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Record number of Seattle homes sell for $1 million

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SEATTLE (AP) _ A record number of homes in King County have sold for more than $1 million in 2016.

The Seattle Times reports ( ) that so far this year about 12 percent of all single-family houses sold in King County have cost more than $1 million, doubling the average rate over the last decade.

Data from Windermere Real Estate shows that while the number of seven-figure homes is rising, the other end of the market _ homes less than $250,000 _ are disappearing. Less than 5 percent of homes sold in 2016 have fit into the lowest bracket, down from an average of nearly 15 percent over the last decade.

According to an analysis by Trulia published in May, the share of million-dollar homes in Seattle is more than twice the national big0city average and is climbing faster than other cities.

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