One of the biggest factors in the health of the Bellevue real estate market is the lower ratio of distressed sales compared to the rest of the nation. A National Association of Realtors recent report just showed that distressed sales (short sales and bank owned foreclosures) are now accounting for 36% of home sales… on the contrast Bellevue impressively clocked in at only 18.87% for all 2010 sales of single family homes, roughly half the national average!

Another positive note was the increased volume of sales of single family homes. 2010 saw 1,012 finalized sales which was up almost 19% from 2009's tally of 851 finalized sales.

The average sale price of single family homes in Bellevue for 2010 also rose 5.65% to $711,998 compared to $673,939 in 2009. Median sale prices (half sold for more and half sold for less), dropped a few percent to $582,685 in 2010 compared to $605,639 in 2009, which combined with the average price increase makes for an extremely flat year in prices. On the bright side for sellers, the average time on market improved to an average of 70 days in 2010, down from 80 days in 2009.