Waterfront real estate sales in Mercer Island were on a breakneck pace throughout the fall, and final numbers on the MLS for the year were about as strong as possible after a drab 2009.
A total of 31 Mercer Island waterfront homes are listed as sold on the MLS for the full year of 2010. This is up 180% from the paltry 11 sales in 2009, and still 29% more than the 24 homes sold in 2008 (not all home sales are reported on the MLS). We saw a rush of sales at the end of this year, as a large group of buyers looked to snap up homes just as they came on the market.
During October and November, more often than not, we were seeing waterfront homes in Mercer Island selling in less than two weeks, and many in under a week. It seems that there were enough buyers waiting for a price bottom that when a few of them started moving, everyone jumped board.
Prices were still down for the year on waterfront and luxury real estate around the Puget Sound region, as weâ€™ll be getting full year-end reports from county sales data shortly. However, these kinds of bright spots just may be the leading indicators for a stabilization of the market.
RealtorÂ® | Managing Broker
SeattleHome.com | Coldwell Banker Danforth
ph: 206-658-3225 | email: sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors
Source: Individually compiled NWMLS data. The NWMLS did not compile or publish this information.
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