Team Luxe Real Estate | Market Insights

Mercer Island, WA

Single-Family Homes

206-672-5724 | https://teamluxere.com/


Mercer Island, WA

Fri Oct 18 2024
This week the median list price for Mercer Island, WA is $3,324,000 with the market action index hovering around 42. This is less than last month's market action index of 44. Inventory has increased to 40. Click here to stay informed with the Mercer Island market!

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 been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Mercer Island, WA

Fri Oct 18 2024
This week the median list price for Mercer Island, WA is $3,324,000 with the market action index hovering around 42. This is less than last month's market action index of 44. Inventory has increased to 40. Click here to stay informed with the Mercer Island market!

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 been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Real-Time Market Profile

Never miss important changes in the Mercer Island market.
Median List Price $3,324,000
Median Price of New Listings $3,450,000
Per Square Foot $906
Average Days on Market 69
Median Days on Market 39
Price Decreased 38%
Price Increased 0%
Relisted 15%
Inventory 40
Median Rent
Market Action 42
Slight Seller's Advantage

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. 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
$10,484,000 5,102 0.25 - 0.5 acre 5 5 34 0 1 140
$4,074,500 4,300 0.25 - 0.5 acre 4 4.5 12 2 2 14
$2,697,500 3,544 0.25 - 0.5 acre 4 4 54 1 2 63
$1,798,500 2,195 0.25 - 0.5 acre 3 3 52 0 3 21