Mercer Island, WA Housing Market

$2,326,984

1.4% 1-yr

The average Mercer Island, WA home value is $2,326,984, down 1.4% over the past year. (Updated on 3/31/2026)

What is the Zillow Home Values Index?

Zillow Home Value Index (ZHVI), built from the ground up by measuring monthly changes in property level Zestimates, captures both the level and home values across a wide variety of geographies and housing types.

Learn more about the Zillow Home Value Index

Mercer Island Key Takeaways

Typical Home Values: $2,326,984

1-Year Value Change: -1.4%

(Data through March 31, 2026)

Mercer Island Housing Market Overview

1-Year Market Forecast: --

For Sale Inventory: 42 (March 31, 2026)

New Listings: 19 (March 31, 2026)

Median Sale to List Ratio: --

Median Sale Price: --

Median List Price: $2,731,000 (March 31, 2026)

Percent of Sales Over List Price: --

Percent of Sales Under List Price: --

Median Days to Pending: --

(Metric availability is based on market coverage and data)

How does this data help me?
Zillow's metrics provide valuable market data by tracking market changes in different locations and housing types.

Neighborhoods in Mercer Island

NameMedian ZHVI
Lakewood$1,052,519
Seward Park$1,155,902
Enatai$2,536,102
Newport Shores$1,613,256
Meydenbauer$2,254,719
Hillman City$722,116
Columbia City$803,173
Mercer Slough--
Mt. Baker$1,030,716

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Mercer Island Rental Market Trends

Average Rent: $2,706 (March 31, 2026)

National Average Rent: $1,910 (March 31, 2026)

Month-Over-Month Change: -1% (March 31, 2026)

Year-Over-Year Change: 0.6% (March 31, 2026)

How does this data help me?
The Zillow Observed Rent Index (ZORI) measures changes in asking rents over time, controlling for changes in the quality of the available rental inventory.