12% of Home Sales Over $1m

The Seattle Times dug into the numbers to find that, not surprisingly, million dollar home sales are increasing, Not just mansions anymore: Record number of Seattle-area homes fetching $1 million:

Nearly 12 percent of all single-family houses sold in King County so far this year have fetched more than $1 million, easily double the average rate over the last decade, according to sales data crunched by Windermere Real Estate.

At the same time, the other end of the market has all but disappeared. Now, less than 5 percent of homes fit into the cheapest price bracket of less than $250,000, down from an average of nearly 15 percent over the last decade.

The rise in million-dollar home sales has been slowly building for five years but is now growing much faster than normal. This year, by the time September rolled around, the county had already seen more seven-figure sales than in any other full year.