Redfin

The Mercer Island housing market is very competitive. Over the three months, homes in Mercer Island receive 2 offers on average and sell in around 8 days. The median sale price of a home in Mercer Island was $2.5M over the last 3 months, down 1.4% since the same period last year. The median sale price per square foot in Mercer Island is $760, down 11.8% since last year. What is the housing market like in Mercer Island today?

Luxury amenities and premium upgrades can make a home feel like a dream come true, but some features lose their appeal once homeowners face the reality of maintenance, changing lifestyles, or resale value. While certain upgrades are worth the investment, others may not provide the return or everyday functionality buyers expect.

A low appraisal can feel like a major setback when you’re under contract to buy a home, especially if you’re worried the deal might fall through. If you’re asking, can you still buy a house after a low appraisal, the answer is often yes. While a low appraisal can create financing challenges, buyers and sellers typically have several options to keep the transaction moving forward.

Passed unanimously out of the Senate Banking Committee, the ROAD to Housing Act embraces solutions to the housing affordability crisis like zoning reform and streamlining rules to encourage more homebuilding. For the first time since the foreclosure crisis, U.S. Congress has taken meaningful action to make housing more affordable and homeownership more achievable for Americans with the ROAD to Housing Act. For over a decade, housing affordability has been a distant priority for congress.

More than half of homes are selling above asking price in Newark, San Francisco, San Jose and Nassau County, making them the most competitive markets in the nation. The AI boom is leading to bidding wars in the Bay Area, and in the Northeast, many metros are seller’s markets. The least competitive markets are in Florida and Texas, where less than 10% of homes are selling above asking price. In those seller’s markets, demand has failed to keep up with supply.

Home prices rose 0.3% month over month on a seasonally adjusted basis. Prices rose 2.5% on a year-over-year basis–the fastest growth rate in six months. On a local level, prices rose in 29 major metros month over month, with the biggest increases in Cleveland, Providence and New York. This is based on the Redfin Home Price Index (RHPI), a repeat-sales measure of seasonally adjusted home-price changes that is reported about a month earlier than the Case-Shiller Index.

Inheriting a home can be both a financial opportunity and an emotional responsibility. For many executors and heirs, one of the first decisions is whether to invest time and money into repairs or sell the property as-is. While updating a home can sometimes increase its value, there are situations where an as-is sale may be the faster, simpler, and more cost-effective option.

When you’re scrolling through homes online, it’s easy to get distracted by beautiful kitchens, perfectly staged living rooms, and catchy listing descriptions. However, experienced buyers know that listing photos can reveal much more than a home’s best features; they can also provide clues about condition, maintenance, and potential issues before you ever schedule a showing.

This Week In A Nutshell: It’s going to be a big week with an announced deal that may open the Strait of Hormuz by Friday and Kevin Warsh’s first Fed meeting on Wednesday. Upcoming Attractions The two key events to watch this week are (1) whether the newly announced between the US and Iran lead to actual traffic moving through the Strait of Hormuz and (2) the June Fed meeting on Wednesday with Kevin Warsh presiding as Chair for the first time.

Designing a home that stays comfortable in extreme heat takes more than just a powerful air conditioner. Hot weather home design focuses on creating a balance between smart systems, thoughtful materials, and climate-aware layouts that help keep interiors naturally cooler. When done well, these choices can also improve energy efficiency and long-term comfort. In this Redfin guide, we’ll explore practical strategies used in some of the hottest housing markets to help homes stay cool year-round.