Bain Real Estate Brookwoods and North Kent 2020 January Market Report.

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Dear Neighbor,

The New Year provides a review of how Kent's real estate values have unfolded in 2019. Little has changed from 2018 with 49 closings and 53 sales in 2019.  A surprising statistic is the significant reduction in inventory.  Listing inventory is down over 15% YTY.  There are only 33 homes available. What are the implications?   We think that market constriction will likely bolster house values and make land, which has yet to recover from the 2006 recession, all the more intriguing. 

Nearly 60% of Kent sales in 2019 were below $400K.  The $400K-$1MM range earned 30% of the market transactions while 10% (5 sales) transpired above the $1MM mark.

Those who've been waiting on land to regain values lost over the last 13 years may find land sales rebound in 2020. The lack of house listings and a limited number of land offering (16 parcels) 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.

310 Kent Cornwall Road- Sold–$200,256

A foreclosure that requires considerable renovation. This colonial built in 1900 offers 2800 square feet. It has 3 bedrooms and 2.5 bathrooms. There is a nicely sized kitchen, separate dining area, a family room and mud room. The living room offers access to a back yard and 2.75 acres. There is hardwood flooring throughout plus a two car detached garage and a full, unfinished basement.

  316 Kent Cornwall Road- Sold- $1,002,000

This 1797 barn with new construction offers 3 bedrooms and 3.5 bathrooms. Soaring ceiling, stone fireplace, exposed posts & beams, barn siding, open space, and silo are the major features. There is a modern kitchen and baths, oak flooring, smart home technology and a park-like setting with a pond and pool.  The upper level has a loft overlooking the living room, a full bath and bedroom (in the silo) with a conical ceiling. The lower level has a 3-season porch, media room and laundry. The level and open property is entailed on 3.6 acres and features a gunite pool, pond, pergola and sweeping lawns and native shade trees.

497 Kent Cornwall Road-Sold-$260,000

1985 contemporary ranch with views of the Housatonic River entails 3 bedrooms and 2 bathrooms in over 2200 sq. ft.  An open floor plan includes a wood-beamed living room, dining area and kitchen.  Plus, it has a large sunroom offering a vaulted ceiling and access to a deck with back yard views of the river. The lower level has a family room, wood stove and two additional rooms plus a full bath and sliding doors to the exterior. Set on 1.91 acres of woods.

There were no sales in Brookwoods in the last year but there are two properties on the market for sale for an average asking price of $234,500.  That's slightly above the average sale in the last 5 years of $230,666.

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 2020,

David Bain &

Chris Garrity

Associates: 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