To get straight to the point, the median home price in Bellevue, WA, as of 2026 is approximately $1.475 million. This is clear. According to Redfin's data from May 2026, the median sale price recorded was $1,475,000, while Zillow reported it at $1,445,834 as of January 2026. This figure represents about an 11% decrease compared to the same period last year, but it should be interpreted as a base effect from the peak in 2024. The market remains strong, and Bellevue is one of the most expensive housing markets in the U.S.

Looking at the inventory situation, there is a slight easing. As of May 2026, the Months of Supply is at 3.4 months, which is a 77.1% increase compared to the same period last year. The total number of listings has also increased by about 48.2% year-over-year. However, this does not indicate a shift to a buyer's market. The single-family home sector is still seller-favored, and a significant portion of the inventory increase comes from condos in downtown Bellevue and the Crossroads area. (Source: Norada Real Estate, Every Door Real Estate, as of May 2026)

The 30-year fixed mortgage rate is holding steady at around 6.5-6.8% for the first half of 2026. Despite the high-interest environment, the reason Bellevue's housing market maintains this price level is clear. The concentration of tech companies like Microsoft, Amazon, and NVIDIA in the Eastside area continues to support demand from high-income tech professionals. Redfin classifies the Bellevue market as "very competitive," noting that there are an average of three offers per listing and that transactions are completed in an average of eight days.

Regarding price forecasts, it can be clearly summarized. Home prices in Bellevue are expected to rise by 2-4% on an annual basis in 2026. According to analyses from Sammamish Mortgage and Norada Real Estate, the prevailing view is that the market is entering a phase of stabilization rather than a sharp increase. While inventory is slightly increasing, the extreme competition seen in 2024 will ease, but a lack of new supply and the continued influx of tech professionals will prevent prices from dropping.

• Median sale price in May 2026: $1,475,000 (according to Redfin)
• Median home price in January 2026: $1,445,834 (according to Zillow)
• Year-over-year price change: approximately -11% (reflecting peak base effect)
• Months of Supply: 3.4 months (May 2026, +77.1% year-over-year)
• Total number of listings year-over-year increase: +48.2%
• Average time on market: approximately 8 days
• Price increase forecast for 2026: 2-4%

From the perspective of genuine buyers, the Bellevue market is slightly more accessible now compared to 2023-2024. However, the median price of $1.47 million still presents a high entry barrier. This is clear. In the condo market, there is room for negotiation, while single-family homes still see multiple offer competitions when good properties come up. Regionally, premium areas like downtown Bellevue, Medina, and Clyde Hill show particularly strong price resilience. If you are considering a purchase, now, with increasing inventory, may be a relatively favorable time for negotiations. (Source: Redfin, Zillow, Sammamish Mortgage, Norada Real Estate, Every Door Real Estate, as of 2026 / This article does not constitute investment or legal advice, and it is recommended to consult a professional before any actual contracts.)