Bellevue Housing Market Update May 2026

By: Brandice Raybourn

Quick Take

Inventory jumped. And not a little… a noticeable jump.

Buyers finally have more to look at, which is something Bellevue hasn’t really offered consistently over the last few years.

But here’s the thing. Even with more homes hitting the market, Bellevue is still doing what Bellevue does. It absorbs inventory.

Homes are still selling fast overall, but it is not equal across the board anymore.

Some homes are flying. Some are sitting.

That gap is getting wider.

Whole City

This still feels like a strong, stable market, but it’s no longer automatic.

Buyers are picky right now. They are walking through more homes before making a decision, and they are paying attention to condition, layout, and value way more than they were.

Sellers are still getting movement, but only when they are positioned right.

If you’re priced well and show well, you’re still in the game.

If not, you’re sitting with everyone else wondering why your neighbor sold and you didn’t.

Want my take on your specific situation in Bellevue? Request your personalized Bellevue Snapshot here

 

New Construction

New construction is still holding its ground, especially on pricing.

Builders are not feeling pressure to drop pricing dramatically, and you can see that in how close they’re getting to their original price.

But buyers are slower here compared to resale.

They’re looking harder, comparing more, and taking their time before jumping into something that’s brand new but comes at a premium.

So yes, it’s still strong… just not rushed.

• Remember, most builders pay for your buyer’s agent. Bring one with you on your first visit. If you don’t have one yet… call me 😉425-367-3881

 

Beyond the Blog: Your Real-Time Market Snapshot

Everything above is based on what already closed.

But the market is moving every day.

I’m watching what is going pending, what is sitting, and what is adjusting in real time, and it can look very different depending on your price point.

You don’t need another blog. You need to know what is happening in your situation right now.

If you would rather just reach out directly, you can email me anytime. brandice@snohomesbybrandice.com

Every situation is different. I’ll tailor this to your goals, timing, and what you’re actually trying to decide.

Condos

Condos are active, but this is where buyers are the most cautious.

There are options. Buyers know it. And they are taking their time.

HOA dues, condition of the building, and long-term costs are all part of the conversation now.

This is not a “grab it before it’s gone” type of experience. This is a “let me look at a few before I decide” type of market.

 

Townhomes

This one needs context, because at first glance it looks wild.

That big drop in the average price from last month to this month is not the market crashing.

It’s the mix.

Last month had more higher-end townhomes selling. This month, the majority of what closed was on the lower end.

So the average dropped hard.

When you break it down further, it actually tells a better story.

New construction townhomes are still sitting up in that 1.8M+ range.

Resale townhomes are sitting closer to the 800s to low 900s.

That’s nearly a 1M gap depending on what you’re looking at.

And since they’re grouped together, it blends the numbers and makes it look like everything dropped.

It didn’t.

Also important here, out of the 90 townhomes for sale, about 70 are resale and only around 20 are new construction.

So what buyers are mostly seeing and shopping is resale inventory.

That’s shaping the experience way more than the new builds.

 

Residential Resale by Price Point Breakdown

This is where you can really see how buyers are behaving.

Under 1.199M

This is getting tight.

There are not many true detached homes here, and you can feel that in the numbers.

The few that do come up are getting a lot of attention.

On average, it took around 20+ showings just to get to pending on the couple that sold.

That tells you everything.

Buyers are showing up, looking hard, but also being selective.

And honestly, when you look at what’s available in this range, it makes sense.

A lot of these homes need work.

Not everyone wants to spend close to 1M and still have to renovate.

So buyers are weighing that tradeoff more than ever.

 

1.2M to 1.449M

This is where things start to pick up.

Homes here are moving quickly, and this is one of the ranges actually pushing the market forward.

You’re seeing stronger offers here, including over list in some cases.

Buyers in this range are more serious, more prepared, and more willing to act when something fits.

This is one of the more balanced and active parts of Bellevue right now.

 

1.45M to 1.849M

Same story here, and honestly this is the sweet spot.

This range is doing a lot of the heavy lifting for the entire city.

Homes are moving fast, buyers are competing, and this is where you’re still seeing confidence.

If you’re a seller, this is one of the best positions to be in.

If you’re a buyer, this is where you need to be ready.

 

1.85M to 2.149M

Still moving, but a little more measured.

Buyers here are not rushing. They are evaluating.

Homes are selling, but not everything is getting multiple offers.

Condition and presentation matter a lot more at this level.

2.15M and Up

This range always moves differently, and that hasn’t changed.

There is inventory, and it does sell, but it takes the right buyer.

These buyers are patient, and they are not compromising.

Homes here still move relatively fast when they hit right, but there is less margin for error.

Brandice’s Final Thoughts on Bellevue

This market is giving both buyers and sellers something they haven’t had at the same time in a while.

Options for buyers.

Opportunity for sellers.

But neither side gets to be lazy right now.

Buyer Tip

Just because there’s more inventory doesn’t mean everything is a deal.

Pay attention to why a home is sitting.

Sometimes it’s opportunity.

Sometimes it’s a red flag.

There’s a difference.

Seller Tip

Look at your competition honestly.

Not what sold last month. What’s sitting right now.

That’s who you’re actually competing against.

The sellers winning right now are the ones who understand exactly where they fit in the market and price accordingly.

What I’m Seeing Overall

Yes, inventory is up. That part is real.

But Bellevue is still absorbing what’s coming to market.

That’s the bigger story.

The difference now is not whether homes are selling.

It’s which homes are selling.

There are still canceled and expired listings across every price point.

That matters.

It means pricing, condition, and strategy are starting to separate outcomes more than they were before.

You don’t need to time the market. You need to understand it.

If you own a home in Bellevue and want to know how these numbers impact your equity specifically, request your free personalized Bellevue Equity Snapshot here.

Brandice Raybourn
Coldwell Banker Danforth
brandice@snohomesbybrandice.com

425-367-3881

Recent Bellevue Market Reports

If you want to follow how the Bellevue market has been shifting over the last few months, here are the most recent updates:

• Bellevue Housing Market April 2026 Resale Price Point Breakdown
• Bellevue Housing Market Update March 2026

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