Bain Real Estate Kent Route 7 South 2019 March Market Report.

Dear Neighbor

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Litchfield County's real estate values have grown nicely since the Great Recession ten years ago. As the economy has strengthened, buyer confidence has in turn responded positively; so growth has ensued. Hence, in 2017 we saw 36 sales in Kent and in 2018 we had 41, a slight improvement. A cautionary approach is advised, however, as the local, state, national and even global issues affect consumer confidence and the winds could blow in a different direction tomorrow!  

We are seeing this fickleness manifest at the upper end of the market, as the sales have not been as brisk as the mid-range. This past year, Kent had only 4 sales over $1MM or less than one percent of the all sales. This issue is not solely a Litchfield County concern as we see this depreciation of the upper end of the market in other areas of the county and state as well. 

Offerings are limited with only 38 homes currently available and the question is whether this scarcity solidifies values or turns buyers off. There are 2 home sales in contract presently in Kent.

Since I last wrote, we have been busy listing and selling. I am happy to report that Bain Real Estate sold two of the four sales in your neighborhood.  Of these sales, three were bank owned and each sold incredibly quickly.  Here they are:

86 Kent Road is a cozy riverfront ranch style home on one acre.  From this 1800 sq. ft. home Housatonic River and mountainside are seen. There are 5 spacious rooms including an eat-in kitchen, living room with fireplace, dining area and 2 bedrooms. There is a one car detached garage. This home was bank owned and had been listed for $184,900.  But it was well priced and lasted only 15 days prior to an accepted offer and selling over asking price of $192,536.  

18 Birch Hill Lane was also a foreclosure and in need of some updating when it sold. This 1943 ranch style home offers 1200 sq. ft. and has a half an acre of land high on the banks of the Housatonic River.  It features 3 bedrooms and 1 full bathroom. There is a sizeable living room with stone fireplace, large eat in kitchen, formal dining room and attached 1 car garage. It lasted 7 days on the market and while listed for $110,000 it closed higher at $117,050.

209 Kent Road is another foreclosed property that sold this year. Set well back off the road, this 3 bedroom, 3-bath Colonial built in 2007 has 2.3 acres. The layout is open with a large kitchen featuring granite counters and hardwood floors and sliders leading to a patio. There is a fireplace in the living room as well. 3 full bathrooms all have marble and granite counters plus tile floors. The master bedroom has hardwood flooring, walk-in closet and full bath with tub and glass enclosed shower. The 9 Ft ceilings on main floor make the rooms larger. The house offers 1844 sq. ft. with large windows overlooking the grounds terraced with stone walls. 2 car detached garage with 900 sq. ft. loft. Toni Soule of my office found the buyer who paid $335,904 off an asking price of $349,900. Again as with all well priced houses this only lasted 31 days on the market.

We sold 30 Valley View Road! This renovated barn was originally located in the village of Kent and in the 1980s was assembled on this 2.92 parcel of land.  Now with its easy open floor plan it's great for entertaining. There are 3 bedrooms, 2 full baths, a kitchen with terra cotta tile floors and stainless steel appliances. Antique hewed beams are accentuated by vaulted ceilings. There is a cozy wood stove and skylights brighten both the rooms and the patina of the old wood flooring.  There is a game room that opens to a stone patio and a sunroom with a bank of windows leading outside to an oversized deck. It sold for $378,000 from a list of $399,000.   

There are other offerings on the market and if interested call us, stop by the office or visit our website at www.bainrealestate.com.   One can find not only listings and sales but also this letter and all other Kent neighborhood letters archived on our site too. And if you wish to follow our blog for new listings, sales and other interesting real estate tidbits join up from our website. 

All the best,

David Bain &

Chris Garrity-

Toni Soule, Marilyn DeVos, David Hurlburt, Scott Harvey, Karen Grimaldi, Michele Pastre,

Asher and Priscilla Pavel

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