If you are looking to purchase or list Bellevue, WA Real Estate, being aware of the current market conditions can make or break your experience. As a seller, knowing the current average and median sold prices, as well as price per square foot, days on market, etc. can ensure you list appropriately. As a buyer, this knowledge ensures that you feel confident about making an offer on a home for sale in Bellevue, WA that has a high chance of getting accepted. As a local Bellevue, WA realtor, I utilize the local Northwest Multiple Listing Service to pull these numbers monthly in order to make sure I am providing recent and accurate information. So how is the west side of Bellevue, WA real estate doing? Let’s take a look!
The great news for sellers is that both the median and average sold price for Bellevue, WA real estate is up. This means that your home for sale in Bellevue, WA has likely increased in value compared to even just a couple months ago. The median sold price is up 5.4% at $1,317,000 while the average is up 11.3% at $1,724,950. The average price per square foot for a home for sale in Bellevue, WA is up 11.1% at $613. The average percentage of list price (which indicates your negotiation power) is at 100%, on average, which basically suggests that the average real estate in Bellevue, WA is getting full price. When you work with a qualified Bellevue, WA realtor, they can give you more tailored information that is comparable to your home specifically and not just the general west side of Bellevue. New listings for this area are down 8%, homes for sale are down 24%, pending sales are up 4.6% and closed sales are up 6%. The median days on market are down 15.4% at 11 days while the average days on market are up 8.9% at 49. As we are still in a seller’s market, this area only has 2.2 month supply. A balanced market needs a 6 month supply. If you are looking for a Bellevue, WA realtor, feel free to give me a call. I would be happy to help!