How is Kent County’s actual property market? Residence costs rose over yr

The median gross sales value for a single-family dwelling in Kent County throughout July was $285,000. That is a rise of 11.8% in contrast with July 2020, in line with knowledge from Realtor.com.

The variety of homes bought rose by 1.2% from a yr earlier. A complete of 249 homes have been bought countywide throughout the month of July. Throughout the identical interval a yr earlier, 246 single-family houses have been bought.

Actual property gross sales can take weeks or months to be recorded and picked up. That is the newest knowledge made out there by means of the Nationwide Affiliation of Realtors to the USA TODAY Community.

Condominiums and city houses bought in July had a median gross sales value of $222,000. That determine represents a 6.2% enhance year-over-year. In Kent County, 19 have been bought, up 35.7% from a yr earlier.

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Data in your native housing markets is accessible by means of the USA TODAY Community, with extra knowledge from the Nationwide Affiliation of Realtors.

The highest 10% of the properties bought had costs of at the very least $425,000, up 18.1% from a yr earlier than.

In July, one property bought for $1 million or extra: one single-family dwelling.

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The median dwelling sale value — the halfway level of all the homes or models bought over a time period — is used on this report as a substitute of the typical dwelling sale value as a result of specialists say the median presents a extra correct view of what is taking place in a market. To find the typical value, all costs of houses bought are added after which divided by the variety of houses bought. This measure will be skewed by one low or excessive value.

The USA TODAY Community is publishing localized variations of this story on its information websites throughout the nation, generated with knowledge from the Nationwide Affiliation of Realtors at Realtor.com. The story was written by Sean Lahman.

This text initially appeared on Delaware Information Journal: Kent County’s common dwelling bought for a better value than final yr

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