Get new listings emailed daily! SIGN UP LOGIN

Date Archives: October 2015

Bain Real Estate - Market Update Home

rss logo RSS Feed
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
October
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor:

Our most beautiful fall is lasting longer than ever. The usual peak weekend of Columbus Day came and went and we still have lots of color. Our Cornwall Economic Development Committee sponsored an Explore Cornwall weekend and lots of visitors did just that. Several open houses were held and the good news is that Cornwall real estate is appreciated and selling.

Last year, we reported 2 sales in your neighborhood and this year we are reporting 3, all at significantly higher prices than last year. Overall there were 15 sales in town within the last year which is considerably lower than the previous year. While the data sample is small and a few sales can really skew the statistics, a common thread can be seen with the square footage selling price in the $200 per sq. ft. range and nearly 6 months to sell a house. There are presently 37 homes for sale in Cornwall.

 

Status: Closed (15) Cornwall 10/15/2014-10/15/2015

 

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Min

1

1

622

$54,900

$68.25

$50,000

$60.11

.69154

1

Max

5

5

4,669

$3,695,000

$821.11

$3,200,000

$711.11

.96882

631

Avg

3

2

2,254

$614,780

$221.67

$518,319

$186.85

.85437

183

Median

3

2

2,064

$299,000

$166.53

$250,000

$137.02

.86604

118

Sum

 

 

 

$9,221,700

 

$7,774,788

 

 

 

 

Status: Closed (22) Cornwall 10/15/2013-10/15/2014

 

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Min

1

1

1,016

$114,900

$67.59

$94,200

$55.41

.81984

16

Max

5

5

4,936

$1,295,000

$451.58

$1,110,000

$426.59

1

470

Avg

3

2

2,398

$525,918

$223.73

$479,305

$204.54

.90859

194

Median

3

3

2,176

$435,000

$220.60

$392,500

$199.76

.90939

162

Sum

 

 

 

$11,570,199

 

$10,544,700

 

 

 

 

Price is still a most significant feature of a successful sale. Most Cornwall properties sell below the town's appraised value, but above the assessment. Those properties priced way above this benchmark usually linger as "sales listings" and sell when the price drops.

 

This year's sales:

8 Popple Swamp Road had been priced at $825,000 several years ago and was listed by David Bain in 2014 at $592,500. This 10 room 3558 square foot house with 5 bedrooms, 3 baths, 2 fireplaces now has new owners who bought the property for $487,500. It looks great now, shining improvements with paint and landscaping.

 

19 Todd Hill Road had been priced at $733,000. It is a large black walnut log cabin, 2934 square feet sited on 30 very private acres at the end of a dead end road with views overlooking the valley. The house has 4 bedrooms each with bath en suite and includes a first floor master. The new owners paid $615,288.

 

239 Great Hollow Road consists of 3 lots totaling 10.2 acres with a small cottage on the north side of the road and a barn plus a garage on the south side which borders a nature conservancy property. The cottage needs a total redo but the location near Mohawk Ski area is lovely with pastoral views. Listed at $168,500 it sold for $150,000.

 

We have 5 listings for sale in the neighborhood. Three are homes and two are land.

 

52 Cemetery Hill Road is my listing, originally priced at $395,000 and reduced in 2 steps down to $299,000. This 1950 cape is large and light filled at 2715 square feet. It is an estate sale and the interior needs the floors refinished, some walls painted and kitchen appliances updated. But the house and property are unique and offer the next owner an opportunity to create a new and lovely home. One could live in the house while having the work done. The home has 3 bedrooms and 3 baths, 2 fireplaces and the most storage ever! Additionally there is a detached 3 car garage, storage barn, 1 acre pond with writer's cottage and a magnificent 300+ year old oak tree.

 

4 Cornwall Hollow Road was Dr North's home and office back in the early 20th century.

Built in 1914, this 5 bedroom house with eat-in kitchen, gracious front hall, 2 porches and hardwood floors throughout needs serious renovation. It sits on a hill at the 4 corners and needs a new owner to bring it back. The current owner added a handsome standing seam metal roof and has used it as a rental for over 10 years. The property also offers 2 barns, currently rented out as storage units, all on 3.75 acres. In the 1950's and 60's this was a bed and breakfast inn for hunters and skiers. This is also my listing originally priced at $225,000 and just reduced to $195,000.

 

34 Great Hollow Road is David Bain's listing at $1,200,000. This spacious 2013 farmhouse is sited on 3 acres with views of Mohawk Ski Area. A master builder has created a 3840 square foot 10 room home with 4 bedrooms and 3.1 baths and 4 fireplaces. Nine foot ceilings add to the grace, crown moldings, 2 porches, an attached 2 car garage and a large screened porch are all part of the package.

 

On Valley Road I have listed a 7 acre lot with a waterfall! 681' frontage and a driveway roughed in to the top of the acreage where one could build a dream house with views down Coltsfoot Valley. Underground utilities, an incomparable romantic bridge over rushing waters (but built to accommodate a fire truck or ambulance) this land is just past Essex Hill Road. Recently, reduced to $299,000.

 

Over on Great Hollow Road Rick Meehan has listed an 8.62 acre lot. There is a rough drive to a level building site which offers nice eastern views. Listed at $135,000.

 

Currently there are 37 Cornwall houses on the MLS and 3 homes for sale by owner. Please visit www.bainrealestate.com to see all them all. We'd love to have you visit us in the West Cornwall office, next door to the Wandering Moose. If you have any real estate questions, please ask and we'll get the answers.

 

Cordially,

 Priscilla Pavel

 Asher Pavel Richard Meehan Heidi Kearns

 

 

 

 

 

 

Please note that not all listings and sales transactions are through David Bain Real Estate

October
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

 

It is so great to be living here. The leaf peeping season is upon us and while it may be a bit too dry, hikers come back to Bulls Bridge to see the cataracts and walk the trails in our hills.. It is also that time again for our annual neighborhood real estate report detailing the activity in the last 12 months. Wow, we are fortunate as the wonderful summer day's shift into lovely autumn splendor.

This same shift seems to be the real estate mantra. Confidence continues to be the main factor in the solidification of values. While there are daily occurrences of uncertainty, the national economic trends are faring well.

The local real estate market has been very robust. We saw a strong 4th quarter in 2014 with 11 sales, a fairly brisk first quarter of 2015 with 10 transactions and a third quarter 2015 boom with 14 properties selling. That trend continues with 7 sales in the last month and a half with 8 homes presently in contract to close before the year's end. Kent is on track for a very strong year of over 50 sales.

With increased optimism and more sales, sellers who have been on the sidelines for the last 6 years are coming into the market. There are more listings on the market today (80) than last year at this time (73), a 8.5% increase. So, as the market becomes loaded with homes, the downward pressure on prices increases. We are already seeing this manifest in our listing to closing ratios.

Date Sales Av. List Price Market Time Av. Sales Price

2012-13 28 $ 553,579 199 Days on $ 494,927

2013-14 27 $ 813,852 146 Days on $ 740,189

2014-15 42 $ 482,742 165 Days on $ 449,532

So here is what has transpired in your neighborhood:

Just south of the Village of Kent two buildings at 27 Kent Road sold on a .52 acre parcel of land. One building maintains commercial use while the other is a residence. The 1800 sq. ft. commercial building offers a one level large open room. It has been an office and a retail store for motorcycles. The 3 bedroom, 1 bath home has nearly 1300 sq. ft., wood flooring and a fireplace. The property sold for $256,000 last month.

Eve Iselin of my firm found the buyer of 16 Birch Hill Lane which was listed by our newest agent Dave Fairty. With just over 1000 feet of living space, this home is in impeccable condition. There are two bedrooms and an updated bathroom. The kitchen has been completely renovated and has new appliances. The level yard is fenced and overlooks the Housatonic River. Set on a third of an acre this home sold for $163,000 in multiple bids.

On the west side of the Housatonic River a 2 bedroom cottage with a separate guest cottage sold for $280,000. Having been listed for years, the house has 1716 sq. ft. and is nicely updated. Set well off the road and wedged between two waterfalls this is a lovely weekend escape at 250 Schaghticoke Road.

A super cute cottage on a level parcel of woods with view potential is available at 231A Kent Road and is listed by my partner Chris Garrity. This 609 sq. ft. bungalow is simple to operate and easy to maintain. The main room has a native stone fireplace and wood floors. There are new windows and an updated kitchen. Additionally there is a dining room, screened porch and full bathroom. Set on 4.38 acres, it's perfect for one person or a couple seeking a getaway from the world for $120,000.

With 3,400 sq. ft. the house at 19 Valley View Road took years to sell. The bank owned property had been neglected and finally sold for $201,500. Set on 4.25 acres of wooded land the house has 4 bedrooms and 3 full bathrooms. The kitchen is large and drops down to an open family room with a fireplace. Built in 1986 the house also has an attached 3 car garage.

25 Valley View Road is a 3 bedroom, 3 bathroom home built in 1990. This 2,874 sq. ft. colonial farmhouse has 2 fireplaces - (living room & master bedroom), an open foyer, kitchen with newer appliances plus a master bedroom suite including a whirlpool tub and double vanity. The lower level has 675 sq. ft. with an exercise room and large office. There is also a large deck off the family room and covered front porch; all opening to a level yard of 2.35 acres. It sold for $350,000.

Just beyond Bulls Bridge Inn at 341 Kent Road Toni Soule of my office listed and sold a wonderful family home with 3 bedrooms, oak floors, fireplace and large eat-in kitchen. There is a sunroom just off the kitchen, perfect for winter warmth. The land is special and quite a large 2 acre lot with herb, flower and vegetable gardens alongside fruit and specimen trees. It needs a little updating but this property listed at $240,000 closed for $235,000.

Around the corner at 237 Bulls Bridge Road a 352 sq. ft. cottage on .3 acres sold for $65,000. This sweet, two-room one bath home is on a level lot and in good condition. It sold privately.

Up on Spooner Hill, Toni Soule also closed on 21 Highland Road. This custom constructed home is tucked away privately upon 1.52 acres on a little traveled town road. Featuring 3 bedrooms, 2 and a half baths, this country farm house has a wide porch to sit, spacious living room with field stone fireplace and a screened porch off the dining room. It closed for $305,000 in 31 days.

Lastly, Dave Fairty assisted the purchaser of 128 South Kent Road. Completely remodeled 5 years ago this 2000 square foot, one level home has 2 bedrooms and 2 full bathrooms. The living room and kitchen are one large open room with a fireplace, cathedral ceilings and gourmet kitchen with granite counters and custom cabinetry. The house also has a separate studio and office. Listed for $289,000 it closed for $280,000.

There are a number of properties on the market in Kent so if you wish to see any of them, or have someone who might be looking, give us a call.

Kent continues to thrive and the autumn colors are the best we've seen in years. So enjoy!

Respectfully,

 

David Bain

Chris Garrity

& the Kent office-Toni Soule, Marilyn DeVos, Eve Iselin, Dave Fairty & Scott Harvey

 

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

October
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

The local real estate market was strong in the first quarter of 2015 but quickly evaporated during the summer months. Yet the data shows that the last 12 months has been a bit stronger than the previous in Sharon. In the last 365 days there have been 49 sales transactions in Sharon 5 more sales than the year prior. As one can see the average sales price has decreased slightly and yet the average square foot price has increased. To provide perspective in 2011 there were 43 sales and in 2012 there were 37 home sales transactions. So we are continuing a slow growth path and returning good values.

There are 81 home listed for sale presently and 5 homes in contract to sell.

 

Status: Closed (44) Sales in Sharon Sept. 2013-2014

 

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Min

1

1

644

$109,900

$85.71

$50,000

$53.23

.43478

4

Max

9

6

12,057

$6,650,000

$954.88

$6,137,500

$764.67

1.03139

689

Avg

3

3

2,641

$773,452

$236.94

$677,607

$207.36

.87654

186

Median

3

2

2,259

$474,000

$203.80

$436,875

$177.49

.90438

149

Sum

 

 

 

$34,031,900

 

$29,814,719

 

 

 

 

 

Status: Closed (49) Sales in Sharon Sept. 2014-2015

 

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Min

 

 

576

$50,000

$28.50

$40,000

$27.12

.58632

 

Max

6

6

6,469

$3,950,000

$1,562.50

$3,400,000

$1,500.00

1.22839

931

Avg

3

2

2,434

$766,455

$269.31

$675,799

$240.75

.89732

182

Median

3

2

2,016

$299,000

$193.83

$280,000

$173.61

.89632

113

Sum

 

 

 

$37,556,300

 

$33,114,150

 

 

 

 

Here is what has happened in your neighborhood.

2 Jackson Hill Road known as "Longview Cottage" maintains 24 acres of property with room for horses, pasture, gardens, trails and has mountain views. The large main house built in the early 1900s is spacious, has light filled rooms, attached greenhouse, period barn, stone patio. There are 6 bedrooms, 4 bathrooms; a book lined study as well as two fireplaces. Requiring considerable renovation this home sold for $305,000.

Up the hill at 46 Fairchild Road another large home, this one an antique farmhouse, sold. With over 6000 square feet of living space this 1880 home offers 5 bedrooms and 5 and a half bathrooms. Elegant master suite w/his and hers baths and closets. There are both a formal dining and living room with good natural light. The main floor offers many openings to a spacious patio and long western views beyond. Outside is an in-ground pool, barn, 3 car garage and views over open meadows. It was listed for $1,545,000 and closed for $1,350,000 after 101 days on the market.

Around the corner at 41 Jackson Road a cape style home requiring some cosmetic upgrades closed for $205,000. The house is on a level and open lot of .75 of an acre. The house maintains 3 bedrooms and 2 bathrooms in nearly 2400 sq. ft. of living space. It was on the market for 54 days.

Up at 44 Jewett Hill Road a house with incredible views and well appointed sold for $3,400,000 after being offered for $3,950,000. This exquisite 6400 sq. ft. home features grand architectural details, 20 secluded acres with breathtaking views to the Catskill Mountains, stunning landscaping and a Gunite pool. Features include 5-6 bedrooms, 6 full and 2 half baths, 6 fireplaces, and a cherry paneled library. The expansive kitchen offers only top of the line appliances. The family room with high coffered ceiling is an intimately detailed space. There is also a private wine cellar and tasting room. Pretty special.

A small 2 acre parcel sold at 6 Weeds Dam Road. This open lot with views across to the neighboring pheasant farm has good light and room to build. The lot is level and closed for $50,000.

Jen Luning of my firm assisted the purchasers of 119 Gay Street a lovely cape style home on .61 of an acre. The house was built in 1957 and has 5 bedrooms and 2 full baths. It has wood flooring, living room with a fireplace and an attached garage. Listed for $325,000 the home closed for $278,500.

Over at 14 Williams Road I assisted the buyer of this one level home on .47 of an acre that was bank owned. The house needed considerable repair and yet maintains really nice views. It did not last long as it was sold with multiple bids within 23 days of listing.

The winner paid $135,000 with a list price of $109,000.

Up at 248 Gay Street a lovely 1992 country home on 18 acres sold pretty quickly as well. Having tested the waters last year the house came back on the market and sold within 3 days. The list price was $1,295,000 and it closed for $1,185,000. This sale is an example of pricing a house well to attract the buyers as well as maintaining a home in top condition. These two components provide the maximum positioning to sell a home.

So, with 4 bedrooms, 4 and a half bathrooms, a master suite on the main floor and lovely views it is no surprise this home sold quickly even if the house is over 20 years old.

Further up Rt 41 367 Gay Street sold. Again a buyer was found rather quickly (21 days) for this 1972 raised ranch that needs TLC. This lovely 1300 sq. ft. home has 3 bedrooms and 1 bathroom. It is sited on 3.4 acres of land, views across to the Twin Oaks hillside and abuts a large farm. It sold for $225,000 off a list price of $249,500.

Across to the east on White Hollow Road #151 closed again. In February of 2012 this 1400 sq. ft. contemporary sold for $235,000. With considerable upgrading and tweaking this 1987 contemporary with 3 bedrooms and 2 baths went back on the market for $329,900 in March 2014. After a number of price reduction and time off the market the home was listed for $225,000 and sold within 80 days for $220,000.

Directly next door at 147 White Hollow a log cabin home with a nice open kitchen, loft bedroom and wrap around deck sold for $205,000. This 1,073 sq. ft. cabin has 2 bedrooms and one bathroom and was built in 1981. It has 6 acres of hillside woods and family room on the lower level.

Across the street at 150 White Hollow Road is a great property with open floor plan and wonderful setting. Clean and neat interior with natural wood and southern exposure providing natural sunlight, this 1900 sq. ft. home has 3 bedrooms and 2 baths. The cape style home was built in 2000 and has a full basement and a separate barn. We sold this country property for $280,000 off an original asking price of $349,000.

35 White Hollow Road sold for $350,400. This 1377 sq. ft. home has 1000 sq. ft. of living space on the lower level as well. This ranch has 2 bedrooms and 2 and a half baths according to town records. There are 2 acres and a generator included in this private sale.

Another substantially large home sold at 344 Calkinstown Road this year. Set on 13 acres of woods, gardens and lawn this 4000 sq. ft. home was built in 2014. There are 4 bedrooms, 4 bathrooms and one half bath in this Colonial style residence. The kitchen features top of the line appliances and is sizable for both living room furniture and kitchen dining table. There is a more formal dining room as well as a considerably spacious living room with 12 foot tray ceilings, fireplace, moldings and other details.

The master suite on the second floor also offers a fireplace as a focal point. This property was listed for $2,475,000 and closed for $2,330,000. An additional 6 acres was included in this transaction.

Just west on the road at 318 Calkinstown Road a house on 6.62 acres sold for $1,350,000. This traditionally tailored colonial is a custom built 3-bedroom, 3.5 bath home erected in 2012. With over 3100 sq. ft. it maintains a spacious and open floor plan. Included in the design is a gracious foyer leading to a large living room featuring a fireplace. There is a separate library with custom moldings and built-ins. The master bedroom is well detailed offering a walkout onto a large bluestone patio.

We have one neighborhood listing. I have 10 Downey Road offered at $405,000. This country home is a naturalist's dream. Set on a private 9 acre parcel the house is surrounded by both the State of Connecticut State Forest and Audubon lands. The house began as a 1939 country cabin with a fieldstone fireplace. It was updated in the 1980s with a solarium and a main bedroom and bath. The house has over 2000 square feet and has 2 bedrooms and 2 baths. There is a nice deck off the living room as well as two outbuildings. Come take a look!

As one can read the activity has been busy in Sharon and in particular your neighborhood. Should you wish to know about additional listings in the town or other neighborhoods, just jump on our web site and click through Sharon. Or call us and we would be glad to help with a market perspective.

Respectfully,

Chris Garrity

David Bain

& the Sharon office- Jennifer Luning, Michele Pastre, Joanie Yahn, Ethan Watt 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.