Tim\" \/>\n<meta name=\"twitter:site\" content=\"@SeattleBubble\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Tim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/\",\"name\":\"Sales Fall Off In Cheap King County Neighborhoods \u2022 Seattle Bubble\",\"isPartOf\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown_2017-04.png\",\"datePublished\":\"2017-05-09T17:53:56+00:00\",\"dateModified\":\"2017-05-09T18:07:01+00:00\",\"author\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\"},\"breadcrumb\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/#primaryimage\",\"url\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown_2017-04.png\",\"contentUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown_2017-04.png\",\"width\":910,\"height\":661},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seattlebubble.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sales Fall Off In Cheap King County Neighborhoods\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\",\"url\":\"https:\/\/seattlebubble.com\/blog\/\",\"name\":\"Seattle Bubble\",\"description\":\"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\",\"name\":\"The Tim\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"caption\":\"The Tim\"},\"description\":\"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. 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I like to keep an eye on this not only to see how individual neighborhoods are doing but also to see how the sales mix shift affects the overall county-wide 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 &amp; 300-360)  mid range: Seattle \/ North County (areas 140, 380-390, &amp; 700-800)  high end: Eastside (areas 500-600)  Here's where each region's median prices came in as of April data:   low end: $330,000-$520,000  mid range: $559,950-$964,250  high end: $699,475-$2,203,000   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)...","twitter_image":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown_2017-04.png","twitter_creator":"@The_Tim","twitter_site":"@SeattleBubble","twitter_misc":{"Written by":"The Tim","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/","url":"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/","name":"Sales Fall Off In Cheap King County Neighborhoods \u2022 Seattle Bubble","isPartOf":{"@id":"https:\/\/seattlebubble.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/#primaryimage"},"image":{"@id":"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/#primaryimage"},"thumbnailUrl":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown_2017-04.png","datePublished":"2017-05-09T17:53:56+00:00","dateModified":"2017-05-09T18:07:01+00:00","author":{"@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f"},"breadcrumb":{"@id":"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/#primaryimage","url":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown_2017-04.png","contentUrl":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2017\/05\/NWMLS-King-Region-Breakdown_2017-04.png","width":910,"height":661},{"@type":"BreadcrumbList","@id":"https:\/\/seattlebubble.com\/blog\/2017\/05\/09\/sales-fall-off-cheap-king-county-neighborhoods\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/seattlebubble.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Sales Fall Off In Cheap King County Neighborhoods"}]},{"@type":"WebSite","@id":"https:\/\/seattlebubble.com\/blog\/#website","url":"https:\/\/seattlebubble.com\/blog\/","name":"Seattle Bubble","description":"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f","name":"The Tim","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70","url":"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g","caption":"The Tim"},"description":"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. 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