Area 520
Year in Review
A data-driven analysis of the Bellevue, Clyde Hill, Medina, Yarrow Point, Hunts Point & Evergreen Point luxury market โ comparing YTD 2025 vs. YTD 2026 (through May 24).
Four Things You Need to Know
The market has fundamentally shifted in 12 months. Prices are up, but so is patience required.
Where Prices Moved Most
Avg. sold price by market segment โ 2025 (dim) vs. 2026 (bright gold). Heights scaled to $18M max.
2025 vs. 2026 โ Side by Side
All figures cover January 1 through May 24 for each respective year. Listed and off-market transactions combined.
| Metric | 2025 YTD | 2026 YTD | Change | Signal |
|---|---|---|---|---|
| Total Transactions | 114 | 76 | โ33% | Volume Thinning |
| Median Sold Price | $3,300,000 | $4,075,000 | +23.5% | Strong Appreciation |
| Average Sold Price | $3,853,738 | $4,740,455 | +23.0% | Strong Appreciation |
| Avg. Original List Price | $4,142,225 | $5,015,467 | +21.1% | Seller Confidence |
| Avg. Days on Market (Listed) | 26 days | 56 days | +115% | Buyer's Pacing |
| Sale Price % of List Price | 100.14% | 97.45% | โ2.7 pts | Normalizing |
| Sale Price % of Orig. Price | 99.50% | 95.84% | โ3.7 pts | Negotiation Returns |
| Off-Market Transactions | 25 (22% of total) | 12 (16% of total) | โ52% | Declining |
| Avg. $/SqFt (Listed) | $1,207/sf | $1,175/sf | โ2.6% | Larger Homes Selling |
| Avg. Square Footage | 3,303 sf | 3,985 sf | +20.6% | Move-Up Buyers Active |
What This Means for Buyers & Sellers
Context behind the numbers โ from someone who lives and breathes this market daily.
The Area 520 luxury market in 2026 is telling a nuanced story: prices are significantly higher, but the market has lost its frenetic pace. This is not a sign of weakness โ it is a sign of maturation.
The median price crossing $4M for the first time on a YTD basis is a meaningful milestone. But with only 76 transactions closed through May versus 114 a year ago, the pool of willing sellers remains constrained. Many homeowners locked in sub-3% mortgage rates have little motivation to move, which artificially caps supply and supports prices even as buyer demand moderates.
The doubling of days on market is the most significant behavioral shift. Buyers in 2026 are conducting proper diligence. They're less reactive, more analytical, and more willing to walk away. This creates a bifurcated market: turnkey, accurately priced properties still generate competitive interest, while anything that requires justification sits and accumulates days.
The drop in off-market activity โ from 22% to 16% of all transactions โ suggests that sellers who once could execute quietly are now more willing to test the open market, or that the institutional and ultra-high-net-worth buyer pool conducting pocket deals has thinned.
Six Signals to Watch
Tactical intelligence distilled from the data for both buyers and sellers navigating this market.
