Is Kent County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Kent County was a Seller's Market.
Key Takeaway
Kent County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Kent County, MD
How much do homes in Kent County, MD cost?
Median Sold Price
$319,990
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Kent County have sold for 2.1% less than they did a year ago.
Summary: The median home sold price in Kent County was $319,990 in May 2024, down 2.1% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65K | $80K | +23.1% |
| 2 Bedrooms | $227K | $244.5K | +7.7% |
| 3 Bedrooms | $309.9K | $310K | 0.0% |
| 4 Bedrooms | $395K | $362.4K | -8.2% |
| 5+ Bedrooms | $372.4K | $610K | +63.8% |
Summary: Kent County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.1%, 2 bedroom homes increased by 7.7%, 3 bedroom homes did not change, 4 bedroom homes decreased by 8.2%, and 5+ bedroom homes increased by 63.8%.
Median Sold Price Compared To Nearby Counties
| Queen Anne's County | $462.2K | $519K | +12.3% |
| Kent County | $315K | $334.9K | +6.3% |
| New Castle County | $329.8K | $349.9K | +6.1% |
| Cecil County | $325.4K | $340K | +4.5% |
| Kent County | $327K | $319.9K | -2.1% |
Housing Supply in Kent County, MD
How many homes are available in Kent County, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 146 | 164 | +12.3% |
Summary: The Kent County real estate market had 164 homes for sale in May 2024, a 12.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 30 | 32 | +6.7% |
| 3 Bedrooms | 67 | 78 | +16.4% |
| 4 Bedrooms | 29 | 34 | +17.2% |
| 5+ Bedrooms | 17 | 17 | 0.0% |
Summary: The Kent County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 24 | -20.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kent County, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Kent County in May 2024, down by 20.0% month-over-month. Of the 24 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Kent County, MD
How long does it take to sell a home in Kent County, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 53 Days | +66.5% |
Summary: Homes in Kent County had an average of 53 days on market in May 2024, up by 66.5% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kent County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 24 homes were sold in Kent County; 71% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
