Unsettling is an apt word for the 2013 real estate market
where the insecurities of the world seemed so pervasive. Yet in reflection the year was extremely
positive for us at Bain, the local real estate market and businesses alike. And
as we head into the New Year, the momentum continues.
We at Bain wish you a Happy New Year hoping health and happiness continue for you throughout 2014.
Nationally we are seeing the growth of values in many
regions. The economy is starting to get
legs and many segments of the economy reported stronger than average
figures.
Our local real estate market is active, and getting
healthier incrementally as well. Values are stronger. Selling time has dropped
to 6 months (5-7 months indicates a normal market). A 14% growth in
transactions was seen in Litchfield
County in 2013 and 17% in
dollar sales. We at Bain had another productive year with very strong sales (67%
of the sales in your neighborhood in 2013).
We appreciate your continued support and trust.
There are presently 37 homes and 19 parcels of land on the
market in Kent
which is considerably lower than the figure we had a year ago. Of the 4 land sales in Kent last year,
two were in the neighborhood. There were 30 residential sales in the last
twelve months, six sales over last year’s pace.
Kent Sales- 2013
|
Property Type: Residential
|
Status: Closed/Sold
|
Number of
Properties: 30
|
|
|
Beds
|
Baths
|
SqFt
|
Listing Price
|
LP$/SqFt
|
Sale Price
|
SP$/SqFt
|
SP/LP
|
ADOM
|
Average
|
3
|
2.24
|
2,263
|
$729,027
|
$270.76
|
$653,250
|
$242.94
|
90.77%
|
185
|
Median
|
3
|
2
|
2,009
|
$367,000
|
$184.85
|
$325,000
|
$169.27
|
91.85%
|
150
|
|
Kent Sales- 2012
|
Property Type: Residential
|
Status: Closed/Sold
|
Number of
Properties: 24
|
|
|
Beds
|
Baths
|
SqFt
|
Listing Price
|
LP$/SqFt
|
Sale Price
|
SP$/SqFt
|
SP/LP
|
ADOM
|
Average
|
3
|
2.13
|
2,088
|
$527,636
|
$229.74
|
$487,251
|
$214.31
|
96.55%
|
245
|
Median
|
3
|
2
|
1,762
|
$378,750
|
$206.61
|
$357,250
|
$195.09
|
91.55%
|
257
|
|
Of note is that the average sales price increased by 25%,
the sales price per square foot rose 12% and the time on market dropped by
nearly two months. All of these data points reveal a market that is healing
well.
We are seeing these same trends in
other towns in the area.
Yet, while buyer confidence grows the pool of prospects is
still rather low.
To keep the interest
of the buyers, proper pricing is still critical.
There are presently 2 properties in contract
to sell in
Kent.
You’ve heard it before, a well priced house gets the buyer’s attention, and it
is still true. Let’s see what sold in your area of town!
Kent Sales - Click Here for Details
Map - Click Here for Neighborhood Map
Atop a 5 acre parcel with views over
South Spectacle
Lake 32 Iron Mountain Road has a sophisticated flare. This
Contemporary Cape has 4 bedrooms, 3 bathrooms in over
2000 square feet of space. The house was built in 1993 and has cathedral
ceiling in the living room, a large fireplace and wood flooring. There is a
3-season porch and finished basement all in excellent condition. Toni Soule of
our firm assisted the purchasers that closed for
$534,000. It had been listed for over 450 days with an original
listing price of $675,000.
Just down the hill Toni also aided another
family in their pursuit of a country home at Oak Ridge Road. This was a Custom Build sale where the buyers
work with the builder to build a house on a 5 acre parcel. In this case the proposed house will be a
3500 sq. ft. home with 3 bedrooms and 3 bathrooms and plenty of quality
details. The sales price was $747,135.
Another 5 acre parcel on Oak Ridge Road also sold as a Custom Build sale. The proposed house will be a 2200 sq. ft.
home with 4 bedrooms and 2.5 bathrooms and a bonus room over the garage. The
sales price was $599,950.
280 Segar Mountain Road
is a contemporary home I have listed for sale. This three bedroom home with oak
flooring, renovated kitchen, fireplace in the livingroom is a private
retreat. Set atop a 3.697 acre wooded
parcel the 2000 sq. ft. house is in excellent condition. Built in 1987 this
home is listed for $395,000.
23 Davis Road is a cape style home with French provincial
touches. Set on a gravel road bordered in stone walls this 2 acre parcel is
well manicured. There are exceptional
boxwood design formal gardens, and a large blue stone patio. There are 3
bedrooms in this 1850 sq. ft. home. The 2 bathrooms are tiled and employ Toto
fixtures. The large country kitchen features wood beamed ceiling, stone
fireplace and zinc topped kitchen. There is a second floor family room as well
as an office, garage and barn. My partner Chris Garrity has this listed for
$660,000 or lease at $3,200 per month.
Chris and I sold 45 Davis Road,
a wonderful lakefront cabin on North
Spectacle Lake.
This is truly a throw back as this 500 sq. ft. cabin perches over the lake
offering 2 bedrooms and a bathroom. I
use that word loosely as there is a chemical toilet and water that is pumped
from the lake. A perfect place to fix up
and summer it was sold for $121,000 within
the first few days of listing it.
Next door a private sale occurred at 53 Davis
Road. These
were two cabins built in the 1960’s, not winterized, that sat out on a point at
the edge of the lake. The waterfront was
accessed from a long driveway through the 1.44 acre parcel. It sold for $650,000.
Speaking of the lake we have 59 Kenico Road
for summer lease. Sitting on the north shore of North Spectacle, this 4 bedroom lake
house receives incredible sun all day long with its east, southeast
positioning. Sited on 6 private acres
the house is in excellent shape with open rooms, 3 fireplaces (one outside),
granite countertops, tile bathrooms all focused on the view of the lake. A large deck overhangs the lake. Boats available. It is listed for $30,000 for Memorial Day through Labor
Day.
We have 61 acres on Kenmont Road
listed for $699,000. From the high
point of over 1370 feet one can see the Catskills to the west. There is an estate
quality to this lot.
Gorham Road offers a 7.75 acre parcel that also
offers peaks of the Catskills. The western sloping property is easy to build on
as it has been cleared for both the house and the view. It is listed for $245,000.
Another incredible view unfolds from the top of 28
Mt. Mauwee Road.
From this 8.581 acre parcel this lot can boast one of the highest
building sites in Kent.
This level lot has a driveway in and utilities to the site. This lot was purchased for $529,900
and is now listed at $280,000.
23 Stone Wall Lane is a private lot consisting of 17.32
acres of woods. The building site is level and is situated near the stream with
its sizeable waterfall and deep pool.
This lot is listed for $175,000.
Two parcels in the St. John’s Peak
neighborhood have sold. Both were bank
owned and located on Weantinoge Lane. #10
was listed for $49,900 and sold for $40,000.
This lot is a 4.38 acre parcel of woods. #
14 is a 5.83 acre parcel of woods at the end of the road. This parcel abuts
open space; it was listed for $77,000 and sold for $75,500.
There are more than 12 properties for sale in
the neighborhood, so if you need assistance on any of them, please give us a
call. We here at Bain Real Estate wish you all the best of 2014 and hope you
will let us know if you need any help in the coming year.
All the best,
David Bain &
Chris Garrity
And the Kent
office-Toni Soule, Marilyn DeVos, Eve Iselin and Scott Harvey
Please note that not all listings and
sales transactions are through David Bain Real Estate
