Here’s our monthly snapshot of the latest trends and data for the Mercer Island residential real estate market.
Mercer Island Real Estate by the Numbers | February 2020
Check out the real estate stats for last month on Mercer Island as they compare to market activity in February 2019.
- 37 homes for sale | -39 compared to one year ago
- 31 homes under contract | +11 compared to one year ago
- 20 homes sold | +6 compared to one year ago
- 152 – Average number of days homes spent on the market | +72 compared to one year ago
- Homes sold for an average of 101.1% of list price.
Design Spotlight
This month we’re thrilled to feature Marianne Simon Design, a Seattle-based full service design firm known for creating calm yet uniquely personal interiors that honor both classic and current elements. This gallery showcases her stunning work in a traditional home located in the Seattle area.
More photos and info at Marianne Simon Design →
Mercer Island Real Estate by the Numbers | March 2020
Check out the real estate stats for last month on Mercer Island as they compare to market activity in March 2019.
- 43 homes for sale | -44 compared to one year ago
- 25 homes under contract | +2 compared to one year ago
- 28 homes sold | +5 compared to one year ago
- 75 – Average number of days homes spent on the market | +31 compared to one year ago
- Homes sold for an average of 100.4% of list price.
Coronavirus and the Mercer Island real estate market
The coronavirus has dramatically changed our real estate activities and behaviors – as it has in nearly every industry – with strict safety protocols now in place in regard to showings and listing activities.
In regard to the numbers for Mercer Island, it’s too early to tell how it will impact sales, as we aren’t seeing big changes in the data as of yet. Even with the shutdown in place for the second half of the month, the number of new listings (41) in March on Mercer Island was similar compared to last year, and the number of properties that went under contract (25) was also similar compared to last year, though somewhat lower compared to 2018 and 2017.
However, across King County, the number of new residential listings in March was down about 10% and the number of pending residential sales was down about 15%. Looking at just the Eastside, the number of new residential listing in March was down about 15% and the number of pending residential sales was down about 25%.
We are available to answer any real estate-related questions in regard to COVID-19 and the “Stay Home” order.
Brought to you by The Sirianni Group
This market update is brought to you by Erin and Charlie Sirianni, a real estate team with Windermere – Mercer Island. We serve clients on Mercer Island and throughout the greater Seattle area.
Learn more about The Sirianni Group at www.siriannigroup.com and feel free to contact us at 206-992-5272 with questions or to set up a complimentary home buying or listing consultation.
