School may be back in session, but technically there are still 11 days of summer. On sunny days like today, I’m tempted by a late afternoon or early evening visit to the beach. But first, here’s a quick look back at what happened last month in Mercer Island real estate.
Consistent with seasonal trends, the Mercer Island real estate market continued to slow in August, and the stats were very similar to July. We saw 35 total new residential and condo listings in August, compared to 37 in the previous month. There were a few more sales month over month – August brought 42 sold homes compared to 37 sold homes in July.
It was an unusually busy month for Mercer Island’s condo market with 8 sold homes, representing 20% of all sales, with prices ranging from $252,000 to $1,100,000. There were also 5 new condo listings, down from 8 condo listings in July.
We also took a closer look at waterfront stats this month and noticed that after several good months of increased sales (6 in July!) and new listings (usually 6 or 7 each month), the waterfront market also slowed down with just 3 new listings and 2 sold homes in August.
We’re optimistic about the fall real estate market season, and activity already started picking up again last week.
Mercer Island Waterfront – new listings, pending sales, homes for sale, and homes sold for the past 12 months
Mercer Island new listings, pending sales, homes for sale, and homes sold for the past two years (all residential – does not include condos)
August 2017 Real Estate Market Update
Overview of residential / condominium market:
- 69 active listings (as of 9/11/17)
- 35 new listings in August (37 in July)
- 42 sold homes in August (August 2016: 39 sold homes)
Single-Family Residential Homes*
- 27 new listings
- 32 sold homes (August 2016: 37)
- Average sales price: $1,496,100
- Median sales price: $1,417,500
- Lowest sales price: $875,000
- Highest sales price: $2,410,000
- Homes sold under $1 million: 3
- Homes sold between $1 – 2 million: 24
- Homes sold over $2 million: 5
- 3 new listings (3 North Mercer / North End)
- 2 sold homes (2 Eastside)
- Lowest sales price: $2,180,000
- Highest sales price: $4,600,000
- 5 new listings
- 8 sold listings
- Lowest sales price: $252,000
- Highest sales price: $1,100,000
Mercer Island “Nosy Neighbor Report” – August 2017
Here’s our new monthly “nosy neighbor” report with all data for all residential sales on Mercer Island (not including unlisted sales). If you’re curious about a recent sale in your neighborhood, you can learn the details with a quick glance at this report:
Current Mercer Island Listings
By Home Type / Location
- Mercer Island Condos
- Single-Family Residential Homes (All)
- New Construction Homes
- Waterfront Homes
- Search by Neighborhood
- $1 million or less
- $1 million to $1.5 million
- $1.5 million to $2 million
- $2 million to $2.5 million
- $2.5 million to $3 million
- $3 million to $4 million
- $4 million to $5 million
- $5 million or more
Sirianni Real Estate Group News & Notes
I was happy to be recognized recently as a Five Star Professional Rising Star real estate agent. It’s an award based on performance and peer recommendation (you can learn more about Five Star Professional here). It was also unexpected, and I’m thankful for our wonderful clients, great colleagues, and getting to do the work I do. It’s always nice to get a “gold star”!
Despite the summer slowdown, we were busy on and off Mercer Island. Our listing in Bellevue’s Woodridge neighborhood is now pending, and we were excited to help clients purchase a home for their family on Mercer Island (closing this week).
Questions? Feel free to reach out anytime!
Windermere Mercer Island
My MI Founder & Editor / Residential Broker
Windermere Mercer Island