mercer island SINGLE-FAMILY HOME - MAY 2 0 2 4
▶ MARKET SUMMARY There were 30 single-family home listings in Mercer Island in May, 88% above April and 9% lower than May 2023.
MONTHS OF INVENTORY 1.2
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 11%
▲ 13%
▼ 9%
▲ 8%
SELLERS' MARKET
VS 2023
VS 2023
VS 2023
VS 2023
May single-family home sales increased by 18% month-over-month, to 26, and were 8% above May 2023.
PREVIOUS YEAR
No.
No.
% Change
No.
% Change
The months of inventory for single-family home in Mercer Island, at 1.2, reflected a sellers' market.
26 30
24 33
11% 13% -16% 8% -9%
22 16
59% 18% 88%
TOTAL INVENTORY
The single-family home median price in May was $2,520,500, a 0.1% decrease from April and 13% above May 2023.
TOTAL SALES
$3,409,786 $2,522,500 0.7
$3,060,135 $2,520,500 1.2
$2,745,905 $2,231,110 1.4
MONTHS OF INVENTORY
The average sold price was $3,060,135, 10% below last month and up 11% to May 2023.
-10% -0.1%
MEDIAN SOLD PRICE
AVERAGE SOLD PRICE
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
39
39 33
36
35
31
30
30
33
28
26
30
24
26
22
24
19
17
16
15
12
16
16
10
14
11
11
10
7
$2.98M
$2.54M $2.56M
$2.52M $2.52M
$2.35M
$2.30M $2.27M
$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
8
4.0
4.0
6
2.7
4
0.8
0.6
0.5
0.4
2
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+
1 0 n/a
8 3 0.4
3 8 2.7
5 3 0.6
4 3 0.8
1 4 4.0
2 1 0.5
2 8 4.0
MOI INVENTORY SALES
Information and statistics derived from Northwest Multiple Listing Service. Copyright © June 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 June 10, 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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