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Bellevue, Washington is one of the most popular real estate markets in the Seattle area. And if you currently live there, or have visited in the past, you probably already know why. It has low crime rates, great schools, cultural and recreational opportunities, and plenty of natural splendor.
It’s also one of the most expensive real estate markets in the state of Washington, and for all of the same reasons mentioned above. So you definitely want to do some research before entering this housing market.
We created this guide for anyone who is planning to buy a home in Bellevue in 2026. This report contains all of the latest statistics, news and developments you should know about when buying a home in Bellevue.
Like the rest of the Seattle metro area, the Bellevue real estate market experienced a sharp rise in home prices that began during the second half of 2020. This trend continued well into 2022, culminating in an all-time high median home value of more than $1.4 million.
But starting in the late summer of 2025, home prices in Bellevue, Washington began to decline. This mirrored a broader trend happening across the country, as real estate markets nationwide began to cool. It’s what economists often refer to as a market “correction,” following a period of overheated home-buying activity and price gains.
But prices are on an upward trend. According to Zillow, the median price within the Bellevue real estate market was up to $1,296,767 as of April 2026.
If you’re planning to buy a home in Bellevue in 2026, you could benefit from steady appreciation over the long term, for the reasons stated above.
Trying to buy a house in a hot real estate market can be frustrating. When buyer demand greatly exceeds supply, home buyers are forced to compete fiercely and often find themselves in bidding wars. They sometimes have to waive their contract contingencies and pay more than the asking price.
Higher home prices and mortgage rates have shrunken the pool of qualified buyers. This is true for cities all across the country, and to some extent within the Bellevue real estate market as well.
Seattle-area tech company layoffs have also reduced demand within the housing market. Even those who held their jobs through the recent shakeup might now feel some financial uncertainty. People are generally more reluctant to enter the real estate market when they feel their job could be at risk.
However, there appears to be a healthier outlook on the economy. So, those with healthy finances may look to the real estate market in Bellevue. However, buyers who purchase a home in Bellevue in 2026 could encounter strong competition within the real estate market.
Here’s some more good news for those are planning to buy a home (or, more specifically, a condo unit) in Bellevue, Washington. Two new condominium projects are coming onto the market in 2026.
Avenue Bellevue is a two-tower development with 365 residential condos, a 250-room InterContinental Hotel, and ground-level retail.
The Mari condominium project, also located in Bellevue, is currently under construction. This 17-story tower will offer 138 condominiums including studio, one-, two-, and three-bedroom residences.
These new condominium towers, along with other construction projects, will bring more inventory to a real estate market that could really use it.
And speaking of inventory, here something else you should know about buying a home in Bellevue in 2026…
A couple of years ago, there was practically no inventory within the Bellevue real estate market. You probably know why, due to all of the news coverage at the time. The COVID pandemic created a sharp increase in home buyer demand, across the Seattle area and elsewhere in the country. This drove inventory levels down to record-low levels.
Overall, supply conditions have improved since then. In March 2026, for example, the Bellevue housing market had about a 2.4-month supply of homes for sale based on Closed Sales, or 1.9 months based on Pended Sales. While still considered to be below normal, that’s a big improvement from the 0.5-month supply level experienced during the pandemic days.
Do you plan to buy a home in Bellevue, WA, sometime soon? Do you need mortgage financing to complete your purchase? We can help. Sammamish Mortgage has been helping borrowers across the Pacific Northwest since 1992, including Washington State, Colorado, Idaho, California, and Oregon. We offer many different mortgage programs with flexible qualification requirements to suit the needs of each borrower, including our Diamond Homebuyer Program, Cash Buyer Program, and Bridge Loans. Contact us today if you have questions about applying for a mortgage. Or, visit our website to get an instant rate quote.
Yes. Bellevue is one of the most expensive real estate markets in Washington due to strong demand, highly rated schools, low crime rates, and its desirable location in the Seattle metro area.
Home prices in Bellevue have been trending upward again in 2026 after declining from their 2022 peak.
The median home value in Bellevue was $1,296,767 as of April 2026.
Yes. Competition remains healthy in Bellevue, especially for well-priced homes, even though higher mortgage rates and affordability challenges have reduced some demand.
Yes. Buyers can still encounter bidding wars in Bellevue, particularly when desirable homes are listed in sought-after neighborhoods or price ranges.
Yes. Inventory has improved compared to the extremely low levels seen during the pandemic, but the market is still relatively tight by historical standards.
In March 2026, Bellevue had about a 2.4-month supply of homes based on closed sales, or 1.9 months based on pended sales, which indicates limited supply.
Yes. New condominium supply has been added through projects such as Avenue Bellevue and Mari, both of which were completed and had presale closings in 2024.
New Bellevue condo developments include a range of unit types, including studio, one-bedroom, two-bedroom, and three-bedroom residences.
Bellevue has strong long-term appeal because of its schools, amenities, economic base, and location, which can support home values over time.
Whether you’re buying a home or ready to refinance, our professionals can help.
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