Good morning. Five minutes on what moved in Bellevue this week, one item for your own neighborhood, the market in three numbers, and one practical thing for the house.
Bellevue this week
The budget math, in one number: about sixteen dollars. Council spent September 22 on the revenue side of the preliminary 2027–2028 budget and the 2027–2032 capital plan. Staff projected a slow, cautious recovery and no new tax rates beyond the 1% property tax growth state law allows — roughly $15.70 a year on a median $1.63 million Bellevue home. The capital plan was reorganized into five portfolios: general government facilities, the Grand Connection and mobility, parks, public safety and utilities. Final hearing October 27, adoption November 17. Source
The Spring District's north blocks would become housing instead of offices. Wright Runstad has applied to amend the Spring District master plan: the blocks north of the light rail line switch from office to residential and residential-with-retail, with below-grade parking, a realigned roadway and a new linear park. A virtual public meeting runs Wednesday, October 7 at 6 p.m.; comment is open now. File 26-120531-LP. Source
Bellevue is planning its largest reservoir. The Meydenbauer South Reservoir is meant to carry growth and firefighting capacity across western Bellevue. Utilities Director Lucy Liu and Deputy Director Joe Harbour host a community meeting Thursday, October 8, 6:30 to 8 p.m., City Hall Room 1E-108. Source
Four crosswalks got painted, and the city is asking whether they work. Nikita Ares and Kenji Stoll designed two each: 164th Avenue NE at NE 24th Street, 124th Avenue NE at NE 8th Street, 132nd Avenue NE at Bel-Red Road, and 106th Avenue NE at NE 10th Street. A five-minute survey is open until November 30. Source
The school-district flu and COVID clinics are open to everyone. Appointments required, ID and insurance card in hand: Chinook Middle School October 6, Bellevue High October 8, Big Picture School October 15, Sammamish High October 16, Tillicum Middle School October 22. Source
Your neighborhood
Bridle Trails. The four gateway signs that mark the entries to Bridle Trails are being replaced this year, and installation is scheduled for November. Residents voted the project onto the Neighborhood Enhancement Program list and then picked the design; the new signs use stone cladding, brick or concrete with metal elements, since wood is not allowed under the city's maintenance rules. Source
Sold near you: 6 homes closed within a mile of the neighborhood center in the last 45 days, median $2.49M (range $1.50M to $6.00M); the fastest went from listing to closing in 57 days.
BelRed. Koz on BelRed is approved. The city issued design review approval with conditions for a six-story, 188-unit building at 13800 NE Bellevue-Redmond Road — 139 micro-apartments and 49 one- and two-bedroom units, 35 parking stalls, and 143 of the 188 units designated affordable. File 23-111025-LD; the appeal period closed September 30. Source
Sold near you: 6 homes closed within a mile of the neighborhood center in the last 45 days, median $603K (range $490K to $1.73M); the fastest went from listing to closing in 42 days.
Cougar Mountain/Lakemont. The largest of the five projects Lakemont residents voted through on a $377,000 neighborhood budget is a long one: crews are pulling non-native vegetation out of city greenbelts at Lakemont Community Park, Lakemont Highlands Park, Lewis Creek Park and the Coal Creek Natural Area and replanting natives, with completion set for December 2028. 570 ballots came back in that vote. Source
Sold near you: 8 homes closed within a mile of the neighborhood center in the last 45 days, median $1.73M (range $1.32M to $2.88M); the fastest went from listing to closing in 11 days.
Crossroads. Both sides of 148th Avenue NE between NE 8th Street and Bel-Red Road are being replanted this fall: degraded, water-hungry grass out, soil rebuilt, drought-resistant plant combinations in. It is one of three projects funded from the neighborhood's $439,000 enhancement allocation, and completion is set for fall 2026. Source
Sold near you: 8 homes closed within a mile of the neighborhood center in the last 45 days, median $1.16M (range $435K to $2.73M); the fastest went from listing to closing in 21 days.
Downtown. The billion-dollar expansion of Bellevue Square is shelved. Kemper Development confirmed on September 28 that "The Bellevue" — three towers on 3.6 acres at the southeast corner of Bellevue Way NE and NE 4th, about 1.75 million square feet with 234 residential units, a 157-room hotel, nearly 300,000 square feet of retail and six levels of underground parking — will not advance under current ownership, and is left to whoever buys the Bellevue Collection. Existing properties keep operating and the 2026 event calendar stands. Source
Sold near you: 32 homes closed within a mile of the neighborhood center in the last 45 days, median $1.47M (range $410K to $5.60M); the fastest went from listing to closing in 3 days.
Eastgate. Two dates. The Eastgate neighborhood area plan cleared its Planning Commission hearing on September 23 and goes to City Council on November 10. Separately, the city released a request for qualifications on September 17 for a design-build team on Bellevue Airfield Park — 27.5 acres off I-90 with a community park and an aquatic center in the adopted master plan; design is expected to start in the first half of 2027. Plan · Park
Sold near you: 20 homes closed within a mile of the neighborhood center in the last 45 days, median $1.26M (range $760K to $3.55M); the fastest went from listing to closing in 14 days.
Factoria. The Factoria neighborhood area plan had its final-review public hearing at the Planning Commission on September 23 and now goes to City Council on November 10, alongside Eastgate's. Both plans came out of about ten months of community input and set policy on neighborhood identity, centers, gathering space, mobility and environment. The draft is posted for reading before council takes it up. Source
Sold near you: 11 homes closed within a mile of the neighborhood center in the last 45 days, median $760K (range $440K to $2.80M); the fastest went from listing to closing in 25 days.
Lake Hills. Lake Hills Boulevard between 151st and 154th Avenues SE was closed through October 1 for the Kelsey Creek culvert replacement plus sewer and water work near Larsen Lake; the street, the Lake to Lake Trail, the sidewalk and the crosswalk detours all come down with it. And Lake Hills is now writing its own neighborhood area plan: a public space assessment walk runs Saturday, October 3, registration encouraged but not required. Closure · Walk
Sold near you: 16 homes closed within a mile of the neighborhood center in the last 45 days, median $1.09M (range $503K to $3.55M); the fastest went from listing to closing in 21 days.
Newport. The city has issued an amended decision approving, with conditions, the expanded safe parking facility at Newport Presbyterian Church, 4010 120th Avenue SE, along with a modified SEPA determination. The original July 29 approval and its environmental determination were withdrawn and reissued after the Hearing Examiner dismissed administrative appeals on September 16 for lack of jurisdiction. Files 26-102130-LR and 26-102178-LM; there is no administrative appeal, and the deadline to file in King County Superior Court is October 14. Source
Sold near you: 12 homes closed within a mile of the neighborhood center in the last 45 days, median $1.02M (range $325K to $1.89M); the fastest went from listing to closing in 24 days.
Northeast Bellevue. A cautionary permit story on 28th Place. The city approved a critical-areas permit with conditions at 17041 NE 28th Place to resolve two retaining walls and a gravel area built without permits — part on private property, part in unimproved right-of-way, all inside a steep-slope buffer and a stream setback. The right-of-way portion is to be restored to its prior condition, and the case sits alongside an open enforcement action. File 25-124402-LO. Source
Sold near you: 7 homes closed within a mile of the neighborhood center in the last 45 days, median $950K (range $435K to $1.43M); the fastest went from listing to closing in 21 days.
Northwest Bellevue. Today is the last regular Thursday market: the Bellevue Farmers Market runs 3 to 7 p.m. at 1717 Bellevue Way NE, then closes the season, with two Saturday fall markets on October 31 and November 21, 10 to 3. Meanwhile the 100th Avenue NE walkways project is in its second phase, with sidewalk, shared-use pathway and raised intersection work on NE 18th Street, 98th Avenue NE and NE 21st Street running through the fall. Market · Walkways
Sold near you: 12 homes closed within a mile of the neighborhood center in the last 45 days, median $1.81M (range $235K to $6.00M); the fastest went from listing to closing in 34 days.
Somerset. Somerset Boulevard SE between SE Newport Way and SE 43rd Street is in design for a safety package: sidewalk, crosswalks, traffic calming and related improvements, with the city still evaluating alternatives before it settles on a design. It is funded through the transportation levy's neighborhood safety program. Source
Sold near you: 15 homes closed within a mile of the neighborhood center in the last 45 days, median $1.73M (range $445K to $3.25M); the fastest went from listing to closing in 24 days.
West Bellevue. The Eastrail is closing its I-90 gap through West Bellevue. The city has filed a land use application to build a sidewalk or paved shoulder on the south side of SE 32nd Street from 118th Avenue SE to the west side of the train trestle, plus a shared-use path on the west side of 118th Avenue SE from I-90 to SE 32nd Street — the Mountains to Sound Greenway connection. File 26-114712-LO; the comment period runs to 5 p.m. October 7. Source
Sold near you: 25 homes closed within a mile of the neighborhood center in the last 45 days, median $1.53M (range $410K to $5.60M); the fastest went from listing to closing in 3 days.
West Lake Sammamish. Two items. The city approved a clearing and grading permit at 16814 SE 35th Street to cut two black poplars in a stream buffer inside a recorded Native Growth Protection Area; both are to be left standing as wildlife snags, with six native replacement trees planted, backed by an arborist report and risk assessments (file 26-114853-GJ). And West Lake Sammamish has begun its own neighborhood area plan, with a public space assessment walk on Saturday, October 3. Permit · Plan
Sold near you: 5 homes closed within a mile of the neighborhood center in the last 45 days, median $2.38M (range $1.14M to $2.97M); the fastest went from listing to closing in 25 days.
Wilburton. The pedestrian bridge that would carry the Grand Connection over I-405 into Wilburton is at 30% design and moving: minimum 30 feet wide, widening to 40 over the freeway, with entry points and elevators at 112th and 116th Avenues NE and separated paths for walking and rolling. Cost is estimated at $175 to $230 million, $46.7 million is committed in the capital plan, and the city's 2026 milestones are 60% design, the tax-increment analysis and selecting the general contractor. Opening is anticipated in 2030. Source
Sold near you: 22 homes closed within a mile of the neighborhood center in the last 45 days, median $1.40M (range $550K to $5.00M); the fastest went from listing to closing in 22 days.
Woodridge. (evergreen) Woodridge Open Space at 12855 SE 17th Street is 20 acres of upland forest with a half-mile loop trail through fir, cedar and maple, over bridges and small streams and across steep slopes. It is part of the Richards Valley Greenway, and the trail links Woodridge to Richards Road, the Lake to Lake Trail and the Richards Valley trail system. Source
Sold near you: 13 homes closed within a mile of the neighborhood center in the last 45 days, median $1.57M (range $605K to $5.15M); the fastest went from listing to closing in 26 days.
The market in 60 seconds
Three numbers from the live sales data behind the monthly Bellevue market report: the median sold price is $1.48M, the median home takes 49 days from listing to closing, and there are 7.0 months of inventory at the current pace. The direction has not changed, it has just kept going: 5.9 months of inventory three weeks ago, 6.8 two weeks later, 7.0 now. Active listings keep drifting up, 680 to 681 to 692, while closings in the trailing 30 days went 116, then 100, then 99. Under three months of inventory favors sellers and above six favors buyers, and Bellevue has now spent three straight pulls on the buyer side of that line. The full report, with the trend lines behind these numbers, is here: Bellevue market report #market
Seen on Good Day Seattle. Adriano was on Fox 13 Thursday morning, twenty minutes after Freddie Mac printed the 30-year at 7.03%. The short version: the rate hike froze the market rather than sinking it. On a Bellevue single-family house at this week's median of $1,765,000 with 20% down, the payment is now about $9,420 a month, roughly $975 more than the same house would have cost at February's 5.98%, and owners holding 3% mortgages are simply not listing. The math, the sources and the clip are on one page: Seattle's mortgage payment after the rate hike
One useful thing: the furnace, and the $6,000 sitting next to it
The first genuinely cold week is usually the one that finds the problem, and the week everyone calls at once. Two things worth doing before then. First, run the heat for twenty minutes now rather than in November: a new filter, a listen for anything that grinds or shudders, and a look at the vents. A service call booked in early October is a different experience from one booked on the first freezing night.
Second, if the furnace is near the end and you are pricing a replacement, price the heat pump too. Energy Smart Eastside, the joint program run by Bellevue and five neighboring cities, applies a $1,000 rebate at the point of sale on qualifying ducted or ductless heat pumps installed by an approved contractor, and households under 150% of King County's area median income can add a $5,000 bonus rebate on a fully electric system with no furnace backup — up to $6,000 off, taken off the project cost rather than mailed back later. The program passed its thousandth Eastside installation in June. City page · Rebates
That's the week. Reply with anything you want tracked in Bellevue, and if a neighbor would read it, forward it. Next Thursday: what the Spring District meeting produced, and the first look at the council's October budget deliberations.
Curious what your place would sell for right now? Reply with your address.
The Bellevue Dispatch is a RexMont Real Estate publication. Adriano Tori, Designated Broker. Reply to this email and a person reads it.