Carrington Durr Group | Real Estate Market Report

Mercer Island, WA 98040

Single-Family Homes

John L Scott Real Estate | 206-948-3852 | wlc@johnlscott.com



Mercer Island, WA 98040

Fri Jul 26 2024
This week the median list price for Mercer Island, WA 98040 is $3,250,000 with the market action index hovering around 56. This is less than last month's market action index of 64. Inventory has increased to 37. 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.

Strong Seller's Market

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Mercer Island, WA 98040

Fri Jul 26 2024
This week the median list price for Mercer Island, WA 98040 is $3,250,000 with the market action index hovering around 56. This is less than last month's market action index of 64. Inventory has increased to 37. 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.

Strong Seller's Market

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Mercer Island market.
Median List Price $3,250,000
Median Price of New Listings $2,000,000
Per Square Foot $832
Average Days on Market 49
Median Days on Market 28
Price Decreased 30%
Price Increased 3%
Relisted 14%
Inventory 37
Median Rent
Market Action 56
Strong Seller's Market

The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict 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
$9,750,000 5,040 0.25 - 0.5 acre 5 5 34 0 0 84
$4,084,000 5,017 0.25 - 0.5 acre 5 5 23 1 0 28
$2,895,000 4,110 0.25 - 0.5 acre 4 4 39 1 1 28
$1,998,950 2,380 0.25 - 0.5 acre 3 3 61 7 4 0