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August
9

 

Dear Neighbor,

In the spirit of getting back to normal, our neighborhood letters are out again with hopes of keeping you informed on local sales, offerings, trends and the Bain perspective.

The pandemic unleashed a flight to Kent from NYC, swelling our schools, absorbing our housing inventory and pushing our values to levels not seen in a long time, if ever.  The result is a market today with only 9 homes available where normally 35-40 should be up for sale. And there are only 9 parcels of land offered. The flip side is the 20%-30% increase in values has sellers buoyant and buyers scrambling with rents soaring as well.

All of this has some buyers and many more sellers on the sidelines waiting, but waiting for what is the question.  The idea that the market will be flush with listings soon is not realistic. It is a seller's market.  We predict this new paradigm will be here for a number of years to come.

Kent registered 53 sales in the last 12 months. This is 30 fewer home sales than in the 2021. This dramatic drop is not due to lack of interest however, but lack of inventory.  The depletion of homes for sale has tempered sales leaving only 4 homes in contract presently. Despite fewer listings, purchasing desire is strong, sales are brisk and competition is fierce. 

Here is what has transpired since January 2021:

House Sales:

39 Segar Mountain Rd                                 2/12/2021                                            $425,800

This sixty year old country home has been nicely upgrades and offers 3 bedrooms and 1 and 1/2 baths. There is nearly 2000 sq. ft of living space with the wood beams and cathedral ceilings in the recreational room and a fireplace in the living room. The stone patio is made from native stones and an outdoor shower opens to views of the distant hills. Elevated from the road this lot entails 8.14 acres of open lawn and woods.

85 Segar Mountain Rd                                 11/15/2021                                          $365,000

Toni Soule of my firm listed and sold her 1989 ranch home with 3 bedrooms and 3 baths. This house has both main and lower level that each has a kitchen. Large deck opens to views of the distant hills. A shared drive elevated from the road this property has over 6 acres of woods.

173 Cobble Ln                                               2/16/2022                                            $616,140

My partner David Bain represented the buyer of this custom built home on the corner of Cobble and Segar Mtn. Roads on over 8 acres of land.  This unique design was created to take advantage of the lovely Cobble setting. The 2 bedrooms and 2.5 baths, offers lovely pastoral views and abundant light. The country kitchen featured a center island, cherry cabinets, gas range and soapstone sink. The living room has a fireplace, and is the access to a screened porch and open deck at the back of the house where the rush of Cobble Brook is heard.

171 Segar Mountain Rd                               12/6/2021                                            $500,000

The 4 bedroom, 2.5-bath Colonial is sited on 2.39± acre wooded parcel. The kitchen opens to main room with gas fireplace and views, formal dining room with access to deck, living room with woodstove. The 1st floor includes the primary bedroom with full bath & walk-in closet. The second floor includes 3 additional over-sized upstairs bedrooms, and a media room. This 2500 sq. ft. home built in 2004 is situated in a private setting with beautiful exterior stone work.

39 Stone Fences Ln                                      9/28/2021                                            $630,000

This modified farmhouse built in 1999 is a study in the market over the last 20 years. We sold this in 2004 for $529K and it sold again in 2019 for $440K. Recently the home sold for $630,000 all with few alterations during each transaction.  The house is well designed and well maintained with a first floor primary bedroom and two comfortable bedrooms on the second floor.  The main level has an open country kitchen that accesses the back covered porch and the garage. Central air conditioning and a generator make it even more comfortable.  Set on 2.19 acres with woods and stone walls this 2400 sq. ft. home is protected on the back by 20 acres of dedicated open space and in front by a large field owned by the association.    

20 Stone Fences Ln                                      2/27/2021                                            $735,000

This modern modified farmhouse has 3200 sq. and is a blend of contemporary style within the New England vernacular. The kitchen as featured in Architectural Digest has sleek lines, concrete counters and stainless steel appliances. Propane heating, along with propane fireplace with reclaimed barn wood/stone surround. There is an open floor plan entails the kitchen, butler's pantry and great room with cathedral ceilings anchored by a fireplace. There is a dining room, primary bedroom suite on the main level while two bedrooms are on the second floor. The property features 3.34 acre level lot. .

15 Bald Hill Rd.                                             1/19/2021                                            $450,000

Recently renovated 3-bedroom, 2 full baths 1969 house offers 1900 sq. ft. of living space.  Total renovation included a two car on new foundation and a new septic system. The primary bedroom suite features a stone fireplace and walk in closets. Sited on over 2.5 acres of lawn and woods, the property is detailed in stone walls and has mature landscaping.

71 Richards Rd.                                            10/15/2021                                          $1, 725,000

We recently listed and sold this amazing 3900 sq. foot contemporary barn on 5 acres. A gracious two-story foyer greets you as you walk in the front door to a spacious open floor plan and cathedral ceilings. The kitchen is open to the main living room offering a country feel. There are two native stone fireplaces, and a large covered deck for entertaining. The 4 bedroom home has been superbly maintained and offers many upgrades since its construction in 2005. All new Marvin doors and windows installed in 2020 as well as a new roof.

79 Richards Rd                                 10/18/2021                                                      $948,800.

Custom designed Colonial offering private outdoor spaces and spacious interiors.  The great room features vaulted ceiling, wood burning fireplace, oak flooring, oversized windows and doors that open to a generous deck. The floor plan opens the kitchen to the dining room and the screened-in porch. There are three bedrooms and three full baths in over 3000 sq. ft.  The house is sited on a slight rise on the 5 acre lot that is privately wooded.

404 Segar Mountain Rd                               7/20/2021                                            $675,000

This 1979 colonial home has over 9 acres of lawn and woods creating a private 2800 sq. ft. retreat. The kitchen was recently remodeled and opens on to the formal dining room, living room and back yard deck. Recent upgrades include solid white oak flooring, wood paneled ceilings, updated bathrooms, and a high-efficiency radiant heating system. A separate one-bedroom apartment, complete with kitchen and light-filled living room, is located over the two-car garage. Property includes a detached 24x36 barn.

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 if you are considering selling this seems to be an unprecedented time to capitalize. Call us for a free assessment of your house or land. Or stop by the office or visit our website at www.bainrealestate.com

All the best!

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