Bain Real Estate 2019 December Segar Mountain Market Report.

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Dear Neighbor,

December provides a review of how Kent's real estate values have unfolded. Little has changed from 2018 to 2019 with 49 closings in 2018 and 51 sales this year.  A surprising statistic is the significant reduction in inventory.  Listing inventory is down 15% YTY.  There are only 39 homes available. What are the implications?   Market constriction will likely bolster house values and make land, which has yet to recover from the 2006 recession, more intriguing. 

Nearly 60% of Kent sales this year have been below $400K.  The $400K-$1MM range earned 30% of the market transactions while 10% (5 sales) transpired above the $1MM mark.

Those waiting on land to regain values lost over the last 13 years may find land sales rebound in 2020. The lack of house options and only 16 land offerings is a positive sign, though a cautionary perspective is advised as there were only 2 land transactions in Kent this past year.

Here it is what has transpired in your neighborhood in the last 12 months.

28 Segar Mountain Road

This 16' x 38; 1 bedroom, 1 bathroom ranch has a new 3 bedroom septic and southern views over its gardened back yard. It's an ideal solar site. Just on the edge of the village, it is close to town but has a country feel. This one is clean and neat and I listed it for $139,500 and it sold for $135,000.

128 Segar Mountain Road

I sold this property for $225,000 in 1998.  Last year, a fire heavily damaged this 5 bedroom post and beam home with large windows and an open floor plan.  I recently sold this house and the renovations are underway. With considerable potential this 2800 sq. ft. home sold for $218,000.

9 South Road

Toni Soule & Chris Garrity sold this 3 bedroom, 2 bathroom raised ranch with a spacious living room and formal dining room.  Kitchen leads to a 14x24 deck overlooking 3 acres of manicured grounds. The lower level can be an in-law space or a family room. Built in 1987 this house has over 2300 sq. ft. with a separate laundry room, office a 2-car garage.  It closed for $265,000.

55 Stone Fences Lane

A 1996 4-bedroom, 3 and a half bathroom home entails over 2400 sq. ft. and has a first floor master with whirlpool tub. Other features include a fireplace, vaulted ceilings, deck and finished walk-out lower level. The newly renovated kitchen includes stainless steel gas range and stone counters. Sited on 2.41 private acres, it sold at $374,500 after spending 2 years on the market.

39 Stone Fences Lane

This 1996 farmhouse house offers over 2400 sq. ft.  The kitchen has stainless appliances and granite counters plus easy access to a wraparound mahogany deck. Main floor has both a master with walk-in closet and en-suite bath and a bookshelf lined living room. Three additional bedrooms are on the 2nd level while the lower level is a family room.  This sold for $440,000.

16 Stone Fences Lane

This 2006 Cape Cod has a 1st floor master with both laundry and bathroom en-suite. Two additional bedrooms and a full bath are upstairs. There is a large, eat-in kitchen plus a formal dining room. The attached 2 car garage provides shelter from the weather.  There are 2.77 acres of level land. Priscilla Pavel of my office listed this for 134 days when it sold for $380,000.

15 Bald Hill Road

This1969 Split Level style home offering over 1,000 sq. ft. is up on 2.5 acres of land. Requiring considerable work, it has 3 bedrooms, 2 bathrooms, full basement for added storage and a 2 car garage.  Listed for over a year this Bank Owned property sold for $94,400 

30 Kenmont Road

Along the shores of the west end of North Spectacle Lake we have listed a seasonal cottage. Known as the "Big House" by the family who built it in the early 1900's it sits above the lake with views and steps to the dock and lakeside.  With just under 1000 sq. ft. the place has two bedrooms, 1 bathroom a fireplace and a screened porch.  It's a lovely getaway for $289,000.

  38 Davis Road

Antique 1-room school house circa 1900 has cottage features, cathedral ceilings, framed-in bedroom, bathroom, staircase to a loft and cupola on the roof. Requiring imagination and creativity this perfect small house offered potential. This home was sold in "as is" condition and has since been upgraded by the new owners who purchased the building for $50,000.

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 the aforementioned listings and sales but also one can find 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. 

Happy Holidays,

David Bain &

Chris Garrity-Toni Soule, Marilyn DeVos, David Hurlburt, Scott Harvey, Karen Grimaldi, Heidi Kearns,

Asher and Priscilla Pavel

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