The number of Kent homes for sale in January dropped 16 percent compared to the same month in 2013.<\/p>\n<\/p>\n
Kent homeowners are driving prices up by holding onto their precious inventory, according to numbers compiled by Redfin, a Seattle-based real estate company.<\/p>\n<\/p>\n
Redfin agents report that many potential sellers are waiting to list because they can\u2019t find a suitable home to buy and they believe they\u2019ll get an even better price for their home if they wait a few months.<\/p>\n<\/p>\n
A snapshot of the Kent numbers in January compared to the same time last year:<\/p>\n<\/p>\n
\u2022 Home prices were up 4.6 percent. The median home price was $215,000.<\/p>\n<\/p>\n
\u2022 Sales were down 2.6 percent with 75 homes sold.<\/p>\n<\/p>\n
\u2022 Homes sold 3 percent faster, spending an average of 48 days on the market.<\/p>\n<\/p>\n
\u2022 Inventory was down 16.2 percent<\/p>\n<\/p>\n