Inventory, Inventory, Inventory

I’ve argued before that despite the grim outlook nationally in real estate, Mercer Island has seen some price drops but overall is holding up well. Still true- but it’s worth watching the ever-increasing inventory on the Island.

There are 171 homes for sale on Mercer Island, according to Redfin. We’re definitely seeing the summer inventory build: this is a 7.5% increase from about two weeks ago, when there were 159 homes for sale. And Altos Research shows inventory building towards to the peak of last September.

Mercer Island homes for sale

Mercer Island Real Estate Inventory

The Seattle P-I reported that King County home prices in March were down about 2.2% from last year, but the real story is sales- 29% fewer single-family homes sold in March than a year ago. The market is sluggiush, and if you’re a buyer you’ve got a lot to chose from. Sellers have a lot of competition, but look on the bright side: we don’t live in Sacramento.

Advertisements

4 responses to “Inventory, Inventory, Inventory

  1. Pingback: Mercer Island Real Estate Odds & Ends « Surrounded By Water: A Mercer Island Blog

  2. Pingback: Seattle Real Estate: Spare Us Your Wild Speculation « Surrounded By Water: A Mercer Island Blog

  3. Pingback: Price Trend Graphs for Mercer Island Real Estate « Surrounded By Water: A Mercer Island Blog

  4. Pingback: Number of Homes for Sale Finally Falling? « Surrounded By Water: A Mercer Island Blog

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s