Posts in category 'The Cobble And Studio Hill'

Dear Neighbor,

Summer of '22 is upon us and we are all attempting to get back to pre-pandemic days. Sales during the last two years have outstripped available houses for sale resulting in a dearth of listings available for people desirous of moving to Kent.

Because of this imbalance we are seeing 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. It is a seller's market, but one should sell only if one has a place to move.  We predict this new paradigm will be here for a number of years.

Kent registered 48 sales in the last 12 months. This is 34 fewer home sales than in the 2021. This dramatic drop is not due to lack of interest, but lack of inventory.  There are 10 homes in contract presently and only 8 available to purchase. Despite fewer listings, purchasing desire is strong, sales are brisk and competition is fierce.  Here is what...

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

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Bain Real Estate Studio Hill and The Cobble 2018 October Market Report.

Dear Neighbor,

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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 asking prices making it more appealing to the buyers. So, growth has ensued.  A cautionary approach should be taken however, as daily the volatile swings in the world and nation have direct impact on buyers' confidence.

2006 was arguably th...

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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. In fact your neighborhood has seen the most sales in the last 12 months. There is still more property supply than buyer demand, but the number of offerings is being slowly chipped away.

43 Residential Homes in Kent sold 2015-2016

There were 11 transactions in your neighborhood. Here is what is going on.

We saw 11 more sales year over year 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.

A 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. Here is what has transpired in the last 12 months.

100 North Main Street- Listed for $1,200,000 since October 2015

Bedrooms:6/Bathrooms:4full 2 half

Originally built in the early 1800s this classic colonial was remodeled by Milton Raymond, an important figure in the local iron industry. Since that time this landmark home has offered gracious living at the edge of Kent's center. Upgraded in 2000 this elegant home is in top order and is large enough to house a large family or intimate enough for a few. The 11 acres of open land and high hillside offer much flexibility for further development. The large barn built in 1862 also offers multi use opportunities.

My partner Chris Garrity has listed this beauty.

9 Kent Cornwall Road- Listed: $195,000/Sold: $185,000

Bedrooms:4/Bathrooms:3full

1900's antique within walking distance to the Village with many original features in this farmhouse; wide board floors, period molding, old sink, paneled doors, two fireplaces. A gem requiring some TLC includes a barn/workshop, front porch views across to rolling protected meadow. It had been on and off the market for a number of years.

13 Kent Cornwall Road- Listed: $299,000/Sold: $291,000

Bedrooms:4/Bathrooms:3 full

This 10 year old Cape home with an attached in-law apartment has Private entrances, a porch and deck. Main section of the house offers 3 bedrooms, 2 full bath, kitchen, living room, family room, finished basement and storage. The apartment features a kitchen, living room, master bedroom suite and small office.

9 Chase Hill Road- Listed: $189,900/Sold: $179,000

Bedrooms:2/Bathrooms:1 full 1half

1108 sq/ft home that has been lovingly maintained. This home features updated kitchen w/ granite counters, hardwood floors throughout, 1.5 updated baths, central air, large screened porch, deck off the master bedroom. The home has a flexible floor plan - the dining room can be converted back to a bedroom- and there is room for a dining table in other locations. It sits on a level .50 acre, and has a 1 car attached gar with open breezeway. It was on the market for 436 days.

13 Chase Hill Road- Listed: $299,000/Sold: $291,000

Bedrooms:3/Bathrooms:1 full

Tidy 1949 Cape style home on .49 acres of level open yard. There home requires some updating but has wood flooring and 1170 sq/ft of living space. Sold directly.

30 Flanders Lane- Listed: $1,000,000/Sold: $865,000

Bedrooms:2/Bathrooms:2 full 2 half

3600 sq/ft converted antique barn set on an open field of 5 private acres. 1840's "Britton Barn" was moved to this site in 1980 from Princeton, NJ. It has an open floor plan with soaring interior space rising to a nearly 28 foot cathedral span. Mature Trees and substantial landscaping. Gorgeous antique stone walls outline the open and level property.

  5 Cobble Road- Listed: $425,000

Bedrooms:4/Bathrooms:2 full

The oldest part of this historic colonial was built in 1740 by Azariah Pratt. It was sold by his grandson to Thomas Northrop in 1797, who built the main house above. His son, Birdsey Grant Northrop, was born and raised there, and went on to become a world famous educator and botanist, nationally celebrated on Arbor Day. The house is in need of restoration, but the bones are there! Much of the original character remains: wide floor boards, 12 over 12 windows with many original panes, Bee Hive oven, and a gorgeous Palladian window. It has been listed for 3 months. I have this home listed and have good activity.

174 Cobble Lane- Listed: $895,000/Sold: $860,000

Bedrooms:4/Bathrooms:3 full 1 half

Set high above Cobble with views for every season, this 3500 sq/ft home has many extras - screened porch, 3 fireplaces, reclaimed wide board floors, cook's kitchen, pristine laundry, heated 3 car garage. The master suite maintains a fireplace and deluxe bath. Whole house generator, security system with safe heat monitor, roof warming cables, April Air system. Large field to right of house is part of the 8.71 acres. This home sold for $850,000 in 2011 and with some upgrades came back on the market in 2014 for $1,200,000 and after time and price reduction closed.

30 Studio Hill Circle- Listed: $745,000 since March 2015

Bedrooms:3/Bathrooms:2 full 1 half

Surrounded by open space, my home is a carefully architected home and is beautifully screened from both the road as well as any other house. It looks out upon protected pastures and mountains, yet it is only 2 miles from the center of town. It's a "green" house with a southern orientation, floor to ceiling windows to capture the sun's warmth, and, best of all, geothermal heating and cooling! The interior of the home is in mint condition. The master suite is on the main level. There is a new metal roof that looks just like shingles that was installed in 2014 and will last 80 + years!

44 Studio Hill Circle- Sold: $440,000 sold directly

Bedrooms:4/Bathrooms:2 full 1 half

Built in 1997 this country contemporary offers 2700sq/ft of space with refinished hardwood flooring, a cooks' kitchen with pantry and wet bar. The dining room has westerly views, living room has 18 foot tall stone fireplace, master suite is on first floor with spa like bathroom and sliders to the 25 x 55 mahogany deck, beautiful lush landscaping on 3.71 acres of woods.

17 Mountain View- Sold: $205,000 sold directly

Bedrooms:3/Bathrooms:2 full

This 1200 sq/ft one level home was built in 1991 and sits on a 2.28 acre level and wooded parcel. Light and bright with an open floor plan and wood flooring, the home is off a private road and is in good condition.

30 Halls Lane- Listed: $550,000/Sold: $425,000

Bedrooms:2/Bathrooms:2 full

From this home considerable western views are obtained across 26 acres, a pond and an open rolling meadow. The ranch house, built in 1968 has many original features in impeccable condition such as the large brick fireplace, wood flooring and large windows to take in the view. There is a large barn additionally.

42 Halls Lane- Listed: $475,000/Sold: $390,000

Bedrooms:2/Bathrooms:2 full

Circa 1933 Antique Cottage with complete privacy on 10 Acres with views and in ground pool. Locally know as "The Love Shack" this 1300 sq/ft home is secreted away up the hill and in the woods! Plus there are extensive gardens, mature trees and a small patio. Other features include exposed beams, original wood floors, bay windows, wet bar, skylights, wood shingle roof.

21 Halls Lane- Listed: $260,000/Sold: $250,000

Bedrooms:3/Bathrooms:3 full

The Octagonal house is a unique layout offering a 686 sq/ft wrap around deck and views in all directions. Built in 1999 this home has 1700 square feet on two levels. The open layout maintains wood flooring and large bank of windows. Scott Harvey and Dave Fairty of my firm assisted the buyer and seller in this sale.

7 Halls Lane- Listed: $659,000/Sold: $650,000

Bedrooms:5/Bathrooms:2 full 1 half

This inviting and comfortable, 3271 sq/ft country home is a well appointed home. Spacious and light filled main level with wood flooring throughout. Main floor master has cathedral ceiling, palladium window, spacious bathroom and closet. Renovated, modern kitchen owned by a chef. Native and ornamental trees, gardens and pond enjoyed from the front porch or back deck and patio.....30x18 Gunite pool is accessed from the kitchen and living room. Chris Garrity and Michele Pastre worked with Dave Fairty of my office to sell the house.

18 Botsford Road- Listed: $314,900/Sold: $285,500

Bedrooms:3/Bathrooms:2 full 1 half

Recently renovated 2477 sq/ft eyebrow colonial built in 1979 features a spacious kitchen, and large family room with fireplace. The dining/living rooms & screened porch are added features. The 1.7 acre parcel is a level open lot with views in all directions.

It was on the market for 133 days.

187 Kent Cornwall Road- Listed: $299,000/Sold: $270,000

Bedrooms:3/Bathrooms:1 full

Turn-key ranch completely renovated in 2014/15. Techies dream house. Cat-6 wired throughout, fully Cable/Sat wired, sound system with Sub Woofers in every room. Granite counter tops, partial radiant slate floor & all new appliances in the kitchen. Second floor offers a playroom/office space. An energy efficient home insulated with sprayed-in closed-cell foam insulation throughout. 1.1 acre yard is level and open with views towards St. John's ledges. Dave Fairty listed and sold this in 2 months.

236 Kent Cornwall Road-Listed: $495,000/Sold: $440,000

Bedrooms:3/Bathrooms:2 full 1 half

This impeccably maintained 1740 Colonial with modern conveniences has frontage on Mauwee Brook. Marriage Maple guard this 2000 sq/ft antique which offer hewn beams, aged wide board flooring and fireplaces. The spacious and well appointed kitchen, cozy living room, private study & formal dining room are all well proportioned. The property entails 4.28 acres of level lawn and woods. Chris Garrity and Debbie Bain of the firm brought the buyer and seller together.

Kent Cornwall Road-Listed: $99,000/Sold: $90,000

Building Lot

Open 3 acre parcel of land set well off Rte 7 offers views, mature native trees and fruit trees. The site has Health Department approval and is made private tucked behind a natural gravel moraine. A sizeable pond with a spillway and brook is a tributary to the Mauwee Brook. Chris Garrity listed this lot which I sold within days of listing.

Additionally the owner generously donated a 1 acre parcel on the west side of Rte. 7 which included a large stone wall, orchard and a cleared field. This lot compliments the State of Connecticut's preservation and helps make the ride up route 7 all the better. To her we thank.

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!

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Dear Neighbor,

We've had our last snow! So we happily welcome Spring especially after that snowy winter. While long, the snow was beautiful and was fun to play in. But enough of that let's get on to flowers.

Since the abyss of 2008 the real estate market in CT has slowly and consistently climbed from a 35% value loss to now 22% off the value levels of 2006. We see the same trend nationally with the points of values in many regions growing quite strong. Many segments of the economy reported more robust than average figures and overall consumer confidence is up.

Yet, the real challenge to real estate value growth is wage growth. Locally, young families face a large hurdle trying to save enough for a down payment and afford the monthly payments despite historically low interest rates.

Despite the challenges, there are positive signs in Kent. Selling time has dropped to 5 months (5-7 months indicates a normal market). And while the average sales price was down the ratio of list price to sales price was much higher in the last 12 months.

There are presently 41 homes and 16 parcels of land on the market in Kent which is about the same figure we had a year ago. There were 30 residential sales in the last twelve months, equaling the sales twelve months prior.

We at Bain had another productive year with very strong sales. We appreciate your continued support and trust.

 Here is what transpired in the neighborhood:

This 1986 3 bedroom 3 bath home is a 2 acre retreat in Cobble Valley. A dramatic floor to ceiling native fieldstone fireplace is the center piece of this 2700 sq. ft house. The private master bedroom suite is on the second floor while 2 additional bedrooms and full bath are on the main floor. Listed: $425,000 Sold : $412,000.

11 Cobble Road

This Post & beam home with 1843 sq. ft. and built in 2005 has an open floor plan. There are vaulted ceilings in the living room, plus stainless appliances and island in the kitchen. Living room opens to deck w/pergola. Two bedrooms and two baths are well done. The pastoral view of the Cobble from this energy efficient home on 5 private park-like acres is amazing. Listed for $795,000 originally then reduced to $549,000 it closed after a year on the market for $530,000.

30 Studio Hill Circle

Surrounded by open space, this carefully architected home is beautifully screened from the very quiet road as well as any other house. It looks out upon protected pastures and mountains. It's a "green" house with a southern orientation, floor to ceiling windows to capture the sun's warmth, and, best of all, geothermal heating and cooling! The interior of the home is in mint condition with 3 bedrooms with the master suite on the first floor.Recent improvements are a new metal roof in 2014, completely renovated kitchen with top of the line appliances. This is my house and my wife Debbie and I have it listed for $895,000.

187 Kent Cornwall Road

This home was one of the few remaining bank owned properties left on the market. Fannie Mae owned this 2 bedroom, 1 bathroom ranch style home with 1200 sq. ft., oak floors, sun room and new roof. The house was originally built in the late 1950s and has nice views towards St. John's ledges. It has a level 1.1 acre parcel. The house was listed for $174,900 for over 155 days, selling for $170,600.

19 Saint Johns Acres

Nestled privately at the end of the road this 2700 sq. ft. Mansard roof home is surrounded by lawn and then woods encompassing 2.51 acres. The covered front porch is welcoming with a sun room and the back of the house has a large patio with an awning. There are 4 bedrooms and a large living room with a stone fireplace. The eat-in kitchen is spacious as well as the formal dining room. I listed this home for $389,000 and it closed for $370,000.

29 Chimney Rock Road

We reported last year that this house was renovated beautifully and was listed on the market for sale at $425,000. This three bedroom home with 2 full baths, new kitchen and garage was completely renovated with eco-sensitive construction. It sold for $372,500.

There are a number of other listings in the neighborhood that present good opportunities for all levels of the market. So, let us know if we can assist you or a friend in finding the best place to live.

Our whole firm hopes you enjoy these neighborhood 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 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.

Respectfully,

David Bain

Chris Garrity

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