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People who are shopping for a home in the Greater Seattle metro area often end up choosing the downtown Bellevue area.
It’s easy to understand why. From highly rated schools to waterfront views, downtown Bellevue has a lot to offer its residents.
But all of those perks and amenities come at a price. The typical home in this market tends to be fairly expensive, even by Seattle-area standards.
This detailed guide to buying a home in downtown Bellevue will give you a better understanding of the area, what it offers, and what it takes to purchase a home in this unique real estate market.
Downtown Bellevue is the urban core of Bellevue, Washington, a city located across Lake Washington from Seattle. It’s also a major business and residential hub in the Eastside region.
The downtown area offers a mix of modern high-rise condos, luxury apartments, shopping, dining, and corporate offices. It’s a highly walkable area that appeals to professionals, families, and retirees alike.
Depending on traffic, residents can drive to downtown Seattle in about 25 minutes. It’s easily accessible via SR 520 and I-90. This makes downtown Bellevue a popular location for people who commute into Seattle every day for work.
Additionally, the Seattle-Tacoma International Airport is only about 17 minutes away.
There are three things you should know about the downtown Bellevue real estate market right off the bat.
The median home value in downtown Bellevue is currently around $1,112,000, according to Zillow.
In contrast, the median price point for the broader Seattle-Tacoma-Bellevue metropolitan area is currently around $751,000. So downtown Bellevue can be fairly pricey by regional standards.
Bellevue home prices have been trending upward for years, aside from a brief downturn that occurred after the pandemic.
Like many urban cores, the downtown Bellevue area primarily offers high-rise and mid-rise condominiums with modern amenities and perks.
You’ll also find some luxury townhomes in this market, but very few single-family detached homes. If you’re looking for the latter, you’ll have to explore the surrounding suburbs.
The median price for most condos in downtown Bellevue ranges from $750,000 to $1.5 million, depending on size, location, and amenities.
Luxury units, like high-end penthouses and condos located in premium buildings, can exceed $3 million. Examples include Avenue Estates and Bellevue Towers.
The condo market tends to move quickly, with many properties going under contract within one week of being listed. This is largely due to strong demand fueled by Bellevue’s tech-driven economy.
An ongoing supply shortage also contributes to the swift sales pace within the downtown Bellevue real estate market in 2025. When this report was created, the city of Bellevue as a whole had less than a two-month supply of homes for sale.
Real estate in downtown Bellevue continues to evolve with a number of construction projects either planned or in the works. New high-rise developments continue to reshape the skyline.
For the most part, the downtown area is highly walkable for residents, with most daily errands doable on foot. This appeals to people who want to minimize (or eliminate) their car use.
According to the Bellevue Downtown Association:
“Downtown has an average Walk Score of 95, and continues to cultivate a reliable multi-modal transportation network, strengthening economic growth and offering multiple transit options for all.”
You’ll also find a surprising number of parks and green spaces in downtown Bellevue. These include a 21-acre urban park with a large pond, walking trails, and picnic areas. Meydenbauer Bay Park is a waterfront park with beach access and scenic views.
The Bellevue Collection, a premier shopping and dining district, offers more than 200 shops, 50 restaurants and entertainment venues, and plenty of free parking (all connected by sky bridges).
Downtown Bellevue residents have easy access to the surrounding area. The I-405 and SR-520 connect to other major cities in the area, including Seattle, Redmond, and Kirkland.
Traffic congestion can be heavy during peak hours, especially on the I-90 and SR-520 bridges into Seattle. So plan accordingly if you plan to commute back and forth.
King County Metro buses serve downtown Bellevue with frequent stops, giving residents an easy way to get around without having to own a car.
Later in 2025, the East Link Extension will connect Bellevue to Seattle via light rail, significantly improving transit options.
Downtown Bellevue has also become increasingly bike-friendly in recent years, with protected bike lanes and trails being developed.
Every real estate market has pros and cons for buyers, and downtown Bellevue is no different. But this is highly subjective. One person’s downside could be another person’s upside.
Here are some of the potential pros and cons of buying downtown:
Downtown Bellevue has changed a lot over the past 10 years or so and will continue to evolve going forward. There’s a lot happening right now, as of early 2025.
As mentioned above, there’s a major expansion to the light rail system in the area. The East Link Extension, which is currently being expanded, will significantly improve transit options.
According to the City of Bellevue:
“Sound Transit’s East Link light rail line will extend 14 miles from downtown Seattle to the Overlake area in Redmond, with 10 stations in Mercer Island, South Bellevue, downtown Bellevue, BelRed (Bellevue) and Overlake.”
Meanwhile, new luxury condo towers and office buildings continue to reshape the downtown skyline, a trend that will likely continue for several more years.
As you can see, it’s an exciting time to consider buying a home in downtown Bellevue. We hope this guide helps you make a better-informed purchasing decision.
If you’re considering buying a home in Bellevue, WA, we can help. At Sammamish Mortgage, we offer various mortgage options for you to choose from. Visit our website to get an instant rate quote or call us today to have your mortgage questions answered!
Whether you’re buying a home or ready to refinance, our professionals can help.
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No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.