The Builders’ Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, State of the Cities Data Systems, Office of Financial Management and the Washington State Employment Security Department.

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The Bellevue City Council has adopted an ordinance implementing residential lot splitting, creating another tool to help increase housing opportunities through more efficient land division. The ordinance was adopted on July 28 as part of a larger package of land use code amendments. MBAKS supported adoption and submitted this July 28 letter to the City Council. 

Bellevue deserves recognition for being one of the first jurisdictions in King and Snohomish counties to implement Washington’s new lot splitting law, HB 1096 (now codified in RCW 58.17.145). The City has taken an important step by establishing a local process and ensuring its code is consistent with the intent of state law. MBAKS also appreciates Bellevue staff's collaborative approach and willingness to work through implementation issues before adoption.

One important caveat is that Bellevue's new residential lot splitting provisions will not take effect until July 27, 2027. The City chose to delay implementation to allow time to establish a new, streamlined permit type and complete the work needed to administer the new process. While MBAKS would have preferred an earlier effective date, we appreciate Bellevue's thoughtful approach to implementation and its commitment to creating a permitting process that is as efficient and user-friendly as possible.

What Is Residential Lot Splitting?

HB 1096, passed by the Legislature in 2025, requires cities planning under the Growth Management Act to allow qualifying residential lots to be administratively divided into two lots without requiring a traditional short plat or subdivision process.

The goal is to create a simpler, faster path to divide eligible residential lots while maintaining local development standards, infrastructure requirements, and environmental protections. Once divided, each lot can be developed consistent with local zoning and the middle housing requirements adopted under state law.

Read the new residential lot splitting provisions: Ordinance 6933 beginning at the bottom of page 37. 

Seattle Is the Nation's Hottest Housing Market… Still

Can you count to 15?

That's how many months the City of Seattle has worn the increasingly heavy crown of hottest U.S. housing market. The median home in Seattle now costs more than $718,000, a 16.2 percent rise over the last 12 months according to Zillow. The Seattle-based real estate company does predict the city's massive gains to simmer down to just 5.7 percent over the next 12 months.

Still, 15 months is an impressive streak. And that got us thinking—which streaks have we beat as the nation's fastest-growing residential market in the country, behind first- and second-place losers Las Vegas and San Francisco?

Lance Armstrong recorded seven straight Tour de France victories from 1999 to 2005. I forget what happened after that.

Retired NBA center Chris Dudley once missed 13 straight free throws in a row, one of which included an air ball.

Pro surfer and Baywatch alum Kelly Slater won 11 world surfing championships, including five in a row from 1994 to 1998.

Okay, maybe we're not quite at legendary status yet, but hey, give it time.

The Seattle-based epicenter of explosive home prices has for some time been distributing its affluent ash across the region, covering the greater Puget Sound landscape with extravagant home prices and happy homeowners—and despondent home buyers. But that's life in the Pacific Northwest right now.

Even while Amazon looks to expand its lush landscape and make traffic stand still elsewhere, plenty more workers will be testing our rich soil in the coming months and maybe years, though they'll be paying a hefty price for a spot in our Emerald garden.

Where might one find their dream home in the foggy future?

MBAKS member Quadrant Homes, for one, is looking to build 63 single-family residences near Laurelhurst on the 17.8 acres currently housing the Talaris Conference Center. If all goes according to Quadrant's plan, the homes would be hot property, with individual lots averaging 5,500 square feet upon which homeowners could enjoy high-end residential living and easy access to everything.

While we wait, we can keep counting months and finding new records to compare to…