Curious as to what the Kent County real estate market looked like in February? The Lucas Howard Group has you covered!
February saw even more growth with an average home sales price of $327,830 (the average home sales price was $318,620 in January). Compared to February 2021, there was an 11.3% increase in average home sale price. That means the average homeowner saw an increase of $33,320 added to the value of their home. As we move out of the colder weather and towards the busy season, it would be beneficial to take advantage of the market sooner rather than later to avoid the commotion that often accompanies the summer months.
If you’re curious what your home may be worth in this market, you can use our FREE Home Valuation Tool to get an estimate of your home or learn more about the value of homes in your neighborhood!
Kent County saw 540 homes come onto the market in February 2022 which is 8.9% less compared to what we saw in February 2021 but 22.17% more compared to what we saw in January 2022. While the increase of new listings between January and February means we may see more inventory in the coming months, we are still very much in a seller’s market and inventory is still very low. Kent County only has .6 months of inventory meaning If no more homes were to hit the market, Kent County would be out of inventory in just over two weeks.
Buyers are still eager to find a home meaning many are willing to become more flexible when it comes to negotiations – giving sellers even more power to sell their home for the price they want. Many sellers are seeing their homes sell for well over asking price on top of waived inspections, waived appraisals, and/or getting paid in cash.
As it currently stands (as of March 11, 2022) there are 300 active listings in Kent County with 925 homes being sold YTD (Year to Date).Those homes were on the market for an average of 17 days.
Inventory is starting to rise but not enough to drastically change the market. NOW is still the time to sell if you’re looking to maximize the amount of money you get from your home, especially before those hecrtic summer months.
Not only can the Lucas Howard Group reduce the stress of selling your home, but we can help you get even more money in your pocket! The Lucas Howard Group nets our clients 2.8% more than the average agent so there’s no doubt you’ll get your home sold for the price you want!
For more information on how we can help you get your home sold, give us a call today!
616.893.6478