Bain Real Estate - Market Update

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The dog days of summer have past and we are enjoying glorious, warm sunny days as August slides into September. Real estate in your neighborhood has boomed with 8 sales against only 2 from 2015. It is still a buyers market but the good news is that more buyers are coming into Cornwall.

Here are the 8 sales to report:

Town Street/Yelping Hill a 19.69 acre parcel of land was sold to this leasehold community by another community member whose family had owned it independently for several decades for $73,500....

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The first two quarters of 2016 were promising in terms of real estate transactions. There were 46 in the last year in Kent and 25 sales in the last 180 days. It seems the summer slumber has taken hold as buyer activity is slowing.

There is a small pool of buyers who are serious and will purchase if the right house and value coincide. Generally speaking the buyers are more attracted to homes that are well cared for with little work to be done. The better condition and the newer the upgrades to the house, the easier it is for it to sell.

There is still more property supply...

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Dear Neighbor,

We are seeing the path back to a more balanced market. There is a small pool of buyers who are serious and will buy if the right house and value coincide. There is still more property supply than buyer demand, but the number of offerings is being slowly chipped away. Here is our annual real estate report detailing the real estate activity in the last 12 months in Kent and your Bulls Bridge neighborhood.

In the last 12 months there have been 48 residential sales in Kent compared to 39 the previous 12 months.

We saw 9 more sales year-over-years suggesting a...

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Bain Real Estate Cornwall Bridge 2016 Market Report

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Dear Neighbor:

Spring has finally arrived with warmer and longer days, green fields and tulips popping up. The Cornwall Country Market has an expanded kitchen to serve even more delicious offerings. James Idella and staff welcome all in a most friendly manner. We are fortunate to have a well stocked hardware store with a specialized paint center. Sportsmen flock to Harold MacMillan's sports shop and we all enjoy wine tasting at Richard Bramley's Cornwall Bridge Liquor Store. In Cornwall Bridge we have it all, from art (to be bought and framed) and Steven Speduto rugs to line our floors to the National Iron Bank that keeps us all in cash.

Last year we reported 9 sales in the C...

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Dear Neighbor:

We are seeing the path back to a more balanced market. There is a small pool of buyers who are serious and will buy if the right house and value coincide. There is still more property supply than buyer demand, but the number of offerings is being slowly chipped away. Here is our annual real estate report detailing the real estate activity in the last 12 months in Kent and your North Kent neighborhood.

We saw 11 more sales year-over-years suggesting a more bullish buying sector. That said winter was milder this year so a seasonal effect may also figure in this bump in sales. Interesting is the increase time it took to sell a house climbing from 149 days on average to 215 days.

A common benchmark of the market's health is the number of available listings. While there are only slightly fewer listings on the market today (53) than three years ago (58), we have been trending on a decreasing plane. A balanced supply and demand create a more normalized market. Also encouraging is the fact that there are 8 homes in contract presently. There are only 5 properties available for sale in the neighborhood and these are the three that sold in the last 12 months.

321 Kent Cornwall Road

I sold my house, a completely renovated wonderful old colonial, featuring a gourmet kitchen, a formal dining room, cozy fireplace in living room with a large window seat looking out over to distant western views. The large deck is off living room and overlooks both the gardens and the view out over 8000 of protected acres. There are 5 large, light filled bedrooms, with the master suite located conveniently on ground floor. The grounds offer stone wall laced gardens, private pool with waterfall, out door shower, tumbling brook and spacious lawns. Listed for $535,000, it sold for $450,000 after spending 279 days on the market.

  Unit 30 Brookwoods

This Saltbox Style home is in impeccable condition with an open floor plan, renovated kitchen, fireplace in the living room and wood flooring throughout. - This contemporary saltbox has cathedral ceilings in the kitchen, sunroom, first floor bedroom and bath. Kitchen and sunroom also feature a breakfast bar, skylight and ceiling fans. Living and dining rooms each have fireplaces. It closed at $250,000 after 301 days on the market at $290,000.

12 Dugan Road

Cozy and privately sited cottage complete with hardwood floors, a wood burning fireplace, built-ins, country kitchen, full basement, and a wrap-around deck. Living is all on one level for easy living in this three bedroom one and a half bath home on 2 acres. This house had been on and off the market since 2010 and was listed as high as $375,000. In its last listing iteration it was listed for $237,000 and sold in125 days for $210,000.

Chris and I, along with our entire firm, hope you enjoy our updates of the market and want you to know you can find this letter and all our Kent market letters on our website www.bainrealestate.com under Neighborhood Stats. There is a place there where you can give us your email address to get these letters and other market updates electronically. We continue to work to assist buyer and sellers in their pursuit of their goals and thank you for supporting our success as the leading real estate firm in Sharon, Kent and Cornwall over the last 10 years.

Happy Spring!

Respectfully submitted,

David Bain

Chris Garrity

& the Kent office, Toni Soule, Marilyn DeVos, Debbie Bain, Eve Iselin, Dave Fairty and Scott Harvey.

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