Your Local Market Report
Mercer Island, WA
Single-Family Homes
SeattlebyDesign Team, Realogics Sotheby's I.R.
Mercer Island, WA
Mon Jan 20 2020
This week the median list price for Mercer Island, WA is $2,624,980 with the market action index hovering around 37. This is an increase over last month's market action index of 36. Inventory has held steady at or around 41.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
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 | $2,624,980 | |
| Per Square Foot | $663 | |
| Days on Market | 255 | |
| Price Decreased | 27% | |
| Price Increased | 2% | |
| Relisted | 12% | |
| Inventory | 41 | |
| Median Rent | $4,500 | |
| Most Expensive | $18,888,000 | |
| Least Expensive | $897,000 | |
| Market Action | 37 | |
| Slight Seller's Advantage | ||
The market appears to be hovering around these current levels, though prices movved up a bit this week. The Market Action Index is a good leading indicator for the durability of this shift.
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 |
|---|---|---|---|---|---|---|---|---|
| $6,274,000 | 5,344 | 0.5 - 1 acre | 5 | 4 | 21 | 0 | 0 | 462 |
| $3,147,500 | 4,525 | 0.25 - 0.5 acre | 5 | 3 | 10 | 2 | 0 | 179 |
| $2,158,500 | 4,124 | 0.25 - 0.5 acre | 4 | 3 | 41 | 0 | 0 | 168 |
| $1,689,000 | 3,182 | 0.25 - 0.5 acre | 4 | 2 | 48 | 0 | 0 | 214 |