Is Kent, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Kent has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $260K | $259K | -0.4% |
2 Bedrooms | $380K | $379.5K | -0.1% |
3 Bedrooms | $570K | $599.9K | +5.3% |
4 Bedrooms | $715.3K | $705K | -1.4% |
5+ Bedrooms | $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 | $613.2K | $625.6K | +2.0% |
Auburn | $598.7K | $595K | -0.6% |
Des Moines | $569K | $565K | -0.7% |
SeaTac | $550K | $531K | -3.5% |
Covington | $674.8K | $635K | -5.9% |
Housing Supply in Kent, WA
How many homes are available in Kent, WA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
241 | 271 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 7 | +40.0% |
2 Bedrooms | 43 | 51 | +18.6% |
3 Bedrooms | 93 | 105 | +12.9% |
4 Bedrooms | 66 | 75 | +13.6% |
5+ Bedrooms | 34 | 33 | -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 2024 | Feb 2024 | CHANGE |
---|---|---|
63 | 89 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
57 Days | 41 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
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.