Is Kent County, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Kent County was a Seller's Market.
Key Takeaway
Kent County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Kent County, DE
How much do homes in Kent County, DE cost?
Median Sold Price
$334,990
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Kent County have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Kent County was $334,990 in May 2024, up 6.3% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $154.8K | $100K | -35.4% |
| 2 Bedrooms | $213.7K | $220K | +2.9% |
| 3 Bedrooms | $289.9K | $315.1K | +8.7% |
| 4 Bedrooms | $395K | $420K | +6.3% |
| 5+ Bedrooms | $450K | $489K | +8.7% |
Summary: Kent County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.4%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Counties
| Kent County | $315K | $334.9K | +6.3% |
| Sussex County | $451.6K | $479.9K | +6.3% |
| New Castle County | $329.8K | $349.9K | +6.1% |
Housing Supply in Kent County, DE
How many homes are available in Kent County, DE?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 669 | 723 | +8.1% |
Summary: The Kent County real estate market had 723 homes for sale in May 2024, a 8.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 63 | 61 | -3.2% |
| 3 Bedrooms | 325 | 351 | +8.0% |
| 4 Bedrooms | 250 | 264 | +5.6% |
| 5+ Bedrooms | 29 | 44 | +51.7% |
Summary: The Kent County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 51.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 129 | 108 | -16.3% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
35 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kent County, you may be able to get a good deal. 37% of homes here sold below asking price last month.
Summary: A total of 108 homes were sold or pending in Kent County in May 2024, down by 16.3% month-over-month. Of the 108 sold homes, 37% were sold under asking, 32% were sold at asking, and 31% were sold over asking.
Days on Market for Kent County, DE
How long does it take to sell a home in Kent County, DE?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 41 Days | +24.9% |
Summary: Homes in Kent County had an average of 41 days on market in May 2024, up by 24.9% compared to last year.
Breakdown of Home Sale Times
61 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kent County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 108 homes were sold in Kent County; 56% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
