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Dear Neighbor,

The path back to a more balanced market is no longer just a light at the end of the tunnel. There is a small pool of buyers who are serious and will purchase, if the right house and value coincide. There is still more property supply than buyer demand, but the number of offerings is being sold off at a better pace than sluggish. In fact we are seeing a tightening of inventory which helps solidify market values.

Here's our annual neighborhood real estate report detailing the real estate activity in the last 12 months in the Route 7 south neighborhood of Kent. In the last 12 months there have been 40 residential sales in Kent compared to 43 the previous 12 months showing a consistent selling volume and an increase of nearly 10 more sales per year over a three year period.

A common benchmark of the market's health is the number of available listings. There are fewer number of properties on the market today (41) than a year ago (51). We have been trending on a decreasing plane as newer home offerings are not coming to the market with the regularity they had in the last 10 years, and, put simply, a balanced supply and demand create a more normalized market. Also telling is the fact that there are 11 homes in contract presently. Here is what has happened in town.

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

2013-14 24 $661,033 139 Days on $602,718

2014-15 43 $530,085 192 Days on $486,113

2015-16 41 $494,285 165 Days on $461,861

So here is what has transpired in your neighborhood:

We start in the southern part of the neighborhood where my partner, Chris Garrity, has 171 Bulls Bridge Road listed for sale. Long vistas to the southwest over fields and hills into New York State offer a great home sited on 5 open acres. Great privacy as abutting neighbors are Bulls Bridge Golf Course and a large farm. There are four generous bedrooms on the second floor and considerably spacious common rooms on the main level and two bathrooms. The country kitchen opens to a large covered porch which is perfect for evening meals or morning coffee. There is a formal dining room and an open family room with a bank of windows and wood beams. The living room features a stone fireplace, wood flooring and 9

foot ceilings. There is a pool, three car garage with ample storage and a second floor that can be converted as well as a voluminous basement plumbed and ready for conversion. It is listed for $1,399,000.

Just down the road 184 Bulls Bridge Road is an 1800's Farmhouse that has been nicely updated. Generously sized eat-in kitchen with granite counter tops and exposed wood beams plus a large family room with period details. There is a nice master bedroom with ample closet space. A quaint second bedroom, plus an additional attached office space could easily be converted into a desirable walk-in closet. Hardwood floors throughout and plenty of storage is available. There are 1242 sq. ft. of living space and the lot is slightly less than a half acre but is level and well planted. It sold for $211,500.

Toni Soule of my firm listed this wonderful1859 hand-hewed hay barn, which is now an impressive 3 bedroom 3.5 bathroom country home at 255 Kent Road. Exposed beams and beautiful hardwood floors blend nicely with modern amenities and creature comforts. There are large windows help make the floorboard's patina glow with sunshine. The stainless steel appliances and antique styled cabinetry create an updated effect. There is wood stove that heats the open barn space quite well. Two en suite bedrooms, balcony, workshop and additional bedroom provide ample space. It closed for $305,000.

Toni also has another renovated barn with loads of charm and sophistication at 40 Valley View listed for sale. With an easy open floor plan the house is great for entertaining and family get together. Three bedrooms, two full bath, kitchen with tile floors and stainless steel appliances all in 2488 sq. ft. The exposed antique beams and wide board floors are highlighted by soaring ceilings and skylights which give the old barn a new and dramatic feel. Game room with loads of light leads outside to the barbecue area. 3 season porch and oversized deck for those cool summer nights. The private 2.92 acre parcel is level and detailed in stone walls. It is listed for $399,000.

A super cute cottage on a level parcel of woods with view potential is available at 231A Kent Road. This 609 sq. ft. bungalow is simple to operate and easy to maintain. The main room has a native stone fireplace and wood floors. There are new windows and an updated kitchen. Additionally there is a dining room, screened porch and full bathroom. Set on 4.38 acres, this perfect spot for one person or a couple seeking a getaway was listed with Chris Garrity for $120,000 and sold for $90,000.

201 Kent Road is an 1800's antique eyebrow colonial home that was moved well back from the road and renovated in the 1940's. From its gracious perch on over 4 acres the house has sweeping views across the tree dotted lawn to the peaceful Housatonic River and the hillside beyond. This well appointed 1662 sq. ft. home features a paneled living room with fireplace, detailed moldings, cornices, doorways and windows. There is a large family room, formal dining room, an eat-in kitchen and full season porch. Plus the lower level offers an artist studio with a half bathroom. There is a heated pool surrounded by lovely gardens. Updating of baths and kitchen would make this even more splendid. Generator and air conditioning system makes this antique home a bit more comfortable. It is listed for $305,000.

171 Kent Road is lovely undeveloped parcel of land with nearly eight acres of open field and woods. It is protected on two sides by land held by the Kent Land Trust. With some cutting west and southwest vista can been had. One can build on the level meadow or higher up on the hillside. There is a shared private road and a rough driveway on site. It is listed for $130,000 with Toni Soule.

Toni Soule sold 4 Lee Circle where at the rear of this country home westerly views over the Housatonic River Valley can be seen. The master bedroom-bath suite and balcony deck are on the main level. The living room has a fireplace with a pellet stove insert, dining room, family room all with cathedral ceilings. The kitchen is roomy enough for a table and features granite counter tops. There is a finished lower section has a walk-out to the patio. The attached 2 car garage provides covered entrance to the kitchen. Saddle Ridge Farm includes the Association tennis courts and is surrounded by 100+ acres of Kent Land Trust. It sold for $385,000 two weeks ago.

Dramatic southern views of open pastures and the Housatonic Hills can be seen from this 1992 Cape at 9 Conboy Heights. Considerable room and light, including a spacious living room/dining room that leads to a deck and the views. The home offers an eat-in kitchen with radiant floor heating. There are 4 bedrooms, including one master en suite on the main floor, and 3.1 baths. An office space, 2 additional decks, a finished walk-out lower level and a two car attached garage are also included in the 2507 sq. ft. The .709 acres feature lovely perennials and landscaping. Part of Saddle Ridge Farm includes number of amenities like access to shared tennis courts. This home sold for $375,000.

10 Angel Vista is a sun-splashed 4 bedroom, 4.5 bath Colonial with 2600 sq. ft. There are lovely long western views over Housatonic River Valley. Wonderful features such as a spacious living room with cathedral ceiling, fireplace, and French doors out to a large deck and pool. The Master Suite has a marble bath, sumptuous walk-in closest and dressing area. The lower level is partially finished with a full bath and additional washer/dryer that is used for the pool. It sold for $575,000.

There are a number of properties on the market in Kent so if you wish to see any of them, or have someone who might be looking, give us a call.

Respectfully,

David Bain

Chris Garrity & Kent office-Toni Soule, Marilyn DeVos, Dave Fairty & Scott Harvey

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