The first quarter saw a year-over-year increase in home sales activity on the Island as our real estate market started picking up steam. A dwindling inventory of available homes for sale combined with record-low interest rates have spurred buyer demand and reduced the average market time by 14% for single-family homes and 36% for condominiums compared to this time last year. While prices appear deceptively low, this is actually a reflection of the increased activity we saw in the moderate price ranges as opposed to higher price ranges.

Homes in popular, moderately priced neighborhoods such as the Mercer Island Estates are currently in high demand and selling quickly, often with multiple offers.

Click here for the full report and neighborhood-by-neighborhood statistics!

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