May 2016 Real Estate Market Update

I’m pleased to introduce a new series on My Mercer Island – a monthly real estate market report providing a birds’ eye view of current inventory and prices on Mercer Island. I also share my favorite listings and observations of what’s happening in our local market.

Is there a specific home on the market that you’re interested in?  Feel free to get in touch if you have any questions. I try to see every new home on the market, and I’m always happy to help.

Mercer Island May 2016 Market Report

Single-Family Residential Homes*

• 35 new listings
• 25 sold homes
• Average sales price: $1,447,018
• Lowest sales price:  $862,300
• Highest sales price:  $2,519,000
• Homes sold under $1 million:  5
• Homes sold between $1-2 million: 18
• Homes sold over $2 million:  2

*Non-waterfront

Waterfront Homes on Mercer Island

• 6 new listings (2 Westside; 4 Eastside)
• 4 sold homes  (2 Westside; 2 Eastside)
• Lowest sales price: $2,290,500 (Eastside)
• Highest sales price: $7,500,000 (Westside)

Downtown Condos

• 5 new listings
• 8 sold listings
• Lowest sales price: $315,000
• Highest sales price: $1,075,000

Tales from on Tour

I’m happy to see that inventory has picked up on Mercer Island.  Spring is a busy time in real estate, and the last few months have brought nearly 150 new listings to Mercer Island.  Historically, this is still a little low, but if you hear that there is no inventory on Mercer Island, it’s not quite true. In fact, there were nine homes listed last month under the $1 million mark on Mercer Island – two are still on the market!

Notable Listings

My favorite listings that are currently on the market include this Fred Bassetti mid-century modern home, which just had a significant price reduction to $2,195,000. It has a beautiful forest-like setting and the views are spectacular. It was appropriately featured on Curbed.com.

I absolutely love this westside Northwest Contemporary – which you need to visit in person to truly appreciate – especially the dreamy views of Lake Washington and Seattle city skyline.

I also enjoyed seeing this colorful mid-century modern by architect Blaine McCool. It has been nicely updated and maintained and is also home to one of the original Seattle Pigs on Parade (not included with home purchase).

This south-end rambler is charming and beautifully maintained, and the backyard could be your own private arboretum as it borders Pioneer Park.

In pre-sale and new construction listings, I love the elegant shingle-style design (and floorplan!) of this Gallagher Co. home. Summerwell Homes also listed another pre-sale residence last month: Homesite 6 for $2,588,000. (Homesite 15 is also on the market for $3,188,000.)

Listing info courtesy NWMLS / Ina Bahner, Windermere Mercer Island; Marianne Parks & Mary Lou Putman, Windermere Mercer Island; Derenda Sweeney, Real Living NW Realtors; Nancy LaVallee, Windermere Mercer Island; Katie Penny Shea, Coldwell Banker Bain; and Michele Schuler, Coldwell Banker Bain.

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Considering buying or selling a home on Mercer Island? We’d love to help. Erin is a local neighborhood expert and a residential real estate broker with Windermere Mercer Island. She is co-founder of the Sirianni Group, in partnership with her husband, Charlie Sirianni. Charlie is a Mercer Island native, Managing Broker with Windermere Mercer Island, and former real estate attorney of 10+ years. Get in touch with Erin (email / phone) or Charlie (email / phone) today.

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