Bellevue Busting at the Seams

Puget Sound Business Journal recently released an article rumoring Apple and Amazon's expansion into Bellevue. The article went on to claim that Amazon will lease Centre 425, a 16 story office building currently under construction. Apple also reportedly expressed interest in moving into the property, however they've declined to comment on status. 

Many of you have reached out asking what this means for the Bellevue housing market? In short, the expansion will surely create a huge impact. Bellevue's downtown condominium market will likely see the biggest increase in values. The greater Eastside (Bellevue, Kirkland, Issaquah, Redmond, Sammamish, Bothell) will also see growth as new talent begin to settle in.

When comparing Bellevue's condominium market to Seattle's, Bellevue is significantly less expensive. Prior to the 08' market crash, Bellevue condos were being built faster than you can count. Once the market crashed, condo units were converted to apartment rentals. Recently, however, towers such as Washington Square began re-converting those units to condominiums available for purchase. Due to the influx of units in the market, condominium prices in Bellevue are low compared to Seattle - a surplus in inventory means lower values. If you've ever considered purchasing a condominium in downtown Bellevue, there's never been a better time! Downtown condominium values have not seen significant growth since 2006 and with these two behemoth corporations looking to settle in Bellevue, values are bound to increase! 

Check out my new favorite Bellevue Condo listing (listed at $13.9M - 6,398 sq. ft):