Bellevue’s real estate market is experiencing notable shifts, reflecting broader regional trends. As of June 2026, the median home price stands at $1,600,000, marking a 5.9% decrease compared to the same period last year. This decline suggests a cooling market, offering potential opportunities for buyers.
Market Dynamics
The city currently has 624 active listings, equating to 4.5 months of inventory. This balance indicates a market where neither buyers nor sellers hold a distinct advantage. Homes are selling in a median of 19 days, with an average sale-to-list price ratio of 97.9%, suggesting that properties are generally selling close to their asking prices.
Rental Market Insights
For renters, the median rent price in Bellevue is $3,100 per month. Year-over-year, rent prices have seen a slight decrease of 0.41%, indicating a modest softening in the rental market.
Regional Context
These local trends align with broader patterns observed in the Seattle metropolitan area. For instance, in March 2026, Seattle-area single-family home prices fell 2.5% year-over-year, marking the largest decline among major U.S. metros. Factors such as increased inventory and higher interest rates have contributed to this cooling trend.
Looking Ahead
As Bellevue continues to evolve, staying informed about these market dynamics is crucial for both buyers and sellers. While the current environment presents challenges, it also offers opportunities for those prepared to navigate the changing landscape.