Mercer Island Washington Real Estate
This market update is presented to you by a team led by MERCER Island Washington Real Estate in Seattle, Washington, USA. We're still in 2020, but here's a look at some of the most exciting developments in the Seattle real estate market right now.
It is a floating bridge that spans Lake Washington, spans the east and west lanes of Interstate 90, and connects Mercer Island to the northern part of Seattle's South End. It is the first of its kind in the US and the second largest in North America. It operates on Interstate 90 between Seattle, Mercer Island and Bellevue and connects both cities.
A significant section of the highway is sunk below street level and is covered by the Mercer Island Lid, which includes several parks. The East Channel Bridge leads I-90 across Lake Washington to the north and south sides of Seattle's South End. This motorway passes under the floating bridge, and a significant part of it recreates the road level. In these parks there are a variety of activities such as swimming pools, playgrounds, tennis courts, picnic areas and other activities.
The property comprises a variety of residential and commercial properties as well as a number of commercial and industrial buildings. The property comprises more than 2,000 square meters of office space and includes an office building, a hotel, an apartment building and a commercial building with a restaurant.
Other types of apartments that predominate on Mercer Island are single-family houses, duplexes, townhouses, apartments and townhouses. These apartments range from modern condominiums to urban ones - such as downtown - and can be sorted and arranged by size, location, property size and other factors. Owners - occupied apartments and single-family houses are the most common type of apartments you will see on Mercer Island.
We filter listings based on price declines over the past six months so you'll never miss a bargain. Check out Mercer Island Real Estate's monthly real estate market report to compare market activity through November 2019.
Over the past 12 months, Mercer Island's appreciation rate has been 1.34%, above the national average of 0.8% and below Seattle's 1%. One very important thing to keep in mind is that there is a significant difference between the average and average appreciation rates of Mercer properties. Compared to Washington, our data show that our average city-to-city rate of enrollment over the past 12 months was 2.1%, compared to the Washington state average of 3.5%.
This makes Mercer Island a very attractive destination for home buyers and property investors and could signal the beginning of a long-term upward trend in Mercer property values. Although Mercer Island is one of the most expensive places to live in Washington state, it has the potential to be a great place to be a homebuyer or real estate investor in 2017 and beyond.
In the last quarter, NeighborhoodScout data showed that Mercer Island homes appreciated 2.50%, an increase of $1,000 per square foot from the previous quarter. Over the past 10 years, Mercer Island has experienced an average annual property appreciation of 3.5%. In fact, his property has appreciated 78% to 79% in that time, making it one of the top 10% in property appreciation nationwide.
Looking ahead to 2021, I hope that with the COVID-19 vaccine we will see the market and industry slowly return to pre-vaccine levels. It will probably be mid-January before we see a rise in new entries again, but I certainly miss the smiling faces of customers and colleagues and am looking forward to hosting open houses and inviting buyers and customers to sit in the car for neighborhood tours. The absorption rate shows how active listings are absorbed each month and shows the rate at which homes are selling. When this figure climbs above 100%, buyers will absorb the new listing that arrives on the market, while properties with longer market terms will also be under contract. This month, the deals sold out in less than two weeks and just over a month, according to NeighborhoodScout data.
You can also use the map view to find the sale of houses and apartments based on amenities nearby, such as parking and amenities. With Point2, you save valuable time and effort on this page, and there are results for those looking for an overview of the area.
While most of the island is densely wooded, quiet and inhabited, the northern end of Mercer Island has its fair share of high-quality real estate developments. Houses for sale on Mercer Island include single-family homes, condominiums, townhouses, bank - homes and owners - occupied homes. Single-family homes are the most popular form of housing in the area, accounting for over 60% of all sales of single-family homes. Of these, 53.18% have three or four bedrooms, which is average compared to America.