Kent CT real estate in Litchfield County, what's selling, what's for sale and what does it all mean?
As a buyer looking to purchase property in Kent, CT it could be a great deal for you. A few factors come into play. First and foremost, it is a buyers market. Currently there are 52 active listings. It will take 13 months to sell that inventory, which is called the absorption rate. Anything over 6 months indicates a buyers market, 6 months is considered to be a balanced market, and below that is a sellers market. As long as the seller understands this, you should be able to negotiate a good deal for yourself.
List to sale ratio. 4 homes sold in August of 2011 in Kent, CT with an average list to sale price of 81.69%. For a buyer, that is good news, I would be keeping that in the back of my mind and asking my agent to look carefully at any home I was interested in purchasing.
As a seller, the list to sale ratio is not good. It means that overpricing your home doesn't work. Buyers are savvy, they know what has sold, what isn't selling, what they are willing to pay. And with 52 active listings competing for a sale in Kent, CT, and a 13 month absorption rate, you need to price your house very aggressively if you want or need to sell.
As of today, for 2011, 17 homes have sold in Kent, CT. The average sale price started out in January at $428,259, yet is sliding downward and is now at $254,000. This means that although there are some wonderful estate homes for sale in Kent, they are just not selling as they once were.
Kent, Connecticut is a fantastic town along the New York border in Litchfield County. A vibrant community, the downtown area is alive with small boutique type stores, restaurants, so many things to do and see. Last year Kent, CT was voted by Yankee Magazine "best place for leaf peeping" in New England. And we Yankees know leaf peeping! Read about the award and more about Kent here.
Andrea Swiedler, Realtor® & Liddy Adams, GRI, Broker Associate
Cell: 203.460.1775 Email: andrea@andreaswiedler.com
Swiedler & Adams, we know real estate!
Prudential Connecticut Realty, New Milford & Litchfield, CT
Swiedler & Adams
Call us at 203.460.1775
© Andrea Swiedler, 2009 - 2012
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Very folksy Market Report for Kent CT, a quiet yet social part of Litchfield County. Well done Andrea
Great market report for your area in CT. I bet you are getting ready for some fall colors pretty soon.
Hello Andrea, I have never been to your neck of the woods. I really liked the way you put your market report together :)
Hi Andrea, very nice market report and easily understood yet great emphasis on pricing it right. Have a great eve!
Andrea, Kent is one of my favorite little towns. Even though I only get up there once a year I always look forward to it.
Thank you all! Kent is wonderful, I love going there. And unlike George who gets there once a year, I am lucky enough to go there all the time! The market is tough in Kent if you are selling, but for buyers in all price ranges there are some great deals to be had!
With leaf peeping season just about here, Kent will be a hopping place for sure!
Our estate homes market here is the one that still seems to be having problems, but it also lags the general market by up to two years. If the rich aren't making money they can't spend it on estate homes!
Good information for both buyers and sellers to be aware of in Kent, Ct. I love the photo at the bottom of your post, Andrea! Fall starts officially on Friday. Here come the leaf peepers!
Andrea,
Nice report! A good deal is what every buyer and seller need!
Ann Hayden in Wildwood, MO
Andrea nice work keeping folks posted on the Kent Real Estate market! Also thanks for the Stumble:)
Andrea - That's valuable and well presented information about the real estate market in your area! There are so many wonderful opportunities for buyers with more affordable prices, and record smashing low interest rates.