Mercer Island, WA Home Values & Market Trends
Real estate market trends reflect that there have been 282 transactions over the past year in Mercer Island. The median value for residential home transactions that occurred over the previous year is $2,263,623. The number of current listings in Mercer Island is 867, and the percentage of properties for sale in the city is 867.00%. Mercer Island, WA currently has 6 properties in foreclosure, 0 bank owned properties, 4 properties headed for auction, and 867 properties for sale.
Mercer Island, WA Real Estate Market Overview
| Zip | Median Est. Value |
|---|---|
| 98040 | $ 2,263,623 $ 807/sqft |
Housing Market Summary for Mercer Island, WA
| 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 Mercer Island, WA
Browse Homes in Mercer Island, WA
Mercer Island home values range from $295,000 to $30,833,601. The median estimated value of a home in Mercer Island is $2,263,623. The median list price of a home is 2,395,000, and the total count of properties in the city is 1,006.
- Pre-ForeclosurePre-foreclosure homes account for 0.20% of all residential properties in Mercer Island, WA with 98040 containing 2 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Mercer Island, WA; of that zips, the estimated home value for pre-foreclosure homes ranges from $610,000 in 98040 to the lowest home value of $393,702 in 98040.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Mercer Island, WA 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 Mercer Island, WA. There is 1 zips within Mercer Island, WA; N/A containing 0 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions98040 has 4 auction properties, the highest number of properties going to auction in a single zip in the state of Mercer Island, WA. Auction homes and other auction properties account for 0.40% of all properties in Mercer Island, WA. There is 1 zips within Mercer Island, WA; of that zips, the median estimated home value for homes going to auction ranges from $3,288,592 in 98040 to the lowest value of $1,172,046 in 98040.
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Guide for Mercer Island, WA
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.
