Market report, updated November 10, 2026

98040 Home Values and Market Report

Search in the zip of 98040

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Report prepared by Homes77.com

(253) 209-4200

Market at a glance

Over the last 12 months, homes sold for 98.4% of list price in 43 days on average.

Average price, last 12 months

What sellers asked vs. what homes actually sold for, by closing month.

List · $2.83M Sold · $2.77M

$4.3M$3.5M$2.7M$1.9M

NovDecJanFebMarAprMayJunJulAugSepOct

Homes sold per month

Closed sales, last 12 months.

18 N

11 D

6 J

5 F

25 M

17 A

29 M

22 J

30 J

15 A

20 S

21 O

Peak: 30 sales in Jul. Last month: 21.

Where the market stands

All homes in this report, by status.

Buyer's or seller's market?

Months it would take to sell every active home at the pace of the last 6 months.

3.0months of inventory

Seller's, under 4BalancedBuyer's, over 6

Homes are selling quickly, which favors sellers in this market.

Average price by status

Active$5.18M

Under contract$2.43M

Sold$2.81M

Average days on market

Active118 days

Under contract99 days

Sold43 days

Browse homes by status

Choose a status to see its numbers, charts and listings.

Active homes

Currently for sale

Homes for sale 68

Average list price $5,175,038

Avg. days on market 118 days

Avg. price per ft² $1,073 Based on 64 of 68 homes

Avg. living area 4,173 ft² Based on 64 of 68 homes

Avg. beds / baths 4.4 / 4.2

Price vs. living area

Each dot is a home. Hover a dot for its address, click it to see the home.

4 homes didn’t report living area and aren’t shown.

$30M$20M$10M$0

Price vs. living area: 64 homes plotted, up to $30M and 15,000 ft².

0 ft²5,00010,00015,000 ft²

How long homes have been listed

Number of homes by days on market.

8 0–30 days

25 31–90

23 91–180

9 181–365

3 365+

Bedroom mix

Number of homes by bedroom count.

3 homes didn’t report bedrooms and aren’t shown.

11 ≤3 bd

24 4 bd

21 5 bd

6 6 bd

3 7 bd

0 8+ bd

Highest price per ft²

Top 7 homes in this status.

8025 W Mercer Way$3,821

Address not available$3,325

4041 W Mercer Way$3,082

5904 SE 20th Street$2,784

6333 77th Avenue SE$2,481

8233 W Mercer Way$2,392

5330 Butterworth Road$2,283

All active listings

Click a column to sort

Address	Beds	Baths	Living ft²	List price	$ / ft²	Days on market
6720 W Mercer WayMercer Island, WA 98040	4	3	3,800	$2,550,000	$671	33 days
2227 77th Avenue SEMercer Island, WA 98040	5	6	5,100	$3,320,000	$650	81 days
7600 SE 29th St Unit #311Mercer Island, WA 98040	2	2	1,287	$536,749	$417	8 days
7445 SE 71st StreetMercer Island, WA 98040	7	8	8,680	$11,250,000	$1,296	106 days
6901 94th Avenue SEMercer Island, WA 98040	4	3	2,150	$1,695,000	$788	13 days
9625 SE 71st StreetMercer Island, WA 98040	5	6	5,560	$6,498,000	$1,168	14 days
4408 E Mercer WayMercer Island, WA 98040	5	4	5,040	$2,845,000	$564	38 days
7775 Shore LaneMercer Island, WA 98040	3	3	2,385	$2,198,000	$921	1 day
4127 93rd Avenue SEMercer Island, WA 98040	3	2	1,640	$1,498,000	$913	19 days
4715 81st Avenue SEMercer Island, WA 98040	4	5	4,440	$3,495,000	$787	74 days

Under contract homes

Pending and contingent sales

Homes under contract 29

Average list price $2,430,779

Avg. days on market 99 days Based on 27 of 29 homes

Avg. price per ft² $948 Based on 25 of 29 homes

Avg. living area 2,949 ft² Based on 25 of 29 homes

Avg. beds / baths 3.9 / 3.3

Price vs. living area

Each dot is a home. Hover a dot for its address, click it to see the home.

4 homes didn’t report living area and aren’t shown.

$9M$6M$3M$0

Price vs. living area: 25 homes plotted, up to $9M and 6,000 ft².

0 ft²2,0004,0006,000 ft²

Days on market before going under contract

Number of homes by days on market.

2 homes didn’t report days on market and aren’t shown.

6 0–30 days

8 31–90

9 91–180

4 181–365

0 365+

Bedroom mix

Number of homes by bedroom count.

5 homes didn’t report bedrooms and aren’t shown.

8 ≤3 bd

9 4 bd

5 5 bd

2 6 bd

0 7 bd

0 8+ bd

Highest price per ft²

Top 7 homes in this status.

8001 West Mercer Street$2,631

8011 SE 57th Street$1,463

18 Holly Lane$1,452

4835 Forest Avenue SE$1,305

2733 62nd Avenue SE$1,197

4025 86th Avenue SE$1,177

1837 72nd Avenue SE$1,138

All under contract listings

Click a column to sort

Address	Beds	Baths	Living ft²	List price	$ / ft²	Days on market
4076 W Mercer WayMercer Island, WA 98040	3	2	1,430	$1,499,000	$1,048	—
7847 SE 40th StreetMercer Island, WA 98040	4	4	2,560	$2,098,000	$819	3 days
6924 96th Avenue SEMercer Island, WA 98040	5	4	3,900	$2,395,000	$614	68 days
1837 72nd Avenue SEMercer Island, WA 98040	4	3	2,280	$2,595,999	$1,138	—
7020 96th Avenue SEMercer Island, WA 98040	5	3	3,348	$2,519,800	$752	16 days
3476 77th Place SEMercer Island, WA 98040	3	3	1,880	$1,698,000	$903	18 days
2733 62nd Avenue SEMercer Island, WA 98040	4	4	2,380	$2,850,000	$1,197	22 days
7712 89th Place SEMercer Island, WA 98040	5	4	4,330	$3,585,000	$827	138 days
9095 SE 79th StreetMercer Island, WA 98040	3	3	2,830	$1,995,000	$704	60 days
7803 89th Place SEMercer Island, WA 98040	4	5	3,598	$2,648,000	$735	55 days

Sold homes

Closed in the last 12 months

Homes sold 218

Average sold price $2,813,862

Avg. days to sell 43 days

Sold vs. list price 98.4%

Avg. price per ft² $855 Based on 216 of 218 homes

Avg. living area 3,217 ft² Based on 216 of 218 homes

Price vs. living area

Each dot is a home. Hover a dot for its address, click it to see the home.

2 homes didn’t report living area and aren’t shown.

5 homes are larger or pricier than this chart’s scale and aren’t shown.

$9M$6M$3M$0

Price vs. living area: 211 homes plotted, up to $9M and 9,000 ft².

0 ft²3,0006,0009,000 ft²

How long homes took to sell

Number of homes by days on market.

144 0–30 days

42 31–90

19 91–180

11 181–365

2 365+

Bedroom mix

Number of homes by bedroom count.

2 homes didn’t report bedrooms and aren’t shown.

62 ≤3 bd

86 4 bd

59 5 bd

7 6 bd

2 7 bd

0 8+ bd

Highest price per ft²

Top 7 homes in this status.

7374 SE 71st Street$2,434

7964 E Mercer Way$2,126

2728 60th Avenue SE$2,090

7010 N Mercer Way$1,983

2728 60th Avenue SE$1,981

5265 West Mercer Way$1,966

49 Holly Hill Drive$1,908

Sold price vs. list price

How close homes sold to their asking price.

39% sold at or above asking

47 Under 95%

56 95–98%

30 98–100%

57 100–102%

28 Over 102%

All sold listings

Click a column to sort

Address	Beds	Baths	Living ft²	Sold price	Sold / list	$ / ft²	Days to sell
3720 80th Avenue SEMercer Island, WA 98040	5	3	3,330	$2,450,000	100.0%	$735	9 days
2760 76th Avenue SE Unit #402Mercer Island, WA 98040	1	1	691	$385,000	96.5%	$557	17 days
5919 77th Avenue SEMercer Island, WA 98040	3	4	2,933	$3,050,000	92.6%	$1,039	54 days
2728 60th Avenue SEMercer Island, WA 98040	2	1	1,110	$2,320,000	96.7%	$2,090	1 day
9412 SE 33rd StreetMercer Island, WA 98040	3	2	910	$1,695,000	94.4%	$1,862	88 days
4429 Forest Avenue SEMercer Island, WA 98040	4	5	4,114	$3,360,000	134.5%	$816	5 days
3218 80th Avenue SE Unit #6Mercer Island, WA 98040	2	2	1,145	$640,000	98.6%	$558	25 days
8218 SE 36th StreetMercer Island, WA 98040	3	2	2,153	$1,510,000	95.1%	$701	17 days
9116 SE 72nd PlaceMercer Island, WA 98040	4	3	2,570	$1,885,000	99.5%	$733	67 days
7800 SE 27th Street Unit #206Mercer Island, WA 98040	2	2	1,444	$882,000	98.0%	$610	10 days

Questions about this market?

These numbers move every month. For what they mean for your home, or for a home you have your eye on, get in touch.

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Call (253) 209-4200

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Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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