Bellevue’s real estate market continues to evolve, reflecting broader regional trends and local dynamics. As of mid-2026, the average home value in Bellevue stands at approximately $1.47 million, marking a 3.9% decrease over the past year. Homes typically go pending in around 17 days, indicating a relatively brisk market pace.
Market Trends
Recent data reveals a slight softening in home prices, with a 3.9% year-over-year decline. This adjustment aligns with increased inventory levels, providing buyers with more options and potentially greater negotiating power. The median sale price as of May 2026 is $1,377,325, with a median list price of $1,465,000. Notably, 27.4% of sales have closed above the list price, while 52.7% have closed below, suggesting a balanced market.
Inventory and Sales Dynamics
For-sale inventory has risen to 617 homes as of June 30, 2026, with 220 new listings entering the market. The median days to pending is 17, reflecting sustained buyer interest. However, the sale-to-list ratio stands at 0.991, indicating that homes are selling slightly below asking prices on average.
Rental Market Insights
The rental market in Bellevue remains robust, with an average rent of $2,796 as of June 2026. This figure represents a 0.7% year-over-year increase, suggesting steady demand for rental properties. Bellevue’s average rent continues to surpass the national average of $1,965, underscoring the city’s desirability and economic vitality.
Looking Ahead
As Bellevue’s housing market adjusts, both buyers and sellers should stay informed about current trends. Buyers may find increased opportunities due to rising inventory and slight price adjustments, while sellers should be mindful of pricing strategies in a more competitive environment. The rental market’s stability offers continued opportunities for investors and renters alike.