Mercer Island is definitely one of the higher end and more affluent locations throughout the Puget Sound and King County. But, I still have a lot of people, regardless of their income, ask about living on the islands. There is a sense of community and uniqueness about Mercer Island. You won’t find large housing developments, subdivisions, or tracts of similar homes, which appeals to a lot of people on the island.
Single-family homes far outweigh condominiums or townhouses on the island, which is where the affordable price point would probably land. The average home price on Mercer Island covers right around the $1 million mark, and while not everyone can afford that type of mortgage, there are some properties under the million-dollar mark that might work for you, especially if Mercer Island is really your dream location.
If you’re planning on buying a parcel of land to build, they are still available. Mercer Island is surprisingly wooded with several forested areas. Many of the homes were built between the 1950s and 2000 and are set in amongst large, old-growth for trees and hemlocks, giving Mercer Island its unique charm. Just a couple of minutes off the island and you’re in a major metropolis city, yet at home on the island can feel like you’re up in the mountains surrounded by trees and numerous forests. Lots and lands for about a quarter of an acre to a third of an acre start at around $500,000 and can go up to $1 million or more depending on the view. Waterfront properties are a lot more, sometimes ranging over $2 million, the waterfront is a lot more scarce than inland.
Condominiums are available starting at about $530,000. The Château Condominiums located in Mercer Island town just south of Interstate 90 have two bedroom units for around $535,000. These homes are approximately 1200 ft.² and are in an award-winning public school district.
There are condominiums along Island Crest Way just off of 81st Pl., Southeast minutes to the freeway and shops and restaurants in downtown Mercer Island. A one bedroom property with about 650 ft.² start at about $400,000.
Mercer Isle, located just north of I-90, is a 1960s condominium building located in the fantastic Mercer Island school district and close to Burbank Park, and downtown Mercer Island. These two and three bedroom condominiums up to about 1300 ft.² can start at around $540,000.
Monaco Villa, nestled just off of 76 Avenue, minutes from downtown shopping and markets and just around the corner from the Mercer Dale Park, offers two and three bedroom condominiums starting at about $500,000. These condos were built in 1968 the many of them have seen numerous upgrades over the years. Homeowner association fees are about $560 per month as of the publishing of this post.
The least expensive actual single-family house for sale is located on 74th Ave., Southeast. You’re likely to find an older home with 2 to 4 bedrooms, 1 to 3 bathrooms, and in sizes from 1000 ft.² to 2000 ft.². Several of these homes may need cosmetic upgrades and repairs.
There are currently no single-family houses under $1 million on Mercer Island as of April 15, 2019.
If you’d like to take a look at any of the condominiums, lots or land, or properties for sale on Mercer Island or anywhere throughout the Puget Sound please contact my office today or start your online search for free on my website.