Posts from August 10th, 2022
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10
Kent Village 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 a flight to Kent, swelling our schools, absorbing our housing inventory and pushing our values to levels not seen in a long time, if ever. The result is a market with only 7 homes available where normally 35-40 should be up for sale. And only 9 parcels of land offered. The flip side is the 20%-30% increase in values has sellers buoyant and buyers scrambling with Rents soaring as well.
All of this has some buyers and many more sellers on the sidelines waiting. Waiting for what is the question. The idea that the market will be flush with listings soon is not realistic. It is a seller's market, but sell only if you have a place to move to. We predict this new paradigm will be here for a number of years to come....