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Featured local agent — Mercer Island, WA
Sarah Mitchell
Compass Real Estate · Mercer Island, WA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Mercer Island, WA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$2.68Mmedian sale price
How is the Mercer Island, WA housing market right now?
The median home sale price in Mercer Island, WA is $2.68M, up 9.2% year-over-year. Homes sell in an average of 9 days with 54 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Mercer Island a buyer's or seller's market?
Mercer Island, WA is currently a strong seller's market, based on 1.9 months of supply and homes selling in about 9 days. How we determine this →
Homes sold
29
Last 12 weeks
Days on market
9
Fast-moving
Active listings
54
1.9 months supply
Sale-to-list
98.1%
Below asking
What does the Mercer Island housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $2.68M |
| Median list price | $2.35M |
| Year-over-year price change | +9.2% |
| Average days on market | 9 days |
| Active inventory | 54 listings |
| Months of supply | 1.9 months |
| Sale-to-list price ratio | 98.1% |
| Median price per sq ft | $760/sq ft |
| Homes sold (latest month) | 29 |
| New listings (latest month) | 39 |
| Listings with a price cut | 31.5% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Mercer Island by property type?
How the Mercer Island, WA market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $2.69M | $761/sq ft | 28 | 9 days |
| Condo / Co-op | $680,000 | $583/sq ft | 1 | 9 days |
| Townhouse | $1.80M | $536/sq ft | 1 | 9 days |
Source: Redfin · Updated monthly
The Mercer Island housing market is currently classified as a strong seller's market with a median sale price of $2.68M. Prices have risen 9.2% compared to last year, with homes spending an average of 9 days on market, indicating 1.9 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 11.5x provides context for how home values compare to local earning capacity.
Homes for sale in Mercer Island
There are currently 54 homes listed for sale in Mercer Island, Washington. The median listing price is $2.3M.
Active listings
54
Homes on market
Median list price
$2.3M
Avg. days on market
9
Days until sale
New this week
39
Newly listed
Who lives in Mercer Island?
Population
25,282
Median income
$202,359/yr
Median age
45.8 years
Owner-occupied
66.0%
College grads
78.8%
Avg commute
24.9 min
Source: U.S. Census Bureau ACS
What are homes worth in Mercer Island?
Zillow home value
$2.33M
Zillow rent index
$2,654/mo
Price-to-rent ratio
73.1x
Price-to-income
11.5x
Source: Zillow Research
What is it like to live in Mercer Island?
Mercer Island is a community of approximately 25K residents with a median age of 45.8 years.The median household income is $202,359, which reflects a relatively affluent area with strong earning potential. 78.8% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 66.0%, reflecting strong community stability and long-term resident commitment. The average commute time is 24.9 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Mercer Island offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Mercer Island?
6 schools tracked · 3,975 students
The largest public schools serving Mercer Island, WA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Mercer Island High School
Grades 9-12 · 1,465 students
Islander Middle School
Grades 6-8 · 938 students
West Mercer Elementary
Grades K-5 · 410 students
Lakeridge Elementary School
Grades K-5 · 403 students
Northwood Elementary School
Grades PK-5 · 398 students
Island Park Elementary
Grades K-5 · 361 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Mercer Island, WA?
Want a head-to-head view? Compare Mercer Island side-by-side with any other U.S. city using our market-comparison tool.
Is Mercer Island a good real estate investment market?
For investors evaluating Mercer Island, the price-to-rent ratio of 73.1x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 9.2% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Mercer Island's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Mercer Island's median home price.
Frequently asked questions
What is the average home price in Mercer Island?
The median home sale price in Mercer Island is $2.68M, up 9.2% from last year.
How long do homes stay on market in Mercer Island?
Homes typically spend 9 days on market before going under contract.
What is the median income in Mercer Island?
The median household income is $202,359 per year.
Is Mercer Island a buyer's or seller's market?
With 1.9 months of supply, Mercer Island is currently a strong seller's market.
What is the Zillow home value estimate for Mercer Island?
The Zillow Home Value Index (ZHVI) for Mercer Island is $2.33M, representing the typical home value in the area.
What is the median condo price in Mercer Island?
The median condo/co-op sale price in Mercer Island, WA is $680,000, compared to $2.69M for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Mercer Island?
The median single-family home price in Mercer Island, WA is $2.69M (about $761 per square foot).
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