Bellevue Housing Market Update

Posted by The Cascade Team Real Estate on Wednesday, August 22nd, 2012 at 2:44pm

There are currently 566 active residential homes for sale in Bellevue, with an average price of $900,931; down slightly from our last report.  In addition, there are now 97 short sale listings in Bellevue, at an average price of $502,847, along with now only 8 bank owned homes, at an average price of $456,131.  It appears the market is has shown some signs of stabilization after the last few months of strong sales and lack of inventory. 

There are currently 297 active residential condos for sale in Bellevue, with an average price of $487,634, a fairly substantial uptick in pricing and inventory from the last report.  Short sale inventory is also climbing wit 85 short sale condos in Bellevue, at an average price of $205,142; which is up nearly 10%.  Lastly, there are now 7 bank owned condominiums, at an average price of $164,800, which would lead you to believe that banks are now focusing more on keeping people in their homes or working on completing a short sale.  This is a good sign for those people both looking to sell short, as well a home buyers looking to purchase a short sale home. 

Feel free to contact us for more information on Bellevue real estate or with any short sale questions you may have.

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