98008, Bellevue, WA

Bellevue, Washington is a city located in King County, Washington. According to the 2010 census, Bellevue had a population of over 129,000 people. The city is home to many high-tech companies and has been ranked as one of the most livable cities in America. Bellevue's economy is based largely on technology and services. Home equity and home prices are important factors in the city's economy.

Bellevue's median home value was $527,500 in January 2017 according to Zillow. This represents an increase of 5% from January 2016 and a decrease of 2% from January 2015. The average sale price for homes within Bellevue during this time period was $569,000 which represented an increase of 4% from January 2016 and a decrease of 1% from January 2015.

The 98008 zip code covers much of eastern Bellevue including most of the city's affluent neighborhoods such as Newport Hills, Factoria Park East, Stonegate Estates, Lake Hills East and more rural areas such as Deer Creek Valley and Northshore Estates.

Home values within this zip code have increased significantly over the past several years due to strong demand for housing stock within Bellevue among both buyers and sellers alike. While there may be some regional variation depending on specific neighborhoods within the zip code (for example Deer Creek Valley may be more affordable than Stonegate Estates), overall prices have continued to rise due to strong job growth in Seattle coupled with limited supply relative to population growth in Bellevue over the past several years.

While there are some pockets where prices have decreased (for example around NE 45th Street near I-405), these areas tend to be less expensive than other parts of town so they don't represent a large portion of overall market activity. Overall it appears that while there may be some localized volatility due to economic conditions outside of Bellevue (such as rising interest rates or decreases in stock prices), overall prices continue to rise relatively steadily year after year which should continue into 2017 barring any major unforeseen events or changes in market conditions