Bain Real Estate 2020 January Mid Cornwall Market Report.
Happy New Year! We are excited for the new decade! Real Estate in Cornwall continues to be most desirable and business is picking up by contrast with a number of years ago. In my last letter to your neighborhood I was able to report 3 house sales and 1 land purchase, plus one land lot listed for sale. In this letter, I am reporting on 7 house sales and 3 land sales.
Overall, we have seen 23 residential transactions in the last year which is consistent with sales figures for the last four years. There were 7 land sales last year a greater number than most towns in Litchfield County; though 4 of these sales that we transacted were JP Morgan Chase Bank selling off foreclosed land on Valley Road.
Presently, there are 23 residential properties listed for sale and 12 parcels of land listed. While there is more consumer confidence, purchasers still employ caution when looking for a house hence pricing properly is still key (pun intended)!
350 Sharon Goshen Turnpike is an 11 room antique house on a little over an acre of land. Just up the road from the Covered Bridge, it was originally listed at $170,000 and sold for $115,000. With 4 bedrooms and 1 full and 1 half bath, it really needs a lot of work to bring it back to comfortable living in the 21st century but will reward all efforts. It sold in 130 days.
3 Hart Hill Road is a 14 room Colonial antique with a large newer addition. Located on 10 acres, it also has a barn which contains an apartment. The house has been updated with 6 bedrooms, 6 full baths plus a half bath. Originally listed at $885,000 in September of 2018, it sold for $640,000 after 304 days on the market.
16 Cogswell Road was a Bain listing shared by Dave Hurlburt and myself. This charming Cape Cod cottage featuring 2 bedrooms and 2 full baths was listed at $399,000 and sold 107 days later at $390,000. Located on 1.53 acres, the property also featured a barn with a 2 car parking garage on the first level and a spacious apartment on the second floor. Additional sheds and a full house generator completed the offering.
5 Cornwall Hollow is a ranch house with 2 bedrooms and 2 full baths on 18.64 acres with a large detached garage. Listed at $299,000 and sold at $279,000 in just 160 days only tells the end of the story. It had been off and on the market for several years, originally priced above $500,000.
Cornwall Hollow lot of 10.27 acres, just across the street from #5 (same owners) was listed at $15,000 and sold for $25,500 in just 5 days. The assessed value of this property is $67,700.
56 Todd Hill Road is a 3 bedroom ranch on 4.5 acres. Originally listed at $295,000 it closed in 73 days at $280,000. The property includes a barn with room for a 3-car garage.
21 Cemetery Hill Road is a spacious, private home on a hill overlooking the village of Cornwall with a long driveway over the 4 acres. The house has 2 bedrooms with the master on the first floor and 2 full baths plus an attached garage. Listed at $310,000 and closed at $293,550 in 161 days.
24 acres on Popple Swamp Road was David Bain's listing for $205,000 and it was a complicated sale that went in two parcels: one of 20 acres for $160,000 and the other a 4 acre parcel that went to the Cornwall Conservation Trust for $30,000 who already had an abutting 10 acres held in protected open space.
59 Pierce Lane is a handsome Contemporary house on 5 acres which was listed for $450,000 and sold in 58 days for $425,000. The property also includes a large barn with studio space on the upper level.
256 Dibble Hill Road was a private house sale of a strikingly handsome Contemporary house on 12.63 acres. There are also 2 small sheds and a detached garage. The house has 2 bedrooms and 2 full baths, high ceilings and a fireplace. It sold for $685,000.
As noted, the most telling fact in relating these recent sales is that proper pricing typically results in an expedient sale.
We hope you enjoy our annual reports and look forward to serving you in the future. For further info please go to www.bainrealestate.com or stop by our West Cornwall office if you have any real estate questions which we may answer. We always have coffee and hot chocolate to offer if you visit.
And stop in next door and see our new neighbor, the Electric Bike Shop. They opened for business back on Labor Day Weekend.
Priscilla Pavel and
My Cornwall colleagues: Dave Hurlburt, Heidi Kearns and Asher Pavel
Please note that not all listings and sales transactions are through David Bain Real Estate
Bain Real Estate 2020 January Studio Hill and Cobble Market Report.
The New Year provides a review of how Kent's real estate values have unfolded in 2019. Little has changed from 2018 with 49 closings and 53 sales in 2019. A surprising statistic is the significant reduction in inventory. Listing inventory is down over 15% YTY. There are only 33 homes available. What are the implications? We think that market constriction will likely bolster house values and make land, which has yet to recover from the 2006 recession, all the more intriguing.
Nearly 60% of Kent sales in 2019 were below $400K. The $400K-$1MM range earned 30% of the market transactions while 10% (5 sales) transpired above the $1MM mark.
Those who've been waiting on land to regain values lost over the last 13 years may find land sales rebound in 2020. The lack of house listings and a limited number of land offering (16 parcels) is a positive sign, though a cautionary perspective is advised as there were only 2 land transactions in Kent this past year.
Here it is what has transpired in your neighborhood since our last letter.
119 North Main Street- Sold-$620,000
With antique farmhouse charm and character of its 1860 vintage, this home has been modernized for today. Four+ acres with open land, mature trees and mountain and sunset views. This 3-bedroom home has a living room with fireplace, dining room, sitting room and updated kitchen. There is a wrap-around porch and patio overlooking designed gardens. A few steps away is a 24' x 36' barn/guesthouse with original beams, new doors and windows and a full bath ideal as a studio or workspace as well.
49 Kent Cornwall Road- Sold- $215,000
2+ bedroom home with a large kitchen that opens to both a living room and a dining room is spacious enough for an extra sitting area as well. Both bedrooms, each with their own private full bathroom, are located on the first floor and have access to a back deck that overlooks the level backyard. Upstairs, there's an additional room that could be used as a home office.
71 Kent Cornwall Road- Sold-$147,000
This investment opportunity (this has been a rental for past 7 years) requires attention and updates. It has two bedrooms upstairs with bath in-between. Downstairs has light filled kitchen and small area for a table plus a living room with a fireplace. It has a decent backyard with brook and shared well with neighboring property. Bain associate, Toni Soule represented both sides in the sale.
80 Kent Cornwall Road- Sold- $325,000
Colonial home that was originally built in 1915 but has been upgraded.
There are 4 bedrooms and 1 bath in the over 2000 sq. ft. home. Set on 1 acre.
This was a direct sale as per town records.
107 Kent Cornwall Road- Sold $927,500
1738-1740 Colonial on 2 acres, renovated 20 years ago. The antique chestnut floors, beamed living room with fireplace and dining room have been kept intact. There's a family room with fireplace plus a screened-in porch overlooking the pool. The master features a fireplace, en suite w/shower & claw foot tub. Second floor entails 5 en suite bedrooms. Finished 3rd floor with full bath and used as a study or bedroom. A guest house entailing a living room with fireplace, kitchen, screened-in porch, and 1/2 bath plus a master suite featuring soaking tub and walk in shower.
36 Studio Hill Circle- Sold -$360,000
Sitting on a knoll at the end of a curving driveway surrounded by lawn and easy care gardens. With 3 bedrooms and 2.5 bathrooms in over 2400 sq. ft. this thoughtfully architected home has an open floor plan with the master suite on the first floor. Spacious living room, formal dining room and a comfortable kitchen opens directly onto the spacious back deck which looks out on a beautiful lawn, gardens and protected woods. The 4.5 acres abuts over 200 acres of Cobble Vista Preserve on three sides. I listed this lovely property.
17 Woodin Road- Sold-$650,000
Modern styled home with an open floor plan and large expanses of glass bring the outdoors into every room. The kitchen has granite counters, an eating area with fireplace, a large great room with fireplace, and a formal dining room. In addition, the master bedroom suite also located on this level incorporates a fireplace, sitting room, two large closets, and private master bath. One level up is a large loft area currently used as a home office while the lowest level entails two bedrooms and a recreational room. House includes an indoor pool, backup generator, a wrap around deck and bluestone patio.
11 Woodin Road- Sold -$520,000
Contemporary atop a hill has windows and French doors offering vistas and provide each room with lots of natural light. The open floor plan has a living/dining room featuring a fireplace. The kitchen features soap stone counters and stainless appliances. The main floor master opens to an expansive wrapped deck. A terrace with a swimming hot tub and outdoor fireplace surrounded by beautiful stonework are sited out back. The lower level has four rooms, a full bath and a raised hearth fireplace and built–in book case. There is a large two car garage attached. I helped the purchaser in this transaction.
26 Green Hill Road- Sold- $595,000
At the end of a private road this modern country home has long views. There are 3 bedrooms in this 2400 sq. ft. built in 1998. The main entry foyer opens to a large living room with a stone fireplace featuring wood floors, and doors that open to an English garden. The bright kitchen has granite counter tops and a breakfast bar, plus a dining room and sitting area. The master suite has a nice private view and the bath has with double sinks, large walk in shower and walk in closet. The upper level features two generous bedrooms and full bath.
92 Muller Road- Sold- Sold- $450,000
Atop 950 feet of elevation and nestled in the hillside, this home is for an adventurous spirit. Hike abutting land trust trails, splash in the seasonal waterfall or chill on the elevated deck with treetop and sunset vistas. The modern rustic home has an open layout on the main living floor and three spacious bedrooms on the first floor. A bank of large sliding doors opens on two sides to the deck and outdoor living space. There is a 1 car garage, basement for storage and a third floor loft for a private office. My partner Chris Garrity sold this house in 60 days.
146 Kent Cornwall Road- Sold- $375,000
Chris Garrity sold this 1940's Connecticut colonial. Custom carved dental moldings decorate the exterior transepts and gabled ends. Leaded glass windows outline the front door with a fan style leaded window gracing the top. There are 4 bedrooms and 1.5 bathrooms in the nearly 2000 square foot home. There is a formal dining room with built in corner cabinetry. The living room is anchored by a fireplace with uniquely designed mantel and a lovely sun room. The well-designed kitchen was renovated recently and offers top of the line appliances and granite counters. The office leads to an attached two car garage with ample storage above.
11 Chimney Rock Road- Sold- $254,080
Mid-century 1,514 sq. ft. ranch on a quiet town road with wonderful seasonal western views of St John's Ledges across the Housatonic River Valley. Featuring a spacious, light-filled living room with fireplace that opens onto a large outdoor deck, kitchen with a handy pantry, one full & one half baths and three bedrooms all on one level. The lower level has space that could be used as a shop or for storage and access to a 2-car garage. It's sited on a level .91 acre parcel with specimen trees.
22 Chimney Rock Road- Sold- $592,500
Apple Pond is both a rustic and a light-filled modern home. The living room's vaulted ceiling expands the space filled with a wood stove, built-in sitting area and an outdoor deck. This area includes a dining area with its own access to a spacious screen porch, a galley kitchen and a cozy guest room. The master bedroom suite takes full advantage of the views and utilizes a walk-in closet, private bath and a home office. The lowest level offers two bedrooms that share a hall bath, separate laundry room and a work area. After using the pond there is a convenient outdoor shower. Chris Garrity assisted the purchaser in this transaction.
40 Botsford Road- For Sale- $395,500
Nestled on a wooded hillside at the very end of a small town road, this home is set on 12.74 private acres with a brook tumbling through it. The living room has a wood beamed and vaulted ceiling with fieldstone fireplace and French doors opening to the stone and wrought iron patio and western views. The dining room has arched windows, beamed ceiling all detailed in pecky Cyprus wood. There is a charming cook's kitchen and three en suite bedrooms. The master bedroom is on the main floor with an attached sun room. Modern touches of central air and a new roof are comforting. I have this listed.
There are other offerings on the market and if interested call us, stop by the office or visit our website at www.bainrealestate.com. One can find not only the aforementioned listings and sales but also one can find this letter and all other Kent neighborhood letters archived on our site too. And if you wish to follow our blog for new listings, sales and other interesting real estate tidbits join up from our website.
David Bain &
Chris Garrity-Toni Soule, Marilyn DeVos, David Hurlburt, Scott Harvey, Karen Grimaldi, Heidi Kearns and
Asher and Priscilla Pavel
Please note that not all listings and sales transactions are through David Bain Real Estate