Housing Market in Bellevue
Bellevue's 2026 housing market genuinely diverges from several other Tier A+ markets in this dataset: prices were still rising, not correcting -- Zillow's modeled home value ran $1,296,767, Redfin's closed-sale median ran considerably higher at $1,560,000 (up 7.9% year-over-year in one cited period), and single-family homes specifically commanded a median around $2,000,000.
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Learn moreA Real, Disclosed Spread Across Genuinely Different Methodologies
Zillow's Home Value Index (a modeled valuation spanning the full housing stock, including condos) put Bellevue's typical home value at $1,296,767 as of late June 2026, with a separately cited Zillow median sale price of $1,445,834 for January 2026. Redfin's closed-transaction median (via NWMLS) ran meaningfully higher at $1,560,000 as of July 2026, with a separately cited 7.9% year-over-year increase and $1.6M median for February 2026. A separate citation put the median SINGLE-FAMILY home price specifically around $2,000,000 -- a real, substantial premium single-family homes alone command over the blended, condo-inclusive ZHVI figure.
A Genuinely Different Direction From Several Other Markets in This Dataset
Unlike several Tier A+ markets covered elsewhere in this project that entered a genuine, current price-correction phase in 2026, Bellevue's housing market was still appreciating -- a real, disclosed, and meaningful distinction that changes the practical buyer-vs-seller leverage calculus relative to those other markets.
Downtown Bellevue's Commercial Real Estate Is Genuinely, Currently Shifting
As detailed on the jobs-economy topic page, Microsoft has vacated roughly 1.9 million square feet of downtown Bellevue office space as it recentralizes in Redmond, even as downtown office asking rent remains a strong $64+/sq ft with Amazon, Meta, and Salesforce backfilling much of the space. This is a real, current commercial-market dynamic distinct from, but relevant context alongside, the residential housing figures above.
Rent Runs High and Is Still Rising
As detailed on the renting topic page, Bellevue's average rent ran a real $2,962/month as of June 2026, up 9% year-over-year -- consistent with, not contradicting, the still-appreciating home-price picture above.
Real Neighborhood Variance Exists -- See the Best-Areas Page
As with any city, citywide averages understate real neighborhood-to-neighborhood variation. Old Bellevue and Northwest Bellevue command real premiums over Crossroads and Woodridge -- covered in full, with real neighborhood character detail, on the best-areas topic page.
Key takeaways
- Bellevue home values are genuinely high and were still rising as of 2026: Zillow $1,296,767 (modeled, condo-inclusive), Redfin closed-sale median $1,560,000 (up 7.9% YoY in one period), single-family homes around $2,000,000.
- This is a real, disclosed divergence from several other Tier A+ markets in this dataset that were in a genuine 2026 price-correction phase -- Bellevue was not.
- Downtown Bellevue's commercial office market is genuinely, currently shifting as Microsoft vacates ~1.9M sq ft while recentralizing in Redmond, backfilled by Amazon, Meta, and Salesforce.
- Rent runs high and rising too ($2,962/month average, up 9% YoY) -- consistent with the appreciating home-price picture.
- Real neighborhood variance exists -- Old Bellevue and Northwest Bellevue command real premiums over Crossroads and Woodridge, detailed on the best-areas topic page.
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