Bellevue’s real estate market is experiencing notable shifts, reflecting broader regional trends. 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 are typically going pending in around 17 days, indicating a still-active market despite the price dip.
Market Trends
Recent data reveals a slight cooling in the market. The median sale price has decreased by 11.3% compared to the same period last year, settling at $1.5 million. Homes are now selling in about 8 days on average, a slight increase from 5 days the previous year. This trend aligns with the broader Seattle area, where home prices have seen a 2.5% year-over-year decline as of March 2026.
Rental Market Dynamics
The rental market in Bellevue remains robust. The average rent is approximately $2,796, reflecting a 0.7% increase over the past year. This is notably higher than the national average rent of $1,965, underscoring Bellevue’s desirability and the premium associated with living in the area.
Upcoming Developments
Looking ahead, Bellevue is poised for significant development. The Cloudvue project, slated for completion in 2027, will introduce two 600-foot office towers offering 1.8 million square feet of modern office space. This mixed-use development aims to balance jobs, housing, and unique amenities, further enhancing Bellevue’s appeal.
In summary, while Bellevue’s real estate market is experiencing a slight cooling, it remains dynamic. Prospective buyers and renters should stay informed about these trends and upcoming developments to make well-informed decisions in this evolving landscape.