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Date Archives: November 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
November
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbors,

Our colorful and warm autumn has continued well into November. Real estate buyers are still looking well into the fall, but offers are slow to materialize and most always well below the asking price. Mortgage rates are still below 4% but predictions are that will not hold long into 2016 if the Feds raise the now nonexistent interest rate.

Traditionally fall has been the best time to buy, buyers want to be in for the holidays and many sellers do not want to carry a property through yet another winter. There are currently 35 homes for sale in Cornwall and 2 under contract to sell. Last year at this time we reported 3 sales and 2 houses and 1 lot for sale. This year we are reporting only 1 sale in the neighborhood in the last twelve months and 6 homes for sale.

Presently in Cornwall we have 35 homes for sale with 3 in contract to close. This past year we saw 15 sales of homes in comparison to the 22 closings we experienced in the 2013-2014 period.

 


239 Great Hollow Road
was listed at $168,500 and sold for $150,000. This property includes a small red cottage in need of a complete renovation and a garage and barn which had been nicely redone across the street. The property offers an attractive view bordered by Nature Conservancy property. The sale included an engineered report for a new septic system to be installed.

 

Leading the list of properties for sale,the Cornwall Castle at 1 Castle Road is now priced at $6,000,000 reduced from its original list price of $8,500,000. Jeff Jacobson has written a charming history of this property which may be obtained from the Historical Society or the Cornwall Library. The Castle is petite at 8400 square feet when compared to the gigantic European castles of an earlier era which makes it very livable, comfortable and snug for the family today that wants a romantic retreat from city life. It has a licensed helipad, heated pool and lovely stone cape pool house, chauffeur's 2 bedroom apartment over a large heated garage and a gatehouse with 2, 2 bedroom apartments. All this is at the end of a one lane 1 mile long driveway which meanders alongside a brook. It is offered with 275 acres.

 


295 Great Hollow Road
is a 2 bedroom cape on 9 acres which backs up to Castle's acreage. Each bedroom has its own bath; the front acreage consists of a lawn, nice landscaping and a pool with the back acreage being wooded. There is a 2 car garage under the house. This is my listing at $375,000.

 

  
8.62 acres of land on Great Hollow actually continues off the road and up behind 239 Great Hollow. This is Rick Meehan's listing, lightly wooded with a rough driveway up to a level building site. $135,000

 

 


34 Great Hollow Road
is a handsome new contemporary farmhouse of 3840 square feet with 4 bedrooms and 3 and ½ baths. First floor ceilings are 9' high adding to the spacious feeling in each room. Special design finishes shine in each room, the kitchen has top of the line appliances including a Verona stove, crown moldings, beautiful wood floors and a standing seam metal roof. There is an accessory apartment over the garage. Views include Mohawk Mountain ski area. This is David Bain's listing at $1,200,000.

 


4 Cornwall Hollow Road
at the 4 corners of Routes 4, 128 and 43 is my listing of the original Dr North house. It sits on almost 4 acres and has 2 large outbuildings, a barn and a studio all rented for storage. A standing seam metal roof was the first of several improvements the current owner made before putting this property on the market. It has 4 bedrooms, eat in kitchen, 2 fireplaces, 2 porches and a grand front hall and it does need more work to restore it to its former glory. The price has been reduced from $225,000 to $195,000.

 

142 Great Hill Road is Dave Fairty's new listing.  It is a large contemporary 3 bedroom house which sits on top of the world with views in every direction.  The master suite has its own porch. The other 2 bedrooms share a hall bath. Built in 1989 this house is centrally air conditioned, oil heat, gourmet kitchen with double ovens, gas cook top and Sub Zero refrigerator freezer. It's been recently reduced from $849,000 to $799,000

 

 The world of real estate is constantly in flux: ups and downs. Here are some statistics that provide some perspective of the volatility of our market.

 

Status: Nov 2014-2015 Closed Homes (15)

 

 

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

2,287

$634,780

$227.92

$534,986

$192.06

.85427

210

Median

3

2

2,280

$449,000

$169.85

$380,000

$155.23

.86604

149

Sum

 

 

 

$9,521,700

 

$8,024,788

 

 

 

 

 

Status: Nov 2013-2014 Closed Homes (22)

 

 

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

2,310

$515,191

$224.65

$467,486

$204.55

.90327

192

Median

3

2

1,983

$407,250

$220.60

$389,750

$199.76

.90909

162

Sum

 

 

 

$11,334,199

 

$10,284,700

 

 

 

 

We look forward to more ups in the coming days one of which is Thanksgiving! We enjoy sharing our news of your neighborhood with you each year and invite you to stop by our West Cornwall office for a visit. We shall soon have a brand new sidewalk in place work is in progress due for completion before T-day. Be sure to visit www.bainrealestate.com to learn what is for sale in Litchfield County. We look forward to your questions and referrals.

 

Cordially,

 

Priscilla Pavel

Chris Garrity, David Bain and the Cornwall office

Asher Pavel, Rick Meehan, Heidi Kearns

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

November
1

PLEASE TO CLICK 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 year in Sharon. In the last 365 days, there have been 52 sales transactions in Sharon 10 more sales than the prior year(42). To provide historical perspective; in 2011 there were 43 sales and in 2012 there were 37 home sales transactions. So we are continuing a steady but slow growth path and returning good values.

There are 83 home listed for sale presently and 7 homes in contract to sell.

Status: Closed (42) Sales in Sharon October 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

4

3

2,680

$830,331

$248.50

$723,886

$216.03

.86999

190

Median

3

3

2,259

$474,000

$203.80

$436,875

$177.49

.89711

160

Sum

 

 

 

$34,873,900

 

$30,403,219

 

 

 

 

Status: Closed (52) Sales in Sharon October 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

6,480

$3,950,000

$1,562.50

$3,400,000

$1,500.00

1.22839

931

Avg

3

2

2,517

$767,871

$262.36

$675,945

$234.40

.89541

171

Median

3

2

2,059

$312,000

$193.17

$280,450

$173.09

.89506

105

Sum

 

 

 

$39,929,300

 

$35,149,150

 

 

 

 

Here is what has happened in your neighborhood.

 

164 West Cornwall Road , a well appointed log cabin style home set well off the road on a 4 acre parcel that is adjacent to the Appalachian Trail sold for $371,000 . This home with approximately 1,267 sq feet has three bedrooms and two bathrooms. Built in1984 it has large windows, fireplace, front porch and a three-bay garage with storage room atop.

 

Directly next door we have 26 acres of natural beauty surrounded by state forest land on West Cornwall Road . From this high perch of considerable elevation (over 1100 feet) long south and eastern views are attainable. The parcel is listed for $199,000 with Rick Meehan of our Cornwall office.

 

Rick also sold the neighboring house at 184 West Cornwall Road . Sited atop a 2.13 acre parcel of land with lovely old plantings, this 1384 sq. ft. house has 3 bedrooms and 2 bathrooms. It required considerable renovation and upgrading and the $162,500 sales price reflected those needed improvements.

 

Freddie Mac has a program dubbed "First Look Initiative" which is a way to encourage users rather than investors to buy their bank owned properties. So, for the first three weeks that 229 West Cornwall Road was listed, this house was eligible. Within 55 days the house that was listed for $149,000 sold for $115,000. This 2177 sq. ft. cape style home has 3 bedrooms and 1.5 bathrooms and is in good repair. There are wood floors and carpeting throughout, exposed wood beams, fireplace and a screened porch.

 

240 West Cornwall Road is an antique saltbox that my associate Priscilla Pavel has listed. The first floor bedroom has a bath adjacent while there are two rooms on the second floor. There is a large pantry off the kitchen. This is a simple 1816 style home with nice appointments such as 6 over 6 windows and built-ins on a lovely 2 acre parcel.

It is available for $169,000.

The sale of 293 West Cornwall Road should dispel the concept that all "foreclosed" properties are in need of renovation. This home was completely rebuilt in 2007 and updated throughout. Beautiful refinished pine floors, custom kitchen and bathroom, cedar shake roof, new windows and wonderful stone work made this house move in ready. Set on 2 acres the parcel was cleared and opened in 2007. The house has nearly 1700 sq. ft. offering 4 bedrooms and 1.5 bathrooms. Arguably this home was over improved at an unforeseen and unfortunate time in the market and subjected to the disaster that was the Great Recession; this property was purchased for $290,000 from Wells Fargo.

Rick Meehan sold his listing at 296 West Cornwall Road , a small ranch that looks out upon the covered bridge. The 2 bedroom, 1 bathroom house deserves some loving and skilled attention to become a great investment or as a pleasant place to live. It's a perfect starter house or retirement home with 1094 sq. ft. wood floors and a full basement. With just under an acre, the grounds are easy to maintain. It was listed for $154,400 and closed for $142,000.

A 1920's gambrel roofed shingle home sits high on the hill looking out over the Housatonic River and the West Cornwall Covered Bridge at 319 Route 7. Dramatic views from both porches are seen. The main level porch is enclosed and heated while the lower level porch is part of a separate in-law or rental apartment. With over 3280 square feet the house has great space with 6 bedrooms and 4 bathrooms on 2.2 acres. Priscilla Pavel of my Cornwall office listed the home originally for $375,000 and it is now ready to sell at $299,000.

Up at 7 Swaller Hill Road, Ethan Watt of the Sharon office has a lovely country home listed. It is an idyllic country cottage as it is both simple and functional to enjoy. This 2 bedroom cottage is secreted away on a private 5 acres with a dramatic southern view of the Housatonic River, valley and hills beyond. There is a level open field surrounding the cabin with apple trees and native flora offering a pretty yard. Stone walls, pine groves and hiking trails are all available from the property. There is a native stone fireplace, large deck, oak floors and a walkout basement ideal for a studio. The home is mechanically updated and easy to maintain and available for $285,000.

Further up Swaller Hill and off a quiet graveled road, Birch Lane , is where we have listed a level and wooded 4 acre parcel ready for development. The wooded lot with power available at its border is listed for $130,000.

396 Route 7 is a genuine country cabin perched dramatically above the Housatonic River with views over the water and the valley below. Sited on 10 acres of woods and level land this is a perfect country 1950's log cabin. Woods, river and serenity are found here along with a pool and four electrically lit pool cabanas. The house has 5 bedrooms and two bathrooms and a period native stone fireplace. It is listed for $315,000 and due to close next month!

A 2.7 acre parcel of land was purchased just north on Route 7 for $85,000.

Beside a brook on a nicely sized quiet and cleared 5 acre crest of a hill at 449 Route 7 is this custom built Greek revival style home. Thoughtfully laid out and appointed this house is the work of a master woodworker. The details are numerous and subtle. Built-ins, detailed moldings and trim work, raised paneled walls and coffered ceilings are touches that are rare to find in homes today, certainly rare at the $660,000 sales price.

With 4 bedrooms, 3 and one half bathrooms this 2004 residence offers nearly 3000 sq. ft. of fine home building. Additionally there is a 34x48, 2 level barn with full bath, offering the option as a guest house, party barn or studio/workshop.


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.

November
1

PLEASE CLICK HERE TO SEE THE MAP.

Sharon home sales were 20% ahead of last year's pace with 54 homes selling in the last 12 months against 43 the previous period. Last year, I reported 80 homes for sale with 6 homes in contract to sell while today we see 74 homes listed for sale with 5 in contract to sell. The local real estate market is getting healthier incrementally!

Additionally, the last 12 months has seen 7 land sales according to the CTMLS and the town records. There are 25 parcels of land in various acreage configurations on the market. It is especially nice to see the uptick in interest in land.

So it appears the current trends are positive! Here is what is going on.

30 Knibloe Hill Road is an idyllic 1800's country home impeccably remodeled. With a spacious kitchen, main floor bedroom and intimate living room this is an excellent choice to enjoy the country in style. A second floor suite is sun-filled and spacious. The back porch overlooks a long stream, level open field and mature trees. In top condition the home is easy to maintain. $650,000 is the asking price.

84 Knibloe Hill Road: Never offered for sale, this 120 acre section of a local family farm maintains a 1500 sq. ft. custom home. The upper woodlands are perfect for another home offering views of the valley and distant mountains. With open meadows, pond, brooks, views, woodlands are all magical. This would make a great family compound and is listed for $1,350,000.

12 Caray Hill Road is an amazingly private country retreat and a perfect Thanksgiving gathering spot. Nearly 13 acres snuggles up against a 200 acre preserve with trails. The house overlooks beaver wetlands. This 2 bedroom modern cottage offers only the best of nature. It is incredibly well crafted with a native stone fireplace, custom paneling and a covered front porch. Offering views, privacy and nature it is easy to maintain and close to Metro North. I have this listed for $395,000.

Over on Keeler Road David Almquist has listed this wonderful 33.73 acre parcel with streams, old stone walls, and beautiful old trees. The driveway has been roughed in to the potential building site with distant views. On one of the most sought after roads in Sharon is where one can find privacy and quiet. Offered at $450,000.

89 Westwoods #2 is an estate in the making. The views from atop the property are distant and will invite the Catskills into your home. Primarily wooded the private parcel of 83 acres has a driveway to the top, horse stable with a one bedroom apartment above plus a hay barn and fenced pasture for animals. $1,800,000 listing with Toni Soule.

199 Westwoods Road #1 is a 3100 sq. ft. house with 3 bedrooms and 2 baths on 9 acres. The home has oak flooring, large basement, generator ready and spacious decking. Last listed for $250,000 by my associate Eve Iselin, it closed for $240,000.

102 Westwoods #1 sold for $675,000. This sleek and sophisticated country home has both peace and privacy. A first floor master suite plus upstairs master and two more guest rooms offer plenty of sleeping space. It has a lovely kitchen, screen porch, stone fireplace, outdoor shower, and even an elevator from garage below to main floor.

Further east at 1 Joray Road is a Cape Cod style home that has dramatic flair as well as a practical layout. The house was built in 1988 and has been impeccably maintained with oak floors and nice details. There is a formal dining room, open, eat-in kitchen and a 20 x

25 vaulted ceiling living room. There are 3 bedrooms, 2 bathrooms and a large finished room in the lower level. The property entails 2 acres. In 2011 the house closed for $288,000 after being on the market for 195 days. This time the house was listed for 268 days at $299,000 and sold for $268,000.

335 Cornwall Bridge Road sold this past year for $140,000. A lovely antique home set along rt. 4 and abutting the Audubon Nature Center this place requires considerable restoration which is being undertaken presently. There are 3 beds and 2 baths in this 1900 sq. ft. 1850's home. There is still some antiquity left with wood floors and exposed hewed beams. It includes an antique barn on the half acre parcel.

Directly next door, at 337 Cornwall Bridge Road, an 820 sq. ft. ranch sold for $215,000. The two bedroom, one bathroom structure that was built in 1965 is in poor condition. The 2.47 acre parcel abuts the Nature Center.

36 Hooperfield Road is a carefree single level home in mint condition. The open floor plan has vaulted ceilings, wood floors, stone fireplace and room for entertaining. There are 3 bedrooms and 2.5 bathrooms in 2300 sq. ft. The mature plantings boast fruit trees, native species and rare shrubs designed by Kent Greenhouse. The lawn is both level and sweeping and detailed in stone walls. Offering western sunset views the house basked in sunshine. Wonderful screened porch overlooks the natural surroundings. Joanie Yahn and I have it listed for $520,000.

An elegant 1796 Colonial home in a bucolic setting with views over protected land at

20 Westwoods Road #1 sold for $1,245,000. This home offers the charm of an antique with modern amenities, including both first and second floor master suites and three other bedrooms. Multiple fireplaces, wood flooring, built in custom cabinetry and other antique detailing is seen in this 3500 sq.ft. home. There is also a three bay garage with finished space atop and a swimming pool on the 5.51 acre parcel.

15 West Meadow is a chic, understated farmhouse on 7.5 Acres. Surrounded by meadows and offering westerly orientation, this home has natural sunlight, sunset views, meadows and solar gain. It maintains an open and airy with quality and detail throughout like fireplaces, transom windows, moldings, screened porches and wood flooring in nearly 3000 sq. ft. This home has 3 bedrooms and 2 bathrooms was built in 1996 and sold for $1,075,000.

There are other properties listed in the neighborhood and should you wish to know more go on line to our website www.bainrealestate.com or give us a call, we'll be glad to help.

 

Happy Holidays and best in the coming year!

All the best,

Chris Garrity

David Bain & the Sharon office

Jennifer Luning, Michele Pastre, Ethan Watt, Joanie Yahn & 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.