Bain Real Estate Cornwall Village 2019 February Market Report.

Dear Neighbor,

PLEASE CLICK  HERE TO SEE THE MAP

It is a very cold winter indeed; which is certainly not news to anyone in Cornwall today. But what may be not as well known is that sale prices have been firming up hinting that we have finally rebounded from the depths of the Great Recession that swamped us 10 years ago.  Since then as consumer confidence grew, so did buyer confidence.  With buyer confidence come sales, shrinking inventory, increased demand and stronger values. This is clearly evident with only 28 residential homes available for sale which is traditionally low. A cautionary note to insert, we are now seeing daily volatile financial world swings and that will affect our real estate values.

The upper end of the market (sales over $1 million) is the outlier in the county as well as town.  There are sales in this end of the market but they are not as brisk as the past few years. Another manifestation we are seeing is that significant investments in one's home over the past 10 years may prove to be a personal benefit but an investment that may not always be recouped upon a sale.

This past year Cornwall registered 23 house sales and 2 land sales.  2 of the sales were in the village and an additional 6 sales were in the vicinity, so I have included them all here.  Several of the sales were not open on MLS, but privately accomplished.

 36 Bolton Hill was a family sale/transfer.  This is the first lot as one drives into the village from Route 4 and includes the Cornwall Village Post Office building.  The lot is 1.1 acre and the building is 925 square feet on the main floor.  The recorded sale price is $85,000.

1 School Street at the corner of Bolton Road is a charming 1957 3-bedroom colonial.  It has a view looking over its lovely gardens and an attached 2 car garage.  The dining/living room has a great fireplace and the basement level offers a full walkout and is an ideal office or studio space. Originally listed at $425,000 and reduced to $350,000, it closed for $370,400.

56 Todd Hill Road may have set the record for the quickest sale in Cornwall; listed at $296,000 in September, it closed in November.  This ranch style house offers 3 bedrooms, 2 full baths and a security system.  The house was built in 1930 on 4.5 acres.  It also offered a detached 3 car garage and a barn in a lovely neighborhood.  Final sale price: $280,000.

103 Cemetery Hill Road was better known as the Berkshire Country Store and took many years to sell.  We have lamented its close and hope it will soon reopen.  It sold for $450,000.

34 Great Hollow Road was a true "spec" house.  It is a large colonial, 3516 square feet, with 4 bedrooms, 3 full and 1 half bath on 3 acres in full view of the Mohawk Ski Area.  Above the attached 3 car garage is a studio apartment which adds potential rental income.  The house offers both a deck and a screened porch and rare for Cornwall, cell service!  $899,000 was the asking and it sold at $825,000.

45 Valley Road was a private estate sale of an 1855 colonial with 6 rooms, 3 of them bedrooms.  Located on an acre, major construction is underway.  It sold for $230,000.

46 Valley Road was another private estate sale of an 1860 colonial on 2 acres.  This house is a bit larger, over 2000 square feet, with 7 rooms, 4 bedrooms 2.1 bathrooms but it sold for $150,000.

I listed 295 Great Hollow Road a quaint 1951 cottage on over 9 acres for $350,000. It has 2 bedrooms and 2 full baths and a spacious open kitchen, dining and living room with 2 fireplaces.  There is a large deck off the living room that leads to gardens and a swimming pool.  The house has a 2 car garage on the lower level.  It has long view potential and borders the Cornwall Castle property. It sold for $305,000.

We received a letter recently from some former Cornwallians, Betsy and Christopher Pope, who wanted us to report that they had given the Cornwall Conservation Group a 12 acre lot on Popple Swamp and Pierce Roads.  That happened in 2015.  The land value is $314,000. We wish to thank them for their generosity and love of Cornwall.

If you have any questions or comments, please share them with us.  If you find yourself in the neighborhood of 419 Sharon Goshen Turnpike, please stop in for a cup of coffee or hot chocolate and a conversation. Also, please visit us on the web at www.bainrealestate.com, and follow us on Facebook and Instagram. 

Respectfully yours,

Priscilla Pavel

And the rest of the Cornwall crew:  Dave Hurlburt, Asher Pavel, Heidi Kearns