Bellevue Housing Market
Trends & Statistics | Stay Informed
May 2025 was a Seller's market! The number of for sale listings was up 116.8% from one year earlier and up 40% from the previous month. The number of sold listings decreased 23.4% year over year and decreased 5.8% month over month. The number of under contract listings was up 46.7% compared to previous month and up 18.4% compared to previous year. The Months of Inventory based on Closed Sales was 2.5, up 181.2% from the previous year.
The Average Sold Price per Square Footage was down 1.1% compared to previous month and up 5.4% compared to last year. The Median Sold Price decreased by 6.4% from last month. The Average Sold Price also increased by 2.5% from last month. Based on the 6 month trend, the Average Sold Price trend was "Appreciating" and the Median Sold Price trend was "Neutral".
The Average Days on Market showed a neutral trend, a decrease of 17.6% compared to previous year. The ratio of Sold Price vs. Original List Price was 99%, was the same compared to previous year.
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It was a Seller's Market
Property Sales (Sold)
May property sales were 98, down 23.4% from 128 in May of 2024 and 5.8% lower than the 104 sales last month.
Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 132 units of 116.8%. This year's bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was up 40% compared to the previous month.
Property Under Contract (Pended)
There was an increase of 46.7% in the pended properties in May, with 135 properties versus 92 last month. This month's pended property sales were 18.4% higher than at this time last year.
All reports are published June 2025, based on data available at the end of May 2025, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
The Average Sold Price per Square Footage was Neutral*
The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the 'mix' of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The May 2025 Average Sold Price per Square Footage of $813 was down 1.1% from $822 last month and up 5.4% from $771 in May of last year.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
The Days on Market Showed Neutral Trend*
The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for May 2025 was 14, up 40% from 10 days last month and down 17.6% from 17 days in May of last year.
The Sold/Original List Price Ratio Remains Steady**
The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 99% was down 2% from last month and the same as in May of last year.
* Based on 6 month trend - Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady
All reports are published June 2025, based on data available at the end of May 2025, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
The Average For Sale Price was Depreciating*
The Average For Sale Price in May was $3,005,000, down 9.5% from $3,319,000 in May of 2024 and down 6.3% from $3,208,000 last month.
The Average Sold Price was Appreciating*
The Average Sold Price in May was $2,406,000, up 0.5% from $2,394,000 in May of 2024 and up 2.5% from $2,347,000 last month.
The Median Sold Price was Neutral*
The Median Sold Price in May was $1,928,000, down 4.6% from $2,021,000 in May of 2024 and down 6.4% from $2,060,000 last month.
* Based on 6 month trend - Appreciating/Depreciating/Neutral
It was a Seller's Market*
A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.
*Buyer’s Market: More than 6 months of inventory
Seller’s Market: Less than 3 months of inventory
Neutral Market: 3 – 6 months of inventory
Months of Inventory based on Closed Sales
The May 2025 Months of Inventory based on Closed Sales of 2.5 was increased by 181.2% compared to last year and up 47.5% compared to last month. May 2025 was Seller's market.
Months of Inventory based on Pended Sales
The May 2025 Months of Inventory based on Pended Sales of 1.8 was increased by 80.7% compared to last year and down 5.3% compared to last month. May 2025 was Seller's market.
All reports are published June 2025, based on data available at the end of May 2025, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
It was a Seller's Market*
Absorption Rate measures the inverse of Months of Inventory and represents how much of the current active listings (as a percentage) are being absorbed each month.
*Buyer’s market: 16.67% and below
Seller’s market: 33.33% and above
Neutral market: 16.67% - 33.33%
Absorption Rate based on Closed Sales
The May 2025 Absorption Rate based on Closed Sales of 40 was decreased by 64.7% compared to last year and down 32.6% compared to last month.
Absorption Rate based on Pended Sales
The May 2025 Absorption Rate based on Pended Sales of 55.1 was decreased by 45.4% compared to last year and up 4.8% compared to last month.
All reports are published June 2025, based on data available at the end of May 2025, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
