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Evergreen Reporter

Wednesday, December 4, 2024

Mercer Island home prices rise in the first quarter of 2020

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The median sale price of a home sold in the first quarter of 2020 in Mercer Island rose by $164,575 while total sales increased by 16.7%, according to BlockShopper.com.

From January through March of 2020, there were 35 homes sold, with a median sale price of $1,630,000 - a 11.2% increase over the $1,465,425 median sale price for the same period of the previous year. There were 30 homes sold in Mercer Island in the first quarter of 2019.

The median sales tax in Mercer Island for the most recent year with available data, 2016, was $8,399, approximately 0.5% of the median home sale price for the first quarter of 2020.

The following table compares Mercer Island to other King County cities with similar median sales prices in the first quarter of 2020:

CityJan. - Mar. 2020 Home SalesJan. - Mar. 2019 Home Sales% change (Total Home Sales)Jan. - Mar. 2020 Median Sales PriceJan. - Mar. 2019 Median Sales Price% change (Median Sales Price)
Medina7540%$3,550,000$5,700,000-37.7%
Yarrow Point3250%$3,150,000$7,850,000-59.9%
Clyde Hill58-37.5%$2,600,000$2,617,091.50-0.7%
Fall City (unincorporated)23-33.3%$1,700,000$1,000,00070%
Mercer Island353016.7%$1,630,000$1,465,42511.2%
Fenton (unincorporated)13-66.7%$1,468,000$1,375,0006.8%
Sammamish (unincorporated)16-83.3%$1,375,000$1,272,2008.1%
Kirkland3647-23.4%$1,315,000$900,00046.1%
Bellevue88108-18.5%$1,200,000$1,012,50018.5%
Sammamish5975-21.3%$920,000$858,0007.2%
Issaquah27270%$911,000$835,0009.1%

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