Team Luxe Real Estate | Market Insights
Bellevue, WA
Single-Family Homes
206-672-5724 | https://teamluxere.com/
Bellevue, WA
Sun Dec 22 2024
This week the median list price for Bellevue, WA is $3,570,000 with the market action index hovering around 50. This is about the same as last month's market action index of 50. Inventory has decreased to 78.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has achieved a relative stasis point in terms of supply and demand - conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result.
Real-Time Market Profile
| Median List Price | $3,570,000 | |
| Median Price of New Listings | $3,199,997 | |
| Per Square Foot | $855 | |
| Average Days on Market | 92 | |
| Median Days on Market | 67 | |
| Price Decreased | 36% | |
| Price Increased | 0% | |
| Relisted | 9% | |
| Inventory | 78 | |
| Median Rent | ||
| Market Action | 50 | |
| Strong Seller's Market | ||
Prices continue their climb again this week. We’re a long way from the market’s price high-point so watch the Market Action Index as an indicator of how long this trend will last.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $10,995,000 | 6,290 | 0.5 - 1 acre | 5 | 6 | 24 | 1 | 1 | 105 |
| $4,595,000 | 4,840 | 0.25 - 0.5 acre | 5 | 5 | 6 | 5 | 2 | 63 |
| $3,037,500 | 4,127 | 0.25 - 0.5 acre | 4 | 4.3 | 10 | 4 | 3 | 59 |
| $1,996,500 | 3,200 | 0.25 - 0.5 acre | 5 | 3 | 51 | 4 | 3 | 63 |