January 2019 Real Estate Market Update

February 12, 2019 | by Erin Sirianni

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Even with all the recent snow, real estate activity on Mercer Island has continued, and we saw 13 properties go under contract since the snow started falling last week.

However, we also believe this weather has had an impact. We are aware that a number of new listings are delayed in coming to the market, especially now that mid-winter break is next week. With Mercer Island, Seattle, and Bellevue school districts all on break, many sellers will wait until the following week to list in order to provide their properties with the best market exposure.

We also expect that many buyers did not venture out in the snow, and with delayed listings resulting in lower inventory this month, we may see a burst of buying energy in the early spring real estate season.

On another note, we are in the process of re-designing our entire My Mercer Island website, and we are simplifying and re-designing our monthly market updates as well. We welcome your feedback and suggestions as we continue this process. Here’s how you can contact us.

Please find trends and statistics for Mercer Island’s January real estate market below.

January 2019 Real Estate Market Stats

Single-Family Residential Market

  • 28 new listings
  • 11 pending properties
  • 19 sold properties
  • Median sale price:  $1,671,000
  • Average sale price: $1,753,913
  • Lowest sale price:  $960,000
  • Highest sale price:  $3,150,000

Mercer Island Condo Market

  • 3 new listings
  • 1 pending property
  • 2 sold properties
  • Lowest sale price:  $483,500
  • Highest sale price:  $979,000