Mercer Island

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On Mercer Island, the 29 waterfront homes selling between July 2016 and June 2017 averaged $4.38 million and nearly $1,000 per square foot. This is one of the region’s top markets for waterfront homes, and selling prices have been steadily rising since 2014. Sellers here price their homes for sale accordingly and reduce those prices grudgingly, resulting in an average time on market of over four months. While all waterfront properties on Mercer Island command a premium—the lowest priced home sold for $1.7 million—the highest prices were paid for homes north of SE 45th Street and closer to I-90.