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 April 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

$1,433,052

$678/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$105,209(+7.9%)

Key Takeaway

Homes in Bellevue have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in Bellevue was $1,433,052 in April 2024, up 7.9% from last year, and the median price per square foot was $678.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $550K$750K
+36.4%
2 $661.6K$720.8K
+8.9%
3 $1.2M$1.3M
+7.8%
4 $1.6M$1.6M
+4.1%
5+ $2.5M$2.6M
+4.5%

Summary: Bellevue housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.4%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 4.5%.

Median Sold Price Compared To Nearby Cities

Seattle East
+8.9%
Bellevue
+7.9%
Newcastle
0.5%
Mercer Island
-0.9%

Housing Supply in Bellevue, WA

How many homes are available in Bellevue, WA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
400463+15.8%

Summary: The Bellevue real estate market had 463 homes for sale in April 2024, a 15.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 4548
+6.7%
2 86101
+17.4%
3 8293
+13.4%
4 101116
+14.9%
5+ 86105
+22.1%

Summary: The Bellevue housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 13.4%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 22.1%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1441440.0%

Asking Price vs. Sold Price

46 Homes Were Sold
Under Asking

26 Homes Were Sold
At Asking

72 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bellevue, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 144 homes were sold or pending in Bellevue in April 2024, the same as the previous month. Of the 144 sold homes, 32% were sold under asking, 18% were sold at asking, and 50% 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

Apr 2023Apr 2024CHANGE
34 Days23 Days-31.5%

Summary: Homes in Bellevue had an average of 23 days on market in Apr 2024, down by 31.5% compared to last year.

Breakdown of Home Sale Times

116 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

17 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 April 2024, 144 homes were sold in Bellevue; 81% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 12% 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 14 Days Ago

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