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Email Post to a Friend: Bain Real Estate 2022 October Cornwall Cream Hill Market Report

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October
5

 

Dear Neighbor,

In the spirit of getting back to normal, our neighborhood letters are out again with hopes of keeping you informed on local sales, offerings, trends and the Bain perspective.

The pandemic unleashed a flight to Cornwall from NYC, swelling our schools, absorbing our housing inventory and pushing our values to levels not seen in a long time, if ever. 

All of this has some buyers and many more sellers on the sidelines waiting.  Waiting for what is the question.  The idea that the market will be flush with listings soon is not realistic. It is a seller's market.  We predict this new paradigm will be here for a number of years to come.

In the whole of Cornwall there were 28 property sales in the last 12 months, 8 of those were land sales and 7 were over $1 million! The previous 12 month period saw 55 property sales with 12 land sales and 10 properties sold over the $1 million mark. Going back a third year when we were moving into Covid times, there were 29 sales with 7 being land sales and just 5 over $1 million. Currently there are only 15 properties available in Cornwall and 7 of those are land offerings and 9 are over $1 million leaving only 6 residential properties for sales below that mark. Slim pickings!

In Cream Hill there were 9 sales in the last 12 months. This dramatic drop is not due to lack of interest, but lack of inventory. Despite fewer listings, purchasing desire is strong, sales are brisk and competition s fierce.  Here is what has transpired:

 

432 Cream Hill Rd                       6/24/2021                   $1,100,000

Originally built in 1896, this Antique Colonial is located in the truly scenic Cream Hill section of Cornwall. The first floor of the home includes a light-filled sunroom, rustic kitchen that opens to a dining area with woodstove, plus a living room with fireplace. The house was expanded and now includes a library and primary bedroom suite on the main level with private bath and walk-in closet. The property consists of 8 private acres and includes a large fully-finished detached barn with studio.

 

293 Cream Hill Rd (Lots 1&2)      3/8/2022                  $350,000

This parcel contains a meadow overlooking the Taconic Range to the north. The property owner sold two lots as one, restricting the lot on Cream Hill to a no build lot, but allowing access to the rear pasture lot to the best building site with views.

 

336 Town St               7/7/2022                   $700,000

This was a direct sale of a cottage originally built in 1920 on 7.70 acres with 2192 sq. ft. and updates containing 3 bedrooms and 2 full baths

 

148 Cream Hill Rd               8/29/2022                   $1,500,000

This historic Colonial has undergone a complete interior renovation in the mid 1990's with precise attention to detail in regard to preservation of character. Kitchen has wood flooring and beams from a Brooklyn Sugar mill, marble countertops, period plumbing and bath fixtures, period door knobs and hinges. Views from every window on all 3 living floors. Property includes extensive gardens including a farm orchard on over 24 acres and post-and-beam barn.

 

193 Town St               11/17/2021                   $1,380,000

This English Country Cottage home comes with 3 bedroom, 2 bath on 3 private acres. A light-filled dining room includes ceiling to floor bookshelves. Spacious living room with a fireplace, reading nook with bookshelves, and French doors that open up to the patio. Kitchen includes butcher block counters, breakfast area and full bath. The upstairs there are 3 bedrooms, full bath, and laundry. A generator, raised beds for gardening, and stone walls complete this unique property.

 

191 Town St               6/1/2022                   $855,000

This charming English Country Cottage is a gem on one of Cornwall's most coveted roads. A peastone driveway leads to an enchanting 3 bedroom, 2 bath home situated on 3 private and level acres. An inviting front patio is outlined by a decorative stone wall creates an oasis for cozy outdoor entertaining. Inside, the main level features a light-filled dining room off to the right with ceiling to floor bookshelves. To the left, the front hall leads to a spacious living room with a fireplace, reading nook with bookshelves, and French doors that open up to the patio. The lovely kitchen includes butcher block counters, breakfast area and full bath. The upstairs includes 3 bedrooms, full bath, and laundry. A generator, raised beds for gardening, and stone walls complete this unique property.

 

51 Cream Hill Rd               7/6/2021                   $22,000

This was a wooded 1 acre pre-existing non conforming parcel that was not a town approved building lot approved building lot at time of sale. With approval by Torrington Area Health

Department it may be possible to get town approval for a house site.

00 Town St               8/11/2021                   $260,000

Long road frontage and at the rear of the property are long Eastern and Western views from this excellent Cornwall location.

This 67.2 acre parcels offers some old pasture, some wetlands and several very desirable and mostly flat house sites along the ridge line.

Lengthy driveways will be required.

 

62 Sharon Goshen Tpke               6/14/2021                   $575,000

This Split level 1516 sq. ft. split level home was built in 1960 on 13.8 acres. A beautifully renovated four-bedroom three-bath home atop 13.8 open and lightly wooded. The open floor plan incorporates the living room with a wood-burning fireplace, large window with expansive sunset views, dining room, and kitchen with breakfast bar.  It sold privately on 6/17/21.

 

We hope you are well and keep strong spirits. We feel so fortunate to be here, continuing working and thriving in this very curious time. Thank you.

And if you are considering selling this seems to be an unprecedented time to capitalize. Call us for a free assessment of your house, office or condo. Or stop by the office or visit our website at www.bainrealestate.com

All the best!

David Bain

 

David Bain & Associates- Chris Garrity, Debbie Bain, Toni Soule, Erin Hull, Amy Danis, Amy Longley, Elisa Waysenson & Heidi Kearns