Bain Real Estate 2019 November Cornwall Bridge Market Report
The market is healthy and vibrant, depending on how your house is priced! Yes, sales are up from 10 years ago in the midst of the Great Recession when we saw only 20 sales. There were 49 sales that have transpired in the last 12 months. The average day on market is also lower than those trying to sell in 2009. That said, the average buyer's motivation to purchase is mercurial. Why? Take your pick-the economy, millennial attitudes, or an older housing stock? It matters little. What matters is pricing your house properly to find a buyer.
In fact, in 2009 of the 20 houses that sold 14 of them had at least one significant price reduction and only 6 houses sold without reducing their price prior to selling. Then the average sales price on 20 transactions was $700,000. And the number of days on the market average was 174 days.
In the last twelve months, however, 49 houses have sold with 24 homes reducing their price at least once before selling and 22 closed for their initial asking price. The average sales price was $500,000 from 49 sales. The average it took to sell these homes dropped to 154 days on market.
There are 8 homes in contract presently. There were four property transfers that were not on the public market. Here are the sales that happened in the last 12 months.
An undeveloped 10.87 acre parcel with frontage on both Northrup and Silver Hill Roads with stone walls and rock outcroppings sold. Septic testing has been completed. It sold for $100,000 after being on the market for four years and originally listed for $275
6 Silver Hill Sold- $250,000
This barn style home offers 3 bedrooms and 2 baths in 1040 sq. ft of living space
Set on a wooded 2 acres, the main living is on the second level.
It had been on and off the market for the last 6 years.
14 Silver Hill Sold-$300,000
Offering 3 bedrooms, 3 baths, the master has a full bath & walk-in closet.
Native stone fireplace anchors the living room which opens to an enclosed porch.
Set on 3.79 acres. It has a 3 car garage and shares a driveway.
Original list was $539,000 and spent 396 days on the market over the last two years.
539 Cornwall Bridge Rd. Sold-$329,000
Built in 1994, this log home offers 4 bedrooms with 2 full baths
and 2 half bathrooms in 1296 sq. ft.
Set on over 3 acres and right atop a brook
It is private, has a deck and a barn.
Listed for $339,000. It sold within 30 days.
2 Route 7 is a commercial building known
As Nora's Nursery and has sold privately for $165,000
The property is presently being
renovated. It had been on the market in prior years.
34 River Road Sold-$395,000.
"Dogwood" an 1850 1-bedroom, 1 bath 975 sq. ft. converted barn overlooks a
brook on 4.43 acres. Great room has 20' ceilings and a wall of windows
Painted cabinets, concrete counters & stainless appliances.
Three season heated porch. Listed at $437,500 for only 82 days.
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 .
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David Bain & Associates
Toni Soule, Marilyn DeVos, Karen Grimaldi, David Hurlburt, Heidi Kearns, Priscilla and Asher Pavel
Please note that not all listings and sales transactions are through David Bain Real Estate