Bellevue Real Estate & Housing Market Update

Posted by The Cascade Team Real Estate on Thursday, May 24th, 2012 at 8:31am

There are currently 524 active residential homes for sale in Bellevue, with an average price of $967,875; up from our last report.  These numbers reflect an increase in housing inventory from the last report , but a continued uptick in pricing.  In addition, there are now only 64 short sales in Bellevue, at an average price of $524,336, another uptick in pricing, along with now only 9 bank owned homes, at an average price of $601,528.  It appears the market is now shifting towards a sellers market, as days on market continue to shift down and prices continue to edge higher.  These are positive signs that Bellevue's housing market is strong.

There are currently 257 active residential condos for sale in Bellevue, with an average price of $412,074.  In addition, there are 48 short sale condos in Bellevue, at an average price of $189,617, along with 17 bank owned condominiums, at an average price of $217,764.  The average prices for both short sale and bank owned condominiums are continuing to fall.  This could be fueled by the fact that buyers are not as interested in distressed condos as the new construction and arms length resales are more appealing. 

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

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