Your Local Market Report
Mercer Island, WA
Single-Family Homes
SeattlebyDesign Team, Realogics Sotheby's I.R.
Mercer Island, WA
Mon Mar 25 2019
This week the median list price for Mercer Island, WA is $2,595,000 with the market action index hovering around 33. This is about the same as last month's market action index of 33. Inventory has held steady at or around 81.
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
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Real-Time Market Profile
| Median List Price | $2,595,000 | |
| Per Square Foot | $651 | |
| Days on Market | 127 | |
| Price Decreased | 31% | |
| Price Increased | 0% | |
| Relisted | 5% | |
| Inventory | 81 | |
| Median House Rent | $3,250 | |
| Most Expensive | $18,888,000 | |
| Least Expensive | $950,000 | |
| Market Action Index Slight Seller's Advantage | 33 |
This week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in general over the last several weeks.
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 |
|---|---|---|---|---|---|---|---|---|
| $5,315,000 | 5,592 | 0.5 - 1 acre | 5 | 4 | 17 | 0 | 0 | 303 |
| $3,043,975 | 4,292 | 0.25 - 0.5 acre | 5 | 4 | 1 | 1 | 0 | 84 |
| $1,999,725 | 3,620 | 8,000 - 10,000 sqft | 4 | 3 | 17 | 5 | 2 | 70 |
| $1,298,000 | 2,500 | 0.25 - 0.5 acre | 4 | 2 | 62 | 5 | 3 | 57 |