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.

Mercer Island new listings, pending sales, homes for sale, and homes sold for the past 15 months (single-family homes – does not include condos)*


*Trendgraphix data may vary from other data provided in this monthly market update. For example, while a listing may appear to be a “new listing” to Trendgraphix, it may have been canceled and re-entered into the MLS as a strategy to repopulate IDX feeds. Additionally, town homes are occasionally listed as both a single-family home and as a condominium home. We filter for these types of “new” listings and duplicate listings.

 

Mercer Island absorption rate based on homes sold for the past 15 months (single-family homes)*


The absorption rate indicates how quickly homes are selling. It is calculated by taking the number of properties sold divided by the number of properties for sale (as a percentage). In a buyer’s market, the absorption rate is 16.67% or lower. In a balanced market, the absorption rate range is from 16.67% to 33.33%, and in a seller’s market, the absorption rate is 33.33% and above.

 

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

Mercer Island Single-Family Home Sales – January 2019

Here’s our monthly report with data for all single-family home sales on Mercer Island (not including unlisted sales). If you’re curious about a recent sale in your neighborhood, you can learn the details with a quick glance at the report below or by clicking on the map for sale details.

Click here for a full-size PDF.

Current Mercer Island Listings

By Home Type / Location

By Price


If you are in need of real estate services, we would love to help. Get in touch today. Check out all of our recent sales here, visit our Listings Portfolio here, and read our testimonials here.

Charlie Sirianni / JD,  CRS, ABR
Managing Broker | Premier Associate
Windermere Mercer Island
Call: 206-992-6151
Email: [email protected]
Erin Sirianni / CRS, ABR
Residential Broker | Premier Associate
Windermere Mercer Island
Call: 206-992-5272
Email: [email protected]