Bellevue Housing Market Update

March 2025

By: Brandice Raybourn

Quick Take

The Bellevue housing market stayed strong early in the year, with home values holding steady and buyers still moving quickly when the right property appears.

The median sales price reached $1.862M, a modest 1% increase compared with the previous year. At Bellevue price levels, small movements often signal stability rather than a slowdown.

Homes were selling very quickly. The typical property went pending in about 5 days, which was even faster than the previous year. This shows that when homes are priced appropriately and presented well, buyers are still ready to act quickly.

Inventory increased compared with last year, giving buyers a few more options. Even with more listings available, demand continued to keep the market moving at a fast pace.

Closed sales also increased slightly, suggesting buyers were still actively purchasing despite the higher price points typical in Bellevue.

What This Means Across Bellevue’s Resale by Price Points

Different price ranges experienced slightly different buyer behavior.

Homes priced under about $1.15M remained extremely limited. This range had very little inventory, which meant buyers competing for these homes often had to move quickly when one became available.

The $1.15M to $1.45M range stayed active with steady demand. Homes here were still receiving competitive offers, especially when they were well updated or located in desirable neighborhoods.

In the $1.45M to $1.93M range, the market remained strong with buyers continuing to compete for desirable properties. This range often attracts move up buyers relocating within Bellevue.

Homes priced above $1.93M saw the largest increase in inventory. Buyers in this price range typically take more time evaluating homes, but well prepared listings still attracted attention and offers.

Bellevue Market Snapshot

The March numbers reflected a market that remained competitive even as inventory began to grow.

The median price held around $1.86M, continuing Bellevue’s long trend of strong home values.

Homes were going pending quickly, averaging just 5 days on market before securing a buyer.

Inventory increased to 63 homes available, giving buyers slightly more selection than the year before.

Sellers were still receiving strong offers, with homes selling for 102.2% of their original list price on average.

Overall, Bellevue continued to show the characteristics of a competitive market where pricing and preparation played a major role in how quickly homes sold.

Thinking About Buying or Selling in Bellevue?

If you are thinking about buying or selling a home in Bellevue and want to understand how the market is behaving right now, feel free to reach out anytime. I am always happy to talk through what the numbers mean and how they might apply to your situation.