Kent County currently leans toward sellers, with the market gauge at 37 and inventory at 2.9 months of supply. With 891 active listings and 221 homes sold in June, supply is relatively tight but not extreme, keeping conditions tilted toward sellers without being overheated.
Prices are fairly steady, as the typical home value sits around $355,000 and is essentially flat compared with last year. List prices, however, are up nearly 5% year over year, while the average sale-to-list ratio is just under 100%, showing that buyers and sellers are meeting close to asking prices.
Activity indicators paint a picture of a market that is active but a bit cooler than last year. New listings are down almost 14% annually while pending sales are up over 4%, and homes are taking longer to sell than a year ago with a median 37 days on market, even as more than a quarter of properties still sell above list price. Compared with Delaware as a whole, Kent County has lower prices and slightly tighter inventory, since the state sits at 3.8 months of supply. In this kind of mixed environment, both buyers and sellers can benefit from an Agent Pronto–recommended agent who understands current conditions and can help them navigate the process.
