Bellevue, WA Housing Market: What to Expect in 2025?

Name: Bellevue, WA Housing Market - Price Trend Analysis
Creator: Houzeo
License: https://www.houzeo.com/terms-of-use/

Overview

Supply

Demand

Buy or Sell

Bellevue Housing Market Overview

The Bellevue real estate market is intensely competitive at present. Median home prices in the city have dipped slightly by 0.7% year-over-year, now at $1,490,000. Properties stay on the market for just 6 days before going under contract. 98 homes were sold this month, which marks a 1% decrease from last year. The market shows remarkable pace despite premium prices.

Bellevue's housing market offers plenty of luxury options for buyers. Here, you can find waterfront estates, high-tech smart homes, and elegant modern condos. The city has consistently maintained high property values, thanks to its tech industry prominence and quality of life. With views of Lake Washington, award-winning schools, and proximity to major employers, Bellevue has a lot to offer. Buyers value its blend of natural beauty and innovative urban planning.

Median Sale Price

# of Homes Sold

Median Days on Market

Median Sale Price

0% year-over-year

# of Homes Sold

0% year-over-year

Median Days on Market

0 year-over-year

All Home Types

1 year

3 year

5 year

Bellevue

Bellevue Housing Supply

Bellevue attracts real estate investors due to its strong appreciation potential. At present, there are 180 homes for sale in Bellevue. This marks a 30.4% increase from last year and includes 159 new listings. The increase in inventory means buyers also have more choices. Bellevue's housing supply period is currently 1.8 months, which maintains intense competition in the market.

Housing availability in Bellevue follows seasonal patterns. More homes enter the market in spring and summer, as it's a prime time for both sellers and buyers. Bellevue offers premium living along with excellent schools and tech-forward amenities. Homes in prestigious neighborhoods like Somerset and Medina command seven-figure prices despite seasonal fluctuations. So, make sure your finances are in order before you buy. Also, conduct careful inspections and request seller concessions when possible. These can offset costs in this premium market.

# of Homes for Sale

# of Newly Listed Homes

Months of Supply

# of Homes for Sale

0% year-over-year

# of Newly Listed Homes

0% year-over-year

Months of Supply

0% year-over-year

All Home Types

1 year

3 year

5 year

Bellevue

Bellevue Housing Demand

Bellevue's real estate market shows remarkable competition. 43.6% of homes sell above the list price at the moment. Meanwhile, only 18.2% of homes sell below the asking price, which marks a 6 percentage point increase from last year. The sale-to-list price ratio sits at 102.5%. This indicates that sellers maintain a price advantage, and buyers typically pay above the asking price. The sale-to-list ratio helps determine market dynamics. In the current climate, it heavily favors sellers.

As a home seller, price your house strategically from the start. This will help you attract multiple competitive offers. You might need to adjust expectations given the ultra-fast 6-day market time. With increasing inventory, expect some price negotiation. To maximize your property's exposure, consider listing your home on the Washington MLS. If you're buying a house in Bellevue, you might need pre-approval and large down payments. Consider making above-asking-price offers on desirable properties.

Homes Sold Above List Price

Homes with Price Drops

Sale-to-List Ratio

Homes Sold Above List Price

0% year-over-year

Homes with Price Drops

0% year-over-year

Sale-to-List Ratio

0% year-over-year

All Home Types

1 year

3 year

5 year

Bellevue

Strong
Buyer

Buyer

Balanced

Seller

Strong
Seller

Buyer’s Market

Seller’s Market

Seller: Housing demand exceeds supply and drives the prices up. Homes sell fast and get multiple offers from buyers.

Bellevue Market: When to Buy or Sell?

The Bellevue, WA, real estate market shifts with the seasons. It generally aligns with trends in the Washington housing market, but with local variations. While prices remain high, seasonal factors affect competition. When inventory improves in spring, buyers gain more options. When the job market experiences a surge in tech hiring, sellers enjoy a stronger demand for properties due to the inbound migration.

With Bellevue's housing supply at just 1.8 months, the market heavily favors sellers. Homes are sold as quickly as 6 days, unlike the more balanced US housing market. Buyers in Bellevue must act decisively in his competitive market, while sellers can expect multiple offers if they price correctly. Understanding these trends helps you time your purchase or sale. You can also monitor local tech industry growth for additional insights.

From Hot Trends to Hidden Gems—All in Your Pocket!

The Houzeo app brings the entire real estate journey to your fingertips. Browse, list, and close—anytime, anywhere.

Download the Houzeo Mobile App Now!

Check the Real Estate Trends in Your State

Search by Top Cities in Washington

Frequently Asked Questions

How have the average home prices in Bellevue, WA, changed over the past year?

Bellevue home prices have decreased slightly by 0.7% over the past year. Even though the median value currently sits at $1,490,000, the competition is very high, and homes sell within 10 to 15 days. To know your property's value in this market, use our free home value estimator.

What is the Bellevue housing market forecast for 2025?

Bellevue house prices should remain stable, with potential for appreciation in the coming months. Demand will likely stay strong despite high price points. Rising mortgage rates won't have a big effect on affordability in this affluent market.

What's the average home price in Bellevue, WA?

Bellevue's average home price varies by neighborhood and proximity to amenities. Costs typically range from $697,000 for condos to $2 million for a single-family home. If you want to buy an affordable house here, you can find cheap homes for sale in Bellevue that are within your budget.

Is this a good time to buy a home in Bellevue, WA?

Yes, it's a good time, but you have to get your finances in order before you go ahead. Check Bellevue housing market trends for supply and demand insights. This helps determine if it's a buyer's or seller's market. Right now, sellers benefit from ultra-fast sales and above-list prices. But if you find the right property and have strong financing, buying remains worthwhile.

What are the current Bellevue housing market trends?

The housing market in Bellevue shows intense competition. Some hot properties move in just 6 days. Homes frequently sell above asking price in desirable neighborhoods. If you want to buy or sell in Bellevue, check the city's housing market trends for the best time to act.

When will the Bellevue housing market crash?

As per the Bellevue housing market forecast for 2025, a crash is unlikely. Home prices remain stable, and the tech job market brings in an influx of residents. This keeps housing demand high.

How to buy a home in Bellevue?

Start with substantial financing and mortgage pre-approval. Then, search for Bellevue houses for sale and zero in on your dream property. You can schedule showings, submit your offers, and close the deal.

How can I list my home for sale in Bellevue, WA?

List your Bellevue home with a Flat Fee MLS Washington listing service. High-tech MLS sites like Houzeo assign the right paperwork based on your location. 🚀

What is the average mortgage rate for buyers in Bellevue?

The state-wide average mortgage rate fluctuates between 6.63% and 7.06%. Rates depend on market conditions and your credit score. Always check current rates with lenders.

What is the cost of living in Bellevue, WA?

Bellevue's cost of living is much higher than in other cities, and 29.7% above Washington's cost of living. The city offers a premium lifestyle with the corresponding high costs. Housing expenses run well above national averages; the median price here is $1,490,000. Food costs also exceed national averages.

Important Legal Disclosures