Real Estate Market Update for Mercer Island, WA
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Welcome to January's Market Update. Let's take a look at residential real-estate activity in your area during the month of January. The number of active listings was stable from one year earlier and down 11% from the previous month These latest figures mean that buyers had a more limited selection of homes to choose from compared to the previous month. As you can see, the median listing price for the month... was just under 1.45-million dollars. Compared to last year, the average number of days units spent on the market before being sold was down 35% This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 850-thousand dollars. The number of units sold Decreased 15% year-over-year and Decreased 37% month-over-month Fewer sales may be indicating more opportunity for buyers to negotiate better sales terms. 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.
Map Information for Mercer Island, WA
Area Information for Mercer Island, WA
  • Population: 22,885
  • Median Age: 35.13 yr
  • Median Commute Time: 21.24 mins
  • Educational Climate*: 5
  • Recycling Likelihood**: 140
  • Sales Tax: 5%
  • Population Density: 3,612/sq mi
  • Population Change Since 2000: 4%
  • Closest Airport: Boeing Field/king County International
  • Closest College: Devry University
  • Closest Jr. College: Bellevue Community College
  • Median Household Income: $118,890
  • Annual Residential Turnover: 18.88%
  • Median Years in Residence: 3.86 yr
  • Median Home Sales Price: $739,500
  • Closest Major Sports Team: Seattle Seahawks
  • Change Avg. Household Income Since 2000: 27%
* Scale from 1-5** Index where 100 is the national average
Demographic Data for Mercer Island, WA
Median Age: 35.13 Married: 52% Number of Households: 9,194 Households with Children: 3,154
Community:
    • 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 Mercer Island, WA

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      St. Monica School 0.5 mi Catholic PRESCHOOL-8 0 5
      Northwest Yeshiva High School 0.5 mi Private 9-12 0 5
      Island Park Elementary School 0.6 mi Public K-5 5 5
      West Mercer Elementary School 0.6 mi Public K-5 5 5
      Mercer Island High School 0.7 mi Public 9-12 4-5 4
      Children's Institute For Learning 0.8 mi Private UNGRADE-UNGRADE 0 4
      Privett Academy 1.2 mi Private 7-12 0 0
      Etc Preparatory Academy 1.3 mi Private 3-12 0 0
      French-american School Of Puget Sound 1.4 mi Private PRESCHOOL-8 0 5
      Early World Montessori 1.5 mi Private PRESCHOOL-K 0 0
      Islander Middle School 1.7 mi Public 6-8 5 4
      Lakeridge Elementary School 2.0 mi Public K-5 5 5
      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: GreatSchools.org and Onboard Informatics 2014
      Local Weather for Mercer Island, WA
        Community information and market data Powered by Onboard Informatics. Copyright ©2014 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.