Bellevue Housing Market Update | July 2026

Bellevue Real Estate Isn't One Market Anymore

By: Brandice Raybourn

The market insights in this report are based on NWMLS data analyzed by Brandice Raybourn. This report breaks down local housing activity by housing type and residential resale price range. While these trends help explain what is happening across the market, individual neighborhoods, properties, and price points can behave very differently. To see how these trends compare to your specific situation, use the market analysis request form included in this report.

Quick Take

If someone called me today and asked, "What's happening in Bellevue?" I'd probably start with this:

Bellevue had 632 active listings available during June, yet only 148 homes actually closed. That's already interesting. But what really caught my attention wasn't what sold.

It was what didn't.

A staggering 190 listings failed to make it to the closing table during June, including 156 canceled listings and 35 expired listings. That's the highest number of failed listings I've seen in any of the cities I currently track.

At the same time, Bellevue buyers clearly showed us where they're willing to spend money.

Condos actually outperformed every residential resale price range in total closed sales, and among resale properties, the $1.45M-$1.849M range produced the most closings.

And then there's new construction.

The average new construction home that sold in Bellevue during June closed at an eye-popping $3.3 million, which is now more than double the average sales price across Bellevue as a whole.

Woof.

The takeaway? Buyers are absolutely still buying in Bellevue. They're just being incredibly selective about what they're willing to buy and what they're willing to pay.

Bellevue Whole City Overview

June saw 632 active listings, down slightly from last month's 644, while pending sales increased from 147 to 160.

Closed sales increased from 115 to 148, which is a substantial jump month over month.

Median days on market increased slightly from 10 to 11 days, while sellers accepted an average of about 3.1% less than their original asking price, compared with roughly **2.2% less last month.

The median sales price increased from $1.59M to $1.61M, although as always, changes in median price can reflect changes in the types of homes sold rather than actual appreciation.

What stands out most to me is the disconnect between homes that successfully sold and homes that never made it to closing at all.

While 148 sellers successfully closed, another 190 sellers left the market entirely.

That's a huge number.

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Bellevue New Construction

New construction continues to operate in its own universe.

Inventory increased from 101 to 107 homes, while pending sales remained unchanged at 16.

Closed sales increased from 16 to 18, but the biggest story here is price.

The average sales price of new construction homes that closed during June was approximately $3.3 million, more than double the average Bellevue home sale.

At the same time, median days on market dropped dramatically from 52 days to just 8 days, and sellers accepted only about 0.6% less than their original asking price.

This suggests that while buyers may be selective, they're moving very quickly when the right luxury new construction product becomes available.

Most builders pay for your buyer's agent. So bring one with you on your first visit. If you don’t have one yet… call me 😉 425-367-3881

Want me to look at the numbers for your specific neighborhood?

I pull these NWMLS stats from Scratch every month because generic headlines miss the real story. If you're planning a move in King or Snohomish County in the next 90 days, drop your email and your neighborhood below. I'll personally look at your specific price point and email you the reality of your local market.

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

Bellevue Condos

Honestly, condos may have been Bellevue's strongest housing type during June.

Inventory remained relatively stable, increasing slightly from 259 to 262 active listings, while pending sales jumped significantly from 36 to 49.

Closed sales decreased slightly from 39 to 34, but condos still produced more closed sales than any individual residential resale price range.

This one caught my attention.

Buyers continue showing us that if they want a Bellevue address but don't necessarily want a Bellevue detached home price tag, they're willing to compete for condos.

Median days on market improved from 20 days to 17 days, while sellers accepted about 2.8% less than their original asking price.

Bellevue Townhomes

Townhomes had a mixed month.

Inventory increased slightly from 87 to 90 active listings, while pending sales declined from 23 to 14.

However, closed sales remained unchanged at 16.

Median days on market improved dramatically from 30 days to just 16 days, while sellers accepted about 3.6% less than their original asking price.

The median sales price increased from $762,500 to $848,750, although again, changes in the mix of homes sold can influence median prices.

Residential Resale Market by Price Point

These price ranges are based on residential resale data only, and the showing numbers are based on closed properties. Active listings on the market may be having a different experience.

Under $1.199M

This market continues to have one major problem.

There just aren't very many homes available.

Only 10 active resale listings were available under $1.199M during June, with just 7 homes closing.

For buyers hoping to purchase a traditional Bellevue single-family home under this price point, options remain extremely limited.

What really stood out here was seller performance.

These sellers accepted, on average, about 10% less than their original asking price, by far the largest discount of any Bellevue price segment.

My suspicion is that some higher-priced listings eventually sold after significant price reductions and moved into this category.

Buyers also toured these homes heavily, averaging approximately 16 showings before properties went pending, suggesting buyers remained interested but highly price-sensitive.

$1.2M to $1.449M

This range slowed compared to last month.

Inventory decreased from 28 to 22 active listings, while pending sales increased modestly from 13 to 15.

Closed sales, however, jumped significantly from 8 to 18.

Despite the increase in sales activity, sellers still accepted approximately 4.7% less than their original asking price.

Showings averaged about 16 buyer walkthroughs before homes went pending, suggesting competition remains present but buyers continue negotiating aggressively.

$1.45M to $1.849M

This was the strongest residential resale range in Bellevue during June.

Inventory decreased from 40 to 29 active listings, while pending sales remained strong at 22.

Most importantly, this range produced 29 closed sales, the highest total among all resale price ranges.

Median days on market remained extremely low at just 7 days, while sellers accepted about 1.6% less than their original asking price.

showings averaged approximately 15 buyer walkthroughs before homes went pending, suggesting healthy competition remained throughout June based on the 7 sold properties.

$1.85M to $2.149M

This range may have had the strongest seller performance in Bellevue based on the closed sales .

Inventory remained stable at 29 active listings, while pending sales increased from 8 to 13.

Closed sales increased from 5 to 9.

Most notably, sellers accepted only about 0.9% less than their original asking price, making this the closest any resale range or housing type came to achieving full asking price.

Median days on market remained just 4 days.

$2.15M+

Luxury inventory remains where most of Bellevue's available resale inventory currently sits.

There were 90 active listings during June, representing by far the largest inventory concentration among Bellevue's resale markets.

However, only 13 homes closed.

Median days on market increased from 4 to 12 days, while sellers accepted approximately 2% less than their original asking price.

Interestingly, buyers only averaged about 9 showings before homes went pending, suggesting that luxury buyers continue to know exactly what they're looking for.

The challenge appears to be matching the right buyer with the right property and at the right price.

Market Summary

June reinforced something we've seen repeatedly in Bellevue.

This is not one market.

It's several markets operating simultaneously.

Buyers clearly remain active, but they have become increasingly selective.

Condos continue attracting buyers who want access to Bellevue without the detached home price tag.

Luxury new construction remains remarkably resilient.

And perhaps most importantly, sellers who miss the market entirely may be becoming just as important a story as sellers who successfully close.

With 190 listings failing to sell during June, pricing strategy, property presentation, and understanding your specific market segment may matter more than ever.

Why I Publish These Reports

I publish these reports to help buyers and sellers understand local market conditions using real NWMLS data.

Broad headlines are fine, but they rarely explain what is happening by city, housing type, or price range.

Curious How This Applies to You?

If you are wondering how these Bellevue numbers apply to your home, neighborhood, or plans, I am always happy to help you look at the data more specifically.

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

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