Bellevue, WA Housing Market 2026: Prices, Trends, and Forecast

Updated on: October 29, 2026

The Bellevue, WA housing market is the market for single-family homes, condos and townhomes across Bellevue's ZIP codes 98004 through 98008, tracked here by closed sale prices, days on market, inventory and long-run price-index history. Use the dated figures below to judge where the Bellevue real estate market stands before you buy, sell or hold.

Key takeaway

NWMLS reported a September 2026 median sale price of $850,000 for homes and condos in King County, which includes Bellevue. That is roughly flat from a year earlier, while county inventory rose 31.1%, so conditions are moving away from a strong seller's market and toward balance. The latest NWMLS data points to flat prices rather than a sharp move up or down.

Who this guide is for

Buyers, sellers and owners tracking Bellevue home prices to decide when to buy, sell or hold.

Related guides: Average rent in Bellevue, Average cost of a home in Bellevue, Investing in Bellevue, WA real estate, New home developments in Bellevue, Property taxes Bellevue, Build my own home in Bellevue, HOA fees Bellevue.

Bellevue housing market at a glance

• Seller's market: under 4 months of supply. Balanced: 4 to 6.
• King County single-family median: $949,975 in September 2026.
• 30-year fixed rate: 7.32% on Oct. 22, 2026.
• Metro price index rose about 2.1% from late 2024 to late 2025.
• U.S. median existing-home price: $417,500 in September 2026.

Bellevue housing market data for 2026

Different sources publish different "Bellevue price" numbers because they measure different things:

For the bigger picture, see Ultimate Guide for Bellevue.

• Closed-sale medians: figures from NWMLS or Redfin describe homes that sold.
• Median list price: describes what is for sale now. It differs from the closed median because it covers different homes, not because buyers negotiated a discount.
• Zillow's home value index: estimates the value of all homes, sold or not.
• FHFA index: covers the whole metro area rather than Bellevue alone.

A single month's median can also swing with the mix of homes that closed.

Current prices, days on market, and inventory trends

NWMLS's September 2026 Market Snapshot gives the most recent dated figures for the county that contains Bellevue:

• Median sale price, homes and condos (King County): $850,000, September 2026.
• Median single-family price (King County): $949,975, September 2026.
• Year-over-year price change (King County): essentially flat from September 2025.
• Inventory (King County): up 31.1% from September 2025.

Three other measures help with an offer or a list price:

• Median days on market for sold homes: tells a buyer how long they have to decide and a seller how long to expect before an offer.
• Time current listings have been sitting: a long wait here signals stale inventory where buyers have more room to negotiate.
• Sale-to-list ratio: shows how close to asking price homes close.

Is Bellevue a buyer's or seller's market right now?

NWMLS's reporting measures this by months of supply. Industry experts consider under four months of inventory a seller's market and four to six months balanced, which leaves more than six months as a buyer's market. Months of supply compares active listings with the pace of sales, so this year's rise in county inventory with flat prices pushes that figure up. On that evidence, the market has shifted from the tight seller's conditions of recent years toward balanced, though well-priced homes in high-demand pockets can still draw quick offers. Compare the latest months-of-supply reading for Bellevue against those thresholds before setting strategy.

For buyers, more inventory means:

• more room to negotiate price;
• a better chance of keeping inspection and financing contingencies;
• fewer head-to-head bidding situations than in 2021 and early 2022.

For sellers, price from recent comparable sales, not last year's peak. An overpriced listing in a market with growing inventory tends to sit longer and then need a price cut. That can leave it selling for less than a correctly priced home would have. Preparing a home and choosing a listing strategy matter more when buyers have more alternatives.

Condo vs. single-family market in Bellevue

In September 2026, King County's single-family median sat well above the combined median for homes and condos. Because condos pull the combined median down, they remain the lower-cost entry point into the area.

A single median also hides the spread. The price range covering the middle half of closed sales shows where typical sales land. In Bellevue that band is wide because condos and large houses sell side by side.

When comparing the two types, look at whether condo prices are rising faster, slower or in step with houses, and which type is selling faster. That shows where buyers have the most room to negotiate. HOA dues add to a condo's monthly cost and vary widely by building, so compare total monthly cost, not just price.

Bellevue market by ZIP code

Bellevue's five ZIP codes, 98004, 98005, 98006, 98007 and 98008, each have their own median price, price trend and selling speed, and those numbers can differ widely within one city. A buyer's budget and a seller's list price should rest on recent comparable sales in the same ZIP, and ideally the same property type, rather than a citywide or countywide median.

Check how many sales a ZIP median is based on. A median drawn from a small number of closings can swing from month to month, so a window of several months gives a steadier read.

For a quick read on one ZIP, compare the number of pending sales with active listings on the same date. Few pendings against many active listings means buyers can compare homes and negotiate. A high share of pendings means homes are going fast.

Price data does not show how each neighborhood feels day to day; neighborhood guides and visits fill that gap.

How Bellevue compares to Seattle, Kirkland, and Washington State

Washington prices are essentially flat to slightly down. Across the 27 Washington counties NWMLS covers, the September 2026 median was 0.9% below September 2025.

The national median is still edging up. NAR put the U.S. median existing-home price at $417,500 in September 2026, up 1.3% from $412,300 a year earlier, the 39th straight month of year-over-year gains.

King County's median runs about twice the national figure. Seattle and Kirkland share the same county-level trend. To see how Bellevue's price level and pace stack up, compare each city's latest median and days on market from the same source and month.

Bellevue home price trends over time

FRED publishes the FHFA All-Transactions House Price Index for the Seattle-Bellevue-Kent metropolitan division, not for Bellevue alone. Because it covers Seattle too, it also serves as the long-run price record for the Seattle market. It is a repeat-sales index, so it shows the direction and size of price change rather than a dollar price. The index is set to 100 in the first quarter of 1995.

The run-up was long and steep. The index reached 554.94 in the fourth quarter of 2025, meaning metro prices are more than five times their early-1995 level. Prices climbed fastest into the spring of 2022, when low mortgage rates met tight supply. As rates rose that year, the region went through a correction and prices fell from their peak.

Since then, growth has been modest. The index rose from 543.42 in the fourth quarter of 2024 to that level a year later, an increase of about 2.1% over 2025.

Are Bellevue home prices dropping? Crash risk explained

Prices are holding roughly flat rather than falling sharply. The measured decline in recent years was the 2022 correction.

A correction and a crash are different:

• Correction: a drop in prices as demand cools, like the 2022 decline after rates jumped.
• Crash: driven by forced sales, when many owners must sell at once because of job losses or loans they cannot carry.

The lock-in effect described in the mortgage section, with many owners holding low-rate loans, works against forced selling.

Several things support Bellevue prices. The city is bounded by Lake Washington and Lake Sammamish, which limits outward growth and new land. The regional employer base, weighted to technology, drives housing demand across the Eastside.

The risks are real too: tech-sector layoffs, mortgage rates staying high, and affordability at current price levels.

Signals of a sharper fall to watch:

• Active listings: a continued steep rise beyond this year's county increase.
• Days on market: homes taking noticeably longer to sell.
• Price cuts: a growing share of listings reducing their price.

How mortgage rates are affecting Bellevue buyers

Freddie Mac's survey put the 30-year fixed rate at 7.32% for the week of October 22, 2026. That is down from 7.40% the week before but well above the 6.19% average a year earlier. An increase of more than a full point raises the monthly principal and interest on a loan of the same size by a meaningful amount, which shrinks what buyers can pay at Bellevue price levels.

Higher rates also keep listings scarcer than they would otherwise be. Owners holding low-rate loans are slow to sell because a new purchase would mean a much higher rate. As of the second quarter of 2026, 49.1% of outstanding U.S. mortgages carried a rate below 4%, according to the FHFA National Mortgage Database. That is down from a peak of 65.2% in early 2022. As that share falls, more owners become willing to move, which helps explain rising inventory.

Property taxes, homeowners insurance and any HOA dues sit on top of principal and interest. What a household can borrow depends on its income and debts, so check how much house fits your budget before touring. First-time buyers may qualify for assistance programs that help with a down payment or closing costs.

Bellevue housing market forecast for 2026-2027

The most recent dated outlook, NWMLS's September 2026 Market Snapshot, covers King County rather than Bellevue alone. It points to a stable to softening market heading into 2027, not a rapid rise.

Steel Realty Group view: the indicators on this page lean toward a balanced market. Prices are flat, inventory is climbing, and rates remain well above last year's level.

For a buyer deciding whether to wait, the trade-off is possible price gains against possible rate relief. With prices flat, waiting carries less price risk than in past years, but a drop in rates could bring more buyers back quickly.

Frequently asked questions

Is it expensive to live in Bellevue, Washington?

Yes, mainly because of housing. Bellevue sits in King County, where the median sale price runs far above the national median, and 30-year rates above 7% raise the monthly payment further. Groceries, utilities and other everyday costs make up the rest of the cost of living in Bellevue and come on top of housing.

When is the best time of year to list or buy a home in Bellevue?

NWMLS's 2025 Annual Statistical Review shows new listings and pending sales typically peak in May, while closed sales and active inventory peak in July. For sellers, that makes late spring and early summer the busiest selling window. Buyers shopping in slower months face fewer competing offers but have fewer homes to choose from.

Is Bellevue real estate a good long-term investment?

Long holds have paid off, as the price-index history shows, but buyers at the 2022 peak saw prices fall. Results depend on how long you hold and when you buy, so no return is guaranteed.

Sources

• NWMLS Market Snapshot, May 2026
• NWMLS Market Snapshot, September 2026
• NWMLS 2025 Annual Statistical Review
• NAR Existing-Home Sales, September 2026
• FRED, FHFA All-Transactions House Price Index for Seattle-Bellevue-Kent, WA (ATNHPIUS42644Q), Q4 2025
• Freddie Mac Primary Mortgage Market Survey, October 22, 2026
• CalculatedRisk, FHFA National Mortgage Database, Q2 2026