Foreclosure Homes in Mercer Island, WA

Current Market Conditions in Mercer Island, WA

The real estate market in Mercer Island has seen steady growth, with a strong demand for homes due to its desirable location and excellent school district. Current interest rates and limited inventory have driven prices up slightly over the past few months, with homes often selling quickly and above asking price due to the competition.

It's important to note that while the market is competitive, it's still accessible for first-time home buyers, especially with a variety of housing options ranging from townhouses to luxury single-family homes. There's been an increase in the availability of new constructions, drawing in buyers looking for modern amenities.

Rent Prices In Mercer Island, WA

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Mercer Island, WA, is on a rollercoaster ride. The average rent price in Mercer Island, WA, is $3,775.00. Indeed, when looking to rent in Mercer Island, WA, you can expect to pay as little as $1,340.00 or as much as $6,860.00, with the average rent median estimated to be $3,800.00. The good news is that finding an affordable and desirable property to rent in Mercer Island, WA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.