Posts from January 11th, 2022
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11
North Kent/ Brookwoods Market Report 2022
Dear Neighbor,
We, like all of you, are attempting to get back to "normal". In that spirit, we have resumed our neighborhood letters with hopes of keeping you informed on local sales, offerings and trends.
Like elsewhere, the pandemic unleashed the flight to Kent, swelling our schools, dwindling our housing inventory and pushing our values. The result is a market with only 12 homes available where normally 35-40 should be for sale. And only 11 parcels of land offered. The flip side is the 20%-30% increase in values has seller's buoyant and buyers scrambling. Rents have soared as well.
All of this has some buyers and sellers on the sidelines waiting. Waiting for what is the question? The idea that the market will be flush with listing soon is not realistic. It is a seller's market. And we predict this new paradigm will be here for a number of years.
There have been 11 sales in your neighborhood in the last year-8 in Brookwoods. Kent's...