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Bellevue Real Estate Market Stats

Updated February 2023

Bellevue Median Sales Price
(Single-Family Homes & Townhouses)

For the fourth month in a row, Bellevue’s median sales price for single-family homes and townhouses has been hovering around $1.4M-$1.5M. In January, this came in at $1,498,000 for the median. This is not surprising as January is usually the busiest month of the winter after the holidays wrap up and inventory remains low.

Bellevue Median Sales Price Per Square Foot
(SFH & Townhouses)

Bellevue New Listings

How many new listings did we see in Bellevue in January?

We saw just 80 new listings in Bellevue during the month of January, more than doubling the new listings in December. That’s surprisingly higher than that last three years with January 2019 being the last year with more inventory at 101 new listings.

Bellevue Pending Sales

How many homes went under contract or pending in Bellevue in January?

58 homes were put under contract in January. With just 30 new listings in December, it’s hard for buyers to find the right home. That said, they’re still being patient since that’s below the new listings in the month.

Number of Bellevue Homes For Sale

How many homes were for sale in Bellevue at the end of January?

There were 93 homes for sale at the end of January in Bellevue. Last year, there were 20 homes at the end of the month so comparatively, there’s a lot of inventory for buyers!

Bellevue Median Days on Market

Buyers are being patient right now. Most homes are sitting on the market for a median of 39 days before accepting an offer. Even though home prices have come down a lot since the peak in 2022, interest rates above 6% have continued to shrink budgets and purchasing power.

Bellevue Median Percent of Last List Price

Median percent of list price is down to 93% which supports patient buyers. Homes are sitting on the market longer so sellers would be well advised to make sure they’re pricing their homes correctly to sell it quickly.

Bellevue Closed Sales

How many homes closed in Bellevue in January?

Just 29 homes closed in Bellevue in January, an all-time low. This is not a surprise due to the all-time low of new listings in December.

Bellevue Months of Supply of Inventory (Pending)

Months of supply, a measure of how long it’d take to sell all the homes for sale if no new homes hit the market stayed flat at 1.2 months in January. A balanced market is considered to be 3 months, so we’re still far from a balanced market.

Bellevue Months of Supply of Inventory (Closed)