Your Local Market Report
Mercer Island, WA
Single-Family Homes
SeattlebyDesign Team, Realogics Sotheby's I.R.
Mercer Island, WA
Fri Sep 20 2019
This week the median list price for Mercer Island, WA is $2,298,000 with the market action index hovering around 34. This is less than last month's market action index of 36. Inventory has held steady at or around 91.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $2,298,000 | |
| Per Square Foot | $600 | |
| Days on Market | 131 | |
| Price Decreased | 49% | |
| Price Increased | 1% | |
| Relisted | 19% | |
| Inventory | 91 | |
| Median House Rent | $3,300 | |
| Most Expensive | $18,888,000 | |
| Least Expensive | $849,000 | |
| Market Action Index Slight Seller's Advantage | 34 |
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 |
|---|---|---|---|---|---|---|---|---|
| $4,345,000 | 5,503 | 0.25 - 0.5 acre | 5 | 4 | 18 | 2 | 1 | 231 |
| $2,798,000 | 4,130 | 0.25 - 0.5 acre | 4 | 3 | 12 | 1 | 0 | 126 |
| $1,849,500 | 4,002 | 0.25 - 0.5 acre | 5 | 3 | 43 | 2 | 2 | 112 |
| $1,200,000 | 2,460 | 0.25 - 0.5 acre | 3 | 2 | 55 | 5 | 3 | 62 |