09/24/2026
97 New-Home Sales. $303.7 Million. What Is Really Happening in Bellevue and Kirkland?
New construction remains an active part of our local housing market—but the numbers reveal very different markets within Bellevue and Kirkland.
I reviewed a selected MLS report containing 97 new-home sales, with reported sale-status dates from February through September 23, 2026. Together, these transactions represent approximately $303.7 million in sales.
Here is what buyers, sellers, and property owners should understand.
Location and the type of home make an enormous difference.
Across the properties included in this report:
• East Bellevue — MLS Area 530: 34 sales, averaging $3,448,675. The median was $3,125,000, with prices ranging from approximately $2.61 million to $6.49 million.
• West Bellevue / Clyde Hill — MLS Area 520: 12 sales, averaging $5,612,333. The median was $5,490,000. This group includes two Clyde Hill sales; excluding those, the 10 Bellevue-address properties averaged $5,304,800.
• Kirkland — MLS Area 560: 51 sales, averaging $2,335,818. The median was $2,450,500, with prices ranging from $960,000 to $4.9 million.
These averages need context. The average home size in the report was approximately 5,681 square feet in the West Bellevue/Clyde Hill group, 4,522 in East Bellevue, and 2,891 in Kirkland.
That means the price differences reflect both location and substantially different homes. Kirkland’s lower average does not mean an equivalent home automatically costs that much less.
The busiest months were May and June.
Each recorded 18 sales, making them the strongest months in this report. Together, they accounted for approximately 37% of all 97 transactions.
The monthly breakdown was:
• February: 6
• March: 11
• April: 6
• May: 18
• June: 18
• July: 11
• August: 15
• September through the 23rd: 12
Activity varied by area. East Bellevue peaked in May and August, with seven sales each. West Bellevue/Clyde Hill peaked in June, with four. Kirkland’s strongest month was May, with 10.
These are reported sale-status dates. They show when transactions were recorded in the report, rather than necessarily when buyers made their purchasing decisions. September is also incomplete, so it should not be compared directly with a full month.
Who is buying these homes?
The report does not identify buyers’ occupations, financing, previous addresses, or motivations. Claims that most buyers are tech employees, international purchasers, or cash buyers would require additional evidence.
What the numbers do show is demand across several price levels. In Kirkland, 19 of the 51 sales were below $2 million. Across all three groups, 44 of the 97 sales were at $3 million or above.
My interpretation is that new construction serves several different needs: smaller homes with modern layouts, larger homes for buyers moving up, and substantial luxury residences. The sales demonstrate purchasing power; they do not tell us exactly where that money came from.
What does rising inventory mean?
If the increase from approximately 20 available homes in January to around 119 now reflects the same geography and property criteria, it would represent a significant expansion in buyer choice.
However, those inventory figures are separate from this sold-property report and still need to be reconciled. More available homes alongside completed sales can mean builders are bringing properties to market faster than buyers are absorbing them.
For builders, the key question becomes: how does this home compete on price, layout, lot, quality, and location? For buyers, the opportunity is to compare those details carefully and evaluate the full terms of a purchase.
Will 2027 be busier?
My outlook is conditional: 2027 could bring more transactions, but these figures alone do not establish that it will.
Lower financing costs, stronger employment confidence, and competitive builder pricing could help inventory convert into sales. If new supply continues to outpace demand, buyers could gain more negotiating room and builders may need to adjust pricing or incentives.
A busier market also does not automatically mean higher prices. Sales volume can increase because homes become better aligned with what buyers are willing and able to pay.
After more than 26 years in real estate, my advice is to study the specific competition around a property. A smaller Kirkland home, a large East Bellevue residence, and a West Bellevue luxury estate each require a different pricing and buying strategy.
Thinking about buying new construction, selling your home, or evaluating your property’s redevelopment potential? I’m happy to help you understand the numbers that apply to your situation.
Oleg Doukhnevitch | The Oleg Group
Windermere Bellevue Commons
Source: supplied MLS Single Family Single Line report, 97 records with S and S-UL statuses. Figures describe the selected properties in that report; September data is partial. Market interpretation and the 2027 outlook are opinions, not guarantees.
