Bain Real Estate East Warren 2018 July Market Report.

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Dear Neighbor

The Warren market continues strong.  Last year we reported 27 residential sales while this past year had 26 (of them were over $1M and 10 were below $500,000, a nice balance).  The economy has reacted well to the tax cuts and we hope that will bring continued growth to our market.  It is an election year so we will have to wait to see how things settle out.   

In your neighborhood there were 14 residential sales last year!

 

Let's start up north on the east side or Route 45 where #245 sold last August for $555,000, just under its list of $599,000.  It was a 3544 square foot Cape with 4 bedrooms and 3 baths of 2.91 acres, an in ground pool and some nice views.

156 Cornwall Road was a 4 room, 2 bedroom 840 square foot one level home built in 1982 on the back of 3.9 acres with a barn and small shed all at the end of a blacktopped longish drive.  A wonderful retreat listed and sold in 3 days by Dave Hurlburt from our Cornwall office for $239,000.

127 Cornwall Road is a magnificent 123 acre parcel with pastures, woods, manicured trails and long road frontage (1700') with a tall, thick stone wall running the length.  The 5045 square foot house is under construction with a large attached barn.  It's a magnificent estate in the making and sold for $2,000,000.




54 Cornwall Road is a 992 square foot 2 bedroom 1.5 bath ranch built in 1960 on 1 acre.  It sold last July for $125,000 at its list price in just 25 days.




23 Cornwall Road is a 2626 Square foot 3 bedroom 2.5 bath one level home built in 1962 on 3.05 acres.  This was one of my listings and had its problems.  We had to take down trees that engulfed the house, put in a new septic and fill-in its unused pool.  It sold in March for $250,000, down from  its list price of $295,000.                                                          

4 Cornwall Road or the "Warren Hamlet" or "Downtown Warren," a collection of 5 commercial spaces is under new ownership.  The new owner is making improvements: paving, new windows, and general sprucing and hopes to open soon with a deli and some vibrant stores.  Stay tuned!  My listing, my sale!  It closed in April for $375,000

139 Town Hill was a bank sale originally listed by the bank for $289,900 in July of 2017. After 5 price reductions to $249,900 it finally sold in April for $230,000.  It had 1794 square feet with 3 bedrooms and 2.5 baths built in 1954 on 2 acres.  There were problems with septic and condition.

105 Town Hill is a 1536 square foot hi ranch with 3 bedrooms and 2 baths built in 2007 on 2.24 acres.  It sold in March after 151 days on the market for $320,000, just $4,000 below its list price.

170 Lake Road is a 3012 square foot colonial with 4 bedrooms and 4.5 baths built in 1985 on the back of its 5.8 acres.  It was in great condition and had a first floor master and brook and barn.  It sold last July after just 42 days on the market for $609,000, $30,000 below list price.  

     

231 Lake Road is a1740 antique colonial of 3302 square feet, 5 bedrooms and 2.5 baths recently moved back from the road, enlarged and renovated on 10.6 acres with barn, pond, pastures and woods.  A perfect blend!  It sold last November for $1,250,000 after 406 days on the market, down from its original list of $1,750,000.

110 Rabbit Hill is a new listing of Priscilla Pavel's in our Cornwall Office.  It's a 1660 square foot cape built in 1937 with 5 small bedrooms.  The best part is its location and its 9.33 acres.    It's under deposit after just 8 days on the market.  Nice work Priscilla!  The list was $325,000.  We'll tell you the sale price next year.

13 Jack Corner is a 2196 square foot 3 bedroom, 2.5 bath home built in 2004 on 2.51 acres and sold directly last August for $325,000. It sits beautifully on its 2.51 acres.



   

286 Woodville Road is a 1075 square foot log ranch built in 1980 on 3.5 acres with 3 bedrooms and 1.5 baths.  It was bank listed for $259,900 and sold for $183,227.

On the land side of the ledger, things are slower with just 10 parcels currently being offered for sale and 4 of those are over 25 acres.  On the sale side, there were only 3, and all were high end neighborhoods.  Just one of those sales was in your neighborhood.

59.6 acres on the east side of Lake Road went for $475,000.  It did have a blacked drive up the side of the hill with potential views.

If you or your friends need any real estate help, please keep us in mind. You can find all the properties for sale on our website, www.bainrealestate.com . You can also receive this letter and other neighborhood real estate information by leaving your email address there or sending it to me at db@bainrealestate.com. Have a great summer! I will write again next year.

Respectfully,

David Bain and Chris Garrity

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