Bain Real Estate Westwoods 2019 March Market Report.
Our Litchfield County's real estate market has grown nicely since the Great Recession ten years past. As the economy has strengthened buyer confidence has in turn responded positively. So, growth has ensued. Hence in 2016, we saw 58 sales in Sharon and in 2017 we had 50. We had 47 sales transactions in Sharon in the last 12 months and the drop might be attributable to declining listing levels as there are now only 62 listings available.
Weekend buyers are seeking affordable housing opportunities with a keen intent on not over-investing in a house that gets limited use. Sellers who have over-invested in their homes in the last 10 years are finding that buyers are not valuing the upgrades as much as sellers might have hoped.
What is interesting as the sales data reveals is the idea that the market is still price sensitive. Of the 47 sales last year 57% closed under $400K. 24% or 11 sold in the $400K-$700K price range, 3 sales occurred in the $700K to $1MM and 4 sales from $1MM to $2MM. Interestingly, there are 5 home sales in contract to sell presently. Two sales are under $250K, one in the $600K range and 2 sales in the $900K-$1.9MM range.
We have 9 houses to report selling in the neighborhood in the last 12 months.
75 Keeler Road is a Danish Trelaborg style home. This sophisticated home built in 1991 is hyper insulated and is sited towards the optimal solar orientation. The lower level hosts 2 bedrooms, both en-suite, with stairs to the open and spacious second level. 14 foot ceilings, exposed wood beams, beautiful floors are some of the quality details. A bank of windows offers long views stretching across a private meadow and the Macedonia Brook. The gourmet kitchen opens to family dining and sitting area. The upper floor is one whole master suite. There are 20 acres on Chester Keeler's old fields that are surrounded by conservation land in all directions. This property last sold in March of 2007 for $2,087,500 after years on the market. Finally, the listing price dropped from over $2MM to $1,495,000 and sold for $1,205,400 this month.
Next door just to the north at 63 Keeler Road I sold a 650 sq. ft. cabin on 20 acres. This unpretentious cabin is set on 20 beautiful acres of partially cleared woodland. Plain and simple, the log cabin is as bare bones as it gets with a stone fireplace, wood beams, wood flooring and a splendid porch. This was on the market for only for 14 days. It sold for $330,000.
A 6 acre land locked parcel of land off Keeler Road was sold for $6,000.
Toni Soule and I have listed a 27 acre parcel of land on Caray Hill Road for $395,000. This parcel is wooded, has considerable road frontage and has a nice private building site adjacent to large land holdings.
I have also listed a 24 acre parcel of land on Knibloe Hill Road that is private and offers wonderful valley views to the west. The property has a driveway roughed into the building site and it abuts "Wildwoods," 160 acres of open space owned by Weantinoge Heritage. It is listed for $550,000.
Down the hill at 312 Amenia Union Road right on the New York State line is a 4 bedroom Colonial style home of 2,200 sq. ft. that needed work. There are hardwood floors and a fireplace as well as a nice porch. With less than half an acre the parcel was small but level and had lovely gardens. It sold for $160,000.
26 Keeler Road is one of the last gentleman farms. It offers 3 dwellings: main house, a guesthouse and a farmhand apartment in the barn. It has 35 acres of pastures and woods. Two barns built in the 1800's have antiques beams, 8 horse stalls and 2 haylofts. Outside there is a riding ring, turnouts, run in sheds and fenced pastures. It hosts considerable frontage on the Macedonia Brook, water for animals or fishing for brook trout. All three houses will shine with further upgrades. The 1780 cape has 3 bedrooms and 2 full & 1 half bathrooms, plus antique pine floors and 2 fireplaces and a first-floor master suite. There is ample land to build on the top end pastures with views across the fields, over stone walls, and Macedonia Brook. This is listed for $845,000.
209 Westwoods Road #1 is an 1800 sq. ft. Contemporary home features, 3 bedrooms and 2 full baths built in 1984. The Great Room features a fireplace and cathedral ceilings and is open on to the new kitchen. There are 5.41 wooded and level acres that can be viewed from a stone terrace. It was listed for $465,000 and sold for $415,000 with only 51 days on the market.
199 Westwoods Road #1 is a house we sold in October of 2015 for $240,000. It recently sold for $310,000. This 3100 sq. ft. home sits on nearly 10 acres of woods. Originally built as a 3 bedroom Ranch in 1995, this home has a two-story 2000 addition, large bright rooms, an attached over-sized 2-bay garage, and a full and very useful basement which includes a shop area. Additional features include an en-suite first floor master bedroom and laundry, eat-in kitchen, sunroom with gas fireplace, and a wonderful large porch.
A circular drive accesses 92 Lambert Road that was listed and sold by Toni Soule and Asher Pavel of my firm. Amidst a wooded 5 acre parcel this 2-suite home is environmentally designed with bamboo floors, mini-split heat exchanger that cools, dries or heats and is state-of-the-art efficient. All exterior walls are insulated six inches thick and a 50 year metal roof. Passive solar maximizes southern winter sun and tree shade in the summer. Comprehensive design considerations included a whole house generator, 2 car garage plus an extra storage bay, and a dual heating system for safe air. Listed for $436,000 originally it was 2 years before selling at $311,500.
Toni and I have listed another neighborhood property, 110 Westwoods Road #2. This log cabin home on a lightly wooded 2.64 acre lot offers a country kitchen with copper countertops which shares space with a dining room and a side deck. There is a 3-season sunroom off the living room which itself has vaulted ceilings, large log beams and both a stone fireplace and wood stove. Master bed-bathroom is on main floor and another bath on the main level serves 2 additional bedrooms upstairs accessed via a balcony catwalk. There is a full walk-out basement with a stone fireplace and laundry room and storage. Home is being sold furnished for $335,000.
28 Bog Meadow Road is an extremely private 14 acre retreat –amidst 1000's of acres of protected wooded land. Custom designed by Peter Dalton Morris, this passive solar home offered 6' window walls that bring the outside in. Open kitchen and guest friendly layout with energy efficiency–all on one level. There are three bedrooms, 2 and a half baths with 2100 sq. ft. Set well in nature by a long winding road, it has naturalized ferns, beaver pond, and sturdy stone walls, a stone terraces and tennis. It was listed for $635,000 in 2016 and sold for $592,001.
I have listed 15 West Meadow Road, a perfect country home atop a large meadow and offering amazing western views. There is 2400 sq. ft. of quality details that grace the home with 12-foot ceilings, crown moldings, large Victorian styled windows and antique inspired hinges and knobs. Dark amber pine flooring throughout add warmth in each of the spacious rooms. The modern country farmhouse offers cozy areas and rooms that are large and spacious. The master suite on the main level opens to the huge screened porch. The second floor offers two uniquely different bedrooms served by a subway-tiled bathroom. The country kitchen is fabulous offering a full benched eating nook, fireside sitting area, a farmer's sink, stainless appliances and built-in antique cabinetry blending 1880's look with today's modern conveniences. $1,495,000.
A Cape Cod style home at 18 Boland Road sold for $290,000. Offering four bedrooms (2 located on first floor and 2 upstairs), 3 full baths, first floor laundry area, large dining area, living room, this house has nearly 1900 sq. ft. There is a partially finished walkout basement, deck, and a two car garage in this 1900's home. There are 2 acres of level land. It was originally listed for $397,000 and was on the market for a year.
114 Amenia Union Road is a discretely sited country home overlooking protected Nature Conservancy land. Either the large deck or screened porch is ideal for sunrise views and sounds of bird from the fen. Interior with hardwood floors, fireplace, spacious eat in kitchen plus a formal living room does not disappoint. Two main floor bedrooms and a large family room make it comfortable. Meticulously maintained, the house offers a spacious lower level that can serve as guest space and is complete with small kitchenette, living room/studio and bedroom. This walkout level offers considerable natural light and access to the large level and open back yard. Brand new 3-bedroom septic recently installed. Toni Soule and I have this listed for $595,000.
There are a few other offerings in the neighborhood and town so to keep in touch with these happenings or other areas in the NW Corner, visit on our website,www.bainrealestate.com. This letter and the others we write are posted there as well.
David Bain & Associates
Toni Soule, Marilyn DeVos, Michele Pastre, Karen Grimaldi, David Hurlburt, Priscilla and Asher Pavel
Please note that not all listings and sales transactions are through David Bain Real Estate
Bain Real Estate Cornwall Cream Hill 2019 Market Report.
Litchfield County's real estate market has strengthened nicely since the Great Recession, ten years past. As the economy has improved buyer confidence has in turn responded positively and thus growth has ensued.
So, how come we had 25 sales in 2017 and yet only 16 sales transactions in Cornwall in the last 12 months? While it may appear as a weakening market the drop is attributable to declining listing levels. With fewer homes available some buyers are reacting to the lack of inventory by pausing. But if there is a scarcity of homes available, the market forces will raise values more hurting those who are on the sidelines.
Currently in Cornwall we have 33 houses listed on the MLS for sale, 4 in the Cream Hill area. There are also 12 parcels of land listed, 2 in the Cream Hill area. We are reporting on 6 sales, 3 of which were not listed on the open market.
327 Cream Hill Road had been on the market for several years and the owner, Lois Redington, had recently passed away. This brick mid-20th century classic is sited back from the road on a 5 acre parcel. With 9ft ceilings and spacious rooms, including 4 bedrooms, it has a most gracious charm. Two of the bedrooms feature exterior doors, which means that there are 4 exterior exits plus the inside garage entry. It had been on the market since 2016 starting at $575,000 and had been reduced to and sold for $499,000.
285 Cream Hill Road had been listed by David Bain originally and some acreage was sold off 2 years ago. More recently a family member purchased the original family house on the remaining acreage for $285,000.
25 Cherry Hill Road, a 5 room cottage on just over 5 acres, sold in only 35 days at the full list price of $595,000. This scenic dead end road off Cream Hill is one of the most desirable areas in town. The selling price is well above the town's appraised value of $494,000! This small, 1696 square foot house was built in 1850 and features high ceilings, 3 bedrooms and 2 full baths. The large living room has a lovely fireplace, French doors opening to an expansive deck with views.
55 Cogswell Road was a family land transfer for $55,000.
92 Town Street was also a private transfer of 45.32 acres of partially wooded land featuring a comfortable house on a long quiet driveway for $2,075,000. Again the town appraisal is considerably lower on this property at $1,618,000.
46 Scoville Road is an 1850 colonial antique house on a quiet road sited on 7.44 acres. It had been vacant for several years and in need of significant repairs to be made habitable. The pricing reflected that at $285,000. It sold quickly in only 17 days at the full list price of $285,000.
92 Cream Hill Road is two separate homes on one parcel and had been listed for sale by my associate Dave Hurlburt, but instead he leased it! The owner already had a long term tenant in the apartment over the garage and this log cabin rental more than covers his expenses so he is happy with tenants for the time being.
We do have 2 parcels of land for sale in the Cream Hill neighborhood.
David Bain has listed 9.1 acres immediately behind Cornwall Consolidated School.
It is on a hillside, with pastoral views and is listed at $99,000.
I have a 14.45 area lot at 20 Stone Hill Road for $199,000. This level lot also has pastoral views, a drive way to the back to a potential house site. There are only 2 houses which have been built on this private road.
We hope you are enjoying the Cornwall lifestyle. If you are passing through West Cornwall, please stop by our office at 418 Sharon Goshen Turnpike for a chat and a cup of coffee or hot chocolate. We'd like to touch base with you.
And the rest of our Cornwall crew:
Dave Hurlburt, Asher Pavel, Heidi Kearns
Please note that not all listings and sales transactions are through David Bain Real Estate