Is Kent, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Kent has remained a Seller's Market.
Housing Prices in Kent, WA
How much do homes in Kent, WA cost?
Median Sold Price
$644,675
$338/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Kent was $644,675 in May 2024, up 7.4% from last year, and the median price per square foot was $338.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $260K | $259.9K | 0% |
2 Bedrooms | $375.1K | $378K | +0.8% |
3 Bedrooms | $565K | $613.3K | +8.6% |
4 Bedrooms | $690K | $730K | +5.8% |
5+ Bedrooms | $760K | $824.2K | +8.5% |
Summary: Kent housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 8.5%.
Median Sold Price Compared To Nearby Cities
Kent | $599.9K | $644.6K | +7.4% |
Des Moines | $560.9K | $575K | +2.5% |
Covington | $650K | $645K | -0.8% |
Auburn | $593.6K | $587.4K | -1.0% |
SeaTac | $548K | $535K | -2.4% |
Housing Supply in Kent, WA
How many homes are available in Kent, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
342 | 394 | +15.2% |
Summary: The Kent real estate market had 394 homes for sale in May 2024, a 15.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 9 | -18.2% |
2 Bedrooms | 38 | 55 | +44.7% |
3 Bedrooms | 123 | 147 | +19.5% |
4 Bedrooms | 121 | 126 | +4.1% |
5+ Bedrooms | 49 | 57 | +16.3% |
Summary: The Kent housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 18.2%, 2 bedroom homes increased by 44.7%, 3 bedroom homes increased by 19.5%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 16.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
135 | 111 | -17.8% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
59 Homes Were Sold
Over Asking
Summary: A total of 111 homes were sold or pending in Kent in May 2024, down by 17.8% month-over-month. Of the 111 sold homes, 20% were sold under asking, 27% were sold at asking, and 53% were sold over asking.
Days on Market for Kent, WA
How long does it take to sell a home in Kent, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 14 Days | +18.8% |
Summary: Homes in Kent had an average of 14 days on market in May 2024, up by 18.8% compared to last year.
Breakdown of Home Sale Times
98 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 111 homes were sold in Kent; 88% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.