 |
|||
 |
|||
| | |||
| JULY 2024 | |||
| | |||
| Units Sold 23 |
Active Inventory 76 |
Median Sale Price $365,000 |
Days On Market 49 |
|
|
|
|
|
| Down -18% Vs. Year Ago |
Up 6% Vs. Year Ago |
Up Vs. Year Ago |
Up Vs. Year Ago |
| | |||
Units Sold
There was a decrease in total units sold in July, with 23 sold this month in Kent County Real Estate versus 27 last month, a decrease of 15%. This month's total units sold was lower than at this time last year, a decrease of 18% versus July 2023. |
|||
Active Inventory
Versus last year, the total number of homes available this month is higher by 4 units or 6%. The total number of active inventory this July was 76 compared to 72 in July 2023. This month's total of 76 is lower than the previous month's total supply of available inventory of 79, a decrease of 4%. |
|||
Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last July, the median sale price for Kent County Homes was $289,950. This July, the median sale price was $365,000, an increase of $75,050 compared to last year. The current median sold price is lower than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
|||
| | |||
| New Listings 33 |
Current Contracts 28 |
Sold Vs. List Price 97.3% |
Months of Supply 3.3 |
|
|
|
|
|
| Down -3% Vs. Year Ago |
Down -18% Vs. Year Ago |
No Change Vs. Year Ago |
Up 28% Vs. Year Ago |
| | |||
Months of Supply
In July, there was 3.3 months of supply available in Kent County, compared to 2.6 in July 2023. That is an increase of 29% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. |
|||
New Listings & Current Contracts
This month there were 33 homes newly listed for sale in Kent County compared to 34 in July 2023, a decrease of 3%. There were 28 current contracts pending sale this July compared to 34 a year ago. The number of current contracts is 18% lower than last July. |
|||
Sale Price to List Price Ratio
In July, the average sale price in Kent County was 97.3% of the average list price, which is similar compared to a year ago. Days on Market
This month, the average number of days on market was 49, higher than the average last year, which was 25. This increase was impacted by the limited number of sales. | |||
 |
|||
| *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates. | |||
 Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc. |
|||