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.
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