kent SINGLE-FAMILY HOME - MAY 2 0 2 4
▶ MARKET SUMMARY
MONTHS OF INVENTORY 1.0
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 14%
▲ 13%
▼ 13%
▲ 29%
There were 91 single-family home listings in Kent in May, 40% above April and 13% lower than May 2023.
SELLERS' MARKET
VS 2023
VS 2023
VS 2023
VS 2023
May single-family home sales decreased by 19% month-over-month, to 89, and were 29% above May 2023. The months of inventory for single-family home in Kent, at 1.0, reflected a sellers' market. The single-family home median price in May was $760,000, a 5% increase from April and 13% above May 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
89 91
$695,843 $670,000 1.5 69 105
14% 13% -33% 29% -13%
$750,032 $726,500 0.6 110 65
5% 5% 73% -19% 40%
TOTAL INVENTORY
TOTAL SALES
$790,415 $760,000 1.0
MONTHS OF INVENTORY
The average sold price was $790,415, 5% above last month and up 14% to May 2023.
MEDIAN SOLD PRICE
AVERAGE SOLD PRICE
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
36
119
110
109
35
34
105
98
98
91
82
96
95
75
89
73
65
63
62
76
75
69
66
51
65
57
54
53
47
$760K
$727K
$712K
$707K
$700K
$700K
$690K
$670K
$673K
$668K
$664K
$670K
$660K
May-23
Apr-24
May-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
2.5
50
1.8
40
1.5
1.4
30
1.0
0.5
20
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+
8 14 1.8
54 29 0.5
19 29 1.5
5 7 1.4
2 5 2.5
0 3 n/a
0 3 n/a
1 1 1.0
MOI INVENTORY SALES
Information and statistics derived from Northwest Multiple Listing Service. Copyright © June 10, 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 June 10, 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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