Posts made by author 'David Bain'

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 Cornwall from NYC, swelling our schools, absorbing our housing inventory and pushing our values to levels not seen in a long time, if ever. 

All of this has some buyers and many more sellers on the sidelines waiting.  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.

In the whole of Cornwall there were 28 property sales in the last 12 months, 8 of those were land sales and 7 were over $1 million! The previous 12 month period saw 55 property sales with 12 land sales and 10 properties sold over the $1 million mark. Going back a third year when we were moving in...

Click Here to Read More...

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...

Click Here to Read More...

Bain Real Estate 2020 January Studio Hill and Cobble 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 the marke...

Click Here to Read More...

Bain Real Estate 2019 December Segar Mountain Market Report.

PLEASE CLICK HERE TO SEE THE MAP

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...

Click Here to Read More...

Bain Real Estate 2019 December Spectacle Lakes Market Report.

Dear Neighbor,

PLEASE CLICK HERE TO SEE THE MAP.

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...

Click Here to Read More...