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Date Archives: May 2015

Bain Real Estate - Market Update Home

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Bulls Bridge | 4 Posts
Cornwall Bridge | 6 Posts
Cornwall Hollow | 4 Posts
Cream Hill | 5 Posts
East Cornwall | 5 Posts
East Warren | 5 Posts
Ellsworth | 5 Posts
Kent Hollow | 4 Posts
Kent Village | 4 Posts
Long Mountain | 2 Posts
Merryall | 2 Posts
Mid Cornwall | 5 Posts
Mudge Pond | 5 Posts
Route 7 South | 3 Posts
Segar Mountain | 6 Posts
Sharon Mountain | 4 Posts
Sharon Village | 4 Posts
Silver Lake | 5 Posts
Skiff Mountain | 4 Posts
South Kent | 3 Posts
Spectacle Lakes | 5 Posts
Waramaug | 4 Posts
West Cornwall | 7 Posts
West Warren | 5 Posts
Westwoods | 4 Posts
White Hollow | 4 Posts
May
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

Well, it's time for the annual check up on what's going on in the neighborhood and beyond. It's was a brutal winter, and not much happened in real estate during the snow and cold, but I am happy to tell you as the weather warmed in April and May the buyers have come back and a number of properties throughout Litchfield County have found their buyers and gone into contract, some with multiple bids. Most of these haven't yet closed, so you will have to wait until next year to read the results. But I think it will be a busy spring and early summer.

While on the national scene real estate is doing well, but throughout the north east sales have been sluggish. I think we have been doing better than most. New Milford itself had 119 residential sales. There was only one other land sale besides the one in your neighborhood reported below, a 5.63 acre lot off Ridge Road, that went for $100,000.

This past year in the three areas we write about in Merryall (all the letters and maps are on our website under "Neighborhood Sales Stats") there were 19 sales, and 7 of them were in our Southern Merryall neighborhood, up from last year's 4.

Let's take a look at what happened.

Over on the west side of the "hood," off of West Meetinghouse Road Nature View Lane had two sales. 1 Nature View Lane is a 2544 sq. ft. colonial with 4 bedrooms and 2.5 baths built in 1986 on 1.27 acres it sold for $283,500 down from its list of $299,900.

5 Nature View Lane is a 3344 sq. ft colonial with 4 bedrooms and 2.5 baths built in 1987 on 1.54 acres that sold for $316,000, down from its list price of $329,000.

324 West Meetinghouse Road is a 2100 sq. ft. High Ranch with 4 bedrooms and 2.5 baths built in 1976 on .95 acre. It sold in March after 88 days on the market for $292,000, down from its list price just $2,000.

31 Bridle Road, a 2426 square foot colonial with 3 bedrooms and 2.5 baths built in 1986 on .92 acres sold in June for $300,000. First listed in April of 2009 for $389,000, it went through 5 brokers and 5 price reductions to $309,900 and then sold in 34 days. Price does make a difference.

At the north end of Wood Creek Road a private 8.94 acre building lot sold last May for $165,000, just $4000 down from its list price after only 8 days on the market. It abutted a large parcel of preserved open space.

72 Bear Hill was an old mill originally built in 1800 and now transformed into a 2301 square foot 2 bedroom 2.5 bath home right on the West Aspetuck River! It also has a small guest house. It is very special. The home was first listed for $635,000 in February of 2012, dropped twice to a final list price of $575,000 and sold in August for $545,000.

Lastly 69 Bear Hill Road is a 714 square foot cottage with 2 bedrooms and one bath on 1.1 acres that sold last August for $152,500, down from its list price of $157,500 after 355 days on the market.

These letters as well as those we write for other neighborhoods are on our website under "Neighborhood Sold Stats" along with their maps, so if you would like to review them or share them, they are just a few clicks away. We work hard to make them interesting and factual and hope you have enjoyed them. You can sign up to get these letters emailed just by leaving your email address there. You can also search the entire MLS for properties for sale in New Milford and neighboring towns on our web site www.bainrealestate.com. It has received much favorable comment for its ease of use. If we can be of service in the meantime, please give us a call. The numbers are below. Enjoy the summer and we'll write again next year.

Sincerely,

David Bain

    

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

May
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

Well, it's time for the annual check up on what's going on in the neighborhood and beyond. It's been a brutal winter, and not much happened in real estate during the snow and cold, but I am happy to tell you as the weather warmed in April and May the buyers have came back and a number of properties throughout Litchfield County have found their buyers and gone into contract, some with multiple bids. Most of these haven't yet closed, so you will have to wait until next year to read the results. But I think it will be a busy spring and early summer.

 
This past year in all of Merryall there were 19 sales, but in our Northern Merryall neighborhood there were only 3. Two of them went to the second home market.

Here they are:

At 452 West Meetinghouse Road a 2376 square foot 3 bedroom ranch built in 1984 on an 11 acre parcel of sloping woodland closed in January for $270,000 down from its list price of $285,000 in September of 2013.

Over at 26 Burnett Road is a 4185 sq. ft. 1771 colonial with 4 bedrooms, 3 full baths and 2 half baths on 18.86 acres. This home had been meticulously restored and beautifully landscaped. This was a great property and a good price. It was listed last May for $1,485,000 and sold in September for $1,345,000.

 

100 Squire Hill Road is a 3864 square foot colonial farm house with 4 bedrooms and 3.5 baths built in 1941 on 26 acres. It has several outbuildings in good condition, a pool, a pond and extensive landscaping. It further abutted preserved land. It was one of my favorite properties and sold in June for $1,525,000, down from an original list of $1,850,000 in April of 2013.

I'd like to bring to your attention 40 Cherniske Road. It is one of the few LEED certified homes in the northwest part of the state, which means it is green. Built with renewable materials, loaded with the latest technology, it actually sends electricity back into the grid! Privately situated on 12 acres that abut land trust, its setting is unique and fabulous. Offered for $425,000. Call us for details.

So stay tuned as things are getting exciting! I hope your Memorial Day will be sunny. We'll be working hard throughout the coming year and will write to tell you what happened next year. In the meantime check us out at www.bainrealestate.com or give us a call.

Respectfully,

David Bain

  

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.

May
1

PLEASE CLICK  HERE TO SEE THE MAP. 

Dear Neighbor,

We welcome May!! What a winter it has been. I'm glad to see the sudden burst of green and early tulips and late daffodils together! Nice.

With the warm weather things have definitely picked up. Nationally the growth of values in many regions is palpable. The Northeast has been slower than other parts of the country and locally the values are tightening. Locally, the selling time has dropped to 6 months (5-7 months indicates a normal market). And we at Bain have had another productive year with strong sales, so thank you.

In all of New Milford there are currently 128 residential homes on the market. In the last year 114 homes were sold. So the residential picture is bright. There are 25 land parcels currently available and in the last year only one sold! It was a 5.63 acre parcel at 6 Delia Lane off of Ridge Road that sold for its asking price of $100,000 in 4 months. That lone land sale tells a lot about our current building market.

Your neighborhood is a small part of the above scene in New Milford. Here's a look at the volume in the neighborhood from the hay days of 2004 to the present:

2004 had 15 sales

2005 had 20 sales

2006 had 20 sales

2007 had 14 sales

2008 had 9 sales

2010 had 5 sales

2011 had 6 sales

2012 had 6 sales

2013 had 9 sales

2014 had 7 sales

2015 had 9 sales

Now let's look at what happened here in the last 12 months:

Starting in the upper left hand corner of the map at 7 Logans Run, a 1,991 sq. ft. ranch with 4 bedrooms and 2 baths built in 1997 on 2.34 acres sold in November for $265,000 down from it's list price of $279,900.

6 Mud Pond Road , a bank sold 2032 sq. ft. 3 bedroom and 2.5 bath colonial built in 2003 on 4.1 acres sold last December after 2 years on the market for $240,000 down from its original list of $285,000 in July, 2013 and its last list price of $249,900.

Two properties were sold together at 77 and 77A Browns Forge Road. The house is a 1444 sq. ft. contemporary with 3 bedrooms and 2 baths built in 1991 on .65 of an acre. It has a screened porch overlooking the in-ground pool. It sold in December for $340,000, down from its list price of $369,000 in September. An additional interior lot of 2.19 acres with a Right of Way over the RR tracks was also sold for $30,000.

Across the street at 9 Quail Ridge Road a 2440 square foot colonial with 4 bedrooms and 2.5 baths built in 1986 on 6.7 acres sold in July for $249,000, its list price.

178 Indian Trail Road is a unique "green" contemporary of 4000 square feet set into the ground with 3 bedrooms and 2 baths, soaring ceilings and views to the Catskills from the mountain top 51 acre site. It even has a small landing strip. It sold in September for $675,500 down from its original list price of $885,000 in 2013

Over on the east side of the "hood," off of West Meetinghouse Road Nature View Lane had two sales. 1 Nature View Lane is a 2544 sq. ft. colonial with 4 bedrooms and 2.5 baths built in 1986 on 1.27 acres and sold for $283,500 down from its list of $299,900.

5 Nature View Lane is a 3344 sq. ft colonial with 4 bedrooms and 2.5 baths built in 1987 on 1.54 acres that sold for $316,000, down from its list price of $329,000.

Down at the south end of the map, 417 Long Mountain Road, a 2302 sq. ft. colonial with 4 bedrooms and 2.5 baths built in 1999 on 1.54 acres sold for $335,000, down just a bit from its list price of $349,900,

In the meantime keep posted on all developments by checking into our website, www.bainrealestate.com. These letters are all posted there with their maps under "Neighborhood Stats" if you want to check into past letters or see what's going on in other neighborhoods. Recent sales are there and all the listings in CTMLS. It's easy to search by town or by price or both. If we can be of service to you or your friends, we are here 24-7. Have a healthy summer!

Respectfully,

David Bain

 

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.

May
1

PLEASE CLICK HERE TO SEE THE MAP.

 Dear Neighbor,

Yes, vernal life is slowly emerging after that oh so snowy and long winter. And over the last 12 months we have seen the same slow season-like change in the real estate market. Many of the properties under pressure from the economic turndown are being sold leaving market valued homes to compete for buyers.

 

Nationally the growth of values in many regions is palpable yet the Northeast has been slower than other parts of the country. In fact nationally sales have increased over 10% but in the Northeast sales only increased year over year a meager 1.6%.

 

There are presently 62 homes and 28 parcels of land on the market in Sharon which is considerably more than our neighboring towns. There were 51 residential sales in the last twelve months, comfortably above last year's pace of 47 sales. There were 10 land sales this past year compared to only 6 in the 2014 period. Presently there are 10 properties in contract to sell.

 

Yet, while seller's confidence grows the pool of prospects is still rather low. Keeping the interest of the buyers' means proper pricing is still critical. Logically with attractive pricing, low interest rates, a more stable market and buyer confidence the market should be booming. Yet we are still seeing a very cautious market. Since January Sharon has recorded only 16 closings: 5 of them closing for a million or more; only 3 between $500,000 and a million; and 8 sales under $400,000. Maybe it's a delayed response to the harsh winter or it may be another sluggish start. Clearly the middle market is most sluggish.

 

Homes - Sold

 


21 Mudge Pond Road

This home was sold "as is". It required a great deal of renovation but is on a level lot; has four bedrooms and two bathrooms. It was purchased and renovated and is back on the market for sale. The house sold for $123,000

         194 Low Road


This lovely colonial home is in perfect condition offering the character of antiquity and the convenience of modern living. The homes details are original and this elegant country colonial maintains 4 bedrooms, 3 bathrooms and 2 powder rooms. There is a main level master suite, a screened porch a separate 3-car garage and storage barn. Outside a swimming pool, small pond and useable 6 acres are well manicured. It was listed for $1,695,000 and closed for $1,600,000 after being on and off the market since 2010.

 


208 Low Road

This home is sited on 3.16 acres of land and features 3 bedrooms, 2 bathrooms and a large family room. There is a two car garage attached and a wood deck overlooking the private backyard. The home was sold for $200,000 after spending a few years on the market.

 


259 Low Road

This home was a renovated one level home set well off the road offering a gourmet kitchen, three bedrooms and three bathrooms. There is a large deck with views to the west and a spacious lower level all useable. The 1.57 acres sloped to the west, was well landscaped and hosts a small pond. It was listed for 190 days and sold for $371,500.

 


286 Low Road

Corporate owned and hence sold "as-is", this 1960's ranch offered potential. Clearly renovation was needed but this 1280 sq. ft. home with 3 bedrooms and 1 bathroom has oak flooring and a two car garage, rear deck and oil heat. It sold for $109,900.

 


5 Rolling Hills Road -
This 1990 contemporary ranch is in turn key condition on a sunny and level 2.5 acre parcel. Interior features include a recently updated kitchen, family room with fireplace and a master suite with a tiled bath and two guest rooms which share a bathroom. There is vibrant wood flooring throughout the 2316 sq. ft. home which includes a screened porch. Property includes a separate 2-bay heated garage. Offered for sale since April of 2011 starting at $485,000 the house sold for $360,000 in April of 2014.

 

 

  Homes – For Sale

 


7 Mudgetown Road
is a one bedroom country house on 10.79 acres of pond and vistas. The 870 sq. ft. house has 2 bathrooms and open floor plan and a large deck. There is a separate two car barn. The house is being offered for $345,000

 

 


290 Low Road
- This home sits up high enough to enjoy year round views of Twin Oaks. The open floor plan includes a spacious kitchen as well as 3 bedrooms and two and a half bathrooms. The new deck facing the northwest offers not only views but peace, quiet, nature as well. With 1500 sq. ft. of living space, oak floors the home also has an in-law space on the lower level. It is listed for $280,000.

 

 

There are a number of additional properties in the neighborhood that are listed for sale. They can be found, with all of the current Sharon listings on our website www.bainrealestate.com. I encourage you to visit it. It's loaded with information about listings, sales, our towns and these letters (see Neighborhood Stats). There is also a way there to get direct email posting of new listings as they hit the market. Or follow our Sharon Blog - http://hillsofsharon.blogspot.com/ And if you know anyone thinking of selling their property, we would like the opportunity to talk to them about our marketing. Thanks. I'll write again in a year to let you know what's happened.

 

Respectfully,

 Chris Garrity

David Bain

And the Sharon office- Michele Pastre, Jen Luning, Joannie Yahn, Drew Holland and David Almquist

 

 

 

 

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.