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Market Intelligence · WA / King County

Mercer Island, WA home prices and housing market

1 ZIP market liveData updated September 2026Typical value$2.21M1-yr changeDown0.8%

The typical home value in Mercer Island, WA is $2.21M as of September 2026, down 0.8% from a year ago, based on the Zillow Home Value Index. In the typical Mercer Island ZIP code, the median list price is $2.75M and homes spend a median of 44 days on market as of September 2026 (Realtor.com).

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The coverage

Mercer Island, by the numbers.

Typical home valueZillow ZHVI, September 2026
$2.21M
1-yr changeMedian across Mercer Island ZIPs
-0.8%
ZIP markets live
1
County
King County

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12-month value trend

-0.8% over 12 months

Typical home value in Mercer Island over the last 12 months: $2.23M in Sep 2025 to $2.21M in Sep 2026 (-0.8%).

Sep 2025$2.23M

Sep 2026$2.21M

Median Zillow home value index across Mercer Island's ZIP codes.

Context

Mercer Island's housing market shows signs of cooling in September 2026. The typical home value stands at $2,212,672, down 0.8% over the past year. There are 85 homes for sale, with a median list price of $2,746,500 and a median time on market of 44 days. Twenty-four new listings arrived in September, though 17.2% of active listings have already seen a price cut. For sellers, this means you're facing a market where buyers have options and patience is working against price appreciation.

The numbers

What is the housing market like in Mercer Island, WA?

Typical home value

$2.21M

Down0.8%YoY

Median list price

$2.75M

Days on market

44

Homes for sale

85

Price cuts

17.2%

New listings

24

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026)

Figures reflect Mercer Island's ZIP codes with market data: values and listing medians take the median across ZIPs; inventory and new listings are summed.

Prices over time

Mercer Island, WA home prices over time

Typical home values in Mercer Island, WA are down 0.8% over the past year, from $2.23M in September 2025 to $2.21M in September 2026.

Typical home value in Mercer Island, WA, September of each year
MonthTypical value1-yr change
September 2026$2,212,672-0.8%
September 2025$2,230,334No prior year

Typical value is the median Zillow Home Value Index across Mercer Island ZIP codes, taken in September of each year so every row compares the same month.

Market balance

Is Mercer Island, WA a buyer's or seller's market?

Mercer Island, WA leans toward a buyer's market.

Homes for sale are building up relative to new listings, which gives buyers more room to negotiate.

Based on a median of 44 days on market and 17% of listings with a price cut in the typical Mercer Island ZIP code, and 24 new listings against 85 active listings across Mercer Island, as of September 2026 (Realtor.com).

The outlook

Mercer Island housing market forecast 2027

-0.3%

Weighted average of Zillow's ZIP forecasts, 12 months to September 2027

A weighted average of Zillow's ZIP forecasts, across 1 Mercer Island ZIP code, points to typical home values holding roughly flat by September 2027 (down 0.3%).

Over the 12 months through September 2026, typical home values in Mercer Island fell 0.8%, per the Zillow Home Value Index.

Will home prices drop in Mercer Island?

Not by much, on the forecasts: a weighted average of Zillow's ZIP forecasts for Mercer Island shows typical home values holding roughly flat by September 2027 (down 0.3%), after a 0.8% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

How this is calculated: each ZIP code's 12-month Zillow forecast is weighted by its typical home value (Zillow Home Value Index, September 2026). 1 Mercer Island ZIP code has both figures.

Forecast: a weighted average of Zillow's ZIP forecasts (Zillow Home Value Forecast, published October 2026), calculated by Home Value Pros. A forecast, not a guarantee.

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Live markets

What ZIP codes are live in Mercer Island?

Typical value is the Zillow home value index (ZHVI) for each ZIP, as of September 2026. 1-yr change compares it to the same ZIP a year earlier.

Zillow ZHVI, September 2026

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Common questions

Questions about Mercer Island, WA home prices.

What is a typical home worth in Mercer Island?

The typical home value in Mercer Island is $2,212,672 as of September 2026, down 0.8% over the past year.

How long do homes stay on the market in Mercer Island?

The median days on market is 44 days as of September 2026. With 85 homes currently for sale, the market offers buyers meaningful choice.

Are prices changing in Mercer Island right now?

17.2% of active listings have seen a price cut as of September 2026, reflecting buyer caution in the current market.

Is Mercer Island, WA a buyer's or seller's market?

Mercer Island, WA leans toward a buyer's market. Homes for sale are building up relative to new listings, which gives buyers more room to negotiate. Based on a median of 44 days on market and 17% of listings with a price cut in the typical Mercer Island ZIP code, and 24 new listings against 85 active listings across Mercer Island, as of September 2026 (Realtor.com).

Nearby markets

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