Bellevue, WA housing market

In Bellevue this month, the clearest signal is the gap between what sellers are asking and what homes are actually worth. The typical home value is about $1.58 million, down roughly 2.7 percent over the past year. But the median list price is sitting near $1.75 million, and that spread is showing up in the data. Nearly one in five active listings has already taken a price cut. There are about 640 homes for sale right now, with roughly 234 new listings hitting the market, so buyers have real choices. Homes are taking about 35 days to sell, which is enough time for buyers to negotiate. For homeowners, the read is straightforward. This is a market that punishes overpricing. Sellers who aim high are sitting, then cutting. If you are thinking about selling, price close to what the market is actually paying, not where values were a year ago. Know your number first, and you can still sell well here.