Bellevue, WA 98009 Real Estate Market Report

ZIP Code: 98009
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: This ZIP code has limited single-family residential (SFR) inventory. Metrics are based primarily on other residential property types (e.g. condos/townhomes) as a proxy, so treat SFR conclusions as directional rather than precise.

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Executive Overview

The Bellevue, WA real estate market in April 2026 shows a stable environment with some appreciation, particularly in lower to mid-price ranges. The neighborhood has increased 15% since 2023, reflecting a positive trend in median sold prices, which is a key indicator of market value and transaction activity. This appreciation suggests that buyer demand remains robust, supported by a strong local economy driven by technology and business services.

Market activity appears to be characterized by elevated inventory levels, indicating a balance between supply and demand. The market temperature is currently neutral, suggesting that while there is moderate sales activity, it does not lean heavily towards either buyers or sellers. Additionally, rental demand remains strong, although rents have seen a slight year-over-year decrease, which may indicate some caution in the rental market as interest rate pressure is assessed as moderate.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Liquidity metrics unavailable due to insufficient data quality.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. The neighborhood has increased 15% since 2023, indicating strong appreciation in median sold prices.

2. Market temperature is currently neutral, suggesting balanced conditions between buyers and sellers.

3. Elevated inventory levels may indicate moderate transaction volume, providing opportunities for buyers.

4. Rental demand remains strong, but rents have seen a slight year-over-year decrease, reflecting potential caution in the rental market.

5. Interest rate pressure is assessed as moderate, which may impact buyer affordability and overall market dynamics.

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Notable Properties

The following 1 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.