Inventory in Bellevue has expanded on a rolling three-month basis, with active listings up more than 12 percent year over year to 920 homes. New listings have also risen compared with a year ago, while homes sold and pending sales have edged down, pointing to softer overall demand. With months of supply more than doubling year over year to about four months, buyers now have more options and a bit more time to make decisions.
Prices are adjusting to this shift in balance. The typical home value over the latest three-month period has slipped a little more than 6 percent from a year earlier, and the median list price is down nearly 4 percent year over year. Sellers are still achieving near-full asking prices with an average sale-to-list ratio just under 100 percent, yet the share of homes selling above list has fallen notably compared with last year.
Speed has changed sharply compared with the recent past, as the median days on market has more than tripled year over year to about a week, even though many properties still go under contract quickly. Roughly 63 percent of homes are off the market within two weeks, showing that well-priced listings continue to draw strong interest. These rolling three-month trends mean sellers must price carefully in a more supplied environment, while buyers can negotiate with a bit more confidence, and Agent Pronto can connect both buyers and sellers with a Bellevue agent who understands these conditions.
