Team Luxe Real Estate | Market Insights
Mercer Island, WA
Single-Family Homes
206-672-5724 | https://teamluxere.com/
Mercer Island, WA
Sun Dec 22 2024
This week the median list price for Mercer Island, WA is $3,695,000 with the market action index hovering around 43. This is about the same as last month's market action index of 43. Inventory has decreased to 21.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market has achieved a relative stasis point in terms of supply and demand - conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result.
Real-Time Market Profile
| Median List Price | $3,695,000 | |
| Median Price of New Listings | $4,322,500 | |
| Per Square Foot | $916 | |
| Average Days on Market | 89 | |
| Median Days on Market | 84 | |
| Price Decreased | 33% | |
| Price Increased | 0% | |
| Relisted | 10% | |
| Inventory | 21 | |
| Median Rent | ||
| Market Action | 43 | |
| Slight Seller's Advantage | ||
Prices continue their climb again this week. We’re a long way from the market’s price high-point so watch the Market Action Index as an indicator of how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $12,985,000 | 5,163 | 0.5 - 1 acre | 5 | 5 | 31 | 0 | 1 | 140 |
| $4,200,000 | 5,320 | 0.25 - 0.5 acre | 5 | 5 | 0 | 2 | 0 | 35 |
| $3,450,000 | 3,970 | - | 4 | 4 | 37 | 0 | 0 | 63 |
| $2,293,999 | 2,760 | 0.25 - 0.5 acre | 4 | 3 | 58 | 0 | 0 | 87 |