Mercer Island saw more private waterfront sales at the higher end of the price spectrum last year. The average sale price was up 27% overall, but it is important to note that many sales above $5 million—far more than typical—impacted this number significantly. The cost per waterfront acre on the Island was up 13% while the cost per home square foot was essentially the same. The cost per waterfront front foot was up 11%. The cost per acre and the cost per waterfront foot being leading indicators of value and a better representation of year over year changes.
