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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.

It is here. There is a growing pool of buyers who are serious and will purchase, if the right house and value coincide. The number of offerings is being sold off at a considerable pace. In fact, we are seeing a tightening of inventory which helps solidify market values.

It is time again for our annual neighborhood real estate report detailing the real estate activity in the last 12 months in the South Kent neighborhood.

As noted above shrinking inventory is the big news as the year wraps up. There are only 44 house listings on the market in Kent presently. This is an inventory figure we have not seen for over 10 years. And of this figure there are 7 homes are in contract to sell!

While we anticipate that spring of 2017 will find more listings coming to market, the volume will not be high. The lack of inventory puts pressure on the buyer to act sooner.

In the last 12 months there have been 42 residential sales in Kent compared to 43 the previous 12 months showing consistent selling volume.Here is what has happened in town.

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

2013-14 26 $728,608 153 Days on $671,355

2014-15 43 $488,108 198 Days on $433,322

2015-16 42 $491,874 157 Days on $458,840

So here is what has transpired in your neighborhood:

11 LaFontan Drive is a 4 Bedroom, 3 Full baths on a private, 1.75 acre level lot. There is a large bonus room on lower level opens up to the perfect yard. In-law capabilities on lower level with bedroom, full bath with new vanity and tile and separate access. The ceilings on main floor in Dining room and Living room are all vaulted plus new flooring in Dining and Living rooms. The house measure over 1320 square feet and has a new roof. It was listed for 40 days at $279,900 and closed for $275,000.

64 Geer Mountain Road is a 2300 square foot cape style home on 5.84 acres. Nestled on a wooded hillside, this charming cape has a 1500 square foot bluestone terrace off the kitchen and perennial gardens. The house is immaculate, with beautiful hardwood floors, tastefully painted interiors, granite kitchen counters, two fireplaces, an expansive living room with custom cabinetry, and a large den/family room/library with built-in bookcases.

There are 3 bedrooms and 2 and a half bathrooms. I had the listing which sold for $385,000.

81B Geer Mountain Road is a sought after location in our scenic area of South Kent This parcel offers total privacy and views on 14 acres a mix of mature forest and meadows old stone walls. Sited atop a hill the approach past fields, rushing stream, leads to this classic Federal Colonial with barn. There is a formal dining room with a large Palladian window. There is a living room anchored by a fireplace and a family room that open to a 4-season porch with views to the west. Ed Cady Barn with 4 stalls offers other potential uses. Built in 1989 this 2800 square foot home has 3 bedrooms, 3 full baths and one powder room. Initially listed over a million dollars in 2012 the house sold in 2016 for $709,000.

25 Brown Road is a beautifully renovated farmhouse style home with 6+ acres of complete privacy. The 2464 sq. ft. home offers an impressive wraparound cedar porch with dining area overlooking the park-like landscape. There is a bright and open interior with a completely new kitchen with high-end appliances, hardwood flooring throughout, family room with fireplace and sliders opening to an expansive rear deck. Among the four upstairs bedrooms is a new en-suite master with walk-in closet. The paved driveway and 2-car garage round out this 1996 colonial which sold for $540,000 after 119 days on the market.

Atop Iron Mountain Road there were two sales on this private gravel road:

28 Iron Mtn. Road is a 2001 contemporary that sits on 5 acres of woods with a nice view to the east. The 4 bedroom home features wood flooring throughout and large windows. There is a large native stone fireplace in the living room that opens to a nice terrace and also connects to the main floor master bedroom. Adjacent to the main residence is a garage with large unfinished loft above. This home had been on and off the market since 2008 where it was listed for $1.2 million. It sold for $600,000 last February, off the last asking price of $649,000.

29 Iron Mtn. Road is nearly the opposite of #28 across the street. This beautifully built 2004 Colonial is sited on 5 private acres as well but faces west with seasonal sunset views. The 2,860 square foot home features hardwood floors throughout, three spacious bedrooms, 2.5 baths, and a large eat-in kitchen with granite counters and stainless steel appliances that opens onto a spacious deck. The master bedroom suite incorporates a large private bath, his-and-her walk-in closets, as well as a lovely sitting room that can be used as a fourth bedroom. In addition, the walk-out basement has been finished into a media/game room. Like its neighbor this house was listed on and off since 2012 but relisted in 2015 for $595,000 and selling for $525,000.

There are a few properties listed in the neighborhood but here are two offerings of interest.

64 Howland Drive is an opportunity to acquire a perfect property perched atop Geer Mountain with the incredible South Kent views. There is a lovely mix of woods, stone walls, barn and pasture on this 18 acres parcel. This 4611 sq.ft. Colonial style home is in excellent condition featuring numerous details like hardwood floors, three fireplaces, extensive moldings, soapstone countertops, top-of-the-line appliances and spacious rooms. Views from each room are available. There are 4 bedrooms and 3 and a half bathrooms. Surrounded by protect land and the long views this property is market listed for $2,100,000. Chris Garrity and Dave Fairty have this listed.

I have listed 94 Richards Road a very private one level country home with winter views. This 3 bedroom, L-shaped one level home is a care free retreat. It has a large living room/dining room that focuses on the fireplace. Sliding glass doors open to a large new deck is perfect for entertaining. The master bedroom is large and multi-leveled room with an en-suite bathroom. This 1760 sq. ft. home has 2 bathrooms, woods flooring and a 1970's galley kitchen. It is listed for $359,000.

There are few more listings available in the neighborhood a number in Kent altogether, so if you wish to see any of them, or have someone who might be looking, give us a call.

Happy Holidays!

Respectfully,

David Bain

Chris Garrity

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

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