About Mercer Island's West Mercer

Another Mercer Island waterfront home was sold in September, bringing the total of all types of waterfront sales in Mercer Island to 24 for the year. The most-current sale was a 5300 square foot home on West Mercer Way. The 5 bedroom, 5.75 bath home was on the market for just 6 days, listed at $2.885 million and selling at a final price of $2.78 million.

At this point last year, there had been 20 Mercer Island waterfront homes sold. Median prices of waterfront homes in Mercer Island have been fairly flat, with prices near $2.4 million over the past year.

Sold Mercer Island Waterfront Homes, September 2011

8055 W Mercer Way, Mercer Island WA 98040 - $2,780,000, 5 beds, 5.75 baths, 5318 sq ft

Sales of Mercer Island waterfront homes have continued to push a strong path through 2011, bolstered by two recent waterfront homes selling in less than one week on the market. As the general market seems to be saddled with a flat pace, waterfront real estate sales in Mercer Island are up 28% so far in 2011.

There have been 23 waterfront homes sold in Mercer Island, year-to-date in 2011. At this same point in 2010, there had been just 18 waterfront homes sold, and only 8 such homes sold during 2009's dismal year of luxury and waterfront real estate sales. The number of multi-million dollar homes being sold are increasingly a testament to the strength of high-end sales in the most sought-after communities in Greater Seattle.

The two most recent sales of waterfront homes were on opposite ends of the island, with the first being a West Mercer Way home on the southwest corner of the island. Sold for $2.78 million, the home was on the market just 6 days. The other sale was on the northeast corner and sold for $3.01 million after just 5 days on the market.

You've heard it from me before, but it bears repeating. In this market, a home that is attractively presented, well-marketed, and priced correctly, will sell. There are buyers for every level of real estate in Greater Seattle, but sellers must be realistic about the adjustments in pricing we've seen in recent years. Without a realistic price, it's not worth listing the home.

Recent Mercer Island Waterfront Home Sales

8055 W Mercer Way, Mercer Island WA - 5 beds, 5.75 baths, 5318 sq ft

9434 SE 33rd St, Mercer Island WA - 5 beds, 2.5 baths, 4469 sq ft

The Boulevard Estate
4137 Boulevard Place, Mercer Island WA 98040



The Boulevard Estate on Mercer Island received plenty of attention in the past year for its top-of-the-market $32 million price tag, eventually being reduced to $28.8 million. The 7 bedroom, 11.25 bath home was listed on the NWMLS until a few months ago, and was featured on many television news programs as well as print outlets.



The estate is truly a unique property, even for Mercer Island waterfront homes, and it's difficult to really capture the scale and quality without seeing it in person. The home has over 13,000 square feet of living space on its 1.66 acre lot. The commanding hillside West Mercer site is fronted by 160 feet of Lake Washington shoreline and deep water moorage for multiple watercraft. A 150-inch flat screen tv sits poolside, and retracts below the finished surface.



The estate was marketed by Coldwell Banker Bain and Realogics Sotheby's, for a total of around 1.5 years. It appears that the owners have decided to change course with their sales approach. J. P. King Auction Company is scheduled to auction the home on August 30.

There have been several auctions of unique luxury and waterfront homes in the Seattle area recently, including Mercer Island neighbor, the Lytle Mansion. We've seen some luxury estates receive strong bids at auctions, while others have sold at steep discounts.



Homes of this size and price regularly take more than a year to find the right buyer, so the auction format can sometimes limit that pool. To allow for more time, J.P. King will make the home available now to qualified potential buyers interested in making a pre-auction purchase.

Feel free to contact us if you'd like to arrange an appointment to see the home.

(Information, video, and photos courtesy JP King Auction Company)

Mercer Island waterfront homes are showing strong sales to start the year in 2011. Waterfront real estate sales so far are up more than 60% as compared to the same period in 2010. Thirteen waterfront homes have been sold, including an oustanding month of April in which 7 homes sold.

There was a large rush in late 2010 for waterfront real estate in Mercer Island, and those big sales numbers led to slower sales in the beginning of 2011. If the April numbers show us anything, though, the Mercer Island waterfront is about to start moving along briskly again for the summer selling season.

Mercer Island Waterfront Homes Sold, April 2011

Address City Price Beds Baths Sq Ft
6226 E Mercer Wy Mercer Island $1,400,000 3 2 2,200
4456 Ferncroft Rd Mercer Island $1,550,000 3 2.5 2,840
4625 Forest Ave SE Mercer Island $2,025,000 3 2.75 2,760
4056 E Mercer Wy Mercer Island $2,485,000 3 3.25 3,450
6236 E Mercer Wy Mercer Island $3,850,000 6 5.5 6,611
8030 SE 20th St Mercer Island $2,500,000 4 3 6,410