Larger Homes Selling Closer to List Price in 2014

It’s time for one of our infrequent updates on the Mercer Island Real Estate market. Our handy database of home sales shows that year to date, median home price is $952,500– the highest in six years.

Annual-trends-mercer-island-real-estate

Even more indicative of a hot market, the average sale-to-list price for this year is 100%, meaning that sellers are getting the price they are asking for the first time in years. In 2009, average sale-to-list price was 87%!

Price per square foot hasn’t quite recovered to 2008 levels, so people are getting a little more for the money they are spending. And sales are up– more than 400 homes sold in 2013, and 328 have sold year to date in 2014.

Below are the same stats, monthly. Click to get to an interactive view.
Monthly-Trends-mercer-island-real-estate

Mercer-Island-home-sales

Analysis done in Tableau Public. Data collected over a period of years from Redfin.

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