Walking through downtown Bellevue, you can quickly notice that most of the new buildings going up are high-rise condos. Simply put, this means that those looking for new construction in Bellevue are more likely to encounter condos or townhomes rather than single-family homes with yards. Let's explore why this trend is happening and how prices actually differ.

First, looking at the overall picture, the median home sale price in Bellevue was $1.56 million as of July 2026, according to Redfin data, which is a 2.3% increase from the previous year. When broken down by type, the differences become significant. The median price for single-family homes is $1.86 million, while the combined median for condos and townhomes is $625,000. This represents nearly a threefold difference. For condos alone, prices can range from $496,000 to $680,000 depending on the time of the survey, likely due to variations between downtown and the outskirts.

There's one more aspect to consider: the new construction market. As of April 2026, the median sale price for new homes in Bellevue is $2.45 million, which is significantly higher than existing listings. In areas like Bellevue, where land is expensive, building high-density condos or townhomes on the same lot is often more financially viable than constructing new single-family homes, leading to a natural shift in new supply towards condos and townhomes.

When it comes to actual choices, it can be summarized like this: if you prioritize having a yard and independence, you should aim for a single-family home, but the budget burden can be substantial. If you prioritize new amenities and accessibility, condos are a more realistic option. If you're looking for a balance between space and price, townhomes could be a viable alternative.

Another factor to consider is the management fees. Condos typically have higher monthly fees because the management association takes care of most of the building's exterior, structure, and facilities. Townhomes have exterior maintenance handled by the HOA, while interior maintenance is the owner's responsibility. Single-family homes usually have little to no management fees, but the owner is responsible for all maintenance. It's important to not just compare purchase prices but also to factor in these management fees when calculating monthly expenses.

Bellevue is also considered a highly rated area among Korean families for its school district. However, school district boundaries can change frequently, so it's advisable to verify which school a particular address is assigned to using GreatSchools or district office resources before making a contract.

Let's also touch on financing. Banks may check the financial status of the HOA and reserve funds for condos, which means that even with the same income, the approval process may take longer. In contrast, single-family homes and townhomes are processed based primarily on personal credit and income, making the procedure relatively straightforward.

If you're considering renting, it's important to check the regulations as well. Some condo complexes impose limits on the percentage of units that can be rented or require a minimum owner-occupancy period. Townhomes and single-family homes generally have fewer such restrictions. However, since rental income can't be guaranteed, it's wise to also consider the potential for vacancies and increases in management fees.

For families moving from out of state, it's beneficial to understand the characteristics of Washington state. Unlike other states, Washington has no state income tax, but there is a real estate excise tax that applies when buying and selling property. The exact tax rate and conditions can vary by county and time, so it's advisable to check the latest information.

This trend continues in the new home market as well. Nationally, the proportion of townhomes in new supply is increasing, as confirmed by statistics from the National Association of Home Builders, and this trend is even more pronounced in Bellevue, where land prices are particularly high. When considering resale, single-family homes tend to attract a broader range of buyers, while condos and townhomes may have limited buyers depending on loan conditions and HOA financial status.

The current market is balanced with 4.5 months of inventory, with properties selling in an average of 22 days and contracts being made at around 97.5% of the asking price. The prices and statistics mentioned in this article are not investment or legal advice, and it's recommended to consult with a real estate agent and tax professional before finalizing any contracts.