Supply of homes for sale in Kent declines; prices go up

Published 3:02 pm Thursday, July 16, 2015

Kent saw a continued decline in the supply of homes for sale in June, according to the latest Redfin Housing Market Tracker out on Thursday.

The city had only 1.9 months of supply in June, down from 3.6 months the same time last year. A balanced market has a six month supply.

As a result, homes are selling two weeks faster than they were in June 2014. Kent homes spent a median of 11 days on the market last month. And home prices jumped 8.9 percent from last year to $305,000. A total of 189 homes sold in June.

The data is from June only and reflect an unvarnished, timely snapshot of the market.

Read the full report on the Redfin blog at redfin.com.