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Date Archives: November 2016

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

Dear Neighbor,

It's time to look at the past year to see what happened to the upper end market. The number of sold properties is up 27% and the average sales price is slightly up from last year. The average selling period of days on the market (DOM) is slightly longer by 2 weeks. All in all the market is slowly improving even if you were one of the 120 upper end properties that did not sell. The good news: 65 sales in a year are the most we have seen since 2006-07!! Here's some perspective over the last 12 years for the upper end market in the 11 towns we serve in Northwest Connecticut: *

 

Year # for Sale Average List price # Sold Average Sale Price DOM

'04-'05 117 $2,248,000 48 $1,634,481 146

'05-'06 162 $2,325,407 65 $1,747,561 171

'06-'07 164 $2,316,129 105 $1,960,938 178

'07-'08 221 $2,599,338 59 $2,306,338 201

'08-'09 179 $2,086,619 35 $1,743,175 253

'09-'10 155 $2,115,980 54 $1,835,570 218

'10-'11 201 $1,595,000 48 $1,702,522 195

'11-'12 184 $1,887,029 57 $1,599,297 268

'12-'13 184 $2,345,057 54 $2,327,630 191

'13-'14 185 $2,145,011 62 $1,714,246 228

'14-'15 166 $1,954,571 50 $1,780,000 164

'15-'16 184 $2,400,000 65 $1,785,000 180

 

Town

Sold/for Sale

Sold/for Sale

Sold/for Sale

Sold/for Sale

Sold/for Sale Sold/forSale

Sold/for Sal

 

'10-'11

'11-'12

'12-'13

'13-'14

'14-'15 '15-'16

 

Bridgewater

3/19

3/11

1/12

2/13

6/10 7/13

 

Cornwall

4/10

2/10

1/8

3/9

1/5 0/9

 

Kent

2/7

4/14

4/15

6/10

2/16 4/13

 

Lakeville/Salisbury

9/20

9/28

10/23

5/22

9/24 15/27

 

Litchfield

3/25

6/24

4/22

9/23

6/25 4/18

 

New Milford

0/12

5/8

1/5

3/9

2/10 5/5

 

Roxbury

5/23

9/34

6/34

13/32

7/15 5/30

 

Sharon

7/17

8/17

4/22

8/17

12/13 4/15

 

Sherman

0/10

3/8

1/9

2/11

6/6 1/13

 

Warren

2/7

0/10

3/8

3/7

6/12 5/7

 

Washington

13/27

8/24

17/28

10/24

19/29 18/34

 

Total

48/177 (27%)

57/188 (30%)

54/186 (29%)

64/177 (35%)

77/166 (46%) 65/184(35%)

 

This second table gives a closer look at the upper end market in each town over the last six years.

Washington is back in the lead with the most sales with Salisbury in second place. It is interesting to keep in mind that New Milford has a population of 29,000 and Litchfield has a population of 8600 while the rest of the other towns have 3000 +/-. Arguably we believe there is no better place within 90 miles of NYC that offers so much as NW CT. We're blessed with such natural beauty, safe environment, many cultural amenities and interesting friends with whom to share it all. The demand to live here is solid and constant. We are the lucky ones.

On to the details of what happened in our five specialty areas in the last 12 months.

Kent had 4 residential sales:

1. 127 Anderson Road is a 3008 sq. ft. colonial built in 1700 (owner's date) with 99.48 acres

with a large barn complex. It has 4 bedrooms and 2.5 baths and was totally cleaned. It sold last February for $1,900,000, down just a bit from its list of $2,000,000.

2. 45 Richards Road is a 2844 square foot contemporary with 4 bedrooms and 3 baths of 3 lake front acres that sold last October for $1,550,000 down from its original list price of $2,950,000.

3. 100 Main Street was Chris Garrity's listing. It is an in town 5345 square foot 6 bedroom, 4.5 bathroom colonial built in 1800 on 11 acres and recently beautifully renovated in just the last few years. It sold in July for $1,035,000 down from its list price of $1,250,000.

4. 164 Carter Road is a 1764 square foot cape with 3 bedrooms and 2.5 baths built in 1996 on 36.29 hill top acres. The land was divided into 5 legal lots all with great views. It sold in September for $1,400,000, down just $99,000 from its original list price.

We have 3 properties for sale in Kent:

A. 64 Howland Road is a 3074 square foot 5 bedroom 3.5 bath colonial on 18.3 acres with sweeping views over pasture to distant hills. It's offered at $2,100,000.

B. 12 Stonewall Lane is a spacious 6345 square foot post and beam home with 4 bedrooms and 4.5 baths builton 11.72 acres with horse barn and fenced pastures. This is a very private setting in an upscale neighborhood. $1,975,000.

C. 171 Bulls Bridge Road is a 3224 square foot contemporary colonial with 4 bedrooms and 2.5 baths built in 2003 on 5 acres practically abutting the Bulls Bridge Golf Course. Pool and great view. Offered for $1,399,000

 

Sharon had 3 residential sales:

1. 111 Cornwall Bridge Road is a 6200 square foot 1920 colonial with 4 bedrooms and 5.5 baths built on 9.5 very private acres. Sophisticated and chic. It was listed for $3,750,000 and sold in July for $3,100,000.

2. 10 Boland Road, is a 3785 square foot antique with 4 bedrooms and 4 baths on 5 acres originally built in 1880 and recently renovated and a large barn added for a great room. It was listed in July for $1,445,000 and sold in June for $1,300,000.

3. 84 Knibloe Hill Road was a Chris Garrity listing with 1506 square foot hand crafted farm house with 2 bedrooms and 2.5 baths built in 1988 on 120 acres. It was listed for $1,350,000 and sold in December for $1,200,000.

 

We have one property for sale in Sharon:

A. 43 Ellsworth Road: Picture a lovely old farmhouse (3400 square feet, 5 bedrooms and 2.5 baths) with a gracefully detailed front porch, an old shed and an old dairy barn all on a level 33 acres of hay fields, orchards and gardens. There you have it. The 1870's home is preserved nicely with amazing details. Offered at $1,300,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cornwall had no sales in the over $1M market this past year.

We have two for sale in Cornwall:

A. On 1 Castle Road we have the Valley Castle (8 bedrooms and 7.5 baths) with 275 acres including pastures, brooks, ponds and views. A mile long private drive gets one to the Castle, guest house, caretaker's house, and stables . Spectacular! $6,000,000.

 

B. 340 River Road is an artistic renovation of a midcentury house into a contemporary craftsman retreat. It has 3680 square feet, 4 bedrooms and 3 baths. Great detail work throughout. The location of the house is remote at the end of 1/2 mile long asphalt driveway. Very private. Housatonic River frontage. Offered at $1,770,000

In Warren there were 5 sales.

1. 11 Lakeview Drive is a 8113 square foot colonial with 5 bedrooms and 5.5 baths built in 1999 on 9.25 acres with a pool and a view out over the lake,. It was listed in May or 2014 for $4,750,000 and sold the March for $3,600,000.

2. 22 Strawberry Ridge Road is a 1968 Contemporary with 4 bedrooms and 3.5 baths of 2.4 acres. The house was purchased in October of last year for $725,000 and recently redone by Harold Tittmann. Listed in April for $2,195,000, it sold in 2 months for $1,950,000.

3. 121 North Shore Road is a 2356 square foot colonial with 4 bedrooms and 4 baths built in 1954 on 2.36 acres. Great lakefront. It was listed in September 2015 for $2,600,000 and sold October,2016 for $1,925,000.

4. 33 Arrow Point is a 1872 square foot ranch with 3 bedrooms 3.5 baths built in 1993 on a 1 acre lot. It was listed in October, 2015 for $2,995,000 and sold in June of 2016 for $1,875,000

5. 15 Melius Road is an 1759 colonial with 3005 square feet, 4 bedrooms and 3 baths. It came with 3..83 acres, a barn, pool and pool house. It was originally listed for $2,150,000 in April of 2009 and sold this April for $1,558,500.

We have two for sale in Warren.

A. 383 Lake Road is a 3088 square foot Colonial with 4+ bedrooms and 4 baths originally built in 1983, but extensively remodeled with a custom crafted post and beam addition in recent years. It comes with 30.12 acres, a brook and miles or trails. $1,350,000.

B. 127 Cornwall Road is a 5045 square foot colonial farmhouse with an attached 5000 square foot two story barn. The house is not totally finished on the inside. It comes with 123 acres of groomed pasture and woods, several brooks and ponds. Great trails. $2,700,000

 

If you or your friends would like more information on any of these sales or any listings offered in this price range, please call us. We have three offices in Kent, Sharon and Cornwall and we list and sell more in those towns than any other broker. We will show you or your friends the entire market, regardless of town or agency. Should you wish to read this letter online or our letters of the previous year's sales, you can find them at www.bainrealestate.com. Look for "Neighborhood Sold Stats." You can now also easily search all MLS listings in the NW corner on our website.

 

Enjoy the fall. I'll be in touch in a year.

Sincerely,

 

David Bain

Chris Garrity

And the Kent Office -Toni Soule, Dave Fairty, Marilyn DeVos, Scott Harvey, Debbie Bain & Eve Iselin

 

 

This graph shows the number of successful transactions

in our key towns of Cornwall, Kent and Sharon in 2015

 

  

*Statistics taken from CTMLS.

 

 

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

November
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor:

We were fortunate to enjoy such a beautiful autumn season. The leaves turned with warm colors glowing and the home buyers are also turning up here to see what we have to show them. It is still a buyers market and the buyers are well aware of that fact. So far it translates into more sales than ever: 14 recorded sales since our last MidCornwall letter to you when we reported 5 home sales and 1 land sale.

Here is the report:

216 Furnace Brook Road languished on the market for over 3 years. The original list price had been $319,000 and it closed at $205,000. This small 5 room Victorian house has charm, a marvelous kitchen, first floor master and over 11 hilly acres to roam. The new owners have removed several large trees which surrounded the house opening it up to light.

16 Furnace Brook Road is a large 10 room 1760 colonial, with 5 bedrooms, 3.1 baths all sited on over 19 acres. Called the Ballyhack Farm it sported a new septic system, chef's kitchen open to a sitting room, original details include paneling, double height ceilings and a screened porch overlooking gardens. It features central air, whole house generator, zoned heat, 6 fireplaces and a detached 2 car garage. Listed and sold at $875,000.

24 Todd Hill Road is a 4 bedroom Cape built in 1956 on 2 acres. It features hardwood floors, large screened porch, attached 2 car garage, waterproofed basement and a large yard. I had originally listed this house 4 years ago at $395,000, it had been reduced to $249,000 and sold at $220,000.

 

82 Cemetery Hill Road is a house I sold just prior to the market crash in 2008 to the sellers for $178,000. It had been listed for 2 yrs beginning at $249,000 and reduced to $199,000 by Rick Meehan. This 3 bedroom ranch with a studio apartment and 2 car garage on the lower level just sold for $180,000.

 

96 Cemetery Hill Road was a private sale at $210,000. This ranch house is set back from the road with a 2 car garage and a barn behind the house.

A 4.71 acre lot on Cemetery Hill Road listed at $235,000 has sold for $185,000. A very interesting fact is that CL&P pays a lease of $22,285.37 annually through 2021.

46 Cornwall Hollow Road was my listing and I also brought the buyer. This spacious 1900's colonial farmhouse was once the doctor's house for Cornwall. It is on the corner with 2 exterior barns which generate income. The house itself features 9' ceilings on the first floor, 5 bedrooms, 2 porches, an eat-in kitchen, formal dining room and living room all with hardwood floors. Listed at $225,000 it sold for $170,000.

 

83 Todd Hill Road is an 1808 colonial farmhouse which had been in the same family for generations. It is sited on 1 acre with a fenced ½ acre formal garden and a detached 3 car garage/workshop. It features a full width sun porch, 4 bedrooms and 2 full baths. My listing at $199,000 and sold for $175,000.

 

99 Sharon-Goshen Turnpike is a beautifully sited barn which has been converted into a 2 bedroom house with great views and a lovely pool. It offers space for enlargement. Listed by Rick Meehan at $390,000, David Bain brought the buyers in at $295,000.

277 Sharon Goshen Turnpike is a small 1 bedroom cottage which so ld to the tenant for $160,000.

 

58 Dibble Hill Road is a handsome large 1890's colonial farmhouse on 10 acres featuring 5 bedrooms, 4 baths, front porch, first floor master bedroom with bath en suite and a dramatic dining room with 11' ceiling.. The road is quiet, detached barn/garage, stone walls, brook and fields plus woods. Listed at $1,200,000, I brought the buyers in for $900,000 cash.

101 Dibble Hill Road is a brand new 3596 square foot colonial on 5 acres. It features 4 bedrooms, 3.1 baths, wide board floors, gourmet kitchen, open floor plan and custom cabinetry. Listed at $899,000 and sold at $875,000.

 

175 Dibble Hill Road, formerly known as the Hilltop B& B, was my listing for 2 years originally at $995,000. The stone house has 2 bedrooms with baths en suite, 2 stone fireplaces and a large stone great room with a patio and million dollar views. The property sold in 2 pieces. 15 acres sold for $300,000 to an abutting neighbor. The house on 16 acres sold for $400,000.

With 14 sales reported you may wonder what is left to sell! Well at this time we can tell you about 6 properties for sale.

52 Cemetery Hill Road is my listing, reduced from $395,000 to $299,000. It features a 1950 3 bedroom house on 10 acres with a detached 3 car garage, a small barn, a writer's cabin, a gazebo and a pond. We have an accepted offer so I'll be able to report that sale next time.

91 Cemetery Hill is David Bain's country cape with 3 bedrooms, 2 attached garages and several outbuildings at the corner of Great Hollow Road. Once llamas roamed here! It is close to Mohawk skiing and trekking and ready for a new owner . $249,000.

19 Great Hollow Road is a brand new listing which features a brand new great room! It is my listing on 2.5 acres with 3 bedrooms and 1 bath. The new great room could become the new family room or a first floor master. That will be a decision for the new buyers to make. It's listed for $225,000.

At the corner of Todd Hill Road and Sharon Goshen Turnpike I have a 1.2 acre lot for sale at $49,000. It features Christmas trees and backs up to conserved land.

On Cream Hill Road immediately behind the Cornwall Consolidated School, David Bain has 9.6 acres listed for $125, 000. It is a wooded hillside with a lovely building site near the top which would offer pastoral views.

5 Twixt Road at the edge of the village is a 3 bedroom home owned by the late Joan Titus. It has been well maintained, has living and dining rooms plus an office and was recently reduced to $240,000.

We invite you to peruse all the farm letters at www.bainrealestate.com . If you are in West Cornwall please stop by for a visit and a cup of coffee. We look forward to your calls and referrals.

 

Respectfully yours,

   

Priscilla Pavel

And David Hurlburt, Heidi Kearns, Rick Meehan and Asher Pavel

 

 

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