Sat Dec 07 2019
This week the median list price for Mercer Island, WA is $2,272,000 with the market action index hovering around 34. This is less than last month's market action index of 35. Inventory has held steady at or around 66.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$2,272,000|
|Per Square Foot||$601|
|Days on Market||190|
|Slight Seller's Advantage|
The market has started cooling and prices have been flat for several weeks. 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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$5,240,000||4,826||0.25 - 0.5 acre||5||3||22||0||0||294|
|$2,852,500||4,631||0.25 - 0.5 acre||4||4||14||0||2||162|
|$1,998,000||4,380||0.25 - 0.5 acre||5||3||22||0||1||190|
|$1,350,000||3,182||0.25 - 0.5 acre||4||2||46||0||5||116|