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 October 2021

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.

How much do homes in Bellevue, WA cost?

Median Sold Price

$1,453,639

$723/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$270,642(+22.9%)

Key Takeaway

Homes in Bellevue have sold for 22.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $524.4K$595K
+13.5%
2 $628K$732.3K
+16.6%
3 $1.0M$1.3M
+23.8%
4 $1.4M$1.7M
+24.7%
5+ $1.9M$2.4M
+26.5%

Median Sold Price Compared To Nearby Cities

Newcastle
+34.3%
Bellevue
+22.9%
Mercer Island
+19.4%
Seattle East
+19.0%

How many homes are available in Bellevue, WA?

Number of Homes For Sale

Sep 2022Oct 2022%
4604600.0%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 2833
+17.9%
2 11195
-14.4%
3 112104
-7.1%
4 125127
+1.6%
5+ 84101
+20.2%

Number of Homes Sold

Sep 2022Oct 2022%
137107-21.9%

Asking Price vs. Sold Price

64 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

21 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. 59.8% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
18 Days33 Days+81.7%

Breakdown of Home Sale Times

69 Homes Were Sold
Under 30 Days

26 Homes Were Sold
In 30 - 90 Days

12 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.

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

About Bellevue, WA

Bellevue, WA has 460 homes on the market. While the average time on the market in October 2022 was 33 days, the median list price was $1,453,639. Listing prices have changed in this real estate market between September 2022 and October 2022: prices of 1 bedroom properties went up by 13.5%, prices of 2 bedrooms properties went up by 16.6%, 3 bedrooms properties became 23.8% more expensive, the cost of 4 bedrooms properties went up by 24.7%, 5 bedrooms properties became 26.5% more expensive. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory increased by 17.9%, 2 bedrooms homes inventory decreased by 14.4%, 3 bedrooms homes inventory decreased by 7.1%, the quantity of 4 bedrooms homes went up by 1.6%, 5 bedrooms homes became 20.2% more available. Over 21 listings were sold over their listed price in October 2022 in Bellevue, WA. In the same period over 64 listings were sold below the listed price and 22 listings were sold for the listed price.

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