Real Estate Market Update for 98040 (Mercer Island, WA)
Welcome to June's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was up 10% from one year earlier, and up 21% from the previous month. This continued upward trend reflected a healthy inventory for buyers to choose from. As you can see, the median listing price for the month was just under 2.6-million dollars. Compared to last year, the average number of days units spent on the market before being sold was up 82%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 1.6-million dollars. The number of units sold increased 11% year-over-year, and increased 31% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for 98040 (Mercer Island, WA)
Area Information for 98040 (Mercer Island, WA)
  • Population: 24,126
  • Median Age: 47.36 yr
  • Median Commute Time: 21 mins
  • Educational Climate*: 4
  • Sales Tax: 8%
  • Population Density: 3,817/sq mi
  • Population Change Since 2000: 9.48%
  • Closest Airport: Boeing Field/king County International
  • Closest College: City University
  • Closest Jr. College: Bellevue Community College
  • Median Household Income: $127,362
  • Annual Residential Turnover: 10%
  • Median Home Sales Price: $1,045,600
  • Closest Major Sports Team: Seattle Mariners
  • Change Avg. Household Income Since 2000: 27.79%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 98040 (Mercer Island, WA)
Median Age: 47.36 Married: 57% Number of Households: 9,720 Households with Children: 3,008
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 98040 (Mercer Island, WA)

      School Name Distance Type Grades School Rating Parent Rating
      Northwest Yeshiva High School 0.5 mi Private 9-12 0 0
      St. Monica School 0.5 mi Catholic PRESCHOOL-8 0 0
      Island Park Elementary School 0.6 mi Public K-5 5 0
      West Mercer Elementary School 0.6 mi Public K-5 5 0
      Mercer Island High School 0.7 mi Public 9-12 5 4
      Privett Academy 1.3 mi Private 7-12 0 0
      Yellow Wood Academy 1.3 mi Private K-12 0 0
      French American School Of Puget Sound 1.3 mi Private PRESCHOOL-8 0 0
      American Academy 1.4 mi Private 1-12 0 0
      Early World Montessori 1.4 mi Private PRESCHOOL-K 0 0
      Islander Middle School 1.7 mi Public 6-8 5 0
      Lakeridge Elementary School 2.1 mi Public K-5 5 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by School Review data by
      Local Weather for 98040 (Mercer Island, WA)
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.