Bellevue’s housing market is experiencing notable shifts, reflecting broader regional trends. As of March 2026, the median sale price for homes in Bellevue was $1.5 million, marking a 6.7% decrease from the previous year. Homes are selling swiftly, averaging eight days on the market, with 133 homes sold in March, up from 116 the previous year.
Inventory levels have seen a slight increase, with 344 homes available in March 2026, representing a 0.32% year-over-year rise. The months of supply now stand at 2.6, up from 2.33 the previous year, indicating a modest shift towards a more balanced market.
In response to the need for affordable housing, Bellevue has initiated several projects. The Altaire at East Main development plans to offer 146 income-restricted units, with construction anticipated to begin in March 2027. Additionally, the city council has committed $12.1 million to Imagine Housing’s Forest Edge project, a 100-unit affordable housing development in the Lake Hills neighborhood.
These developments aim to address the housing needs of Bellevue’s diverse population, providing more options for residents across various income levels. As the market continues to evolve, staying informed about these trends is essential for prospective buyers, sellers, and renters navigating Bellevue’s dynamic real estate landscape.