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

Thu Jun 20 2024
This week the median list price for Mercer Island, WA 98040 is $3,750,000 with the market action index hovering around 66. This is an increase over last month's market action index of 64. Inventory has increased to 27. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Mercer Island, WA 98040

Thu Jun 20 2024
This week the median list price for Mercer Island, WA 98040 is $3,750,000 with the market action index hovering around 66. This is an increase over last month's market action index of 64. Inventory has increased to 27. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Mercer Island market.
Median List Price $3,750,000
Median Price of New Listings $3,422,500
Per Square Foot $1,031
Average Days on Market 50
Median Days on Market 35
Price Decreased 26%
Price Increased 7%
Relisted 15%
Inventory 27
Median Rent
Market Action 66
Strong Seller's Market

We continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.

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
$11,625,000 5,933 0.5 - 1 acre 5 5.5 28 1 0 59
$4,380,000 3,971 0.25 - 0.5 acre 5 5 16 1 2 21
$2,850,000 3,680 0.25 - 0.5 acre 4 4 34 1 2 35
$2,250,000 2,967 0.25 - 0.5 acre 4 3 59 1 4 35