Posts from November 1st, 2014

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 Dear Neighbor,

Here is the annual neighborhood real estate report detailing the real estate activity in the last 12 months in your area of Kent.

The 27 sales transactions in Kent in the last 12 months is slightly fewer than previous year's volume of 30. However we are seeing the path back to a more balanced market where there is a small pool of buyers and a limited amount of homes available for sale. Presently there is still more seller supply than buyer demand but that volume is slowly being chipped away.

Moreover, the national economy is systemically healthier providing a more confident buyer pool. We are seeing a very strong upper end of th...

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Dear Neighbor,

Here is the annual real estate report detailing the real estate activity in the last 12 months in the Sharon/West Cornwall neighborhood.

Sharon home sales were slightly ahead of last year's pace with 43 homes sales in the last 12 months against 41 the previous period. The local real estate market is getting healthier incrementally.

Yet there are 92 homes on the market in Sharon (with 7 homes in contract to sell) which is a historically large supply. Salisbury by comparison has 98 listings (9 in contract) and Kent maintains 63 offerings (6 are in contract) each town has approximately 10 more homes on the market than last years' offerings.

Earlier in the year the market was vibrant with a number of homes selling. Spring through mid summertime was also quite strong. The market is traditionally slow as summer ebbs, but the 4^th quarter is shaping up nicely as the buyers are more plentiful and a bit more eager to buy. Additionally, the last 12 months has seen 8 land sales according to the CTMLS and the town records. It is especially nice to see the uptick in interest in land.

To put this year in perspective please see the charts below. The first set of statistics show the last twelve months of activity while the second Market Analysis Report is from 10 years ago (prior to the bubble bursting). Ten years ago the houses sold quicker and closed for closer to asking price. But the sq. ft. cost is roughly the same and the number of sales was dramatically lower ten years ago. The average sales price is considerably higher too.

So it appears the current trends are positive!

There was only one property in the neighborhood that sold in the last twelve months. It was a one acre parcel of land abutting the Housatonic River on Old Route 7. It was listed at $75,000 and closed this October for $68,000.

Here are a few things we currently have listed in the neighborhood (to see everything available in Sharon go to out web site www.bainrealestate.com ):

There are 30 acres of natural beauty surrounded by state forest land that is included with the house at 184 West Cornwall Road . It's made up of 3 surveyed parcels: The 1384 sq. ft. house comes with 2.13 acres and has 3 bedrooms and 2 bathrooms. It requires some renovation and upgrading. The balance of land is a separate parcel that has considerable elevation (over 1100 feet) offering views to the south and east. The whole package is listed by Rick Meehan of the Cornwall office for $365,000.

A 1920's gambrel roofed shingle home sits high on the hill looking out over the Housatonic River and the West Cornwall Covered Bridge at 319 Route 7. Dramatic views from both porches. Main level porch is enclosed and heated. Lower level porch is part of a separate in-law or rental apartment. With over 3280 square feet the house has great space with 6 bedrooms and 4 bathrooms on 2.2 acres. Priscilla Pavel of my Cornwall office has this listed for $375,000.

Rick has also listed 296 West Cornwall Road a small ranch that looks out upon the covered bridge. The 2 bedroom, 1 bathroom house deserves some loving and skilled attention to become a great investment or as a pleasant place to live. It's a great starter house or retirement home with 1094 sq. ft., wood floors and a full basement. With just under an acre, the grounds are easy to maintain. It is listed for $154,400.

Up off Swaller Hill Road we have a 21.14 acre parcel of land with views to the southeast and solar centric listed for sale. Primarily wooded this parcel is slightly sloped to the east. It is listed for $299,000.

Further up Swaller Hill off a quiet graveled road is where we have listed a solar A frame home at 9 Birch Lane. The 2000 sq. ft. home is very privately sited on the 4 acre level lot and offers 3 bedrooms, 2 baths and a lower level ready to be finished. There is a large deck and oversized windows to promote the ease of both inside and outside living. It is listed for $355,000.

Across the street we have a level and wooded 4 acre parcel on Birch Lane ready for development. The lot is listed for $140,000.

396 Route 7 is a genuine country cabin perched dramatically above the Housatonic River with views over the water and the valley below. Sited on 10 acres of woods and level land this is a 1950's log cabin and a perfect place to enjoy the country. Woods, river and serenity are found here along with a pool and four electrically lit pool cabanas. The house has 5 bedrooms and two bathrooms and a period native stone fireplace. It is listed for $345,000.

Respectfully,

Chris Garrity

David Bain

& the Sharon office- Jennifer Lunning, Michele Pastre, Sam FitzGerald, Drew Holland and David Almquist

Please note that not all listings and sales transactions are through David Bain Real Estate.