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 | January 2020
Check out the real estate stats for last month on Mercer Island as they compare to market activity in January 2019.
- 36 homes for sale | -33 compared to one year ago
- 21 homes under contract | +3 compared to one year ago
- 8 homes sold | -11 compared to one year ago
- 113 – Average number of days homes spent on the market | +69 compared to one year ago
- Homes sold for an average of 95.7% of list price.
Design Spotlight
This month, we’ve hopped across the lake to feature interior design in a Seattle home in the Sunset Hill neighborhood. This property is sure to inspire anyone considering a refresh to their mid-century modern interior on Mercer Island. Seattle interior designer Heidi Caillier executed this “Remodelista-inspired” project, and you can learn the behind the scenes on this design in House Beautiful.
More photos and info at Heidi Caillier Design →
What’s happening in the market now?
It’s a strong seller’s market on Mercer Island and across the Seattle area. Inventory is down 40 to 50%, depending on the area, compared to last year at this time. Buyer competition is intense for the few listings that have come available, and offer review dates, pre-inspections, and escalation clauses are back. On Mercer Island, ramblers have been the hot commodity in February, and buyers have especially been interested in properties located on the north end of the island. Many properties are going under contract with a week; though the market is more balanced for properties priced above $2 million.
Brought to you by The Sirianni Group
This market update is brought to you by Erin and Charlie Sirianni, co-founders of The Sirianni Group – partners in your real estate success.
If you are considering listing your home, contact us today for a complimentary market analysis and property valuation of your home, plus a home preparation consultation.
Learn more about The Sirianni Group at www.siriannigroup.com.
