Foreclosure Homes in Mercer Island, WA

Current Market Conditions in Mercer Island, WA

Mercer Island's real estate market remains competitive, with a steady demand for single-family homes. The community's desirability is reflected in the increasing property values, which have consistently trended upward as more people recognize the value of living in this scenic area. Recent data indicates that homes here are selling quickly, often above the asking price, indicating a robust buyer's market with limited inventory.

As of late 2023, homes continue to see appreciation in values driven by factors such as low-interest rates, a strong local economy, and an influx of families seeking high-quality living environments.

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.