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Mercer Island real estate in August
Thirty-one percent fewer homes sold in August than in the same month a year ago. And for the month, there were more than 15 percent fewer homes and condos on the market last month. Closed sales prices were down by 11 percent for single family homes over a year ago.
In August, 29 single family homes and three condos sold. The activity was the same as last year. The median price for single family homes was $825,000 for the month, down by more than 11 percent over $929,500 in August of last year.
The number of homes and condos listed for sale last month totaled 110; 11 less than a year ago. Of those, 14 were condos, down from 26 offered for sale a year ago.
At the present time, there are 121 properties listed for sale on the Island. They range from a $132,000 500-square-foot studio condo to the $18,950,000 13,636-square-foot, seven-bedroom, eight-bath mansion on Boulevard Place. The second most expensive home on the Island is $9,995,000. Sixteen homes are priced at $5 million or more. Sixty-one are priced at $1 million or less. There were no single family homes offered at less than $500,000.
There are presently a dozen condos for sale on the Island, priced from $132,000 for the studio condo, to $498,000 for a three-bedroom, two- and one-quarter bath townhouse.
The largely undeveloped 213,000-square-foot Stevenson Farm property on Island Crest Way sold for $5,850,000 on Aug. 31.