Mercer Island, WA Home Values & Market Trends
Real estate market trends reflect that there have been 274 transactions over the past year in Mercer Island. The median value for residential home transactions that occurred over the previous year is $2,246,838.13. The number of current listings in Mercer Island is 8, and the percentage of properties for sale in the city is 8.00%. Mercer Island, WA currently has 2 properties in foreclosure, 1 bank owned properties, 1 properties headed for auction, and 8 properties for sale.
Mercer Island, WA Real Estate Market Overview
Zip | Median Est. Value |
---|---|
98040 | $ 2,219,250 $ 872/sqft |
Housing Market Summary for Mercer Island, WA
Apr 2023 | March 2024 | Change | |
---|---|---|---|
Median Listing Price | $2.2M | $2.1M | -5.91% |
Median Sold Price | $2.1M | $2.1M | -0.23% |
Homes For Sale | 10 | 7 | -30.00% |
Homes Sold | 159 | 186 | 16.98% |
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 $26,308 to $52,902,926. The median estimated value of a home in Mercer Island is $2,246,838.13. The median list price of a home is 2,524,000, and the total count of properties in the city is 8,142.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Mercer Island, WA with $[pre-foreclosures-highest-count-region] containing 0 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 $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Mercer Island, WA ranges from the highest value of $1,799,900 in 98040 to the lowest value of $1,799,900 in 98040. Bank owned homes and properties account for 0.01% of properties in Mercer Island, WA. There is 1 zips within Mercer Island, WA; 98040 containing 1 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions98040 has 1 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 0.01% 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 $2,514,577 in 98040 to the lowest value of $2,514,577 in 98040.
Compare Nearby Cities
More Real Estate Resources for Mercer Island, WA
Guide for Mercer Island, WA
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Washington Foreclosure Laws
Information on foreclosure financing, refinancing, and foreclosure mortgages.