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Long Mountain

Bain Real Estate - Market Update Home

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Bulls Bridge | 4 Posts
Cornwall Bridge | 6 Posts
Cornwall Hollow | 4 Posts
Cream Hill | 5 Posts
East Cornwall | 5 Posts
East Warren | 5 Posts
Ellsworth | 5 Posts
Kent Hollow | 4 Posts
Kent Village | 4 Posts
Long Mountain | 2 Posts
Merryall | 2 Posts
Mid Cornwall | 5 Posts
Mudge Pond | 5 Posts
Route 7 South | 3 Posts
Segar Mountain | 6 Posts
Sharon Mountain | 4 Posts
Sharon Village | 4 Posts
Silver Lake | 5 Posts
Skiff Mountain | 4 Posts
South Kent | 3 Posts
Spectacle Lakes | 5 Posts
Waramaug | 4 Posts
West Cornwall | 7 Posts
West Warren | 5 Posts
Westwoods | 4 Posts
White Hollow | 4 Posts
May
1

PLEASE CLICK  HERE TO SEE THE MAP. 

Dear Neighbor,

We welcome May!! What a winter it has been. I'm glad to see the sudden burst of green and early tulips and late daffodils together! Nice.

With the warm weather things have definitely picked up. Nationally the growth of values in many regions is palpable. The Northeast has been slower than other parts of the country and locally the values are tightening. Locally, the selling time has dropped to 6 months (5-7 months indicates a normal market). And we at Bain have had another productive year with strong sales, so thank you.

In all of New Milford there are currently 128 residential homes on the market. In the last year 114 homes were sold. So the residential picture is bright. There are 25 land parcels currently available and in the last year only one sold! It was a 5.63 acre parcel at 6 Delia Lane off of Ridge Road that sold for its asking price of $100,000 in 4 months. That lone land sale tells a lot about our current building market.

Your neighborhood is a small part of the above scene in New Milford. Here's a look at the volume in the neighborhood from the hay days of 2004 to the present:

2004 had 15 sales

2005 had 20 sales

2006 had 20 sales

2007 had 14 sales

2008 had 9 sales

2010 had 5 sales

2011 had 6 sales

2012 had 6 sales

2013 had 9 sales

2014 had 7 sales

2015 had 9 sales

Now let's look at what happened here in the last 12 months:

Starting in the upper left hand corner of the map at 7 Logans Run, a 1,991 sq. ft. ranch with 4 bedrooms and 2 baths built in 1997 on 2.34 acres sold in November for $265,000 down from it's list price of $279,900.

6 Mud Pond Road , a bank sold 2032 sq. ft. 3 bedroom and 2.5 bath colonial built in 2003 on 4.1 acres sold last December after 2 years on the market for $240,000 down from its original list of $285,000 in July, 2013 and its last list price of $249,900.

Two properties were sold together at 77 and 77A Browns Forge Road. The house is a 1444 sq. ft. contemporary with 3 bedrooms and 2 baths built in 1991 on .65 of an acre. It has a screened porch overlooking the in-ground pool. It sold in December for $340,000, down from its list price of $369,000 in September. An additional interior lot of 2.19 acres with a Right of Way over the RR tracks was also sold for $30,000.

Across the street at 9 Quail Ridge Road a 2440 square foot colonial with 4 bedrooms and 2.5 baths built in 1986 on 6.7 acres sold in July for $249,000, its list price.

178 Indian Trail Road is a unique "green" contemporary of 4000 square feet set into the ground with 3 bedrooms and 2 baths, soaring ceilings and views to the Catskills from the mountain top 51 acre site. It even has a small landing strip. It sold in September for $675,500 down from its original list price of $885,000 in 2013

Over on the east side of the "hood," off of West Meetinghouse Road Nature View Lane had two sales. 1 Nature View Lane is a 2544 sq. ft. colonial with 4 bedrooms and 2.5 baths built in 1986 on 1.27 acres and sold for $283,500 down from its list of $299,900.

5 Nature View Lane is a 3344 sq. ft colonial with 4 bedrooms and 2.5 baths built in 1987 on 1.54 acres that sold for $316,000, down from its list price of $329,000.

Down at the south end of the map, 417 Long Mountain Road, a 2302 sq. ft. colonial with 4 bedrooms and 2.5 baths built in 1999 on 1.54 acres sold for $335,000, down just a bit from its list price of $349,900,

In the meantime keep posted on all developments by checking into our website, www.bainrealestate.com. These letters are all posted there with their maps under "Neighborhood Stats" if you want to check into past letters or see what's going on in other neighborhoods. Recent sales are there and all the listings in CTMLS. It's easy to search by town or by price or both. If we can be of service to you or your friends, we are here 24-7. Have a healthy summer!

Respectfully,

David Bain

 

This graph shows the number of successful transactions

in our key towns of Cornwall, Kent and Sharon in 2014

Please note that not all listings and sales transactions are through David Bain Real Estate.

May
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

We welcome May!! What a winter it has been. I'm glad to be writing this 13th annual letter about the activity in your neighborhood. Then I get to get into the garden!

Things are definitely picking up. So far this past year selling times have dropped to under 6 months. There has been a 14% growth in Litchfield County transactions in 2013 and a 17% growth in dollar sales while appreciation rates are relatively level. We at Bain have had another successful year, out producing our competition in our service area.

Here is the neighborhood volume from the hay days of 2004 to the present:

2004 had 15 sales

2005 had 20 sales

2006 had 20 sales

2007 had 14 sales

2008 had 9 sales

2010 had 5 sales

2011 had 6 sales

2012 had 6 sales

2013 had 9 sales

2014 had 7 sales

 

Let's look at what happened in the last 12 months:

Starting at 170 South Kent Road, a 1596 sq.ft. ranch built in 2000 on 2.61 acres with 3 bedrooms and 2 full baths sold last May after 2 years on the market for $270,750 down from it's original list of $299,900 and its last list price of $285,000.

At 616 Long Mountain Road I listed this 1233 square foot 2 bedroom, 1 bath post and beam home on 3.38 acres of level land with a 1 bedroom guest house and barn. It was also next to the railroad tracks. It sold in August for $242,900, down from its list price of $295,000.

Right next door at 602 Long Mountain Road I listed Isaac Stern's former home, a 5399 square foot 5 bedroom 5.5 bath home that dated back to 1790. It also had an old barn converted into a 2 bedroom 2 bath guest house with a lower level used as a pool house, and a large, heated pool all on old landscaped grounds of 8.729 acres with a brook running through. The buildings needed much renovation and finding the right buyer took time. It finally sold in September for $525,000 with estimates of several 100's of thousand dollars to renovate. It had started on the market with another broker in 2011 at $1,275,000.

Off of Brown's Forge Road at 6 Quail Ridge Road a 2752 square foot colonial was built in 1986 with 4 bedrooms and 2 baths on a 2.07 acre lot. It sold this March for $215,000 down from its original list price of $299,000 and final list price of $229,000.

Moving over to 385 West Meetinghouse Road a 1373 square foot ranch built in 1977 with 4 bedrooms and 2 baths on 7.38 acres with a barn, pasture and a pond sold in 3 months last August for $230,000, down from its list price of $249,000.

And finally, off Hine Road at 4 Northern View Drive, a 2072 square foot colonial with 3 bedrooms and 2.5 baths built in 2008 on 2.36 acres sold in March of 2013 (missing in my last letter) for $270,000, up from its list of $269,900!

I would like to bring to your attention a property I have listed at 170 Indian Trail. It's a 4006 square foot spacious 3 bedroom 3 bath contemporary with a pool privately situated on 13.5 acres listed for $785,000. It's the perfect weekend home. See it on our website, search "-olmeta".

In the meantime keep posted on all developments by checking into our website, www.bainrealestate.com. These letters are all posted there with their maps under "Neighborhood Stats" if you want to check into past letters or see what's going on in other neighborhoods. Recent sales are there and all the listings in CTMLS. It's easy to search by town or by price or both. If we can be of service to you or your friends, we are here 24-7. Have a healthy summer!

Respectfully,

David Bain

 

Please note that not all listings and sales transactions are through David Bain Real Estate.