September’s reports show that King County, the Eastside and Seattle all saw a decline in inventory for sale and an increase in pending sales in September. Average and Median Sales Prices were also up from both the month and the year prior. A very good sign. Mercer Island did not follow the trend, although inventory was down from September of 2009. Our median price was at the lowest point since February of 2009 making now a great time for buyers hoping to find an Island home.
Overall the region is fairing very well and showing sign of steadiness in spite of an uncertain economy. Mercer Island and other higher priced communities traditionally follow the trend set by the surrounding and more moderately priced region. Time will tell if that holds true this time around.