Single-Family Homes
Thu Apr 25 2024
This week the median list price for Mercer Island, WA is $2,195,000 with the market action index hovering around 68. This is an increase over last month's market action index of 58. Inventory has held steady at or around 15.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Median List Price | $2,195,000 | |
Median Price of New Listings | $1,790,000 | |
Per Square Foot | $857 | |
Average Days on Market | 67 | |
Median Days on Market | 21 | |
Price Decreased | 33% | |
Price Increased | 0% | |
Relisted | 13% | |
Inventory | 15 | |
Median Rent | ||
Market Action | 68 | |
Strong Seller's Market |
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.
Each segment below represents approximately 25% of the market ordered by price.
Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
---|---|---|---|---|---|---|---|---|
$15,500,000 | 7,410 | 0.5 - 1 acre | 5 | 6.3 | 20 | 0 | 0 | 161 |
$2,937,500 | 3,534 | 0.25 - 0.5 acre | 4 | 4.1 | 26 | 0 | 1 | 42 |
$2,084,475 | 3,170 | 0.25 - 0.5 acre | 4 | 2.6 | 67 | 1 | 1 | 17 |
$1,794,000 | 2,380 | 0.25 - 0.5 acre | 3 | 2.5 | 53 | 2 | 1 | 3 |