Is Kent Island, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Kent Island has remained a Buyer's Market.
Key Takeaway
Kent Island is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Kent Island, MD
How much do homes in Kent Island, MD cost?
Median Sold Price
$520,700
$263/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Kent Island have sold for 18.5% more than they did a year ago.
Summary: The median home sold price in Kent Island was $520,700 in March 2024, up 18.5% from last year, and the median price per square foot was $263.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | $310K | +26.5% |
| 2 Bedrooms | $345K | $397.5K | +15.2% |
| 3 Bedrooms | $420K | $479.9K | +14.3% |
| 4 Bedrooms | $539.1K | $589.2K | +9.3% |
| 5+ Bedrooms | $633.3K | $730K | +15.3% |
Summary: Kent Island housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.5%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 15.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Stevensville | $425K | $535K | +25.9% |
| Kent Island | $439.5K | $520.7K | +18.5% |
| Chester | $430K | $480K | +11.6% |
Housing Supply in Kent Island, MD
How many homes are available in Kent Island, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 216 | 215 | -0.5% |
Summary: The Kent Island real estate market had 215 homes for sale in March 2024, a 0.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 27 | 30 | +11.1% |
| 3 Bedrooms | 85 | 79 | -7.1% |
| 4 Bedrooms | 86 | 85 | -1.2% |
| 5+ Bedrooms | 18 | 21 | +16.7% |
Summary: The Kent Island housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 22 | +15.8% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kent Island, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Kent Island in March 2024, up by 15.8% month-over-month. Of the 22 sold homes, 55% were sold under asking, 32% were sold at asking, and 14% were sold over asking.
Days on Market for Kent Island, MD
How long does it take to sell a home in Kent Island, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 58 Days | +114.5% |
Summary: Homes in Kent Island had an average of 58 days on market in Mar 2024, up by 114.5% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kent Island are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in Kent Island; 50% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
