Your Local Market Report

Mercer Island, WA

Single-Family Homes

SeattlebyDesign Team, Realogics Sotheby's I.R.



Mercer Island, WA

Tue May 11 2021
This week the median list price for Mercer Island, WA is $2,698,000 with the market action index hovering around 87. This is an increase over last month's market action index of 78. Inventory has increased to 17. Click here to stay informed with the Mercer Island market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Mercer Island, WA

Tue May 11 2021
This week the median list price for Mercer Island, WA is $2,698,000 with the market action index hovering around 87. This is an increase over last month's market action index of 78. Inventory has increased to 17. Click here to stay informed with the Mercer Island market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Mercer Island market.
Median List Price $2,698,000
Median Price of New Listings $2,180,000
Per Square Foot $683
Average Days on Market 189
Median Days on Market 7
Price Decreased 24%
Price Increased 6%
Relisted 29%
Inventory 17
Median Rent
Market Action 87
Slight Seller's Advantage

The market’s light downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$9,269,000 6,217 0.5 - 1 acre 5 5 22 1 0 220
$3,199,494 4,305 0.25 - 0.5 acre 4 3 61 1 2 42
$2,180,000 4,329 0.25 - 0.5 acre 4 3 38 3 2 7
$1,698,000 2,680 0.25 - 0.5 acre 4 2 48 3 4 0