Bellevue Housing Market Update: What the Numbers Are Really Showing

Bellevue is one of those markets that never behaves like anywhere else, and December’s residential resale data proves it again. I broke everything down by price range so you can get a clear view of what is actually happening. Bellevue is moving fast right now, and the luxury side of the market is surprisingly the strongest.

This report covers residential resale only.

The Luxury Market Is Leading the Way

The most interesting part of this month’s numbers is the price range above two point zero five million. This should be the slowest part of the market, but it is actually one of the most competitive. Almost half of the entire city’s available homes are in this range, and these properties are still selling in about a week. That is incredibly fast for luxury. Buyers in this segment are extremely decisive, and they are not waiting around.

Homes are getting strong showing activity and sellers are holding their pricing power. This is one of the healthiest luxury segments in Bellevue that we have seen in a while.

Mid to Upper Price Ranges Still Favor Sellers

Everything from the mid range up to the luxury tier is leaning in favor of sellers. Homes are moving at a steady pace and the percentage of the original list price remains strong. Buyers are active, and although inventory is higher than it has been in the past, it is not high enough to shift control. Sellers in these ranges still have an advantage as long as they price realistically for the current market.

The Lower Range Is the Calmest Segment

The only part of the market showing a more neutral pace is the lowest price category in the city. This range is still active, but buyers have a little more breathing room compared to the rest of Bellevue. Homes are taking slightly longer to sell and sellers are not getting quite as close to their original list prices. It is not a slow market by any means. It is simply the calmest range compared to the higher price points.

What This Means for Buyers and Sellers

Bellevue is still a strong market across almost every price range. The luxury segment is moving quickly. The mid and upper ranges continue to favor sellers. And the lower range is where you see the most balance.

If you are planning to buy or sell in Bellevue, your experience will depend heavily on your price point. A seller in the lower range and a seller in the luxury range are living in two very different markets right now. The strategy has to match the conditions you are walking into.

Want to Know Where You Fit In?

If you want your numbers broken down or you want to understand how your home would perform in today’s market, reach out any time. I can break it down by your price range or your specific neighborhood so you know exactly what to expect.

You do not need to time the market. You just need to understand it.

Relocating to Bellevue check out my community page: Moving to Bellevue, WA? Real Estate Insights with Brandice Raybourn