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February
26

 

Bain Real Estate Kent Route 7 South 2019 March Market Report.

 

Dear Neighbor

PLEASE CLICK HERE TO SEE THE MAP

 

Litchfield County's real estate values have grown nicely since the Great Recession ten years ago. As the economy has strengthened, buyer confidence has in turn responded positively; so growth has ensued. Hence, in 2017 we saw 36 sales in Kent and in 2018 we had 41, a slight improvement. A cautionary approach is advised, however, as the local, state, national and even global issues affect consumer confidence and the winds could blow in a different direction tomorrow!  

 

We are seeing this fickleness manifest at the upper end of the market, as the sales have not been as brisk as the mid-range. This past year, Kent had only 4 sales over $1MM or less than one percent of the all sales. 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 county and state as well. 

 

Offerings are limited with only 38 homes currently available and the question is whether this scarcity solidifies values or turns buyers off. There are 2 home sales in contract presently in Kent.

 

Since I last wrote, we have been busy listing and selling. I am happy to report that Bain Real Estate sold two of the four sales in your neighborhood.  Of these sales, three were bank owned and each sold incredibly quickly.  Here they are:

 

86 Kent Road is a cozy riverfront ranch style home on one acre.  From this 1800 sq. ft. home Housatonic River and mountainside are seen. There are 5 spacious rooms including an eat-in kitchen, living room with fireplace, dining area and 2 bedrooms. There is a one car detached garage. This home was bank owned and had been listed for $184,900.  But it was well priced and lasted only 15 days prior to an accepted offer and selling over asking price of $192,536.  

 

18 Birch Hill Lane was also a foreclosure and in need of some updating when it sold. This 1943 ranch style home offers 1200 sq. ft. and has a half an acre of land high on the banks of the Housatonic River.  It features 3 bedrooms and 1 full bathroom. There is a sizeable living room with stone fireplace, large eat in kitchen, formal dining room and attached 1 car garage. It lasted 7 days on the market and while listed for $110,000 it closed higher at $117,050.

 

209 Kent Road is another foreclosed property that sold this year. Set well back off the road, this 3 bedroom, 3-bath Colonial built in 2007 has 2.3 acres. The layout is open with a large kitchen featuring granite counters and hardwood floors and sliders leading to a patio. There is a fireplace in the living room as well. 3 full bathrooms all have marble and granite counters plus tile floors. The master bedroom has hardwood flooring, walk-in closet and full bath with tub and glass enclosed shower. The 9 Ft ceilings on main floor make the rooms larger. The house offers 1844 sq. ft. with large windows overlooking the grounds terraced with stone walls. 2 car detached garage with 900 sq. ft. loft. Toni Soule of my office found the buyer who paid $335,904 off an asking price of $349,900. Again as with all well priced houses this only lasted 31 days on the market.

 

We sold 30 Valley View Road! This renovated barn was originally located in the village of Kent and in the 1980s was assembled on this 2.92 parcel of land.  Now with its easy open floor plan it's great for entertaining. There are 3 bedrooms, 2 full baths, a kitchen with terra cotta tile floors and stainless steel appliances. Antique hewed beams are accentuated by vaulted ceilings. There is a cozy wood stove and skylights brighten both the rooms and the patina of the old wood flooring.  There is a game room that opens to a stone patio and a sunroom with a bank of windows leading outside to an oversized deck. It sold for $378,000 from a list of $399,000.   

 

There are other offerings on the market and if interested call us, stop by the office or visit our website at www.bainrealestate.com.   One can find not only listings and sales but also this letter and all other Kent neighborhood letters archived on our site too. And if you wish to follow our blog for new listings, sales and other interesting real estate tidbits join up from our website. 

 

All the best,

David Bain &

Chris Garrity-

Toni Soule, Marilyn DeVos, David Hurlburt, Scott Harvey, Karen Grimaldi, Michele Pastre,

Asher and Priscilla Pavel

 

 

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

 

 

 

 

December
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

The path back to a more balanced market is no longer just a light at the end of the tunnel. There is a small pool of buyers who are serious and will purchase, if the right house and value coincide. There is still more property supply than buyer demand, but the number of offerings is being sold off at a better pace than sluggish. In fact we are seeing a tightening of inventory which helps solidify market values.

 

Here's our annual neighborhood real estate report detailing the real estate activity in the last 12 months in the Route 7 south neighborhood of Kent. In the last 12 months there have been 40 residential sales in Kent compared to 43 the previous 12 months showing a consistent selling volume and an increase of nearly 10 more sales per year over a three year period.

A common benchmark of the market's health is the number of available listings. There are fewer number of properties on the market today (41) than a year ago (51). We have been trending on a decreasing plane as newer home offerings are not coming to the market with the regularity they had in the last 10 years, and, put simply, a balanced supply and demand create a more normalized market. Also telling is the fact that there are 11 homes in contract presently. Here is what has happened in town.

 

Date Sales Av. List Price Market Time Av. Sales Price

2013-14 24 $661,033 139 Days on $602,718

2014-15 43 $530,085 192 Days on $486,113

2015-16 41 $494,285 165 Days on $461,861

So here is what has transpired in your neighborhood:

We start in the southern part of the neighborhood where my partner, Chris Garrity, has 171 Bulls Bridge Road listed for sale. Long vistas to the southwest over fields and hills into New York State offer a great home sited on 5 open acres. Great privacy as abutting neighbors are Bulls Bridge Golf Course and a large farm. There are four generous bedrooms on the second floor and considerably spacious common rooms on the main level and two bathrooms. The country kitchen opens to a large covered porch which is perfect for evening meals or morning coffee. There is a formal dining room and an open family room with a bank of windows and wood beams. The living room features a stone fireplace, wood flooring and 9

foot ceilings. There is a pool, three car garage with ample storage and a second floor that can be converted as well as a voluminous basement plumbed and ready for conversion. It is listed for $1,399,000.

Just down the road 184 Bulls Bridge Road is an 1800's Farmhouse that has been nicely updated. Generously sized eat-in kitchen with granite counter tops and exposed wood beams plus a large family room with period details. There is a nice master bedroom with ample closet space. A quaint second bedroom, plus an additional attached office space could easily be converted into a desirable walk-in closet. Hardwood floors throughout and plenty of storage is available. There are 1242 sq. ft. of living space and the lot is slightly less than a half acre but is level and well planted. It sold for $211,500.

Toni Soule of my firm listed this wonderful1859 hand-hewed hay barn, which is now an impressive 3 bedroom 3.5 bathroom country home at 255 Kent Road. Exposed beams and beautiful hardwood floors blend nicely with modern amenities and creature comforts. There are large windows help make the floorboard's patina glow with sunshine. The stainless steel appliances and antique styled cabinetry create an updated effect. There is wood stove that heats the open barn space quite well. Two en suite bedrooms, balcony, workshop and additional bedroom provide ample space. It closed for $305,000.

Toni also has another renovated barn with loads of charm and sophistication at 40 Valley View listed for sale. With an easy open floor plan the house is great for entertaining and family get together. Three bedrooms, two full bath, kitchen with tile floors and stainless steel appliances all in 2488 sq. ft. The exposed antique beams and wide board floors are highlighted by soaring ceilings and skylights which give the old barn a new and dramatic feel. Game room with loads of light leads outside to the barbecue area. 3 season porch and oversized deck for those cool summer nights. The private 2.92 acre parcel is level and detailed in stone walls. It is listed for $399,000.

A super cute cottage on a level parcel of woods with view potential is available at 231A Kent Road. This 609 sq. ft. bungalow is simple to operate and easy to maintain. The main room has a native stone fireplace and wood floors. There are new windows and an updated kitchen. Additionally there is a dining room, screened porch and full bathroom. Set on 4.38 acres, this perfect spot for one person or a couple seeking a getaway was listed with Chris Garrity for $120,000 and sold for $90,000.

201 Kent Road is an 1800's antique eyebrow colonial home that was moved well back from the road and renovated in the 1940's. From its gracious perch on over 4 acres the house has sweeping views across the tree dotted lawn to the peaceful Housatonic River and the hillside beyond. This well appointed 1662 sq. ft. home features a paneled living room with fireplace, detailed moldings, cornices, doorways and windows. There is a large family room, formal dining room, an eat-in kitchen and full season porch. Plus the lower level offers an artist studio with a half bathroom. There is a heated pool surrounded by lovely gardens. Updating of baths and kitchen would make this even more splendid. Generator and air conditioning system makes this antique home a bit more comfortable. It is listed for $305,000.

171 Kent Road is lovely undeveloped parcel of land with nearly eight acres of open field and woods. It is protected on two sides by land held by the Kent Land Trust. With some cutting west and southwest vista can been had. One can build on the level meadow or higher up on the hillside. There is a shared private road and a rough driveway on site. It is listed for $130,000 with Toni Soule.

Toni Soule sold 4 Lee Circle where at the rear of this country home westerly views over the Housatonic River Valley can be seen. The master bedroom-bath suite and balcony deck are on the main level. The living room has a fireplace with a pellet stove insert, dining room, family room all with cathedral ceilings. The kitchen is roomy enough for a table and features granite counter tops. There is a finished lower section has a walk-out to the patio. The attached 2 car garage provides covered entrance to the kitchen. Saddle Ridge Farm includes the Association tennis courts and is surrounded by 100+ acres of Kent Land Trust. It sold for $385,000 two weeks ago.

Dramatic southern views of open pastures and the Housatonic Hills can be seen from this 1992 Cape at 9 Conboy Heights. Considerable room and light, including a spacious living room/dining room that leads to a deck and the views. The home offers an eat-in kitchen with radiant floor heating. There are 4 bedrooms, including one master en suite on the main floor, and 3.1 baths. An office space, 2 additional decks, a finished walk-out lower level and a two car attached garage are also included in the 2507 sq. ft. The .709 acres feature lovely perennials and landscaping. Part of Saddle Ridge Farm includes number of amenities like access to shared tennis courts. This home sold for $375,000.

10 Angel Vista is a sun-splashed 4 bedroom, 4.5 bath Colonial with 2600 sq. ft. There are lovely long western views over Housatonic River Valley. Wonderful features such as a spacious living room with cathedral ceiling, fireplace, and French doors out to a large deck and pool. The Master Suite has a marble bath, sumptuous walk-in closest and dressing area. The lower level is partially finished with a full bath and additional washer/dryer that is used for the pool. It sold for $575,000.

There are a number of properties on the market in Kent so if you wish to see any of them, or have someone who might be looking, give us a call.

Respectfully,

David Bain

Chris Garrity & Kent office-Toni Soule, Marilyn DeVos, Dave Fairty & Scott Harvey

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

October
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

 

It is so great to be living here. The leaf peeping season is upon us and while it may be a bit too dry, hikers come back to Bulls Bridge to see the cataracts and walk the trails in our hills.. It is also that time again for our annual neighborhood real estate report detailing the activity in the last 12 months. Wow, we are fortunate as the wonderful summer day's shift into lovely autumn splendor.

This same shift seems to be the real estate mantra. Confidence continues to be the main factor in the solidification of values. While there are daily occurrences of uncertainty, the national economic trends are faring well.

The local real estate market has been very robust. We saw a strong 4th quarter in 2014 with 11 sales, a fairly brisk first quarter of 2015 with 10 transactions and a third quarter 2015 boom with 14 properties selling. That trend continues with 7 sales in the last month and a half with 8 homes presently in contract to close before the year's end. Kent is on track for a very strong year of over 50 sales.

With increased optimism and more sales, sellers who have been on the sidelines for the last 6 years are coming into the market. There are more listings on the market today (80) than last year at this time (73), a 8.5% increase. So, as the market becomes loaded with homes, the downward pressure on prices increases. We are already seeing this manifest in our listing to closing ratios.

Date Sales Av. List Price Market Time Av. Sales Price

2012-13 28 $ 553,579 199 Days on $ 494,927

2013-14 27 $ 813,852 146 Days on $ 740,189

2014-15 42 $ 482,742 165 Days on $ 449,532

So here is what has transpired in your neighborhood:

Just south of the Village of Kent two buildings at 27 Kent Road sold on a .52 acre parcel of land. One building maintains commercial use while the other is a residence. The 1800 sq. ft. commercial building offers a one level large open room. It has been an office and a retail store for motorcycles. The 3 bedroom, 1 bath home has nearly 1300 sq. ft., wood flooring and a fireplace. The property sold for $256,000 last month.

Eve Iselin of my firm found the buyer of 16 Birch Hill Lane which was listed by our newest agent Dave Fairty. With just over 1000 feet of living space, this home is in impeccable condition. There are two bedrooms and an updated bathroom. The kitchen has been completely renovated and has new appliances. The level yard is fenced and overlooks the Housatonic River. Set on a third of an acre this home sold for $163,000 in multiple bids.

On the west side of the Housatonic River a 2 bedroom cottage with a separate guest cottage sold for $280,000. Having been listed for years, the house has 1716 sq. ft. and is nicely updated. Set well off the road and wedged between two waterfalls this is a lovely weekend escape at 250 Schaghticoke Road.

A super cute cottage on a level parcel of woods with view potential is available at 231A Kent Road and is listed by my partner Chris Garrity. This 609 sq. ft. bungalow is simple to operate and easy to maintain. The main room has a native stone fireplace and wood floors. There are new windows and an updated kitchen. Additionally there is a dining room, screened porch and full bathroom. Set on 4.38 acres, it's perfect for one person or a couple seeking a getaway from the world for $120,000.

With 3,400 sq. ft. the house at 19 Valley View Road took years to sell. The bank owned property had been neglected and finally sold for $201,500. Set on 4.25 acres of wooded land the house has 4 bedrooms and 3 full bathrooms. The kitchen is large and drops down to an open family room with a fireplace. Built in 1986 the house also has an attached 3 car garage.

25 Valley View Road is a 3 bedroom, 3 bathroom home built in 1990. This 2,874 sq. ft. colonial farmhouse has 2 fireplaces - (living room & master bedroom), an open foyer, kitchen with newer appliances plus a master bedroom suite including a whirlpool tub and double vanity. The lower level has 675 sq. ft. with an exercise room and large office. There is also a large deck off the family room and covered front porch; all opening to a level yard of 2.35 acres. It sold for $350,000.

Just beyond Bulls Bridge Inn at 341 Kent Road Toni Soule of my office listed and sold a wonderful family home with 3 bedrooms, oak floors, fireplace and large eat-in kitchen. There is a sunroom just off the kitchen, perfect for winter warmth. The land is special and quite a large 2 acre lot with herb, flower and vegetable gardens alongside fruit and specimen trees. It needs a little updating but this property listed at $240,000 closed for $235,000.

Around the corner at 237 Bulls Bridge Road a 352 sq. ft. cottage on .3 acres sold for $65,000. This sweet, two-room one bath home is on a level lot and in good condition. It sold privately.

Up on Spooner Hill, Toni Soule also closed on 21 Highland Road. This custom constructed home is tucked away privately upon 1.52 acres on a little traveled town road. Featuring 3 bedrooms, 2 and a half baths, this country farm house has a wide porch to sit, spacious living room with field stone fireplace and a screened porch off the dining room. It closed for $305,000 in 31 days.

Lastly, Dave Fairty assisted the purchaser of 128 South Kent Road. Completely remodeled 5 years ago this 2000 square foot, one level home has 2 bedrooms and 2 full bathrooms. The living room and kitchen are one large open room with a fireplace, cathedral ceilings and gourmet kitchen with granite counters and custom cabinetry. The house also has a separate studio and office. Listed for $289,000 it closed for $280,000.

There are a number of properties on the market in Kent so if you wish to see any of them, or have someone who might be looking, give us a call.

Kent continues to thrive and the autumn colors are the best we've seen in years. So enjoy!

Respectfully,

 

David Bain

Chris Garrity

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

 

This graph shows the number of successful transactions

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

 

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