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Mercer Island Housing Market Report June 2025•King County, Washington

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Housing Prices in Mercer Island, WA

How much do homes in Mercer Island, WA cost?

Housing Market Conditions

Is Mercer Island, WA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Mercer Island is a Seller's Market

Difference Since June 2024

Since last year, Mercer Island has remained a Seller's Market.

Insight

Mercer Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$2,375,000$811/SqFt
+$75,000
+3.3%

Based on all homes sold in the last 12 months

Insight

Homes in Mercer Island have sold for 3.3% more than they did a year ago.

Summary: The median home sold price in Mercer Island was $2,375,000 in June 2025, up 3.3% from last year, and the median price per square foot was $811.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Bellevue
+9.8%
Seattle East
+6.0%
Mercer Island
+3.3%
Medina
-5.8%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJun 2024Jun 2025Change YoY
1$411.5K$1.9M
+383.3%
2$620K$737.5K
+19.0%
3$1.7M$1.8M
+3.6%
4$2.4M$2.3M
-3.1%
5$3.1M$3.4M
+7.3%

Summary: Mercer Island housing price by bedroom type for June 2025, compared to the previous year. The home price for 1 bedroom homes increased by +383.3%. The home price for 2 bedroom homes increased by +19.0%. The home price for 3 bedroom homes increased by +3.6%. The home price for 4 bedroom homes decreased by -3.1%. The home price for 5 bedroom homes increased by +7.3%.

How does Mercer Island, WA compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Mercer Island, WA

Housing supply in Mercer Island, WA

How many homes are available in Mercer Island, WA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
130Last MonthJun 2025
1112 months agoMay 2025
+17.1 %
Change MoMMay – Jun

Summary: The Mercer Island real estate market had 130 homes for sale in Jun 2025, a 17.1 % increase compared to May 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
27Last MonthJun 2025
232 months agoMay 2025
+17.4 %
Change MoMMay – Jun

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsMay 2025Jun 2025Change MoM
133
0.0%
21011
+10.0%
31416
+14.3%
45253
+1.9%
53247
+46.9%

Summary: Mercer Island housing inventory by bedroom type for June 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +10.0%. The inventory for 3 bedroom homes increased by +14.3%. The inventory for 4 bedroom homes increased by +1.9%. The inventory for 5 bedroom homes increased by +46.9%.

Asking Price vs. Sold Price

How much do homes in Mercer Island, WA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price6 Homes

At Asking Price7 Homes

Under Asking Price14 Homes

Insight

If you're buying a home in Mercer Island, you may be able to get a good deal. 51.9% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Mercer Island in June 2025, up by 17.4% month-over-month. Of the 27 sold homes, 52% were sold under asking, 26% were sold at asking, and and 22% were sold over asking.

Days on Market for Mercer Island, WA

How long does it take to sell a home in Mercer Island, WA?

Breakdown of Home Sale Times

Under 30 Days22 Homes

30 – 90 Days5 Homes

Over 90 Days0 Home

Insight

Many homes in Mercer Island are selling fast, if you're buying plan to act quickly.

Summary: During June 2025, 27 homes were sold in Mercer Island; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
15 DaysThis YearJun 2025
16 Days1 year agoJun 2024
-5.5 %
Change YoYJun 2024 – Jun 2025

Summary: Homes in Mercer Island had an average listing age of 15 days in Jun 2025, down by 5.5% compared to the previous year.

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Newest Listings in Mercer Island, WA

What homes are available in Mercer Island, WA?

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Nearby markets

Popular Cities with Homes for Sale in Washington

MLS Disclaimers and Copyright

Based on information from Northwest Multiple Listing Service, for the period 07/01/2023 - 07/01/2025

IDX Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

DMCA Notice

IDX The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest Multiple Listing Service IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2025 Northwest MLS. All rights reserved.

DMCA Notice

Disclaimer: Information contained in this listing has not been verified by Rocket Homes Real Estate, LLC and should be verified by the buyer. All information deemed reliable but not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. All properties are subject to prior sale, change or withdrawal. Neither broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Days on site is calculated from the listing date of the current listing and includes the sum of market time from prior listings for the same property uninterrupted by a sale or more than 60 days off-market. Time off market, including time when a sale is pending, temporarily off market, etc. is not included. NorthwestMLS
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/4/2025, 10:32:27 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.