Kent CT Real Estate Market Report, Homes Sold February 2012

Kent CT Real EstateAre homes selling in Kent, CT? The real estate market is admittedly slow in Kent, although not surprising in this current real estate market. It is a buyers market in Kent, with the current listings compared to the sales, it will take 21.5 months to sell the current homes that are for sale. This is called the market absorption rate. (A sellers market is anything under 6 months, 6 months is a balanced market, and over 6 months is a buyers market.)

Currently in Kent, CT there are 43 active single family homes for sale. One of these homes is “under deposit”, not yet under contract. Typically this period of time can take from 2-4 weeks before it moves from under deposit to pending sale. The buyer is doing inspections and the sellers attorney is drawing up the contract, or checking over the contract of sale if the offer was written on a contract form. Anything can happen in this time period. If issues arise at the inspection that the buyer and seller cannot agree on, if the buyer suddenly develops a case of buyers remorse, there are many reasons why the deal can head south during this period of time.

Kent Connecticut Real Estate Statistics

  • Active Listings: 43
  • Average list price: $804,509
  • Median list price: $479,500
  • Average days on market: 215

 

  • February 2012 single family homes sold: 2
  • Average list price: $629,000
  • Average sale price: $550,000
  • Average days on market: 475
  • Median sales price: $464,000

South Kent SchoolWhat can you buy for the average list price in Kent, CT right now? A home in the Spectacle Ridge community of Spectacle Lake. A barn style home, 2,000 square feet, built in 2003 with 3 bedrooms, 2 baths on 8.33 acres. This home is listed for $780,000.

What can you buy for the average sale price in Kent, CT right now? A mid-century modern home, 2,000 square feet, 3 bedrooms, 2 baths on 1.7 acres very near Macedonia State Park. (This home is currently marked as “under deposit, continue to show”.)

Currently the highest priced home in Kent, CT is $4,000,000. This home was built as a hunting lodge in the 1930’s, was renovated for a single family residence. It sits on 105 acres, and the house itself is over 5,000 square feet.

Currently the lowest priced home in Kent, CT is $100,000, a short sale. This is a very modest home along the Housatonic River, set on 4.38 acres. The house is very small at 609 square feet, was built in 1900, and will need work.

Looking back over 2011 for home sales in Kent, CT.

  • 2011 single family home sales: 27
  • Average sale price: $506,411
  • Median sale price: $325,000
  • Highest sale price: $2,950,000
  • Lowest sale price: $86,000

Need to sell your home in Kent, CT? The statistics tell you it will take time. And if you truly want to sell your home you need to price it WELL AHEAD of the others. Then market the heck out of the home. Before you decide to sell your home in Kent, CT I would suggest you read “The Great Real Estate Divide”.

Thinking of buying a home in Kent, CT? Kent is a beautiful town in the Litchfield Hills. Kent is a 90 minute trip to New York City so it has long been a favorite spot for those looking for a second “country” home in Litchfield County. When I think of Kent, I think of art festivals, the vibrant downtown area of Kent and some of the most amazing country roads you can imagine. In the fall Kent is just spectacular, and not to bad in the three other seasons too! You can see Kent, CT through my eyes here. 

Originally posted at Kent CT Real Estate Market Report, What’s Selling in Kent?

Information deemed reliable, not necessarily accurate.

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