Bellevue Housing Market Update

April 2025

By: Brandice Raybourn

Quick Take

The Bellevue housing market held steady this spring, but that stability tells an important story. The median sales price reached $2.01M, a modest 1% increase from the previous year. In a market at this price level, holding value is often a sign of strength rather than stagnation.

Homes that are priced correctly are still moving quickly. The typical property went pending in about 6 days, which is noticeably faster than the previous year. When buyers see the right home in Bellevue, they are still acting decisively.

Inventory expanded significantly compared with the prior year, giving buyers more homes to consider. Even with that increase, the overall number of listings remains limited relative to demand, which is why strong homes are still attracting competitive offers.

Closed sales were slightly lower, suggesting buyers were becoming more selective. At these price levels, buyers tend to slow down and evaluate their options carefully rather than rushing into every listing that hits the market.

Overall, Bellevue continued to behave like a premium market. More listings created a little breathing room for buyers, but homes that showed well and were priced appropriately were still moving quickly.

What This Means Across Bellevue’s Resale by Price Points

Activity varied depending on where a home was priced.

Homes under about $1.15M remained extremely limited. Very few listings existed in this range, which meant buyers often had to compete quickly when one appeared.

The $1.15M to $1.45M range remained active but more balanced. Buyers were still competing, but they were beginning to take a bit more time comparing options.

Homes priced between $1.45M and $1.93M continued to see strong demand. Well prepared listings in this range often moved quickly, especially if the home was updated and priced in line with buyer expectations.

At the $1.93M and above level, inventory expanded the most. Buyers shopping in this range had more options and tended to take a little longer evaluating homes, but well presented listings were still attracting attention.

Bellevue Market Snapshot

The April numbers reflected a market that was active but becoming slightly more thoughtful.

The median price held around $2.01M, showing continued stability in Bellevue home values.

Homes were still moving quickly, with an average market time of 6 days before going pending.

Inventory rose to 127 active homes, giving buyers more selection than the year before.

Even with the additional inventory, sellers were still receiving strong offers, averaging 101.2% of the original list price.

These conditions showed a market that remained competitive while gradually offering buyers a bit more breathing room.

Thinking About Buying or Selling in Bellevue?

If you are considering buying or selling in Bellevue and want to talk through what the current market means for your situation, feel free to reach out anytime. I am always happy to help you understand what is happening locally and what options might make sense for you.