Is Kennett Square, PA 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, Kennett Square has remained a Seller's Market.
Key Takeaway
Kennett Square is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kennett Square, PA
How much do homes in Kennett Square, PA cost?
Median Sold Price
$600,000
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Kennett Square have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in Kennett Square was $600,000 in March 2024, up 14.4% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $310K | $355K | +14.5% |
| 3 Bedrooms | $454K | $500K | +10.1% |
| 4 Bedrooms | $650K | $705K | +8.5% |
| 5+ Bedrooms | $575K | $995K | +73.0% |
Summary: Kennett Square housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 73%.
Median Sold Price Compared To Nearby Cities
| Kennett Square | $524.2K | $600K | +14.4% |
| Kennett Township | $552.5K | $575K | +4.1% |
Housing Supply in Kennett Square, PA
How many homes are available in Kennett Square, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 79 | 75 | -5.1% |
Summary: The Kennett Square real estate market had 75 homes for sale in March 2024, a 5.1% 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 | 12 | 12 | 0.0% |
| 3 Bedrooms | 28 | 27 | -3.6% |
| 4 Bedrooms | 28 | 25 | -10.7% |
| 5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The Kennett Square 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 remained the same, 3 bedroom homes decreased by 3.6%, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 20 | +81.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kennett Square, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Kennett Square in March 2024, up by 81.8% month-over-month. Of the 20 sold homes, 15% were sold under asking, 25% were sold at asking, and 60% were sold over asking.
Days on Market for Kennett Square, PA
How long does it take to sell a home in Kennett Square, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 11 Days | 10 Days | -7.3% |
Summary: Homes in Kennett Square had an average of 10 days on market in Mar 2024, down by 7.3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kennett Square are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in Kennett Square; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
