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August
31

 

Dear Neighbor,

Real estate sales during the last two years have outstripped houses available for sale resulting in a dearth of listings for people desirous of moving to Kent.

Because of this imbalance we have some buyers and 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. That said with the confluence of inflation, lack of inventory, increased mortgage rates, and Covid concerns waning, there is a slight pause occurring in the market.  Hopefully, this breather will allow some restocking of houses and a more balanced market.

Kent registered 46 sales in the last 12 months. This is 34 fewer home sales than in 2021. This dramatic drop is not due ­­to a lack of interest, but lack of inventory.  Ther­­e are 4 homes in contract presently and only 13 available to purchase. Despite fewer listings, purchasing desire is strong, sales are brisk and competition is fierce.  Here is what has transpired:

40 Highland Rd                                 10/19/2021                  $435,000

This 3 bedroom contemporary on 1.6 acres offers a covered front porch that frames the main entrance which opens to the front foyer and a deck off the kitchen can be used for outdoor dining. The house includes a formal dining room and an oversized living room with a main floor primary bedroom suite. Upstairs, two well-sized bedrooms share a full bath.

69 Mountain Rd                                3/8/2022                     $450,000

This was a private sale of a one-level ranch-style home measuring just over 1,000 sq. ft. of space. Built in 1981 this home sits on 26 acres and offers 3 bedrooms and 1.5 baths.

4 Eber Rd                                          9/10/2021                    $400,000

This home is a 3 bedroom, 2.5 bath with modern amenities and natural rock outcroppings making for a unique landscape. The home has a new kitchen including granite counters and lighting, plus a new roof added less than a year ago. Upgrades include new septic in 2008, an electric upgrade, a new water pump & holding tank in 2007. Additionally, it comes with two decks and a screened porch that overlook Hatch Pond.

3 Camp Flats Rd                               3/30/2022                    $1,095,000

Stone pillars flank the driveway entrance to this 1800's converted antique dairy barn. With 4 bedrooms and 3.5 bathrooms, this 4500 sq. ft. house has antique beams, wood floors and a stone fireplace.  An in-law or guest apartment can be kept as is or incorporated into the main living spaces. The 7 acres are park-like with mature gardens and beautiful trees. The pond is fed by a free running stream and the back terrace overlooks the in-ground, gunite pool.

310 S. Kent Rd                                  1/28/2021                    $433,000

A 2,500 sq. ft. colonial with 5 bedrooms and 3 baths sold privately.  The house maintains a corner lot of .42 acres.

315 S. Kent Rd                                  2/2/2022                      $155,000

This one-level 3 bed, 2 full baths Cape Cod style home sits on a 1 acre lot was built in the 1940's and has over 1,700 sq. ft. of living space. The large living room has built-in cabinets, bay window, and hardwood floors. The kitchen opens to a beautiful bluestone patio.

10 Lafontan Rd                                 8/9/2021                      $485,000

My partner David Bain sold this well-maintained, 3 bedroom home built in 1990. Located on a private 1.5+ acres the home has over 2,200 sq. ft. of space. The living room is highlighted by post-and-beam ceilings and hardwood floors. The kitchen includes custom cherry cabinetry, a soapstone sink, countertops, a maple butcher-block island, and is finished with stainless steel appliances. The finished lower level includes a media room with a wood stove, guest bedroom with a full bath, and a home office. There is a custom 20x16 barn installed by a local craftsman from locally sourced white pine.

9 Old Stone Rd                                  1/27/2022                    $500,000

A neighbor purchased 7.46 acres of land in a direct sale.

188 Bulls Bridge Rd                          3/23/2022                    $306,000

A 3 bedroom home built in 1965 sold entailing 3 bedroom, 1 full and 2-half bathrooms in 1,248 sq. ft. of space. The dining area opens to the kitchen and a doorway beyond leads to a spacious screened-in porch. The 1 car garage can easily be converted back into a 2 car garage. Potential living space on the lower level includes a large heated room with a fireplace, and an additional room with a half bath. Set well off the road, this level lot is just under an acre of land.  

184 Bulls Bridge Rd                          8/2/2021                      $335,000

This 1800's upgraded farmhouse home has 2 bedrooms and 1 bathroom. There is a generously sized eat-in kitchen with granite counter tops and exposed wood beams. The house has hardwood floors throughout and plenty of storage. The level .49 acre lot offers outdoor entertaining. A new roof and new septic were installed in 2015.

171 Bulls Bridge Rd                          10/4/2021                    $1,250,000

Sited on 5 acres, this custom 4 bedroom Colonial offers sunset views to the west.  Built in 2003 this 3,200 sq. ft. modular home includes a heated in-ground pool, spa, and 3-bay garage. The walk-out lower level could be finished into a home office or gym. There are solar panels on the roof generating considerable energy.

 

We hope you are well and keep strong spirits. We feel so fortunate to be here, continuing working and thriving in this very curious time. Thank you.

And if you are considering selling this seems to be an unprecedented time to capitalize. Call us for a free assessment of your house, office or condo. Or stop by the office or visit our website at www.bainrealestate.com. 

All the best!


Chris Garrity                                                        

Chris Garrity & Associates-David Bain, Debbie Bain, Toni Soule, Erin Hull, Amy Danis, Amy Longley, Elisa Waysenson & Heidi Kearns

 

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

 

November
7

 

Bain Real Estate 2018 November Market Report.

PLEASE CLICK HERE TO SEE THE MAP

Dear Neighbor,

           

            Have we reached equilibrium between buyers and seller since the Great Recession? Yes, the ensuing ten years values have improved with buyers returning to the market; returning however with a tempered desire to purchase. Sensing caution sellers began lowering prices incrementally and making it more appealing to the buyers. As the economy strengthened buyer confidence did in turn. So, growth has ensued.  A cautionary approach should be taken however, as daily the volatile swings in the world and nation are having considerable influence on buyers' confidence.

            In fact, on the upper end of the value spectrum, the sales have not been as brisk with downward pressure on houses over $1MM.  Owners who over the last 10 years invested in upgrades to their homes have not seen much if any return on that investment. This issue is not solely a Litchfield County concern as we see this depreciation of the upper end of the market in other areas of the state as well. 

            Below is the data from 2006, the height of the market, showing an average sales price of $475,000 (rounded) on 53 sales. The second box (Oct. 2017-Oct. 2018) shows 50 transactions with an average sales price of $675,000 (rounded). For additional perspective, the average market value from October 2010 through 2011, which was the statistically low point of the market, was $393,845 on only 32 sales.

            The sales volume of the last 12 months versus 2006 is awfully close as well. And both periods show that the Days on Market (DOM) are also nearly identical. Presently there are only 45 homes (statistically low) on the market and 3 properties in contract.  A number of properties have sold directly without market exposure that has not figured into this data.  Clearly the local real estate market has returned to a much healthier level from the low points of the local real estate market.

 32 Mountain Road–Sold $2,550,000

Set into a hillside this architecturally designed home has long views and an open floor. The main floor master has hers and his baths and walk-in closets.  There are 4 nicely separated bedrooms each with bath. Completely custom details including a copper roof, refined cabinetry, and oversized glass door walls open to the west-southwestern views to capture maximum natural light. A coveted kitchen built with style is even better for cooking.   A huge screened porch opens to an outside dining terrace. Top-shelf mechanicals with radiant heating that can be set anywhere with a Smart Phone. The property was on for over a year with a price reduction and sold 30% less than its original asking price of $3,695,000.

 

21 Highland Road- Sold $360,000

This 3-bedroom, 2.5-bath home is privately sited on 1.5 acres. Hardwood flooring and an open floor plan grace this 2,331 sq. ft. Cape. A native fieldstone fireplace anchors the living room. The center-island kitchen has granite countertops, a roomy pantry and plenty of cabinet space. Sliders open to a private screened-in porch for outside enjoyment. A generous master suite includes a walk-in closet, and large soaking tub. Two additional bedrooms have vaulted ceilings and share a full bath. Oversized attached garage has a 14-foot ceiling and additional access to basement. This house was listed for $369,500 and sold within 72 Days for less than 2%.

 

  176 Bulls Bridge Rd–Sold $650,000

Charming 1940's 3 Bedroom Cape style home sited on a park-like14-acre parcel.  The house maintains a first floor master suite and a fireplace in the living room. There are two additional bedrooms on the upper level and a large screened porch. The gardens and mature native trees envelop the pool and barn.  This house sold privately for $650,000.

There are a few other offerings in the neighborhood and town so to keep in touch with these happenings or other areas in the NW Corner, visit on our website, www.bainrealestate.com or see us on Facebook.  This letter and the others we write are posted there as well.

Cheers,

David Bain, 

Chris Garrity

& Associates Toni Soule, Marilyn DeVos & Scott Harvey of the Kent office

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

August
1

PLEASE CLICK HERE TO SEE THE MAP.

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 more bullish buying sector. Interestingly the increase time it took to sell a house climbed from 167 days on average to 178 days. But this is a marginal figure.

A common benchmark of the market's health is the number of available listings. There are fewer listings on the market today (49) 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 7 homes in contract presently. There is only one residential offering available for sale in the neighborhood and this is what sold in the last 12 months.

  128 South Kent Rd Sold $280,000

This one level home with 2000 square feet offers 2 large bedrooms and 2 full bathrooms all renovated in 2007. The kitchen has been completely remodeled with high end appliances and fixtures. There is a separate family room and an attached garage. It was listed for $289,000 prior to its sale. Bain agent Dave Fairty represented the purchasers.

 

  21 Highland Rd Sold $305,000

This well cared for Cape style home with 3 bedrooms, 2.5 baths located on a private lot was listed by my associate Toni Soule. The open floor plan works great for entertaining or growing household. There is an oversized native fieldstone fireplace in living room with accompanying hardwood floors. The master bedroom has a full bath and is located on the second floor with 2 additional generous sized bedrooms that share a full bath. There is a full dry basement that served as a workshop and has potential for added living space if needed. Home is tucked away on 1.5 acres. It had been listed for $325,000 and sold within 31 days of being on the market.

Up atop Mountain Road on the east side of the hill The Kent Land Trust purchased a 13 acre parcel for $121,000. Creating even more space for wildlife adding to their Bull Mountain holdings, this acquisition only further ensures that the rural feeling of the neighborhood will be preserved.

  322 South Kent Rd Sold: $238,000

This light filled colonial farm house needing some updating offers 1984 sq. ft. with 4 bedrooms and 2 full bathrooms. There is a formal dining room and a living room with a fireplace. There are original 1900 hardwood floors through out the house. There is a large barn and a shed on this 3.1 acre level parcel. Views of pond can be seen and there is a classic country front porch. This home had been on the market for many years and most recently has been undergoing a complete renovation.

  11 LaFontan Drive Sold; $275,000

This 4 Bedroom 3 Full baths on private, level lot has an added large bonus room on lower level opens up to a sizeable yard. There are vaulted ceilings and new flooring in both the dining and diving rooms. In-law capabilities on lower level with bedroom, full bath with new vanity and tile and separate access. The 1320 square foot raised ranch was built in 1989 and has 1.74 acres.

   184 Bulls Bridge Rd Sold: $211,500

This 1800's antique Farmhouse has been gently updated. Generously sized eat-in kitchen with granite counter tops and exposed wood beams. It offers a large family room with period details and a master bedroom with ample closet space. There is a second bedroom, plus an additional attached office space. Hardwood floors throughout the house combined with considerable of storage. The nearly half an acre lot is level and has mature landscaping.

Lastly, 237 Bulls Bridge Rd. is a 352 square foot cottage offering one bedroom and a small kitchen, bath and living room. This petite home sits on a level third of an acre of land and sold for $65,000.

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.

 

David Bain

Chris Garrity

And the Kent Office-Toni Soule, Dave Farity, Marilyn DeVos, Eve Iselin & Scott Harvey

 

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

April
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

SPRING? Yes, the vernal life is slowly emerging after that oh so snowy and long winter.

And over the last 12 months we have seen the same slow season-like change in the real estate market. Many of the properties under pressure from the economic turndown are being sold leaving more market valued homes to compete for buyers.

Nationally the growth of values in many regions is palpable. The Northeast has been slower than other parts of the country and locally the values are tightening.

Selling time has dropped to 6 months (5-7 months indicates a normal market). We had had another productive year with very strong sales, so thank you.

There are presently 55 homes and 16 parcels of land on the market in Kent which is slightly more than we had a year ago. There were 34 residential sales in the last twelve months slightly better than the 12 month prior (28). And 3 land sales.

Yet while market confidence grows, the number of prospects is still rather low. Historic residential sales transactions in Kent average around 35 transactions annually, so enticing the interest of the buyers' means proper pricing is paramount. There are presently only 6 residential properties in contract to sell in Kent. Simple truism is that a well priced property gets the buyer's attention and gets the sale. Let's see what sold!

Here is what transpired in the neighborhood:

Over on Highland Road I sold an 8.55 acre parcel with a barn, well and views to the west that was listed for sale at $129,00. This attractive building lot with mature trees and considerable road frontage closed for $90,000.

At 21 Highland Road Toni Soule of my firm has listed a wonderful country cape style home set on 1.52 acres of private land. This custom country home has an open floor plan, oak flooring and a large stone fireplace. There is a spacious screened porch and oversized two car garage. Complete with 3 bedrooms and 2 and a half bathrooms this home is listed at $325,000.

50 Spooner Hill Road may sound familiar. This parcel was a former field once owned by the Vagts family that entails 21 acres of overgrown pastures, stone walls and distant views north into the village of Kent. The land was accessed off a long gravel driveway to a level site and those dramatic views. It was originally listed for $850,000, dropped to $775,000 and sold for $650,000.

Directly next door at 56 Spooner Hill is a well designed custom Craftsman styled home with long views. Set on 20 acres of open land and outlined in stone walls, this 2008 home has 3 bedrooms and 3 and a half bathrooms. The home is detailed in lovely wood paneling and flooring. The house entails over 4000 sq. ft. with rooms all facing the views to the north. There are two well appointed master suites each on a different level. Originally listed for $2,350,000 the home closed at $1,745,000.

Real Estate never lacks for interesting properties and we have one on the west side of Hatch Pond. Step back a hundred years and imagine a lake retreat with access only by boat. It's a seasonal family retreat, a place for fun memories to be created. Lake water is pumped up to a holding tank that gravity feeds the house for personal use. Propane gas heats the water and cools the refrigerator. Kerosene lamps provide night light and a generator is included if some electricity is needed. It will be someone's idle setting and lifestyle at $160,000.

Down overlooking Hatch Pond at 261 South Kent Road is a lovely 1950's Cape styled house that was first listed for $285,000, reduced to $249,000 then $199,000 with an eventual sales price of $196,500. This house has 1936 sq. ft. with 3 bedrooms and 3 bathrooms. Set into the hillside, the western views across the pond are nice. There are wood floors a fireplace and of course large windows opening onto the view.

311 South Kent Road is a wonderful family home that has 2 bedrooms and 2 bathrooms in nearly 2000 sq. ft. of space. With wood floors, a formal dining room and living room, this home was owned by the bank and the buyer, with guidance from our agent Toni Soule, acquired a lovely home that requires some upgrades for $149,000.

At 341 Kent Road Toni Soule of my firm has listed the perfect family home. 3 bedrooms, oak floors, fireplace in the living room and large eat-in kitchen all make a warm environment. There is also a sun room for winter warmth and summer enjoyment. The fenced gardens are special with specimen trees front and back. The 2 acre lot is level and sunny and offers room for expansion. Listed for $240,000 it is a great starter home.

Chris and I, along with our whole 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 8 years.

Happy Spring!

Respectfully,

David Bain

Chris Garrity

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

 

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

   

         

This graph shows the number of successful transactions

in our key towns of Cornwall, Kent and Sharon in 2014