Posts from February 1st, 2022
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South Kent Market Report 2021-2022
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 9 homes and 9 land parcels available where normally 45-50 should be for sale. 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 4 sales in your neighborhood. Kent's 53 annual sales are 30 less than last year. Inventory deplet...