Bain Real Estate 2020 January Mid Cornwall Market Report.

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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 21^st 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.

Cordially,

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