Your Local Market Report
Mercer Island, WA
Single-Family Homes
SeattlebyDesign Team, Realogics Sotheby's I.R.
Mercer Island, WA
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 been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Real-Time Market Profile
| Median List Price | $2,175,000 | |
| Per Square Foot | $568 | |
| Days on Market | 102 | |
| Price Decreased | 45% | |
| Price Increased | 0% | |
| Relisted | 13% | |
| Inventory | 93 | |
| Median House Rent | ||
| Most Expensive | $18,888,000 | |
| Least Expensive | $918,000 | |
| Market Action Index Slight Seller's Advantage | 37 |
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. 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 |
|---|---|---|---|---|---|---|---|---|
| $4,600,000 | 5,230 | 0.5 - 1 acre | 5 | 4 | 18 | 3 | 3 | 176 |
| $2,599,950 | 4,142 | 0.25 - 0.5 acre | 5 | 4 | 1 | 1 | 1 | 102 |
| $1,889,000 | 3,980 | 0.25 - 0.5 acre | 5 | 3 | 43 | 5 | 2 | 76 |
| $1,318,500 | 2,536 | 0.25 - 0.5 acre | 4 | 2 | 48 | 5 | 2 | 55 |