The Matthews Team

William Raveis Lifestyles Realty

Blog

Gift Sweets to Your Valentine!

Shop locally for the most delicious variety of chocolate and confections

 

Arethusa Farm - Litchfield
The dark chocolate with chocolate chunks ice cream is unreal!

Bridgewater Chocolates - Bridgewater and other Local Venders
Connecticut-made Luxury Chocolates. All confections are carefully dipped in our own
blend of the finest milk and dark chocolate. 

Eat More Chocolate - Harwinton
Their Underground Truffles are as indulgent as they are unique.

Grinch Bombs - Goshen
They start selling Cupid's Collection on Saturday Jan. 30!

Jamie’s Sweet Shop - New Milford
Hand poured, custom chocolates and perfect sweet treats.

Kent Coffee & Chocolate - Kent
From your long-time favorites to your brand new old favorite, choose from these
wonderful nostalgic treats!

Litchfield Candy Company - Litchfield
 Wall-to-wall displays showcasing confections, gift baskets, boxed chocolates.

Six Spoons Chocolatier - New Harford
Handcrafted chocolates, fudge, confections and house made sipping chocolate.

Sweets – New Preston
A purveyor of fine candy. Everything from retro to fine chocolates from all over the
world.

The Dutch Epicure Shop - Litchfield
Chocolates from all over Europe.

The Nutmeg Fudge Company - Torrington
Famous fudge crafted in small batches, retro candies, chocolates and bulk candies.

Thorncrest Farm & Milk House Chocolates - Goshen
A true expression of pure love the world over.... chocolate, chocolate, chocolate.

 

      

Check Out Winter Activities in Litchfield County

Check Out Winter Activities in Litchfield County

Winter in Litchfield County CT


We are fortunate to have an abundance of outdoor activities for all ages! Enjoy Outdoor Sports, Adventures and Fun!

 

Skiers, Snowboarders and Tubers can hit the slopes day and night

Berkshire East Mountain Resort - Great Barrington, MA

Catamount Mountain Resort - South Egremont, MA

Mohawk Mountain Ski Area - Cornwall, CT

Ski Sundown - New Hartford, CT

 

Enjoy the scenic countryside while hiking, cross country skiing, or snowshoeing

Flanders Nature Center & Land Trust - Woodbury, CT

Macedonia Brook State Park - Kent, CT

Steep Rock Preserve - Washington, CT

Topsmead State Forest - Litchfield, CT

White Memorial Conservation Center - Litchfield, CT

All with many trail options for all ages.

 

Ice fishing and Ice skating

Bantam Lake - Litchfield / Morris

Burr Pond - Winchester

Candlewood Lake - New Milford

Canterbury School Rink -  New Milford

Family Skate at the Gunnery Rink - Washington

Lake Waramaug - Kent / Warren / Washington

Mount Tom Pond - Bantam / Morris

Twin Lakes - Salisbury, CT

West Lake - New Hartford, CT

Please read about ice safety before you go.

 

Connect and Learn About Nature and History

Flanders Nature Center - Woodbury, CT

Pratt Nature Center - New Milford, CT

Sharon Audubon Society - Sharon, CT

The Institute for American Indian Studies - Washington, CT

White Memorial Conservation Center - Litchfield, CT

                                                                                                  

Winter in Litchfield County CT  

Photo Credit: Philippe Doh

Litchfield County Real Estate Market Recap 2022

Litchfield County CT Real Estate Market 2022

As we entered 2022, our primary concern was inventory. Surprisingly, even with record low inventory, we were able to work hard and close out our 2nd best year ever with over $163 million in sales.  We thank our clients and the team for their hard work in helping to achieve these results.   

As we head into 2023, we are at an inflection point on housing sentiment and the economy overall.  Here are our thoughts on how things might play out. 

The Bullish Case 

The pandemic has cemented Litchfield County as the premier country getaway for NYC weekenders. 

The newer residents of the area are absolutely loving it here and are busy signing up for camps, completing renovations, and joining clubs. They will be hosting their friends in full force this summer. We have only resold 2 of the over 400 houses we sold in 2020, 2021 and 2022. No one wants to sell their houses and seemingly will only do so under a major life change. New inventory is largely back to the “3 D’s” - Death, Divorce, Downsizing, as the primary drivers. However, lack of inventory has made downsizing challenging.  

There are a variety of new high-end Inns in the pipeline (3 in Litchfield alone are already approved and under renovation) as well as some hotels and spas about to enter the application process in several towns. These will allow more people to enjoy and “try out” our communities and lifestyle. 

Summer rental demand is off to a brisk pace with our highest end listings already scooped up.  New calls are coming in daily for rentals and inventory here will be diminishing quickly over the next month.  Pricing is down from pandemic heights, but still very solid.  

Our area has never looked better, many hundreds of millions of dollars have gone into renovating homes, public spaces, and businesses in the last few years.  Our towns are vibrant with low taxes, healthy businesses, and dynamic social, artistic and entertainment calendars.  Our land trusts are expanding and preserving more land for future generations.  Our schools are excellent, our environment is clean.  

These factors will combine to form the next generation of demand.  We think it’s quite likely that those who are waiting on the sidelines now will find themselves in the next round of bidding wars when they realize that interest rates alone will not crash pricing in an area where inventory is so low.  The inventory of single family homes on 12/31/22 was about half of what was available on 12/31/21, and only one quarter of the availability on 12/31/19.  We have also seen inventory drop another 10% in the first 11 days of January.  This is astonishing.   With limited speculative building in the pipeline, we just do not see a potential for excess supply developing in the near to medium term.  Buying an existing home still represents tremendous value if you compare it to replacement cost.  The higher up the price spectrum, the more this is true.

Luxury building costs are now in the $800+ per square foot range.  This puts building from scratch out of reach for most customers and will increase demand for existing homes. Sales prices per sq ft remain well below this number. 

The Bearish Scenario

While inventory remains our primary concern, interest rates and employment are, of course, a close second.  We live in an area where many of our buyers are not obtaining mortgages, and are not particularly interest rate sensitive, though they are using the interest rate change, or recession excuse, to slow decision making.  Some have pulled away temporarily.  How long will they hold out? 

Our market remains very closely tied to NYC and the financial markets.  With lower bonuses expected, some buyers will delay purchases.  To date, financial firm layoffs have been limited, but if those become wide-spread, or we head into a prolonged recession, perhaps that will shake out some additional inventory and effect both the supply and demand sides of the equation.  

Affordability is a concern if you think about those in the lower and middle economic strata.  1mm+ listings now make up 25% of all listings in the county.  This is a new high. It is a well discussed fact that affordable housing is becoming a crisis everywhere. Some of our friends are trying hard to put a dent in this problem and we are working with several clients on specific projects trying to address this issue. Our practice is spread across the entire spectrum and our agents are attuned to hyper local market dynamics at all price points. Will we be able to build enough affordable/workforce housing to provide growth and allow for a diversity of residents for our area? It is a serious question. 

Litchfield County Sales Data 2017-2022

In Conclusion 

We are busy sourcing new inventory, trying to make sure our buyer clients are educated and ready when the right property comes along, and helping our sellers stay competitive to the other offerings in the market.  If sellers are reasonable and willing to take higher rates into their pricing assumptions, they will still be able to sell in a reasonable time frame.  As always, please reach out if you are curious about our thoughts on your property.  

It’s been a pleasure getting to know all our customers, both new and past, as we continue in our quest to help those with real estate needs in our communities.  We have grown our practice to include agents working in Litchfield, Fairfield and New Haven counties, as well as border towns in NY State.  

Our greatest appreciation goes to our clients who have put their trust in us and continue to be our greatest source of business.  Thank you, and here’s to a healthy and successful 2023.   

Stacey and Pels Matthews  

 

Interested in learning more about Litchfield County real estate? Contact William Raveis Lifestyles Realty to speak to a real estate expert today. 

Comments

  1. No comments. Be the first to comment.

Sip n' Shop at Leitz Leather in the Silo at Spring Hill

Enjoy Leitz Leather Sip n’ Shop Pop Up with Eric  & Sherry!
Leitz Leather

This Sat Dec 10th from 11-6 @ Spring Hill Arts Gathering in the Silo. 292 Bee Brook Rd. New Preston, CT 06777
Choose from some of these Featured Handmade Leather Goods; Firewood buckets, weekender bags, tote bags, clutches, folios, wine totes, card wallets, valet trays Men’s, Women’s & Kids belts & bracelets Tahitian pearls on leather and more...
Leitz Leather Litchfield CT
 

Comments

  1. No comments. Be the first to comment.

Shopping Locally in Litchfield County, CT

Litchfield County has Style and an abundance of locally owned shops, to gift and enjoy all year.

Local Shops in Litchfield County CT

Click on links below for some shops chosen by William Raveis Lifestyles Realty

 

Kids

Silly Sprout - Litchfield

Nordica - New Milford

J Seitz - New Milford

Specialty Toys - New Milford

Plain Goods - New Preston
 

Women's Apparel 

Terston - Kent

Oliphant Design - Litchfield

R. Derwin - Litchfield

Workshop on the Green - Litchfield

Traveling Chic Boutique - New Milford

J Seitz - New Preston

Plain Goods - New Preston

J McLaughlin - Washington Depot

Shop Cathy B - Woodbury
 

Men's Apparel

Braeval - Litchfield

R. Derwin - Litchfield

J Seitz - New Preston

Plain Goods - New Preston

J McLaughlin - Washington

 

Interested in learning more about Litchfield County real estate? Contact William Raveis Lifestyles Realty to speak to a real estate expert today. 

Why We Give Thanks and Support Our Community

Please join Pels and Stacey Matthews and Agents of William Raveis Lifestyles Realty in our commitment to give back to our community.

The holiday season is upon us and many local charitable organizations would greatly benefit from your support.

Throughout the years we have participated in fundraisers and donations to First Responders, Food Banks, Family Support, Counseling Services, Land Trusts, Area Parks and Animal Shelters to name a few.

Websites below.

Northwest CT Land Conservancy

Steep Rock Association

Housatonic Valley Association

Bridgewater Fire, Ambulance and Food Banks

Kent Fire, Ambulance and Food Banks

New Milford Fire, Ambulance and Food Banks

Roxbury Fire, Ambulance and Food Banks

Washington Fire,  Ambulance and Food Banks 

Greenwoods Counseling Referrals

Judy Black Park & Gardens

After School Arts Program

Sharon  Audubon Center

New Milford Animal Society

H.O.R.S.E.

Litchfield County Market Overview 2021

2021 is in the books and another active and interesting year in our markets. Volume in Litchfield County was down from 2020’s frenetic pace with 10% fewer transactions overall (under $1MM it was down 9%, and over $1MM down 22%). Average sale prices for both categories however were up (8% for under $1MM and 5% for over $1MM). We largely attribute this to low inventory levels. The over $1MM market for example has 90 properties listed for sale today, pre March 2020 this number was closer to 300. Given the cost of new construction, delays in material deliveries we just don’t see how this will drastically change in the near or medium term. This is our main issue for 2022. We have long lists of buyers looking for houses and not enough inventory to show them. So if you are considering selling, renting or looking for a market analysis of your property please reach out. 

Our year was quite busy ($125MM sold and closed and $50+MM pending at year end) and the summer rental season is just starting. Clients have had us working far and wide in their searches and we continue to expand our coverage areas and team. We have multiple agents licensed in NY and a handful also working in our NYC office. At year end we were 23 agents and support staff all working together.

We thank all our clients for their trust and look forward to another busy year. 

 

 

 

 

Comments

  1. No comments. Be the first to comment.

Build Your Dream Home on 314 Acres in Lakeville CT

Millerton Road, Lakeville
Open Meadows & Expansive Views

Land in Salisbury CTLand in Lakeville CT
Acreage in Salisbury CTAcreage in Lakeville CT

Fantastic opportunity to build your dream home on your own hilltop with expansive views on 314 acres of estate quality land in Lakeville. Great for a horse property or country compound. No conservation easements or deed restrictions in place! Seller will include the modest house at 380 Millerton Road for free. Additional 199 contiguous acres are available for a total of 515 acres.

    Comments

    1. Robert Delmonico on

      This property is sold?

      Winvian Farm and Lime Rock Race Track Partner to Launch Women at the Wheel Retreat

       

      Ladies, Start Your Engines....

       

      Winvian Farm, the AAA Five-Diamond hotel in Connecticut's Litchfield Hills, has officially declared 2018 the Year of the Woman, launching the Women at the Wheel program, beginning April 21. Women at the Wheel will showcase a partnership between Winvian Farm and the nearby Lime Rock Park race track in Lakeville. The two-day retreat will include a private, half-day race car driving lesson with one of Lime Rock’s top instructors, most of whom have coached some of the world’s champion racecar drivers.

      After a day on the race track, women can enjoy the luxury amenities at the Relais & Chateaux hotel. Guests may select body and facial treatments at the 5,000-square-foot spa, eat in Winvian Farm's award-winning restaurant, relax poolside, or go hiking through the neighboring White Memorial Conservation Center.

      Included in the two-day retreat are accommodations in one of Winvian Farm’s 19 accommodations (18 of which are private cottages), one three-course dinner for two, a bottle of champagne upon arrival, and one half-day private racing lesson at Lime Rock Park. 

       

       

      https://www.winvian.com/news-media/woman-at-the-wheel/