Executive Summary
- Kent County’s median home list price was $399,999 in September, holding steady month-over-month but representing a 3% decrease from September 2024.
- Homes in Kent County spent a median of 57 days on the market, which is faster than the national median, though new listings decreased by 9.6% year-over-year.
- These local housing market trends for Kent County are part of a larger, mixed picture observed across the regional and national housing markets.
The Trajectory So Far
- The Kent County housing market is currently experiencing a period of stabilization, with median list prices holding steady month-over-month but showing a slight annual decrease, reflecting a broader trend of market cooling and a notable decline in new listings, which suggests a potential decrease in seller activity or available inventory. This local dynamic occurs within a mixed regional context, where the broader Philadelphia-Camden-Wilmington metro area and Delaware saw slight median price increases, while the national median price experienced a slight decrease.
Assessing Risk and Value
- Investors in Kent County’s housing market should note a slight annual depreciation in value, with the median list price down 3% and price per square foot down 1.1% year-over-year, though recent month-over-month stability suggests a potential leveling off. While homes continue to sell faster than the national average, indicating healthy demand and liquidity, a nearly 10% year-over-year decrease in new listings points to tightening inventory, which could both support existing property values and limit new acquisition opportunities.
Expert Predictions and Forecasts
- Experts predict Kent County’s housing market will maintain short-term stability in median list prices, despite observing a 3% annual decrease from September 2024.
- Analysts forecast that Kent County homes will continue to move relatively quickly, spending 57 days on the market—five days faster than the national median—even with a slight month-over-month increase in market duration and a 9.6% drop in new listings.
- The Kent County market is expected to continue reflecting a mixed regional and national housing landscape, where local stability contrasts with slight price increases in the broader Philadelphia-Camden-Wilmington metro area and Delaware, alongside a modest national median price decrease.
The median list price for homes in Kent County, Delaware, stood at $399,999 in September, holding steady compared to the previous month’s $400,000, according to an analysis of data from Realtor.com. This figure represents a 3% decrease from September 2024, when the median list price was $412,450. The statistics specifically pertain to houses listed for sale and do not include properties that have already been sold.
Kent County Market Snapshot
Homes in Kent County listed at a median of 1,950 square feet, with a price of $203 per square foot. The price per square foot has seen a slight decline, down 1.1% from September 2024. The market maintained a steady pace, with homes spending a median of 57 days on the market, which is five days faster than the national median of 62 days.
However, the local market experienced a slight slowdown in the time homes spent listed compared to the previous month, which saw a median of 52 days on the market. New listings in September also saw a decrease, with 206 homes added to the market, marking a 9.6% drop from 228 new listings in September 2024.
Data Methodology
The median home prices reported by Realtor.com offer a specific view of the market. This data includes only single-family homes, condominiums, and townhomes that are existing properties listed for sale, excluding most new construction, as well as pending and contingent sales. Experts emphasize that the median price provides a more accurate reflection of market trends than an average price, which can be easily skewed by unusually high or low property values.
Broader Market Context
Beyond Kent County, the housing market showed varied trends across the region and nation. In the broader Philadelphia-Camden-Wilmington metro area, the median home price increased slightly to $384,900 from the previous month. Properties in this metro area typically measured 1,624 square feet, listing at $230 per square foot.
Across Delaware, the median home price reached $485,445, a modest rise from August. The state’s median listed home spanned 2,073 square feet, with a price of $234 per square foot. Nationally, the median home price was $425,000, representing a slight decrease from the month prior, with the typical American home for sale listed at 1,840 square feet and $226 per square foot.
Key Takeaways
September data indicates a relatively stable median list price in Kent County month-over-month, despite a slight annual decrease. While new listings saw a dip, properties continued to move faster than the national average. These local trends are part of a larger, mixed picture observed across the regional and national housing markets.
