Your Local Market Report

Mercer Island, WA

Single-Family Homes

SeattlebyDesign Team, Realogics Sotheby's I.R.



Mercer Island, WA

Sat Aug 17 2019
This week the median list price for Mercer Island, WA is $2,175,000 with the market action index hovering around 36. This is less than last month's market action index of 37. Inventory has held steady at or around 93. Click here to stay informed with the Mercer Island market!

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 started cooling and prices have recently plateaued. Since 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.

Mercer Island, WA

Sat Aug 17 2019
This week the median list price for Mercer Island, WA is $2,175,000 with the market action index hovering around 36. This is less than last month's market action index of 37. Inventory has held steady at or around 93. Click here to stay informed with the Mercer Island market!

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 started cooling and prices have recently plateaued. Since 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

Never miss important changes in the Mercer Island market.
Median List Price $2,175,000
Per Square Foot $574
Days on Market 117
Price Decreased 52%
Price Increased 1%
Relisted 13%
Inventory 93
Median House Rent
Most Expensive $18,888,000
Least Expensive $849,000
Market Action Index
Slight Seller's Advantage
36

While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers are tending to get more home for their money.

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
$3,798,000 5,080 0.25 - 0.5 acre 5 4 17 1 3 196
$2,750,000 4,142 0.25 - 0.5 acre 5 3 12 2 2 105
$1,788,000 3,801 0.25 - 0.5 acre 5 3 43 1 6 103
$1,279,000 2,545 0.25 - 0.5 acre 4 2 52 2 2 65