Is Kent, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kent is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Kent has remained a Seller's Market.

Key Takeaway

Kent is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Kent, WA

How much do homes in Kent, WA cost?

Median Sold Price

$625,655

$330/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$12,384(+2.0%)

Key Takeaway

Homes in Kent have sold for 2% more than they did a year ago.

Summary: The median home sold price in Kent was $625,655 in February 2024, up 2% from last year, and the median price per square foot was $330.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $260K$259K
-0.4%
2 $380K$379.5K
-0.1%
3 $570K$599.9K
+5.3%
4 $715.3K$705K
-1.4%
5+ $801K$810K
+1.1%

Summary: Kent housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes increased by 5.3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 1.1%.

Median Sold Price Compared To Nearby Cities

Kent
+2.0%
Auburn
-0.6%
Des Moines
-0.7%
SeaTac
-3.5%
Covington
-5.9%

Housing Supply in Kent, WA

How many homes are available in Kent, WA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
241271+12.4%

Summary: The Kent real estate market had 271 homes for sale in February 2024, a 12.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 57
+40.0%
2 4351
+18.6%
3 93105
+12.9%
4 6675
+13.6%
5+ 3433
-2.9%

Summary: The Kent housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 18.6%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes decreased by 2.9%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
6389+41.3%

Asking Price vs. Sold Price

33 Homes Were Sold
Under Asking

29 Homes Were Sold
At Asking

27 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kent, you may be able to get a good deal. 37.1% of homes here sold below asking price last month.

Summary: A total of 89 homes were sold or pending in Kent in February 2024, up by 41.3% month-over-month. Of the 89 sold homes, 37% were sold under asking, 33% were sold at asking, and 30% 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

Feb 2023Feb 2024CHANGE
57 Days41 Days-26.9%

Summary: Homes in Kent had an average of 41 days on market in Feb 2024, down by 26.9% compared to last year.

Breakdown of Home Sale Times

48 Homes Were Sold
Under 30 Days

27 Homes Were Sold
In 30 - 90 Days

14 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 89 homes were sold in Kent; 54% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 16% 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 27 Days Ago

Newest Listings in Kent, WA

Nearby Markets to Kent, WA

What housing markets are near Kent, WA?