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| FEBRUARY 2025 | |||
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| Units Sold 14 |
Active Inventory 68 |
Median Sale Price $322,500 |
Days On Market 83 |
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| Down Vs. Year Ago |
Up 17% Vs. Year Ago |
Up 19% Vs. Year Ago |
Up Vs. Year Ago |
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Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 14 sold this month in Kent County Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 10 units or 17%. The total number of active inventory this February was 68 compared to 58 in February 2024. This month's total of 68 is higher than the previous month's total supply of available inventory of 66, an increase of 3%. |
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Median Sale Price
Last February, the median sale price for Kent County Homes was $269,990. This February, the median sale price was $322,500, an increase of 19% or $52,510 compared to last year. The current median sold price is 4% lower than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 24 |
Current Contracts 19 |
Sold Vs. List Price 96.0% |
Months of Supply 4.9 |
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| Up 4% Vs. Year Ago |
No Change Vs. Year Ago |
Down -1.7% Vs. Year Ago |
Up 93% Vs. Year Ago |
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Months of Supply
In February, there was 4.9 months of supply available in Kent County, compared to 2.5 in February 2024. That is an increase of 93% 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. |
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New Listings & Current Contracts
This month there were 24 homes newly listed for sale in Kent County compared to 23 in February 2024, an increase of 4%. There were 19 current contracts pending sale this February, consistent with the volume a year ago. The number of current contracts is 27% higher than last month. |
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Sale Price to List Price Ratio
In February, the average sale price in Kent County was 96.0% of the average list price, which is 1.7% lower than at this time last year. Days on Market
This month, the average number of days on market was 83, higher than the average last year, which was 36. This increase was impacted by the limited number of sales. | |||
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| *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. |
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