Downtown Bellevue First Quarter Condo Market Statistics

2023 had a bumpy start. There’s been a lot drama and speculation regarding interest rates, the stock market, investments, employment, etc. While the eastside hasn’t been immune to these issues, the downtown Bellevue condo market has looked like a fairly normal spring market. Sales prices are gradually increasing, the difference between list price and sale price is narrowing and the days-on-market continues to decline.

DOWNTOWN BELLEVUE CONDO MARKET STATISTICS  –  2023 YEAR-TO-DATE

1st Quarter 2023
total condos sold in 1st quarter     25
average sale price                            $913,398
average days on market                 66
% of sale price vs. list price           97.7%

April 2023 sales
total condos sold in month          17
average sale price                          $970,382
average days on market               42
% of sale price vs. list price         99.35%

Current Pending Sales
total condo pending sales           14
average list price                          $1,186,986
average days on market              40

There are 42 condos actively listed for sale in downtown Bellevue with an average list price of $1,820,196. This includes several new construction pre-sale units that won’t be available for occupancy in the 3rd or 4th quarter of 2023. Removing the pre-sale units, there are just 28 homes available for occupancy within 30 days of closing escrow.