I’ve noticed more “For Sale” signs popping up around central Bellevue, Washington, sparking curiosity about whether now is a good time to sell. Is this area still a seller’s market, or are conditions shifting? Let’s break down the key metrics to find out, focusing on supply, days on market (DOM), and price trends.
Here’s what the data shows for central Bellevue (using Redfin data1 and Windermere Bellevue Market Update2):
- Inventory is climbing: Months of Supply (Closed) has risen to ~2.5–3 months in August 2025, up from ~1.5 months in 2024, per NWMLS and Redfin data . This means it takes longer to clear active listings, signaling growing supply.
- Homes are lingering longer: Median DOM is ~16–18 days (June–August 2025, 3-month rolling average), up from ~10 days in 2024 but below the 2023 peak of ~25–30 days during the high-rate/tech-layoff slump, per NWMLS and Redfin data.
- Prices are softening: Median sale price in 98005 is ~$1.42M–$1.5M (August 2025), down ~5.3% year-over-year. This dip mirrors 2023 levels, though prices per square foot ($729) are up 6%. Per Redfin data and Windermere Bellevue Market Update.
What does this mean? A balanced market has 4–6 months of supply. At ~2.5–3 months, this neighborhood remains seller-favorable but is cooling — inventory is up 45% YoY, and 22% of listings saw price cuts in August. The chart below, based on NWMLS/Redfin data, shows the trend toward a buyer’s market since the 2023 DOM spike.
| Period | Months of Supply | Median DOM |
|---|---|---|
| Q1 2023 | ~4 months | 25-30 days |
| Q4 2024 | ~1.5 months | ~10 days |
| Aug 2025 | ~2.5-3 months | 16-18 days |
Interpretation: The market is tilting toward buyers. Rising supply and longer DOM suggest fewer bidding wars and more room for negotiation (e.g., ~2% below list price on average). Sellers may still command strong offers, especially for well-priced homes in prime areas like downtown Bellevue, but the window for peak seller advantages is narrowing.
Should you sell now? If you’re in this area, selling soon could capitalize on lingering seller’s market conditions before supply hits 4+ months, which would favor buyers more. However, personal factors – like relocation needs or financial goals – also matter. Set expectations realistically: multiple offers and waived contingencies are likely to be less common than in 2021–2022.
[I am not liable for any errors and omissions in this post]
Good luck!
Gary Purchase, Licensed WA Agent | Kelly Right Real Estate of Seattle LLC
- Redfin data: https://www.redfin.com/zipcode/98005/housing-market ↩︎
- Windermere Bellevue Market Update: https://getthewreport.com/category/local-market-update/ ↩︎
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