The recent blend of condos and single-family closings makes broad assumptions less useful.
If you are trying to decide how broad or narrow your plan should be in Mercer Island, WA, I would narrow it early. That is my recommendation. The recent sales mix includes both attached homes and larger single-family properties, so the quality of your comparison set matters more than ever.
Recent closings in Mercer Island, WA included single-family homes as well as condo and townhouse-style properties, with 14 total closings over the previous 30 days. The typical closed price was $2,382,500, but the low closing in the last three months was $200,000 and the high closing was $9,850,000, which is far too wide for one-size-fits-all decision-making. That range tells me the sales mix is doing a lot of work behind the scenes. I would isolate your property type first and only then talk about price. In Mercer Island, WA, the market can look stronger or weaker than it really is if you blend attached and detached sales into the same mental bucket. Separate condo and townhouse sales from detached-home sales right away. Then sort by size and recent price per square foot before you decide how to proceed. Narrow the lane before you act. It is one of the simplest ways to make a better decision in a mixed market.
About Mike Rudnev
Mike Rudnev is a licensed Real Estate Professional affiliated with eXp Realty, specializing in the Mercer Island market. With a focus on strategic marketing and deep local knowledge, Mike Rudnev provides clients with expert guidance in navigating complex real estate transactions. View full profile →
