Is Mercer Island, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2021
Since last year, Mercer Island has remained a Seller's Market.
Key Takeaway
Mercer Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Mercer Island, WA cost?
Median Sold Price
$2,268,360
$774/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2021
+$592,526(+35.4%)
Key Takeaway
Homes in Mercer Island have sold for 35.4% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2021 | May 2022 | % |
|---|---|---|---|
| 1 Bedroom | $400K | $365K | -8.8%  |
| 2 Bedrooms | $595K | $638K | +7.2% |
| 3 Bedrooms | $1.3M | $1.7M | +34.3% |
| 4 Bedrooms | $1.7M | $2.4M | +37.7% |
| 5+ Bedrooms | $2.4M | $2.9M | +19.3% |
How many homes are available in Mercer Island, WA?
Number of Homes For Sale
| Apr 2022 | May 2022 | % |
|---|---|---|
| 78 | 82 | +5.1% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2022 | May 2022 | % |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7%  |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 10 | 14 | +40.0% |
| 4 Bedrooms | 35 | 38 | +8.6% |
| 5+ Bedrooms | 24 | 22 | -8.3% |
Number of Homes Sold
| Apr 2022 | May 2022 | % |
|---|---|---|
| 36 | 23 | -36.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mercer Island, you could pay more than the asking price. 78.3% of homes here sold above asking price last month.
Average Sale Time
| May 2021 | May 2022 | % |
|---|---|---|
| 17 Days | 5 Days | -68.2% |
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mercer Island are selling fast, if you're buying plan to act quickly.
Disclaimer: The information contained in this listing has not been verified and should be verified by the buyer. All information deemed reliable but not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. All properties are subject to prior sale, change or withdrawal. Neither broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 