Lately, we’ve been focusing a lot on the many markets in the city of Seattle. Today, we’re going to shift our focus back to the east side. The east side of Seattle is a really an amazing story of rapid growth and development. The city of Bellevue, for instance, has quickly gone from an “up and coming” area to one of the more coveted places to be in the Pacific Northwest. Today, Bellevue has a significantly higher median home value than Seattle! That’s pretty impressive when we consider the history of the two cities.
In this post, we will do for Bellevue what we’ve been doing for Seattle: we will look at two areas within Bellevue to get a better sense of how this market is operating “underneath the hood,” so to speak. As we’ve mentioned before, in order to fully understand what’s happening in a certain area, you have to disaggregate that area and examine its smaller parts.
Crossroads Market Update
As of March, 2020, the Crossroads area of Bellevue had a median home value of $739,436. This is very close to the current median home value in Seattle! This is a pretty impressive figure, all things considered. This figure represents an increase of about 0.9% over the past 12 months. What’s more, experts predict that Crossroads home values will increase by about 4.6% over the upcoming 12 month period. The Crossroads area is a bit below the general median for Bellevue as a whole, but we may see this turnaround in the near future.
Bridle Trails Market Update
The Bridle Trails neighborhood showed even more impressive numbers as of March, 2020. The current median home value in this area is a striking $1.031 million. This represents an increase of just 0.1% during the past year, but experts predict a more significant increase of 3.3% during the next 12 months. This predicted increase is fairly large when we consider the high median value which currently stands in Bridle Trails.
Contact Cobb & Associates for More Info
If you’re planning to buy or sell on the east side, or in Seattle, or north of Seattle in Edmonds or Shoreline, you need an experienced real estate broker you can trust. Adam Cobb has an expert knowledge of many of the real estate markets in the Greater Seattle area and can help you optimize your transaction. Get in touch with Adam today by calling 206-854-9454, or message us through our contact form!
Image credit: Nick Amoscato