Is Bellevue, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bellevue is a seller's market

Buyer's
Market

Difference Since January 2023

Since last year, Bellevue has remained a Seller's Market.

Key Takeaway

Bellevue is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Bellevue, WA

How much do homes in Bellevue, WA cost?

Median Sold Price

$1,393,902

$653/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$7,702(-0.5%)

Key Takeaway

Homes in Bellevue have sold for 0.5% less than they did a year ago.

Summary: The median home sold price in Bellevue was $1,393,902 in January 2024, down 0.5% from last year, and the median price per square foot was $653.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $550K$617.5K
+12.3%
2 $737.7K$678.2K
-8.1%
3 $1.2M$1.2M
-0.5%
4 $1.7M$1.6M
-6.8%
5+ $2.4M$2.6M
+7.4%

Summary: Bellevue housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.3%, 2 bedroom homes decreased by 8.1%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes increased by 7.4%.

Median Sold Price Compared To Nearby Cities

Seattle East
-0.2%
Bellevue
-0.5%
Mercer Island
-9.9%
Newcastle
-14.0%

Housing Supply in Bellevue, WA

How many homes are available in Bellevue, WA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
260272+4.6%

Summary: The Bellevue real estate market had 272 homes for sale in January 2024, a 4.6% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 4042
+5.0%
2 6278
+25.8%
3 4151
+24.4%
4 5747
-17.5%
5+ 6054
-10.0%

Summary: The Bellevue housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 25.8%, 3 bedroom homes increased by 24.4%, 4 bedroom homes decreased by 17.5%, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
9574-22.1%

Asking Price vs. Sold Price

34 Homes Were Sold
Under Asking

27 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bellevue, you may be able to get a good deal. 45.9% of homes here sold below asking price last month.

Summary: A total of 74 homes were sold or pending in Bellevue in January 2024, down by 22.1% month-over-month. Of the 74 sold homes, 46% were sold under asking, 36% were sold at asking, and 18% were sold over asking.

Days on Market for Bellevue, WA

How long does it take to sell a home in Bellevue, WA?

Average Sale Time

Jan 2023Jan 2024CHANGE
64 Days38 Days-40.6%

Summary: Homes in Bellevue had an average of 38 days on market in Jan 2024, down by 40.6% compared to last year.

Breakdown of Home Sale Times

43 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bellevue are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 74 homes were sold in Bellevue; 58% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Bellevue, WA

Nearby Markets to Bellevue, WA

What housing markets are near Bellevue, WA?