kent SINGLE-FAMILY HOME - AUGUST 2 0 2 4
MONTHS OF INVENTORY 1.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 5% VS 2023
▲ 5% VS 2023
▲ 14% VS 2023
- VS 2023
There were 133 single-family home listings in Kent in August, 4% below July and 5% higher than August 2023. August single-family home sales increased by 5% month-over-month, to 83, and were 14% above August 2023. The months of inventory for single-family home in Kent, at 1.6, re&ected a sellers' market. The single-family home median price in August was $700,000, a 4% increase from July and no change to August 2023. The average sold price was $740,038, 8% above last month and up 5% to August 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$740,038 $700,000 1.6 83 133
$703,902 $700,000 1.7 73 127
5% 0% -8% 14% 5%
$685,694 $675,000 1.7 79 138
8% 4% -8% 5% -4%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
43
43
133
138
127
118
115
109
38
102
118
91
87
82
83
88
65
73
64
63 60
62
79
75
66
65
62
53
47
$758K
$730K
$722K
$712K
$700K
$700K
$707K
$700K
$690K
$675K
$664K
$670K
$660K
Aug-23
Jul-24
Aug-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
70
4.0
4.0
60
3.0
50
40
1.8
1.6
30
20
0.5
10
0
<$600K
$600K-799K
$800K-999K
$1.0M-1.24M
$1.25M-1.49M
$1.5M-1.99M
$2.0M-2.49M
$2.5M+
MOI INVENTORY SALES
22 11 0.5
38 68 1.8
18 29 1.6
2 8 4.0
2 8 4.0
0 5 n/a
1 3 3.0
0 1 n/a
Information and statistics derived from Northwest Multiple Listing Service. Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 9, 2024. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 28 ●
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