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Date Archives: February 2022

Bain Real Estate - Market Update Home

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February
1

Dear Neighbor,

We, like all of you, are attempting to get back to "normal".  In that spirit, we have resumed our neighborhood letters with hopes of keeping you informed on local sales, offerings and trends.

Like elsewhere, the pandemic unleashed the flight to Kent, swelling our schools, dwindling our housing inventory and pushing our values.  The result is a market with only 9 homes and 9 land parcels available where normally 45-50 should be for sale. The flip side is the 20%-30% increase in values has seller's buoyant and buyers scrambling. Rents have soared as well.

All of this has some buyers and sellers on the sidelines waiting.  Waiting for what is the question?  The idea that the market will be flush with listing soon is not realistic. It is a seller's market. And we predict this new paradigm will be here for a number of years.

There have been 4 sales in your neighborhood. Kent's 53 annual sales are 30 less than last year.  Inventory depletion has tempered sales as there are only 6 homes in contract presently, down from our highs of 20 homes a year ago.  Despite fewer listings, sales are still brisk and competitive.  Here is what has happened in the last 12 months.

10 Lafontan Drive/ Listed: $499,000/  Sold: $485,000/  Days On: 79

My partner David Bain sold this well-maintained three bedroom, 2 bathroom raised ranch located on a private 1.5 acres. The 1400 sq. ft. upper level features post-and-beam ceilings and cherry hardwood floors. Custom cherry cabinetry, soapstone sink and countertops and a butcher-block island adorn the kitchen. The wood floors were harvested from Skiff Mountain. From the kitchen the back deck overlooks the expansive backyard and garden. A media room with woodstove, guest bedroom with full bath, and a home office are all on the 840 sq. ft. lower level. The mechanicals like central air-conditioning, propane high efficiency heating and a tank-less hot water heater provide good working order. Property also includes a 20x16 white pine barn.

 

64 Howland Drive/ Listed:$3,275,000/ Sold: $3,275,000/ Days On: 1

I sold this house in 2018 for $1,473,500 when it was a 5 bedroom home with 3,075 sq. ft. Within three years this colonial was transformed into a top of the line modern country home. Adding a large porch stretching across the front of the house towards the long distant views was one of the dramatic changes. Plus there was an additional 1,400 sq. ft. added along with new siding, roof, windows, flooring kitchen and bathrooms that were done as well.  A huge screened porch with a fireplace leading to a new pool and gardens made the indoor/outdoor flow seamless.   With both these major modifications and additions it is no wonder why this home sold before it even hit the public market.

71 Flat Rock Rd/  Listed: $697,000/ Sold: $650,000/ Days On: 134

This 1986 Colonial style home sits back from the road, surrounded by mature trees and plantings.  There are 2,808 manageable square feet of space including 4 bedrooms and 3 full and one half bathrooms. Flexible floor plan with eat-in kitchen opens to a sunny 23' x 23' family room with beamed ceilings and a fireplace.  There is a large deck and a sizeable screened porch all opening to a grassed back lawn adorned with native trees and ornamental plantings. The lower level offers a gym area, extra bedroom and small den. The two car garage and a generator help make the house more comfortable. This home sold in December of 2016 for $485,000 and four years later- with some improvements and COVID induced pressure the value increased to $650,000.

 

71 Richards Rd/ Listed: $1, 875,000/ Sold: $1,725,000/ Days On: 100

A gracious two-story foyer leads to an open floor plan in this meticulously kept contemporary barn.  Clad in stone, shingle and barn board, the house entails over nearly 4,000 sq. ft. with soaring ceilings, hand hewed beams, maple floors and more. It offers 4 bedrooms, 4 and a half baths and family room, gym and office.  There are two fireplaces-one in the main living room that opens to the kitchen and dining area. Ecologically designed the home features a 20kw generator, dedicated EV charger and 14kw photovoltaic solar panel system. A large covered deck overlooks a professionally landscaped yard that is protected with deer fencing. An outdoor shower is available as well as access to South Spectacle Lake. David Bain listed the home and Debbie Bain sold it!

 

79 Richards Rd/ Listed: $995,000/ Sold: $950,000/ Days On: 115

This 2003 Colonial has three bedrooms and 3 baths in 3,030 sq. ft. of living space.  The Great Room has a vaulted ceiling and is anchored by a fireplace. The many windows and two sliding doors offer natural light and access to the outside deck. The open floor plan concept links the Great room, dining room and kitchen detailed in granite counters. There is a screened-in porch off the living room as well as a cherry wood library.  The home is reached off a gravel drive and is set atop 5 acres of woods and lawn. This property also maintains access right to South Spectacle tennis courts, boathouse and lake.

 

We hope you are well and keep strong spirits. We feel so fortunate to be here, continuing working and thriving in this very curious time. Thank you.

And should you be interested in a free assessment of your house, call us, stop by the office or visit our website at www.bainrealestate.com.  Lastly, please note that we are able to send this letter out digitally, so email us and we will add you to the list.

Stay warm!

Chris Garrity

David Bain & Associates-Debbie Bain, Toni Soule, Erin Hull, Amy Danis, Amy Longley, Elisa Waysenson & Heidi Kearns

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

Click The Link To View The Map

South_Kent_Map_-_2022_-_Final.pdf

 

 

 

 

 

 

 

 

 

 

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