Bain Real Estate - Market Update

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 Dear Neighbor,

Here is the annual neighborhood real estate report detailing the real estate activity in the last 12 months in your area of Kent.

The 27 sales transactions in Kent in the last 12 months is slightly fewer than previous year's volume of 30. However we are seeing the path back to a more balanced market where there is a small pool of buyers and a limited amount of homes available for sale. Presently there is still more seller supply than buyer demand but that volume is slowly being chipped away.

Moreover, the national economy is systemically healthier providing a more confident buyer pool. We are seeing a very strong upper end of th...

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Dear Neighbor,

Here is the annual real estate report detailing the real estate activity in the last 12 months in the Sharon/West Cornwall neighborhood.

Sharon home sales were slightly ahead of last year’s pace with 43 homes sales in the last 12 months against 41 the previous period. The local real estate market is getting healthier incrementally.

Yet there are 92 homes on the market in Sharon (with 7 homes in contract to sell) which is a historically large supply. Salisbury by comparison has 98 listings (9 in contract) and Kent maintains 63 offerings (6 are in contract) each town has approximately 10 more homes on the market than last years’ offerings.

Earlier in the year the market was vibrant with a number of homes selling. Spring through mid summertime was also quite strong. The market is traditionally slow as summer ebbs, but the 4^th quarter is shaping up nicely as the buyers are more plentiful and a bit more eager to buy. Additionally, the last 12 months has seen 8 land sales according to the CTMLS and the town records. It is especially nice to see the uptick in interest in land.

To put this year in perspective please see the charts below. The first set of statistics show the last twelve months of activity while the second Market Analysis Report is from 10 years ago (prior to the bubble bursting). Ten years ago the houses sold quicker and closed for closer to asking price. But the sq. ft. cost is roughly the same and the number of sales was dramatically lower ten years ago. The average sales price is considerably higher too.

So it appears the current trends are positive!

There was only one property in the neighborhood that sold in the last twelve months. It was a one acre parcel of land abutting the Housatonic River on Old Route 7. It was listed at $75,000 and closed this October for $68,000.

Here are a few things we currently have listed in the neighborhood (to see everything available in Sharon go to out web site www.bainrealestate.com ):

There are 30 acres of natural beauty surrounded by state forest land that is included with the house at 184 West Cornwall Road . It's made up of 3 surveyed parcels: The 1384 sq. ft. house comes with 2.13 acres and has 3 bedrooms and 2 bathrooms. It requires some renovation and upgrading. The balance of land is a separate parcel that has considerable elevation (over 1100 feet) offering views to the south and east. The whole package is listed by Rick Meehan of the Cornwall office for $365,000.

A 1920’s gambrel roofed shingle home sits high on the hill looking out over the Housatonic River and the West Cornwall Covered Bridge at 319 Route 7. Dramatic views from both porches. Main level porch is enclosed and heated. Lower level porch is part of a separate in-law or rental apartment. With over 3280 square feet the house has great space with 6 bedrooms and 4 bathrooms on 2.2 acres. Priscilla Pavel of my Cornwall office has this listed for $375,000.

Rick has also listed 296 West Cornwall Road a small ranch that looks out upon the covered bridge. The 2 bedroom, 1 bathroom house deserves some loving and skilled attention to become a great investment or as a pleasant place to live. It's a great starter house or retirement home with 1094 sq. ft., wood floors and a full basement. With just under an acre, the grounds are easy to maintain. It is listed for $154,400.

Up off Swaller Hill Road we have a 21.14 acre parcel of land with views to the southeast and solar centric listed for sale. Primarily wooded this parcel is slightly sloped to the east. It is listed for $299,000.

Further up Swaller Hill off a quiet graveled road is where we have listed a solar A frame home at 9 Birch Lane. The 2000 sq. ft. home is very privately sited on the 4 acre level lot and offers 3 bedrooms, 2 baths and a lower level ready to be finished. There is a large deck and oversized windows to promote the ease of both inside and outside living. It is listed for $355,000.

Across the street we have a level and wooded 4 acre parcel on Birch Lane ready for development. The lot is listed for $140,000.

396 Route 7 is a genuine country cabin perched dramatically above the Housatonic River with views over the water and the valley below. Sited on 10 acres of woods and level land this is a 1950’s log cabin and a perfect place to enjoy the country. Woods, river and serenity are found here along with a pool and four electrically lit pool cabanas. The house has 5 bedrooms and two bathrooms and a period native stone fireplace. It is listed for $345,000.

Respectfully,

Chris Garrity

David Bain

& the Sharon office- Jennifer Lunning, Michele Pastre, Sam FitzGerald, Drew Holland and David Almquist

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

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Dear Neighbor,

  Here is the annual Village real estate report detailing the real estate activity in the last 12 months in the village of Kent on the residential, condominiums and commercial properties.

 Sales transactions in all of Kent were considerably lower since I last wrote which echo the national and state trends. Case Schiller report noted that prices have increased slightly while volume of sales transactions has dropped. This drop is in part attributable to the investor buyer segment of the market that has taken advantage of the “good deals” in the last few years. W...

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Dear Neighbor,

Here is the annual real estate report detailing the real estate activity in the last 12 months in the White Hollow neighborhood.

Sales transactions in all of Sharon were considerably lower since last year’s report this slowdown echoes both the national and state trends. Case Schiller report noted that prices have increased slightly while volume of sales transactions has dropped. This drop is in part attributable to the investor buyer segment of the market that has taken advantage of the “good deals” in the last few years. We are seeing a return, albeit slowly, to a more balanced market where there is a small pool of buyers and a limited amount of homes available for sale.

Sharon’s real estate market is slightly more active and incrementally getting healthier. Data shows that 2014 sales were slightly stronger than 2013 in Sharon with 43 sales in the last twelve months compared with 39 in the year prior.

 But there are 96 homes on the market (only 3 in contract to sell) in Sharon which is a historically large supply of homes. Salisbury by comparison has 98 listings (9 in contract) and Kent maintains 63 offerings (6 in contract) each town has approximately 10 more homes on the market than last years’ offerings.

Earlier in the year the market was vibrant with a number of homes selling. Spring through mid summertime was also quite strong. The market is traditionally slow as summer ebbs, and it will be interesting to see how the 4^th quarter shapes up as the buyers are plentiful as they traditionally are this time of the year. Additionally, the last 12 months has seen 10 land sales according to the CTMLS and the town records. It is especially nice to see the uptick in interest in land.

Year over year stats from Oct-Oct. indicate that the sales volume has remained constant with 4 more sale this year than last. To put this in perspective the last Market Analysis Report is from 10 years ago which was the run up before the bubble burst. Ten years ago the houses sold quicker and closed for closer to asking price. But the sq. ft. cost is roughly the same and the number of sales was dramatically lower ten years ago.

So it appears the current trends are positive!

 Here is what transpired in the neighborhood this past year:

120 Calkinstown Road is an antique home in impeccable condition and loaded with charm that sold within the last 12 months. This 2500 sq. ft. Cape style home has 4 bedrooms and 3 and one half bathrooms. There are old wide board floors throughout, plaster walls and a wood shingle roof on this 1740’s home. There are over 7 acres of open land, rock walls, garden and brook. It closed for $1,000,000.

This renovated antique at 158 Calkinstown Road has all the charm of an 18th century center chimney saltbox plus includes a new kitchen and renovated bathrooms. And the basement was rebuilt in the 1980's. This 2347 sq. ft. house has 3 bedrooms and 2 bathrooms. There is an in ground pool and a landscaped private yard abutting conservation. It was listed for $595,000 and sold for $565,000.

30 Jewett Hill maintains uninterrupted views to the Catskills from this estate Colonial on 34 acres. The house is reached by a private winding driveway to a Belgian Block courtyard dotted with mature pear trees. The house boasts quality design and detail with a comfortable 5321 sq. ft. of living space. There are 5 bedrooms and 6.5 baths plus a large Kitchen/Breakfast Room, spacious Family Room, gracious Living/Dining Room, Office and Master Suite, all open to columned porch, terrace and sweeping views. There are four en-suite bedrooms plus Home Theatre and Exercise Room. The house includes 2 fireplaces and state of the art Internet Technology. Bluestone terrace and irrigated landscape connects to a heated Gunite pool. Closing Price: $4,000,000 on a listing price of $5,250,000.

268 Calkinstown Road was recently sold for $170,000 as an undeveloped parcel of land. This 1.1 acre had a house on it which was demolished last year as the house was in poor condition. The house sold last year for $220,000.

139 Calkinstown Road is a sweet Sharon Cape home on over 1/2 acre of land. There are 3 bedrooms and one bath with an open living and dining room. There is wood flooring throughout. Kitchen opens to a private deck and back yard. It was listed for $237,500 and sold for $220,000.

76 Jackson Road is a post and beam barn house with modern touches. Spacious rooms and cathedral ceilings highlight the barn frame. There is a large fireplace, wide board pine flooring and an open floor plan. The porch has floor to ceiling screens and mahogany flooring. There is a large master suite plus a fully operational attached guest house with a kitchen, fireplace and screened porch. There are 6.08 acres of land with woods and fields. Plus there is an expansive barn system for horses, entertainment, storage or hobbies. I had this property listed for $795,000 and closed for $678,000.

22 Red Rock Road is nestled in the maples and shagbark hickories, and is in move-in condition. Thousands of acres of protected land are within walking distance from this 3-bedroom 2-bathroom home on 5.97 acres. The open floor plan with sliders to decks and screened porch all increase the livability and desirability of this wonderful property. It is listed for $354,000.

A 1760 antique loaded with charm at 145 White Hollow Road sold for $453,750 last December. Many modern updates to the kitchen and baths, plus cosmetics & mechanical improvements made this old house easy to live in. Set on a beautiful 13 acres, the meadow is perfect for horses. There is a 3 season cottage with a bathroom and fireplace, a writer's studio and 2 car garage are also part of the property. It had been last listed for $499,000.

38 acres • 5 BR • 6 BA • 1

150 White Hollow is a Cape style home with an open floor plan and wonderful setting. The natural wood interior of this the 1,932 sq. ft. home with 3 bedrooms and 2 bathrooms provides a warm country feel. Considerable natural light with southern exposure makes this property ideal for solar energy possibilities. The home is listed for $349,000.

We have also listed an affordable lot with a babbling brook on Gay Street. The lot can remain mostly wooded for privacy or cleared substantially to allow more light, an opportunity to build a nice house in Sharon. This 2.69 acre parcel has 25 feet of road front and is listed for $72,000.

We have other offerings around town so if you know of anyone seeking a home, let us know or point them to our website at: www.bainrealestate.com

We hope you enjoy the coming autumn and will write again next year. Or you may find these letters and others sent to different Sharon neighborhoods that are archived on our website look for “Neighborhood Stats” on the home page.

Respectfully,

Chris Garrity

David Bain

& the Sharon office- Jennifer Lunning, Michele Pastre, Sam FitzGerald, Drew Holland and David Almquist

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Dear Neighbor:

We’ve had a lovely summer selling properties in your Cornwall neighborhood and fall is now here with some exciting new listings. Currently there are 38 homes and 17 lots for sale in town. The homes range in price from $168,500 to $3,695,000.

Buyers are still negotiating for the very best prices they can get as our report on what has sold will show, but most of the sales were cash sales. The sale prices still range in that mid-point between the town appraised value and the town assessed value (70% of appraised value).

Last year we reported 2 sales in your neighborhood. This year we are reporting 7 sales and 3 properties are currently listed for sale. A nice pick up!

38 Pop...

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