Bellevue, Washington Housing Market Update | February 2025
February 2025
Quick Take
This analysis is based on my review of Bellevue single-family home market data and year-over-year trends.
The Bellevue housing market started the year with strong momentum. While the median sales price dipped slightly to $2.226M, that small shift does not tell the full story of what buyers and sellers were experiencing on the ground.
The most noticeable change was how quickly homes were selling. The average time on market dropped dramatically to 7 days, showing that buyers were still acting quickly when the right home appeared.
Price per square foot climbed to $801, which suggests buyers were still willing to pay a premium for well located Bellevue homes.
Inventory increased modestly compared with the previous year, giving buyers slightly more options to consider. Even with that increase, homes that were priced correctly and presented well were still attracting offers quickly.
Overall, Bellevue remained a highly competitive market where pricing strategy and preparation continued to play a major role in how fast homes sold.
What This Means Across Bellevue's Resale by Price Points
Market activity varied depending on where a home was priced.
Homes under about $1.15M remained extremely limited.
The $1.15M to $1.45M range continued to see steady activity.
Homes priced between $1.45M and $1.93M saw strong demand.
At the $1.93M and above range, demand remained steady.
Bellevue Market Snapshot
The February numbers reflected a market that remained very competitive even as inventory slowly increased.
The median home price was $2.226M.
Homes were moving quickly, averaging about 7 days on market.
Inventory reached 63 available homes.
Homes were selling for 100% of their original list price on average.
Thinking About Buying or Selling in Bellevue?
If you are thinking about buying or selling a home in Bellevue, feel free to reach out anytime.
