Your Local Market Report
Mercer Island, WA
Single-Family Homes
SeattlebyDesign Team, Realogics Sotheby's I.R.
Mercer Island, WA
Fri Apr 03 2020
This week the median list price for Mercer Island, WA is $2,375,000 with the market action index hovering around 47. This is an increase over last month's market action index of 44. Inventory has held steady at or around 47.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $2,375,000 | |
| Per Square Foot | $633 | |
| Days on Market | 135 | |
| Price Decreased | 11% | |
| Price Increased | 2% | |
| Relisted | 4% | |
| Inventory | 47 | |
| Median Rent | $4,300 | |
| Most Expensive | $18,888,000 | |
| Least Expensive | $1,047,000 | |
| Market Action | 47 | |
| Strong Seller's Market | ||
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
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 | 4,993 | 0.5 - 1 acre | 5 | 3 | 24 | 1 | 1 | 422 |
| $3,199,000 | 5,045 | 0.25 - 0.5 acre | 5 | 4 | 9 | 3 | 0 | 46 |
| $1,897,475 | 4,045 | 0.25 - 0.5 acre | 4 | 3 | 36 | 2 | 2 | 77 |
| $1,422,500 | 3,030 | 0.25 - 0.5 acre | 4 | 2 | 52 | 8 | 5 | 16 |