Bellevue Housing Market Update | January 2026

By Brandice Raybourn

This Bellevue housing market update reflects December 2025 activity using NWMLS data. January is typically a reset month. Inventory starts to rebuild, buyers re-enter the market cautiously, and sellers test pricing after the holidays. What matters most is not how the market compares to last year or even last month, but how it is behaving right now, because that is the environment buyers and sellers are stepping into today.

Bellevue whole city overview

Across Bellevue, the market is balanced but still leaning seller-friendly. Homes are still selling, but they are taking just a little longer to do so. Buyers are active, showing activity remains solid, and homes are generally closing close to list price, but buyers are clearly more thoughtful and price sensitive.

This is not a market where sellers can overprice and rely on momentum. At the same time, it is not a market where buyers can expect deep discounts across the board. This is what a neutral market actually feels like. Both sides have leverage depending on price point, condition, and competition.

New construction

New construction in Bellevue is leaning toward sellers right now. Inventory is high compared to how many homes are actually going under contract. Buyers know they have options and are taking their time comparing floor plans, locations, incentives, and upgrade packages.

Builders are holding pricing firm and relying on incentives rather than price reductions. For buyers, this creates opportunity and flexibility.

Condos

The condo market is slightly Neutral leaning. Inventory is elevated, days on market are longer, and buyers are being very selective. Condos that offer strong views, updated interiors, reasonable HOA dues, and good parking are still moving. Others are sitting.

Buyers are not rushing in this category. They are comparing buildings carefully and walking away when something does not feel right. Sellers need to price realistically and understand that buyers have alternatives and plenty of them.

Townhomes

Townhomes are clearly slower right now. Days on market are high, and buyers are not in a hurry. This range feels competitive for sellers, especially in larger developments with multiple similar units for sale.

Buyers are paying attention to layout, parking, HOA structure, and location within the community. Townhomes that feel turnkey and well positioned still sell. Everything else takes time.

Residential resale by price point

I always start with the lowest price range because this is where most buyers have to begin when looking for a starter home in Bellevue. Once you limit the data to residential resale only, options become very limited very quickly.

Under 1.149M
This range is seller-friendly, not a clear buyer market. Homes are selling, but buyers are negotiating hard when homes feel outdated or overpriced. Inventory is thin, and that creates competition for the right homes. Buyers are active but selective. Sellers who price realistically can still succeed. Sellers who overreach tend to sit.

There is not a single detached single-family home currently for sale in Bellevue under 1.149M. Inventory at this level is limited to townhomes and condos only. However, recently sold data does show some older detached homes coming onto the market. When they do appear, they do not last long, which is why days on market remain low.

In the last 7 days, 2 listings expired under 1.149M in Bellevue, 2 had price reductions, and 3 were canceled.

1.150M to 1.449M
This range is moving well. Inventory is tight, and buyers act quickly when homes are priced correctly. Sellers are retaining most of their value here, and good homes do not last long. This range feels like the true entry point for buyers looking for a detached single-family home in Bellevue.

Homes in this range are generally well-maintained and move-in ready. Buyer activity is strong, with an average of 25 buyers walking through a single property before an offer is received.

Looking at the two homes that expired in the last 30 days, both were nice properties but small for the price, even though they sat on large lots. There have been no price reductions in this range in the last 7 days.

1.450M to 1.849M
This range remains strong, but buyers are more discerning. Homes are moving in a reasonable timeframe, but condition and presentation matter. Buyers are willing to pay for quality, not for compromise.

Sellers need to actively study their competition. If your home does not compare well, it is likely priced incorrectly. Strategy matters here. Being prepared and realistic is what gets homes sold quickly, often with multiple offers. On average, 29 buyers are touring a single property before it goes pending.

1.850M to 2.049M
This range is smaller and more sensitive to pricing. There is very little inventory available. Serious buyers move quickly when the right home appears, but they are thoughtful and not impulsive.

Overpricing is noticed immediately. Homes that are priced correctly are selling fast. The same advice applies here as in other ranges. Do not assume your home is better than the competition. Go look and confirm it.

2.050M and above
Luxury homes are active but slower. It is no surprise that this range has the highest inventory in Bellevue, along with the most expired and canceled listings last month.

This price point covers a wide range of properties, from just over 2.050M to one-of-a-kind homes currently listed as high as 79M. Days on market are longer, buyers are strategic, and negotiations are common. This range rewards accurate pricing and strong marketing.

What this market feels like right now

Buyers are picky. They are touring homes, comparing options, and walking away when something does not feel worth the price. Sellers are still selling, but only when they understand where their home fits in the current landscape.

This is not a market you can time. It is a market you need to understand.

Why I break the market down this way

Most buyers search by price first, not by neighborhood or home style. Citywide averages hide too much. Breaking the market down by housing type and price range shows how behavior actually changes and where leverage really exists.

I use this same data when advising my buyers and sellers to help them build a strategy for their next move. If you want to talk through how this applies to your specific situation, I’m happy to help.

Brandice Raybourn
Coldwell Banker Danforth Everett
brandice@snohomesbybrandice.com
425-367-3881

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Data sourced from NWMLS and updated monthly.