Is Kent County, DE a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kent County is a buyer's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Kent County was a Seller's Market.

Key Takeaway

Kent County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Kent County, DE

How much do homes in Kent County, DE cost?

Median Sold Price

$324,970

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$14,970(+4.8%)

Key Takeaway

Homes in Kent County have sold for 4.8% more than they did a year ago.

Summary: The median home sold price in Kent County was $324,970 in January 2024, up 4.8% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $150K$101K
-32.6%
2 $202K$215K
+6.4%
3 $285K$306.9K
+7.7%
4 $390K$406.1K
+4.1%
5+ $452.5K$469.4K
+3.7%

Summary: Kent County housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.6%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 3.7%.

Median Sold Price Compared To Nearby Counties

Sussex County
+7.4%
Kent County
+4.8%
New Castle County
+4.6%

Housing Supply in Kent County, DE

How many homes are available in Kent County, DE?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
856844-1.4%

Summary: The Kent County real estate market had 844 homes for sale in January 2024, a 1.4% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 23
+50.0%
2 7674
-2.6%
3 450434
-3.6%
4 269276
+2.6%
5+ 5957
-3.4%

Summary: The Kent County housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 2.6%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 3.4%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
129103-20.2%

Asking Price vs. Sold Price

32 Homes Were Sold
Under Asking

40 Homes Were Sold
At Asking

31 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kent County, expect to pay close to the asking price. 38.8% of homes here sold near the asking price last month.

Summary: A total of 103 homes were sold or pending in Kent County in January 2024, down by 20.2% month-over-month. Of the 103 sold homes, 31% were sold under asking, 39% were sold at asking, and 30% were sold over asking.

Days on Market for Kent County, DE

How long does it take to sell a home in Kent County, DE?

Average Sale Time

Jan 2023Jan 2024CHANGE
36 Days28 Days-21.1%

Summary: Homes in Kent County had an average of 28 days on market in Jan 2024, down by 21.1% compared to last year.

Breakdown of Home Sale Times

65 Homes Were Sold
Under 30 Days

34 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Kent County are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 103 homes were sold in Kent County; 63% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Kent County, DE

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What housing markets are near Kent County, DE?