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Which Seattle median home price is the actual median home price?

Median house prices are up! Ah, but what does that really mean when there is more than one median?

Median house prices are climbing so quickly it is hard to keep up with the numbers. Median house prices are up 15.9 percent to $666K, or is it 11.4 percent to $462K, or is it 9.14 percent to $420K? They're all numbers that are excellent from an investment perspective, a boost for sellers, and worrisome for buyers. And in case you didn't notice, none of them agree.

It might be handy to dive into the derivation of the numbers, but that might be difficult. Each report comes from a different source, and some protect their methods to protect their competitive edge. Each report comes out at different times, including data taken at different timeframes. It also wouldn't be a surprise to learn that they have varying definitions of "Seattle." Some might include the Eastside and even Tacoma.

We can't explain the differences, but we can pass along a snapshot of how they compare. Recent reports and data compiled on public web sites were pulled together to see who is highest, lowest, and closest to the middle. The winner of the median of the median contest is a near tie: Redfin at $550K and Trulia at $562K. Zillow is a bit higher at $585K.

The differences are easy to get lost in, but it is all the more reason to look at the percentages because they're calculated from the same assumptions, databases, and perspectives. The median house price is definitely something to pay attention to; but the median house doesn't exist. Buyers and sellers aren't buying and selling statistics, they're buying and selling houses - and every house is unique.
Condos, well, that's another story...
· Repent & Refinance: Seattle median single-family home prices now $666K [CS]
· Seattle’s already historic housing prices boomed again in June [CS]
· You need to make $83K to afford a median price home in Seattle [CS]
· Overview of Seattle Real Estate Trends [Redfin]
· Seattle Real Estate Market Overview [Trulia]
· Seattle Home Prices & Values [Zillow]