Bain Real Estate - Market Update

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 7 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 la...

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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 deplet...

Click Here to Read More...

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 12 homes available where normally 35-40 should be for sale. And only 11 parcels of land offered. 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 11 sales in your neighborhood in the last year-8 in Brookwoods. Kent's...

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Bain Real Estate Sharon Village February 2020 Market Report.

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Dear Neighbor,

February 2020 provides a proper perspective of how Sharon's real estate values unfolded in 2019.  A slight uptick in sales occurred from 46 closings in 2018, to 49 sales in 2019.  A more surprising statistic, however, is the 60% reduction in inventory over 5 years.  Listing inventory is down to only 44 houses available in comparison to the nearly 75 listings in 2015.  What are the implications?  We think that this market constriction will likely bolster house values even further and make land that much more attractive, which has yet to recover from the 2008 recession, making the market all the more intriguing. 

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

PLEASE CLICK HERE TO SEE THE MAP

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...

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