Bain Real Estate - Market Update

 Bain Real Estate 2020 January Mid Cornwall Market Report.

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Happy New Year!  We are excited for the new decade!  Real Estate in Cornwall continues to be most desirable and business is picking up by contrast with a number of years ago.  In my last letter to your neighborhood I was able to report 3 house sales and 1 land purchase, plus one land lot listed for sale.  In this letter, I am reporting on 7 house sales and 3 land sales.

Overall, we have seen 23 residential transactions in the last year which is consistent with sales figures for the last four years.  There were 7 land sales last year a greater number than most towns in Litchfield County; though 4 of these sales that we transacted were JP Morgan Chase Bank...

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Bain Real Estate 2020 January Studio Hill and Cobble Market Report.

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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 the marke...

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Bain Real Estate 2019 December Segar Mountain Market Report.

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Dear Neighbor,

December provides a review of how Kent's real estate values have unfolded. Little has changed from 2018 to 2019 with 49 closings in 2018 and 51 sales this year.  A surprising statistic is the significant reduction in inventory.  Listing inventory is down 15% YTY.  There are only 39 homes available. What are the implications?   Market constriction will likely bolster house values and make land, which has yet to recover from the 2006 recession, more intriguing. 

Nearly 60% of Kent sales this year have been below $400K.  The $400K-$1MM range earned 30% of the market transactions while 10% (5 sales) trans...

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Bain Real Estate 2019 December Spectacle Lakes Market Report.

Dear Neighbor,

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As we close out 2019 it is interesting to see how the year in Kent and area real estate unfolded. Sales, year over year proved consistent from 2018 to 2019 with 49 closings in 2018 and 51 sales this year.  But the real surprising statistic is the significant reduction in inventory.  Listing inventory is down 15%.  There are 39 homes available. What are the implications?   Market constriction will likely bolster values and are spotlighting land that has still yet to recover from the 2006 recession. 

Nearly 60% of the sales in Kent this year have been under $400,000.  The $400,000-$1,000,000 range earned...

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Bain Real Estate 2019 November Upper End Market Report

Dear Neighbor,

It's time to look at the past year to see what happened to the upper end market.  This letter is an update of the activity between October 31, 2018 and today within the context of the 11 towns we service in Northwest Connecticut. There are a lot of statistics, but they do tell us things about the market. 

The market is strong even though there are still 196 properties over the $1M mark that have not yet sold.  Note the average sale price continues to grow and the average days on market is up by almost 37 days.

Salisbury and Washington had the best year with the most sales with Roxbury in third place.  Washington again has the most unsold properties on the market for the last 6 years.  It is also interesting to track the progression of both listings and sales in each town to...

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