mercer island SINGLE-FAMILY HOME - JULY 2 0 2 4
MONTHS OF INVENTORY 1.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 8% VS 2023
▲ 5% VS 2023
▲ 35% VS 2023
▲ 7% VS 2023
There were 42 single-family home listings in Mercer Island in July, 14% above June and 35% higher than July 2023. July single-family home sales increased by 19% month-over-month, to 32, and were 7% above July 2023. The months of inventory for single-family home in Mercer Island, at 1.3, reflected a sellers' market. The single-family home median price in July was $2,337,500, a 17% decrease from June and 5% above July 2023. The average sold price was $3,017,703, 12% below last month and up 8% to July 2023.
PREVIOUS YEAR
No.
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
32 42
30 31
8% 5% 27% 7% 35%
27 37
-12% -17% -4% 19% 14%
$3,017,703 $2,337,500 1.3
$3,425,748 $2,800,000 1.4
$2,800,350 $2,225,000 1.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
36
42
35
37
33
30
30
32
31
28
30
24
28
22
27
21
26
19
16
15
12
16
16
10
14
11
11
10
8
$2.98M
$2.80M
$2.54M $2.56M
$2.52M $2.52M
$2.35M
$2.34M
$2.30M $2.27M
$2.23M
$2.11M
$2.05M
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
10
10.0
8
6
4
1.5
1.5
2
1.0
1.0
1.0
0.5
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
MOI INVENTORY SALES
0 1 n/a
2 3 1.5
8 4 0.5
8 8 1.0
4 4 1.0
6 9 1.5
3 3 1.0
1 10 10.0
Information and statistics derived from Northwest Multiple Listing Service. Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of August 6, 2024. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 35 ●
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