Area: 98032 (Kent, WA) – December 2016 Market Update Report
This is your latest snapshot of the local Kent Real Estate Market as of 1.24.2017 for Single Family Homes:
These Stats Compare 12-2015 Thru 12-2016
New listings are UP 14.4% Pending Sales are UP 7.6%
Closed Sales are UP 1.1%
Median Sales Price is UP 21.3% (Currently $330,000)
Average Sales Price is UP 16.3% (Currently $323,565)
Days on Market Until Sale are DOWN From 30 to 25 Days
Inventory of Homes for Sale December 2015 to December 2016 is DOWN From 23 to 20 Days
Months Supply of Inventory is DOWN 1.6 to 1.3 Months (This is very low)
The summary is that home prices are up and inventory is down over the previous year. It is taking a shorter amount of time to obtain an offer for a seller. For a buyer, there is less supply or homes to choose from and a Seller has less competition from other sellers. It is still a Sellers Market.
Are you looking to sell your house in Kent? I’m happy to help you get top dollar for your property. Contact me today for an intro chat, and check out my current inventory in Kent to gauge how much you’re likely to get for your home.