Posts in category 'South Kent'

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...

Click Here to Read More...

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor:

The path back to a more balanced market is no longer just a light at the end of the tunnel.

It is here. There is a growing pool of buyers who are serious and will purchase, if the right house and value coincide. The number of offerings is being sold off at a considerable pace. In fact, we are seeing a tightening of inventory which helps solidify market values.

It is time again for our annual neighborhood real estate report detailing the real estate activity in the last 12 months in the South Kent neighborhood.

As noted above shrinking inventory is the big news as the year wraps up. There are only 44 house listings on the market in Kent presently. This is an inventory figure we have not seen for over 10 years. And...

Click Here to Read More...

PLEASE CLICK HERE TO SEE THE MAP.

 Dear Neighbor,

Here is the annual neighborhood real estate report detailing the real estate activity in the last 12 months in your area of Kent.

The 27 sales transactions in Kent in the last 12 months is slightly fewer than previous year's volume of 30. However we are seeing the path back to a more balanced market where there is a small pool of buyers and a limited amount of homes available for sale. Presently there is still more seller supply than buyer demand but that volume is slowly being chipped away.

Moreover, the national economy is systemically healthier providing a more confident buyer pool. We are seeing a very strong upper end of th...

Click Here to Read More...