May. 25, 2009 - King County % change in Home Values

As a result of all of the posts written yesterday below, and the ones I have done the math for but have yet to write above this post, I've come up with an approximate formula for Home PrIce Changes in portions King County.  When calculating by School District, I can't do Seattle, because all of Seattle is the same school district.  So this method is of no value.

But I can compare the School District results to King County as a whole.  As you will see in the posts after this one, I have segregated a certain style of home that is fairly uniform from place to place.  This gives us a % change for a similar product in different places.

This method puts:

Lake Washington School District down 16% from peak

Bellevue School District down 19% from peak

Issaquah School District down 22% from peak

Northshore, Renton and Federal Way School Districts down 25% from peak

King County as a whole down 28%

This method excludes new construction for the most part, as this style of home is rarely built in recent history.  Consequently the % change in value is higher than numbers you might see that include new construction. It also excludes the added value of view considerations. It also excludes any pressure from the high end market priced over $800,000 by coincidence vs. design.

In some areas new construction pulls the median prices up, in some areas high end is suffering the most...consequently this analysis is in many cases the great equalizer of data sample.

Required disclosure Stats are not compiled, verified or posted by NWMLS