bellevue RESIDENTIAL - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 1.5 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 18% VS 2023
▲ 15% VS 2023
▼ 14% VS 2023
▼ 28% VS 2023
There were 72 residential listings in Bellevue in February, 20% above January and 14% lower than February 2023. February residential sales increased by 32% month-over-month, to 49, and were 28% below February 2023. The months of inventory for residential in Bellevue, at 1.5, reflected a sellers' market. The residential median price in February was $1,760,000, a 9% decrease from January and 15% above February 2023. The average sold price was $2,310,687, 3% below last month and up 18% to February 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
49 72
68 84
18% 15% 19% -28% -14%
37 60
-3% -9% -9% 32% 20%
$2,310,687 $1,760,000 1.5
$2,390,686 $1,935,000 1.6
$1,956,018 $1,525,000 124%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
152
42
142
128
128
103 144
108
99
94
91
106
100
96
68 84
73
85
65
72
73
68
62
60
37 60
49
14
$1.96M
$1.83M
$1.82M $1.94M
$1.76M
$1.74M $1.85M
$1.68M
$1.64M $1.65M $1.62M $1.73M
$1.53M
6
Feb-23
Jan-24
Feb-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
35
30
6.0
25
4.0
20
15
2.5
10
1.0
0.7
0.4
5
0.2
0
<$600K
$600K-799K
$800K-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M +
MOI INVENTORY SALES
1 0 n/a
2 0 n/a
6 1 0.2
6 6 1.0
9 6 0.7
7 3 0.4
2 12 6.0
3 12 4.0
13 32 2.5
Copyright © March 7, 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of March 7, 2024. All data from Northwest Multiple Listing Service & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
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