Posts in category 'North Kent Brookwoods'

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 Brookwoods and North Kent 2020 January 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...

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Bain Real Estate North Kent and Brookwoods 2018 October Market Report.

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Have we reached equilibrium between buyers and seller after 10 years?   From the bottom of the market to today there has been a slow, arduous climb of local real estate values.  In the ensuing ten years values have improved with buyers returning to the market; returning however with a tempered desire to purchase. Sellers in turn reacted by lowering ask...

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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 North Kent neighborhood.

We saw 11 more sales year-over-years suggesting a more bullish buying sector. That said winter was milder this year so a seasonal effect may also figure in this bump in sales. Interesting is the increase time it took to sell a house climbing from 149 days on average to 215 days.

A common benchmark of the market's health is the number of available listings. While there are only slightly fewer listings on the market today (53) 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 8 homes in contract presently. There are only 5 properties available for sale in the neighborhood and these are the three that sold in the last 12 months.

321 Kent Cornwall Road

I sold my house, a completely renovated wonderful old colonial, featuring a gourmet kitchen, a formal dining room, cozy fireplace in living room with a large window seat looking out over to distant western views. The large deck is off living room and overlooks both the gardens and the view out over 8000 of protected acres. There are 5 large, light filled bedrooms, with the master suite located conveniently on ground floor. The grounds offer stone wall laced gardens, private pool with waterfall, out door shower, tumbling brook and spacious lawns. Listed for $535,000, it sold for $450,000 after spending 279 days on the market.

  Unit 30 Brookwoods

This Saltbox Style home is in impeccable condition with an open floor plan, renovated kitchen, fireplace in the living room and wood flooring throughout. - This contemporary saltbox has cathedral ceilings in the kitchen, sunroom, first floor bedroom and bath. Kitchen and sunroom also feature a breakfast bar, skylight and ceiling fans. Living and dining rooms each have fireplaces. It closed at $250,000 after 301 days on the market at $290,000.

12 Dugan Road

Cozy and privately sited cottage complete with hardwood floors, a wood burning fireplace, built-ins, country kitchen, full basement, and a wrap-around deck. Living is all on one level for easy living in this three bedroom one and a half bath home on 2 acres. This house had been on and off the market since 2010 and was listed as high as $375,000. In its last listing iteration it was listed for $237,000 and sold in125 days for $210,000.

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.

Happy Spring!

Respectfully submitted,

David Bain

Chris Garrity

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

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

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Dear Neighbor,

The 30 sales transactions in Kent in the last 12 months is only slightly more than last year's tally of 27. There were three sales in the neighborhood and we are proud to say Bain assisted in them all!

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.

Moreover, the national economy is growing healthier providing a more confident buyer pool. We are seeing a very strong upper end of the market fueled by capital that is seeking hard assets, like real estate, in which to invest. It is the main reason we are seeing cash deals for multi-million dollar estates during...

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