Your Local Market Report
Mercer Island, WA
Single-Family Homes
SeattlebyDesign Team, Realogics Sotheby's I.R.
Mercer Island, WA
Mon Nov 19 2018
This week the median list price for Mercer Island, WA is $2,350,000 with the market action index hovering around 32. This is about the same as last month's market action index of 32. Inventory has held steady at or around 73.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
Slight Seller's Advantage
In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.
Real-Time Market Profile
| Median List Price | $2,350,000 | |
| Per Square Foot | $645 | |
| Days on Market | 120 | |
| Price Decreased | 42% | |
| Price Increased | 0% | |
| Relisted | 12% | |
| Inventory | 73 | |
| Median House Rent | $2,650 | |
| Most Expensive | $18,888,000 | |
| Least Expensive | $799,950 | |
|
Market Action Index
Slight Seller's Advantage |
32 |
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
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 |
|---|---|---|---|---|---|---|---|---|
| $6,590,000 | 5,462 | 0.5 - 1 acre | 4 | 4 | 16 | 0 | 3 | 276 |
| $2,724,500 | 4,263 | 0.25 - 0.5 acre | 5 | 3 | 10 | 0 | 2 | 67 |
| $1,999,849 | 3,445 | 0.25 - 0.5 acre | 4 | 3 | 19 | 2 | 2 | 75 |
| $1,250,000 | 2,500 | 0.25 - 0.5 acre | 4 | 2 | 55 | 1 | 3 | 64 |