Bellevue’s real estate 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, a 14.7% increase year-over-year.
Inventory levels remain tight, with only 2.6 months of supply available. This limited availability continues to favor sellers, as properties are selling for approximately 99.63% of their asking price.
In response to the housing demand, new developments are underway. High Street Residential and MetLife Investment Management have announced plans for an eight-story, 214-unit multifamily community near the Wilburton Light Rail Station. This transit-oriented project aims to provide additional housing options in a highly walkable neighborhood.
For prospective buyers, the current market offers opportunities to negotiate, given the slight dip in prices and increased inventory. Sellers, on the other hand, can still benefit from the relatively quick sales and high sale-to-list price ratios. Staying informed about these trends is crucial for making strategic decisions in Bellevue’s dynamic real estate environment.