The housing market in Mercer Island, WA is booming. With a median house value of $2,145,300, it is vastly higher than the US median house value of $338,100. This demonstrates the strong demand and appreciation for this area. In fact, over the past year, Mercer Island's houses have appreciated by 7.43%, slightly lower than the national average of 8.27%. The increasing value of these homes proves that Mercer Island is becoming increasingly desirable to those looking for their perfect home.
The median home cost in Mercer Island is $2,145,300. Home appreciation the last 10 years has been 167.2%. Home Appreciation in Mercer Island is up 14.8%.
Average Age of Homes
- The median age of Mercer Island real estate is 45 years old
The Rental Market in Mercer Island
- Renters make up 24.1% of the Mercer Island population
- 2.5% of houses and apartments in Mercer Island, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.