Is Kent, WA 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 has remained a Seller's Market.
Housing Prices in Kent, WA
How much do homes in Kent, WA cost?
Median Sold Price
$630,000
$334/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Kent was $630,000 in March 2024, up 4.2% from last year, and the median price per square foot was $334.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $262.5K | $259.4K | -1.2% |
2 Bedrooms | $380K | $375K | -1.3% |
3 Bedrooms | $565K | $600K | +6.2% |
4 Bedrooms | $711.3K | $710K | -0.2% |
5+ Bedrooms | $800K | $812.5K | +1.6% |
Summary: Kent housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.2%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 6.2%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
Kent | $604.6K | $630K | +4.2% |
Des Moines | $565K | $568.9K | +0.7% |
Auburn | $590.1K | $591.6K | 0.3% |
Covington | $667.7K | $645K | -3.4% |
SeaTac | $550K | $530K | -3.6% |
Housing Supply in Kent, WA
How many homes are available in Kent, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
286 | 327 | +14.3% |
Summary: The Kent real estate market had 327 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 7 | -12.5% |
2 Bedrooms | 50 | 44 | -12.0% |
3 Bedrooms | 113 | 125 | +10.6% |
4 Bedrooms | 78 | 110 | +41.0% |
5+ Bedrooms | 37 | 41 | +10.8% |
Summary: The Kent housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 12%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 41%, and 5+ bedroom homes increased by 10.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
96 | 102 | +6.3% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
34 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Summary: A total of 102 homes were sold or pending in Kent in March 2024, up by 6.3% month-over-month. Of the 102 sold homes, 23% were sold under asking, 33% were sold at asking, and 44% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
40 Days | 24 Days | -39.3% |
Summary: Homes in Kent had an average of 24 days on market in Mar 2024, down by 39.3% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 102 homes were sold in Kent; 77% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.