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 Dear Neighbor,

Summer is fading so it's our time to reflect on the real estate market over the previous 12 months and how it has fared nationally, regionally, town wide and even down to your neighborhood.

Nationally the main urban centers are doing quite well. They are the drivers of the economy and by extension real estate sales. In Connecticut we are seeing a stable market with sales reflecting national trends. Foreclosures are ebbing from the historical highs of only a few years ago. The local real estate market was strong in the first quarter of 2015 but quickly evaporated during the summer months. But the data shows that 2015 was considerably stronger than 2014 in Kent. In the last 12 months there have been 38 sales transactions in Kent nearly a 40% increase in transactions year over year.

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Here is what has happened in Kent by the month.

Confidence continues to be the main factor in the solidification of values. National

Economic trends are faring well despite worldwide market turmoil. Unemployment claims are fewer than the most recent years and consumer confidence is buoyed.

But there is still softness in our market. With increased optimism and more sales sellers who have been on the sidelines for the last 6 years are coming on the market for sale. Hence there are more listings on the market today (66) than last year at this time (56), a 15% increase. So, as the market becomes bloated with homes, the pressure on prices begins to increase. We are already seeing this manifest in our listing to closing ratios.

Date Sales Av. List Price Market Time Av. Sales Price

2013-14 23 $ 815,491 146 Days on $748,010

2014-15 38 $ 500,425 169 Days on $469,997

The Skiff Mountain neighborhood has seen five sales in the last 12 months which is four greater than the previous year. Here is what has transpired and some of our offerings.

75 Macedonia Road was the Pratt family Homestead from 1865 until 1935 and is now listed for sale for $470,000. The 3 story, 1776 sq. ft. home has been well cared for. It is uniquely arranged with a large first floor living room with a massive fireplace and kitchen. Upstairs, there is a cozy library with fireplace, master bedroom en-suite and 3-season screen porch overlooking gardens. The home is situated on over 11 protected acres with land on both sides of the road and has 4 bedrooms and 2.5 bathrooms. Listed with Toni Soule and Marilyn DeVos.

Toni Soule of our firm has sold this 1929 Cape style home at 119 Macedonia Road listed for $195,000 and closed for $183,000. With 2 bedrooms and 2 bathrooms on nearly an acre of land, it maintains a lovely country feeling with old floor boards, wood beamed ceilings and a large fireplace. Requiring some work, it is in that affordable range that suits the market place.

11 Preston Mtn. Rd is set between two cascading mountainside brooks. This Kent family compound offers two houses. The 3 bedroom main house features a custom kitchen with stainless steel appliances, soapstone counters, large living room with stone fireplace & French doors to the stone patio and screened porch, master bedroom with bath en suite, walk-in closet and balcony. The 1500 sq. ft. guesthouse is a 1900's chestnut cabin offering 2 bedrooms, 2 bathrooms, gourmet kitchen, lofted living room with a massive stone fireplace, all for $879,000. The owner and agent is Eve Sommerfield

16 Stony Brook Road is a private setting on 2.7 acres. The home features a cathedral ceiling in kitchen, hardwood floors and fireplace in living/dining area. First floor has a bedroom the second floor includes two additional bedrooms, walk in closets and full bath. Large level yard with stone walls and gardens bordering the Bog Hollow Brook. Listed for $342,000 and closed for $315,000 in 227 days.

257 Macedonia Road has the Bog Hollow Brook curving through the 1.49 acre property. This sweet country Cape has 1,350 sq. ft. of living space with 3 bedrooms and 2 baths. The open kitchen features a fireplace and a large deck off the dining area opens to meticulous grounds and gardens. Toni Soule has this listed for $245,000.

13 Kelley Drive is a one level home with all hardwood or tile floors throughout. There are 3 large bedrooms, two full updated baths, a fireplace, attached 2 car garage, full house generator with 1000 gal propane tank. Private, quite this 1,404 sq. ft. home is nestled on a 1.83 acres of level land. Originally listed at $355,000 the home closed within 142 days for $290,000 with David Almquist of our firm assisting the buyer.

22 Dolldorf Road closed last November for $520,000. This Adirondack-inspired country house has 3 bedrooms and has many modern features. Set on 3.5 wooded acres, this country house has an open living room and dining area plus new cook's kitchen. Redone baths w/radiant heat, main floor master suite, wide board wood floors are all nice touches. It was listed for 210 days before selling.

30 Dolldorf Road is an example of the real estate bubble. In 1994 this 3 bedroom ranch with 1852 sq. ft. on 2.14 acres sold for $144,000. 14 years later (2008) with nice improvements such as a barn, horse pastures, wood flooring and new kitchen and bathrooms the property sold for $450,000. In the course of 6 years the devastation of the Great Recession forced a foreclosure where the house became run down and shabby. It has recently sold for $183,500 in a hail of bids and is in the process of being rejuvenated!

Lastly, I have listed this handcrafted New England home on 8.5 acres surrounded by 3500 acres of state forest and land trust. The timber frame construction is of aged Douglas fir, hand cut on site and joined. The construction and the finishing details are works of art. The materials used were the best to be found: quarter-sawn white oak and 6" knot free southern yellow pine for the floors and knot free poplar and oak trim. This 2400 sq. ft. home has 3 bedrooms and 2.5 bathrooms and is listed for $795,000. You can watch the video on our website.

I hope you find this information useful and we wish you a wonderful autumn!

To provide you with more information these letters are archived on our website: www.bainrealestate.com. Look for "Neighborhood Sold Stats" on the home page. There you will find other Kent neighborhood letters. We have also added all the houses for sale in Kent and surrounding towns that are in the MLS system to our website! This means that you need only to go to our site to find any and all the properties in your neighborhood, Kent or the fourteen towns we serve. We have also added videos to our site to improve and sharpen the marketing of homes. Video is the medium our customers are used to so we are on the cutting edge and the only ones using them in the area. Please check them out! If you have any questions, give us a call and we'll let you know about properties in the neighborhood! And until then be well and enjoy the onset of autumn.

Respectfully,

David Bain

Chris Garrity

And the Kent office- Toni Soule, Marilyn DeVos, Scott Harvey, Dave Fairty, Debbie Bain & Eve Iselin

This graph shows the number of successful transactions

in our key towns of Cornwall, Kent and Sharon in 2014

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