All posts filed under: Quarter / Year in Reviews

2016 Real Estate Year in Review for Seattle, Mercer Island and the Eastside

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Quarter / Year in Reviews

YEAR END 2016 REVIEWS: Click to view annual market reports for Mercer Island, Seattle and The Eastside. Published January 2017   WATERFRONT ANNUAL REPORT: Click to view the year end waterfront report for Mercer Island, Seattle and the Greater Eastside. Published January 2017   CONDO ANNUAL REPORT: Click to view the year end condo report for Mercer Island, Seattle and the Greater Eastside. Published January 2017   REPORT OVERVIEWS: Mercer Island  Mercer Island’s real estate market […]

Q3 2016 Real Estate Reviews for Seattle, Mercer Island and the Eastside

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Quarter / Year in Reviews

MERCER ISLAND Like many of our local metro area communities, Mercer Island’s real estate market has continued to thrive—thanks in no small part to strong employment growth in Puget Sound’s tri-county region. Considering that the average sale price on Mercer Island has risen more than 60% over the past five years, few homeowners would find fault with the growth of their Island real estate investments. Two distinctly separate markets emerged on the Island in the […]

Q2 2016 Real Estate Reviews for Seattle, Mercer Island and the Eastside

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Quarter / Year in Reviews

Seattle Report With rent prices increasing at an even faster pace than home appreciation, it’s no wonder so many residents are opting to own rather than rent. Monthly housing costs increased a modest 2% in Q2 over those in Q1 and 12% over Q2 of 2015. Seattle experienced very strong price appreciation in Q2 as compared to the surrounding region. Affordable North Seattle continues to be a hotbed of activity with price increases to show […]

Q1 2016 Real Estate Reviews for Seattle, Mercer Island and the Eastside

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Quarter / Year in Reviews

Seattle Report Affordability is the buzzword this quarter as inventory continues to be extremely tight and prices escalate faster than wages can keep up. Monthly housing costs increased 7% in Q1 over those in Q4 and 21% over Q1 of 2015. Wow! With wage growth in the 3-5% range it’s easy to see why affordability is a topic of discussion. Sellers commanded the market in the first quarter with record low levels of inventory to […]

2015 Real Estate Year in Review for Seattle, Mercer Island and the Eastside

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Quarter / Year in Reviews

Mercer Island Benefiting from the economic strength of the Greater Seattle region, Mercer Island saw the median sale price of single-family homes increase by 10.6% to $1,199,500 continuing a three-year trend of double-digit appreciation on the island. The average sale price increased 8.4% to $1,518,164. There were 329 homes sold in 2015. A continued shortage of homes for sale limited buyers’ choices significantly. Of those 329 homes, 66% (219 homes) had a sale price above […]

Q3 2015 Real Estate Reviews for Seattle, Mercer Island and the Eastside

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Quarter / Year in Reviews

Mercer Island The biggest news on Mercer Island has been the near absence of available homes priced under one million dollars—yes, $1,000,000. Those few that come to market are often snatched up by home builders looking for future new home sites. Sadly, Mercer Island is becoming less and less affordable as time goes on. Fewer high-end sales have balanced the small number of lower-priced home sales, leaving the average sale price deceptively, well, average, when […]

Q2 2015 Real Estate Reviews for Seattle, Mercer Island and the Eastside

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Quarter / Year in Reviews

Mercer Island The number of homes for sale on Mercer Island continues to be the lowest in a decade. Many would-be homeowners want to call the Island home, but fewer want to move off of the ‘rock’. Its average of 53 homes for sale in Q2 is down from 86 in 2014 and 93 in 2013—and a high of 195 in 2009. Lack of options has significantly deterred Island buyers and forced them to either […]

Q1 2015 Real Estate Reviews for Seattle, Mercer Island and the Eastside

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Quarter / Year in Reviews

Mercer Island Mercer Island’s struggle with lack of inventory for sale has dealt a crushing blow to sales—the number of homes sold were down 30% to a mere 45 in Q1. Two-thirds of those sales (29) were of homes priced above $1 million. Currently, Mercer Island currently has very few homes for sale below a million dollars—making it tough for the average home buyer to purchase on Mercer Island. “Driven by strong buyer demand, the […]

2014 Year in Review for Seattle, Eastside and Mercer Island

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Quarter / Year in Reviews

Mercer Island The Mercer Island real estate market saw the median sale price of single-family homes increase by 12% to $1,084,750. This follows a significant 13% increase in 2013 to equal a compounded 27% increase in the past two years. The average sale price increased nearly 15% to just above $1.4 million. There were 338 homes sold in 2014, down from 353 homes sold in 2013. This is in large part due to a shortage […]

3rd Quarter 2014 Reports Released for Mercer Island, Seattle and the Eastside

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Quarter / Year in Reviews

Mercer Island Mercer Island is challenged by the smallest number of homes on the market for sale in years. Lack of choice has prompted many buyers to sit on the fence and wait for more suitable choices. As of the date of this report, only 14 homes were listed for sale below one million dollars—the lowest number in the nearly two decades we have been keeping track. The net result was 8% fewer sales in […]