House Prices

House Prices & Home Values Mercer Island, WA 2026


Average Data

average house price$2,306,422
average size per house2665 ft²
average price per ft²866 $ / ft²

06/24/2026 - The value range (VR) for house prices in Mercer Island, WA is $1019/ sqft to $1019/ sqft. An average home with 2665 sqft costs approximately $2,715,635 to $2,715,635. Mercer Island, WA includes 1 ZIP codes and it is located in King county. The lowest prices are found in ZIP 98040, while the highest are in ZIP 98040. The average price per sqare feet is $866. Our analysis is based on 14 property listings.

Avergage prices by ZIP codes Mercer Island

980401104 $ / ft²




Historical development of home values in Mercer Island

Year Estimated value (USD) Change vs. 2025
2010 $1,071,144 -53.6%
2011 $1,029,723 -55.4%
2012 $1,026,950 -55.5%
2013 $1,065,335 -53.8%
2014 $1,118,308 -51.5%
2015 $1,175,704 -49.0%
2016 $1,237,060 -46.4%
2017 $1,303,829 -43.5%
2018 $1,375,912 -40.3%
2019 $1,439,711 -37.6%
2020 $1,514,137 -34.4%
2021 $1,722,168 -25.3%
2022 $2,007,661 -13.0%
2023 $2,117,171 -8.2%
2024 $2,239,653 -2.9%
2025 $2,306,422 0.0%

Graph: estimated home values in Mercer Island over time (USD)



Example: 100% financing house in Mercer Island

Loan amount: $2,306,422

Interest rate: 6.00%

Fixed monthly payment: $13,828.17

Breakdown in the 1st month:
Interest portion: $11,532.11  –  Principal portion: $2,296.06

Yearly breakdown (100% financing)

Year Interest per year ($) Principal per year ($) Remaining balance at year-end ($)
1 $137,614.85 $28,323.13 $2,278,098.87
2 $135,867.94 $30,070.04 $2,248,028.83
3 $134,013.29 $31,924.70 $2,216,104.13
4 $132,044.24 $33,893.74 $2,182,210.39
5 $129,953.75 $35,984.23 $2,146,226.16
6 $127,734.32 $38,203.66 $2,108,022.50
7 $125,378.00 $40,559.98 $2,067,462.52
8 $122,876.35 $43,061.63 $2,024,400.89
9 $120,220.41 $45,717.58 $1,978,683.31
10 $117,400.64 $48,537.34 $1,930,145.97
11 $114,406.97 $51,531.01 $1,878,614.96
12 $111,228.65 $54,709.33 $1,823,905.62
13 $107,854.30 $58,083.69 $1,765,821.94
14 $104,271.82 $61,666.16 $1,704,155.77
15 $100,468.39 $65,469.60 $1,638,686.18
16 $96,430.37 $69,507.62 $1,569,178.56
17 $92,143.29 $73,794.69 $1,495,383.87
18 $87,591.79 $78,346.19 $1,417,037.68
19 $82,759.57 $83,178.41 $1,333,859.27
20 $77,629.31 $88,308.67 $1,245,550.59
21 $72,182.62 $93,755.36 $1,151,795.23
22 $66,400.00 $99,537.98 $1,052,257.25
23 $60,260.71 $105,677.27 $946,579.98
24 $53,742.77 $112,195.21 $834,384.77
25 $46,822.81 $119,115.17 $715,269.60
26 $39,476.05 $126,461.93 $588,807.67
27 $31,676.16 $134,261.83 $454,545.84
28 $23,395.18 $142,542.80 $312,003.04
29 $14,603.45 $151,334.53 $160,668.51
30 $5,269.47 $160,668.51 $0.00

Note: The calculation is based on a standard annuity mortgage with a fixed monthly payment over the entire term. Extra payments, interest rate changes, and additional purchase costs (e.g. taxes, notary fees) are not included.


How to sell in Mercer Island, WA


1500 sqft3900 sqft
Ø selling price$1,571,791$3,343,627
Ø fast selling$1,428,900$3,009,264
Ø high price sale$1,714,681$3,677,989

In 2026, houses in Mercer Island, WA will be offered at an average price of $866 per square foot. A 1,500 sqft home priced at $1,571,791 is 24.91% more expensive per square foot than a 3,900 sqft home priced at $3,343,627. Home prices in Mercer Island, WA vary significantly depending on the neighborhood and location. For a quick sale, a 2,700 sqft home should be listed at around $2,314,818. Sellers who can wait longer may achieve a higher price of up to $2,829,222.


Discover Mercer Island, WA

Location and Lifestyle

Mercer Island, WA is a scenic city situated on Lake Washington between Seattle and Bellevue, offering a balanced suburban-urban lifestyle.
Connected by the I-90 floating bridges, the island delivers an easy commute to major employers while maintaining a tranquil, residential feel.

Parks and Outdoors

Outdoor enthusiasts enjoy Luther Burbank Park, Pioneer Park?s wooded trails, and waterfront access for kayaking, paddleboarding, and boating.
Tree-lined streets, well-kept greenbelts, and shoreline views enhance the island?s walkability and year-round recreation.

Schools and Community

The Mercer Island School District is widely recognized for strong academics, modern facilities, and robust extracurriculars.
Active neighborhood associations and city events like the annual Summer Celebration foster a friendly, close-knit community.

Dining, Shopping, and Culture

The Town Center features locally owned boutiques, cafes, and destination dining that attract visitors from across the Eastside.
Public art installations, seasonal farmers markets, and nearby cultural venues provide vibrant experiences without sacrificing small-town charm.

Real Estate and Lifestyle

Mercer Island real estate ranges from mid-century homes to luxury waterfront estates, with strong demand driven by schools, safety, and location.
Whether you?re relocating for work or seeking a peaceful base near Seattle, Mercer Island, WA blends natural beauty, convenience, and premium amenities.



FAQ – Home Values in Mercer Island

What is the median home value in Mercer Island in 2026?

In 2026, the typical home value in Mercer Island is about $2,306,422 for an average home size of 2665 square feet. This corresponds to an average price of roughly $866 per square foot.

What is the average cost per square foot in Mercer Island?

In 2026, homes in Mercer Island sell for an average of around $866 per square foot, with a typical range between $1019 and $1019 per square foot, depending on the property’s location, condition, and lot size.

What is the average home size in ?

The average home size in Mercer Island is about 2665 square feet, with an estimated 2026 value around $2,306,422.



Locations close to Mercer Island, WA

Kent, WA213 $ / ft²
Mountlake Terrace, WA299 $ / ft²
North Bend, WA94 $ / ft²
Medina, WA1376 $ / ft²
Maple Valley, WA271 $ / ft²
Lynnwood, WA395 $ / ft²
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