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Real estate listings remain low in March
As of April 4, there were 102 properties offered for sale on Mercer Island. Fourteen of those were for vacant land, eight for condominiums and 88 were single family homes.
According to data from the Northwest Multiple Listing Service, last month, 58 listings for single family homes were added to the Island market. Three more condominiums were listed for a total of 102 active listings for March.
In March of 2013, there were just 41 new listings added. Yet the total number of active listings for the month remained flat at 80 — just one less than a year ago. More single family home sales were pending last month however, up to 51 units, an increase of 20 percent over March last year.
Fewer single family homes sold last month as compared to a year ago, down 12 percent. Yet, the median price of homes sold last month was up by 25 percent as compared to closed prices from a year ago; reaching $1.085 million up from $864,000 last year.
Island condominiums offered for sale range from $244,000 for a $1,000 square foot, two bed, two bath unit to $1.275 million for a 2200 s.f. two bed, two-bath unit.
This 674 s.f. condo at 3200 81st Place S.E, was offered for sale for $295,000. It is pending (contributed photo).