mercer island SINGLE-FAMILY HOME - MARCH 2 0 2 4
MONTHS OF INVENTORY 0.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 25% VS 2023
▼ 0.9% VS 2023
▼ 63% VS 2023
▼ 27% VS 2023
There were 14 single-family home listings in Mercer Island in March, 18% below February and 63% lower than March 2023. March single-family home sales increased by 60% month-over-month, to 16, and were 27% below March 2023. The months of inventory for single-family home in Mercer Island, at 0.9, reflected a sellers' market. The single-family home median price in March was $2,980,000, a 41% increase from February and 25% above March 2023. The average sold price was $2,952,960, 26% above last month and down 0.9% to March 2023.
PREVIOUS YEAR
No.
% Change
No.
No.
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
16 14
22 38
-0.9% 25% -49% -27% -63%
10 17
26% 41% -49% 60% -18%
$2,952,960 $2,980,000 0.9
$2,343,250 $2,107,500 1.7
$2,979,364 $2,385,000 1.73
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
37
33 39
37
38
31
30
33
28
31
26
30
30
24
22
24
19
17
16
20
15
12
14
16
10
11
11
10
7
$2.98M
$2.54M $2.56M
$2.38M
$2.35M
$2.30M $2.27M
$2.19M $2.23M $2.15M $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
7
1.8
6
5
1.0
4
0.3
3
0.1
2
1
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
1 1 1.0
4 7 1.8
3 1 0.3
7 1 0.1
1 0 n/a
0 4 n/a
Copyright © April 10, 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 April 10, 2024. All data from Northwest Multiple Listing Service & rennie. 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. 3 4 ●
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