Your Local Market Report
Mercer Island, WA
Single-Family Homes
SeattlebyDesign Team, Realogics Sotheby's I.R.
Mercer Island, WA
Tue Mar 02 2021
This week the median list price for Mercer Island, WA is $2,999,500 with the market action index hovering around 62. This is an increase over last month's market action index of 60. Inventory has held steady at or around 13.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has begun to heat up in recent weeks. We’re already in a Seller’s market and not surprisingly prices are showing evidence of moving up along with the lower levels of inventory.
Real-Time Market Profile
| Median List Price | $2,999,500 | |
| Per Square Foot | $745 | |
| Days on Market | 35 | |
| Price Decreased | 15% | |
| Price Increased | 0% | |
| Relisted | 15% | |
| Inventory | 13 | |
| Median Rent | $8,000 | |
| Most Expensive | $17,800,000 | |
| Least Expensive | $1,485,000 | |
| Market Action | 62 | |
| Strong Seller's Market | ||
The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $6,280,000 | 5,000 | 1 - 2.5 acres | 5 | 3 | 25 | 0 | 0 | 364 |
| $3,300,000 | 4,611 | 0.25 - 0.5 acre | 5 | 3 | 31 | 0 | 1 | 28 |
| $2,998,000 | 4,019 | 0.25 - 0.5 acre | 4 | 4 | 24 | 1 | 1 | 28 |
| $2,172,500 | 3,350 | 0.25 - 0.5 acre | 3 | 2 | 52 | 2 | 3 | 17 |