Posts in category 'Segar Mountain'

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 Kent from NYC, swelling our schools, absorbing our housing inventory and pushing our values to levels not seen in a long time, if ever.  The result is a market today with only 9 homes available where normally 35-40 should be up for sale. And there are only 9 parcels of land offered. The flip side is the 20%-30% increase in values has sellers buoyant and buyers scrambling with rents soaring as well.

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

Kent registered 53 sales in the la...

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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 Kent Segar Mountain 2017 May Markt Report.

Dear Neighbors,

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Spring has shaken off winter's grasp and so the real estate market!  After the 10 year real estate slumber the market appears to be awakening.

2016 was clearly a pivotal year in real estate.  Nationally real estate sales transactions were up 12% over 2015 figures.  Litchfield County overall saw just over 8% increase. Locally we have seen a similar bump resulting in the volume of sale increase around 14%! In summation, real estate in Kent is on a steady upswing as the market recognizes good values.

The positive economic confluence of lower unemployment, strong trends in the financial markets and t...

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Bain Real Estate 2018 October Kent Segar Mountain Market Report.

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Dear Neighbor,

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 asking prices making it more appealing to the buyers. So, growth has ensued. 

2006 was arguably the peak of the market prior to the Great Recession. Below is the data from 2006 showing an average sales price of $475,000 (rounded) on 53 sales? The second...

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The first two quarters of 2016 were promising in terms of real estate transactions. There were 46 in the last year in Kent and 25 sales in the last 180 days. It seems the summer slumber has taken hold as buyer activity is slowing.

There is a small pool of buyers who are serious and will purchase if the right house and value coincide. Generally speaking the buyers are more attracted to homes that are well cared for with little work to be done. The better condition and the newer the upgrades to the house, the easier it is for it to sell.

There is still more property supply...

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