98040 Home Values & Market Trends
There are 867 homes currently listed for 98040. 98040 real estate market trends show that home prices range from $5,000 to $19,500,000, and the median sales price in the 98040 zip code is $2,263,623. The total number of properties sold within the past twelve months is 282. In 98040, 6 properties are in foreclosure, 0 are bank owned properties,and 4 are headed for auction.
Housing Market Summary for 98040
| Sep 2025 | September 2026 | Change | |
|---|---|---|---|
| Median Listing Price | $2.5M | $2.4M | -2.79% |
| Median Sold Price | $2.4M | $2.5M | 2.52% |
| Homes For Sale | 739 | 863 | 16.78% |
| Homes Sold | 166 | 127 | -23.49% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in 98040
Browse Homes in 98040
The median list price of a home in Mercer Island, is $2,263,623. A total of 867 properties are for sale, and the percentage of properties for sale in the zip code is 867.00%. The total count of 98040 properties is 1,006.
- Pre-ForeclosurePre-foreclosure homes account for 0.20% of all residential properties in 98040 with mercer island containing 2 pre-foreclosures, the highest number of pre-foreclosure properties in a single city. There is 1 cities within 98040; of that cities, the estimated home value for pre-foreclosure homes ranges from $610,000 in mercer island to the lowest home value of $393,702 in mercer island.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in 98040 ranges from the highest value of $0 in N/A to the lowest value of $0 in N/A. Bank owned homes and properties account for 0% of properties in 98040. There is 1 cities within 98040; N/A containing 0 REO properties, has the highest number of bank owned properties in a single city.
- Auctionsmercer island has 4 auction properties, the highest number of properties going to auction in a single city in the state of 98040. Auction homes and other auction properties account for 0.40% of all properties in 98040. There is 1 cities within 98040; of that cities, the median estimated home value for homes going to auction ranges from $3,288,592 in mercer island to the lowest value of $1,172,046 in mercer island.
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More Real Estate Resources for 98040
Guide for 98040
Washington Foreclosure Laws
Foreclosure is a term that can sometimes lead to confusion for those looking to make a real estate investment. In simple terms, it refers to the process where a lender takes possession of a property after the owner fails to keep up with their mortgage payments. When it comes to land, this means that buyers […]
Descubre todo lo que necesitas saber sobre cómo comprar una casa en ejecución hipotecaria.
Learn how to buy a foreclosed home in Chicago, Illinois.
