West Bellevue (real estate area 520) which includes Bellevue, West of I-405, North of I-90, South of I-520 (east of Bellevue Way), West of Bellevue way it goes up to the water front peninsulas, such as Yarrow Point, Hunts Point, Evergreen Point (which is Medina). Medina and Clyde Hill make up for the bulk of the prime real estate.
You see a lot of the picture perfect houses with pristine landscape. With the new I-520 toll bridge, it’s all a short commute to Seattle. Great school ratings and the recent expansion of Bellevue Square and Bellevue Collection also make the area more enticing for investors from overseas and cities that are more expensive than Seattle, such as San Francisco and New York.
Historically Clyde Hill, Medina, Yarrow Point, Hunts Point, and the parts of Bellevue that have views were the exclusive areas with demanding real estate prices. It still stays true. A tear down in a prime location with views can go for $2.5- $2.7 million. New construction being $5-$7.5 million.
Recent years with the Bellevue Square and Bellevue Collection expansion, Downtown Bellevue feels a lot more vibrant with shops, restaurants, grocery stores and gyms. The parts of Bellevue that don’t have views, as long as it has walkability to downtown Bellevue, and isn’t too noisy from Bellevue Way, prices have creeped up to $3-$4 million.
Apple Valley(east of Bellevue way, West of I-405, North of NE 12th) and Enatai (South of Main St, West of Bellevue Way), a tear down would be around $1-$1.3 million. New construction for the most part $2.5-$3.5 million on average. These areas are lagged behind the prime areas of West Bellevue.