{"id":9935,"date":"2010-03-09T12:06:29","date_gmt":"2010-03-09T20:06:29","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=9935"},"modified":"2010-03-11T08:40:06","modified_gmt":"2010-03-11T16:40:06","slug":"median-prices-still-crashing-in-some-neighborhoods","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2010\/03\/09\/median-prices-still-crashing-in-some-neighborhoods\/","title":{"rendered":"Median Prices Still Crashing in Some Neighborhoods"},"content":{"rendered":"<p>As we were digging through <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/03\/04\/nwmls-prices-flat-sales-slowly-climbing-up-from-lows\/\" title=\"\">the February data from the NWMLS<\/a>, some of us noticed something interesting.  While the county-wide median price was basically flat year-over-year, there is a pretty strong divergence from region to region around the county.<\/p>\n<p>Here&#8217;s what the YOY median price breakdown looks like at the region level:<\/p>\n<blockquote><p>SW King: <span style=\"color: #FF0000;\">-12.8%<\/span><br \/>\nSE King: <span style=\"color: #FF0000;\">-11.1%<\/span><br \/>\nSeattle: <span style=\"color: #008000;\">+1.4%<\/span><br \/>\nN. King: <span style=\"color: #FF0000;\">-17.2%<\/span><br \/>\nEastside: <span style=\"color: #008000;\">+1.0%<\/span><\/p><\/blockquote>\n<p>See what I mean?  Outside of Seattle proper and the Eastside, median prices still seem to be falling quite fast.  Eric Pryne at the Seattle Times noticed this as well, making it the focus of <a href=\"http:\/\/seattletimes.nwsource.com\/html\/businesstechnology\/2011259254_homesales05.html\" title=\"Home prices inch up on Eastside, in Seattle year-over-year\">his report last week<\/a>.<\/p>\n<p>In order to explore this further, I have taken the February data from the NWMLS and plugged it into a Tableau map.  Unfortunately, Tableau does not let you draw arbitrary boundary lines, so for the full map of the NWMLS areas with the boundary lines drawn, <a href=\"http:\/\/seattlebubble.com\/blog\/nwmls-kc-breakouts\/\" title=\"NWMLS King County Breakouts Feb.2002 - Present\">you&#8217;ll have to go here<\/a>.<\/p>\n<p><em>Hit the jump for the interactive map.<\/em><br \/>\n<!--more--><\/p>\n<div style=\"width: 600px; height: 900px;\">\n<script type=\"text\/javascript\" src=\"http:\/\/public.tableausoftware.com\/javascripts\/api\/viz_v1.js\"><\/script><object class=\"tableauViz\" width=\"604\" height=\"869\" style=\"display:none;\"><param name=\"name\" value=\"KC-Neighborhoods-Price\/KingCountyNeighborhoodPrices\" \/><param name=\"toolbar\" value=\"yes\" \/><\/object><noscript>King County Neighborhood Prices <br \/><a href=\"http:\/\/seattlebubble.com\/blog\/2010\/03\/09\/median-prices-still-crashing-in-some-neighborhoods\/\"><img loading=\"lazy\" decoding=\"async\" alt=\"King County Neighborhood Prices \" src=\"http:\/\/public.tableausoftware.com\/static\/images\/KC-Neighborhoods-Price-KingCountyNeighborhoodPrices_rss.png\" width=\"584\" height=\"820\" \/><\/a><\/noscript><\/p>\n<div style=\"width:604px;height:22px;padding:0px 10px 0px 0px; margin-top: -6px; color:black;font:normal 8pt verdana,helvetica,arial,sans-serif;\">\n<div style=\"padding-left: 488px;\"><a href=\"http:\/\/www.tableausoftware.com\/public?ref=http:\/\/public.tableausoftware.com\/views\/KC-Neighborhoods-Price\/KingCountyNeighborhoodPrices\" target=\"_blank\">Powered by Tableau<\/a><\/div>\n<\/div>\n<\/div>\n<p>With just three and six closed sales, Vashon and Mercer Islands saw the most extreme swings in their respective median prices, falling 38% on Vashon and rising a whopping 124% on Mercer.  Most of the other neighborhoods around King County fell within a more normal range, with the exception of the Capitol Hill area, where the median shot up over 45%.  That could be because last year that area saw just 17 sales in February.<\/p>\n<p>Ten of thirty areas saw YOY gains in their median prices.  The average gain among those ten was 22% (skewed high by Mercer), and the median gain was 6.4%.<\/p>\n<p>Of the twenty areas that saw YOY declines in their median price, the average loss was -12.2%, and the median was -13.2%.  In other words, in the neighborhoods where prices are still falling, they tend to still be falling pretty fast.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As we were digging through the February data from the NWMLS, some of us noticed something interesting. While the county-wide median price was basically flat year-over-year, there is a pretty strong divergence from region to region around the county. Here&#8217;s what the YOY median price breakdown looks like at the region level: SW King: -12.8%&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"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":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8,217],"tags":[149,1120,6,531],"coauthors":[],"class_list":["post-9935","post","type-post","status-publish","format-standard","hentry","category-stats","category-neighborhoods","tag-median","tag-neighborhoods","tag-nwmls","tag-tableau"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Median Prices Still Crashing in Some 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\/2010\/03\/09\/median-prices-still-crashing-in-some-neighborhoods\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Median Prices Still Crashing in Some Neighborhoods \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"As we were digging through the February data from the NWMLS, some of us noticed something interesting. 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