Is Kennett Township, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kennett Township is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Kennett Township was a Neutral Market.

Key Takeaway

Kennett Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Kennett Township, PA

How much do homes in Kennett Township, PA cost?

Median Sold Price

$575,000

$216/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since May 2023.

Key Takeaway

The sold price of homes in Kennett Township has remained the same since last year.

Summary: The median home sold price in Kennett Township was $575,000 in May 2024, the same as last year, and the median price per square foot was $216.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $325K$330K
+1.5%
3 $406.5K$500K
+23.0%
4 $665K$715K
+7.5%
5+ $875K$1.1M
+34.3%

Summary: Kennett Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 23%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 34.3%.

Median Sold Price Compared To Nearby Cities

Piedmont
+8.3%
Kennett Square
+7.0%
New Garden Township
+6.6%
Hockessin
+0.7%
Kennett Township
0.0%

Housing Supply in Kennett Township, PA

How many homes are available in Kennett Township, PA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3136+16.1%

Summary: The Kennett Township real estate market had 36 homes for sale in May 2024, a 16.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 33
0.0%
3 810
+25.0%
4 1214
+16.7%
5+ 89
+12.5%

Summary: The Kennett Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
73-57.1%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kennett Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Kennett Township in May 2024, down by 57.1% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.

Days on Market for Kennett Township, PA

How long does it take to sell a home in Kennett Township, PA?

Average Sale Time

May 2023May 2024CHANGE
21 Days9 Days-57.7%

Summary: Homes in Kennett Township had an average of 9 days on market in May 2024, down by 57.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Kennett Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 3 homes were sold in Kennett Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Kennett Township, PA

Nearby Markets to Kennett Township, PA

What housing markets are near Kennett Township, PA?