Is Kent, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$640,000
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Kent have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Kent was $640,000 in April 2024, up 6.7% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $259.4K | -0.2% |
| 2 Bedrooms | $375K | $379K | +1.1% |
| 3 Bedrooms | $565K | $603K | +6.7% |
| 4 Bedrooms | $699.5K | $716.3K | +2.4% |
| 5+ Bedrooms | $799K | $817.4K | +2.3% |
Summary: Kent housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.2%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Cities
| Kent | $600K | $640K | +6.7% |
| Des Moines | $565.6K | $568.9K | +0.6% |
| SeaTac | $535K | $530K | -0.9% |
| Auburn | $590.2K | $585K | -0.9% |
| Covington | $665K | $645K | -3.0% |
Housing Supply in Kent, WA
How many homes are available in Kent, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 332 | 333 | 0.3% |
Summary: The Kent real estate market had 333 homes for sale in April 2024, a 0.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 10 | +25.0% |
| 2 Bedrooms | 42 | 40 | -4.8% |
| 3 Bedrooms | 125 | 109 | -12.8% |
| 4 Bedrooms | 114 | 123 | +7.9% |
| 5+ Bedrooms | 43 | 51 | +18.6% |
Summary: The Kent housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 18.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 104 | 131 | +26.0% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
43 Homes Were Sold
At Asking
68 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kent, you could pay more than the asking price. 51.9% of homes here sold above asking price last month.
Summary: A total of 131 homes were sold or pending in Kent in April 2024, up by 26.0% month-over-month. Of the 131 sold homes, 15% were sold under asking, 33% were sold at asking, and 52% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 16 Days | -49.8% |
Summary: Homes in Kent had an average of 16 days on market in Apr 2024, down by 49.8% compared to last year.
Breakdown of Home Sale Times
115 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kent are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 131 homes were sold in Kent; 88% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.