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December
3

 

Bain Real Estate 2019 November Upper End Market Report

 

Dear Neighbor,

 

It's time to look at the past year to see what happened to the upper end market.  This letter is an update of the activity between October 31, 2018 and today within the context of the 11 towns we service in Northwest Connecticut. There are a lot of statistics, but they do tell us things about the market. 

 

The market is strong even though there are still 196 properties over the $1M mark that have not yet sold.  Note the average sale price continues to grow and the average days on market is up by almost 37 days.

                   

Salisbury and Washington had the best year with the most sales with Roxbury in third place.  Washington again has the most unsold properties on the market for the last 6 years.  It is also interesting to track the progression of both listings and sales in each town to see where the action has been.  The percentage of sold properties to the number of unsold properties on the market is a little low this year.

   

We believe there is no better place within 90 miles of NYC that offers so much as NW CT.  We're blessed with such natural beauty, safe environment, many cultural amenities and interesting friends with whom to share it all.  The demand to live here is solid and constant. We are the lucky ones.

 

On to the details of what happened in our four specialty areas in the last 12 months.

 

Kent had 4 residential sales:

  1. 152 Ore Hill Road is a 3800 sq. ft. colonial with 4 bedrooms built in 1986 on 7.4 acres with long SE views that sold in May for $1,500,000, down from it's original list of $2,395,000 after 569 days on the market.
  2. 109 Mountain Road is a 8038 sq. ft. colonial with 7 bedrooms built on 125 acres set high on a hill with long southern views that sold in May for $3,100,000, down from $3,950,000 after 213 days on the market.
  3. 155 Camp Flats Road is a 4063 sq. ft. contemporary set privately on 45 acres with good southern views in the heart of south Kent. It was purchased by its neighbor without going on the market in January for $1,588,000
  4. 34 Macedonia Road is a 6,251 sq. ft. contemporary with 7 bedrooms built on 17 pastoral acres on the edge of the village that sold in September for $1,900,000 down from it's original list price of $4,950,000 after 811 days on the market.

 

 

Sharon had 7 residential sales:

  1. 230 Mudge Pond Road is a 3740 sq. ft. colonial with 4 bedrooms built in 1992 on 6.28 acres that sold in July for $1,371,000 in 160 days, down from its list of $1,750,000.
  2. 15 West Meadow Road, one of our listings, is a 2400 sq. ft. farm house with 3 bedrooms built in 1996 on 7.51 acres with long western views over protected lands that sold in April for $1,250,000 after just 87 days on the market, down from its list of $1,495,000.
  3. 85 South Main Street is a 7500 sq. ft. contemporary with 5 bedrooms built on a 10.5 acre flag lot with lots of privacy in 2006. It sold in April for $1,600,000 in 444 days, down from its original list of $2,485,000
  4. 174 Amenia Union Road is 171 acres of rolling pasture in the NE corner of Lambert Road and Route 41. Productive farm land that has Mill Brook running through its middle. It sold in April without going on the market for $2,425,000.
  5. 75 Keeler Road is a Trelleborg contemporary with 3 bedrooms in 4118 sq.ft. built in 1991 on 20 acres abutting state forest with Macedonia brook running through it. It also had a pool and a marvelous green house.  It sold in March for $1,205,400, down from it's original price of $2,195,000 and 605 days on the market.
  6. 33 South Main Street is a 6,239 sq. ft. colonial with 4 bedrooms built originally in 1964 on 5,27 acres. Originally on the market for $2,150,000, it became bank owned and sold in February for $1,085,000 after 326 days on the market.
  7. 13 Herb Road is a 3988 sq. ft. contemporary with 4 bedrooms, pool and tennis court built on 5.94 acres in 1974. We sold it this November for $1,300,000 after 415 days on the market, down from its original list of $1,698,000

 

Cornwall had two sales in the over $1M:

  1. 61 Castle Road, this was out listing and our sale. Known as the Cornwall Castle, its main house was 8400 sq. ft. with 8 bedrooms. On the market for years at prices above $5M until Chase Bank took it over and listed it for $1,900,000 with 275 acres.  Un inhabited for years, it needed a lot of restoration. We sold it in 65 days in June for $1,600,000 and are happy to say it is being beautifully restored.
  2. 28 Reed Brook is a 6500 sq. ft. 5 bedroom contemporary built in 2007 on 18 private acres. It sold in September for $2,725,000, down from $3,950,000 after 730 days on the market.

 

In Warren there were 2 sales.

 

  1. 15 Melius Road is a 3004 sq .ft. colonial built in 1759 and now on 3.68 landscaped acres with pool and pool house that sold in March for $1,750,000 down from its original list of $1,495,000 after 94 days on the market.

 

  1. 64 Hopkins Road is a 5100 sq. ft. 3 bedroom contemporary just built in 2018 on 2.2 acres surrounded by Hopkins Vineyards sold in June for $1,575,000, down from its original list price of $2,350,000 after 310 days on the market.

  

If you or your friends would like more information on any of these sales or any listings offered in this price range, please call us.  We have three offices in Kent, Sharon and Cornwall and we listing and selling in those towns for more that 44 years.  We will show you or your friends the entire market, regardless of town or agency.  Should you wish to read this letter online or our letters of the previous year's sales, you can find them at www.bainrealestate.com.  Look for "Neighborhood Sold Stats."  You can also easily search all MLS listings in the NW corner on our website.  We'd love for you to Like and Follow us on Facebook and Instagram.

 

Sincerely

 

David Bain

Chris Garrity and Associates

Toni Soule, Marilyn DeVos, Karen Grimaldi, David Hurlburt, Heidi Kearns, Priscilla and Asher Pavel

 

October
29

Bain Real Estate Upper End 2018 October Market Report.

 

Dear Neighbor,

 

It's time to look at the past year to see what happened to the upper end market (sales over 1 million dollars).  This letter is an update of the activity between October 1, 2017 and today within the context of the 11 towns we service in Northwest Connecticut. There are a lot of statistics, but they do provide us with instructive perspective about the market. 

 

The first table shows the number of sold properties over $1M from 2005 to today!  The market is strong even though there are still 207 properties over the $1M mark that have not yet sold.  Note the average sale price continues to grow and the average days on market is down by almost nearly 2 months.

 

Here's some perspective over the last 13 years for the upper end market in the 11 towns we serve:*

 

This second table gives a closer look at the upper end market in each town over the last six years. Salisbury had the best year with the most sales with Roxbury in second place.  Kent jumped into third, just ahead of Washington.  Washington has 49 unsold properties on the market for the most in the region.  It is also interesting to track the progression of both listings and sales in each town to see where the action has been. Please note that these statistics do not include private sales outside of the Multiple Listing Data

 

 

Arguably, we believe there is no better place within 90 miles of NYC that offers so much as NW CT.  We're blessed with such natural beauty, safe environment, many cultural amenities and interesting friends with whom to share it all.  The demand to live here is solid and constant. We are the lucky ones.

 

On to the details of what happened in our four specialty areas in the last 12 months.

 

Kent had 7 residential sales:

  1. 64 Howland Road is a 3,074 sq. ft. 5 bedroom 3.5 bath colonial built in 1986 with 19.13 acres. Perched atop Geer Mountain in South Kent it has  long southern views of the Litchfield Hills. Hardwood floors, three fireplaces, extensive moldings, soapstone countertops, top-of-the-line appliances and spacious rooms. We sold it last May for $1,473,500, down just a bit from its  list of $1,700,000.
  2. 12 Stonewall Lane is a 6,335 square foot western mountain styled home with 4 bedrooms and 4.5 baths on 20.64 high hill side acres. The craftsmanship was stunning in this post and beam was crafted from trees grown and felled in Montana. Featuring 5 fireplaces, the great room hosts a 30 foot native stone expanse. Stellar kitchen, intricate flooring, incredible tree house porch, octagonal solarium, elegant horse barn, additional car barn, riding ring and turnout  We sold this one in August for $1,550,000 down from its original list price of $4,200,000 in August of 2018.
  3. 88 Howland Road is a 2180 square foot contemporary built in 1998 with 3 bedrooms, 2.5 bathrooms on 26 acres. This was an architect designed home with 23' ceilings and walls of glass looking out on long SW vistas.  It also had a guest house and pool.  It sold in January for $1,600,000 down from its list price of $1,950,000.
  4. 32 Mountain Road is a 4622 square foot stunning contemporary designed by Tomas Rossant of Ennead Architects and Allee Design, with clean aesthetics. Built in 2004 with 4 bedrooms, 5.5 bathrooms on 37.37 hill top acres with remarkable views. It sold in November for $2,550,000 down from its list price of $2,900,000.
  5. 33 Ore Hill Road is a magnificent 7,202 square foot contemporary with 6 bedrooms and 6 full baths and 2 half baths built in 2000 on a mountain top at the end of a long, paved drive with 42 acres (which we sold). The architect designed home is simply stunning and extremely well crafted with a horizon pool, cabana, studio and 4 car garage.  It sold February for $3,050,000, down from its original list price of $10,900,000
  6. 200 Kenmont Road is a 6034 square foot American shingle style home with 6 bedrooms and 6 full baths and 3 half baths built on 102 lakefront acres. The open floor plan encompasses the fabulous kitchen, dining area, and 2-story great room with a fireplace and French doors accessing the expansive deck. The mahogany paneled library has it own fireplace. The second level features 4 BR suites. The master includes sitting area, his/her dressing rooms and bath with soaking tub and steam shower. The finished lower level has a home theater and 2 guest suites that open to the rolling lawn. It sold this May for $4,400,000, down from its original in 2012 list of $7,900,000.
  7. 164 A/B Kenmont Road is a combination of two parcels and a lakefront cabin on 1.87 acres of land.  The cabin has direct waterfront and shared the access way with a neighbor. This was a private sale closing at $1,200,000.

 

Sharon had 7 residential sales:

  1. 140 White Hollow Road is a 7,500 square foot stone Georgian Colonial with 6 bedrooms and 4.5 baths built in 1953 on 24 acres. Located well off the road with a circular drive, the property was in excellent condition, had a pool and a tennis court. Renovated with sophistication and with pool, western views, and guest house. It was originally in May of 2016 for listed for $2,595,000 and sold in April for $1,200,000.
  2. 194 Low Road is a 3,447 square foot cape cod with 4 bedrooms and 3 full baths and 2 half baths originally built in 1900 on 6.18 acres, but recently renovated stunning details throughout: wide plank walnut flooring, high ceilings, 3 fireplaces, custom millwork. The bathrooms have high-end fixtures. The fabulous eat-in kitchen is equipped with Sub-Zero refrigerator, Miele dishwasher, marble counters.  It was listed in 2010 for $1,995,000, it sold in July for $1,360,000.
  3. 40 Herb Road is 5573 square foot contemporary with 4 bedrooms and 3 baths built in 2006 on 12.3 acres.  Designed and sited to enjoy panoramic views of the Housatonic River Valley, Sharon Land Trust and beyond. Energy efficient and technologically "smart."   It sold in November for $1,450,000, down from $1,850,000.
  4. 40-42 Jackson Hill Road is a 4,909 square foot colonial with 4 bedrooms and 4 full baths and 2 half baths built in 1993 on 08 acres.  It will need total restoration, but it's on a high hill in a highly desired location.  There is another old house that should probably be taken down.  It was originally listed in 2008 for $5,900,000 sold last October for $2,000,000.
  5. 3 Westwoods Road #1 is a 4046 square foot brick Georgian with 4 bedrooms and 4.5 baths originally built in 1776. It has been meticulously restored, maintaining its original detail and enhancing its value with all new windows, insulation, wiring, central a/c, and septic system. A superb new addition houses a fabulous kitchen with marble countertops, 2 refrigerators, 2 dishwashers, gas stove and pantry.  Offered with 10.6 acres, it was first listed in February for $2,475,000 and sold immediately for $2,057,790!
  6. 14 Weber Road is a 6154 square foot contemporary with 5 bedrooms, 5 full and two half baths built at the end of a long driveway on a hilltop with one of the best western views we have seen. The property comes with 284 acres and a large pond.  Most of the acreage has conservation easements and it all abuts Macedonia State Forest.  The grounds are beautifully landscaped and there is a pool.  First listed a year ago for $8,950,000 in 2010, it sold in January for 3,411,820.
  7. 231 Lake Road is a1740 antique colonial of 3302 square feet, 5 bedrooms and 2.5 baths recently moved back from the road, enlarged and renovated on 10.6 acres with barn, pond, pastures and woods. A perfect blend!  It sold last November for $1,250,000 after 406 days on the market, down from its original list of $1,750,000. This was a private sale.

Cornwall had 1 sale in the over $1M market this past year:

  1. 92 Town Street is a single family home that contains 3,376 sq ft and was built in 2007. With 3 bedrooms and 4.5 baths, this home sold privately in March 2018 for $2,075,000.

 

In Warren, there were 5 sales. Interesting that none of them are directly on the lake:

  1. 32 Sheehan Road is a 3,739 square foot Contemporary with 4 bedrooms and 3.5 baths built in 1989 on 3.06 acres.  While not on the lake, it features grand lake views. This recently renovated home is turnkey with 4 bedroom, 3.5 bathrooms, and open floor plan with generous entertainment spaces. Additionally, this home offers oak floors throughout, two stone wood-burning fireplaces, zoned air conditioning. The kitchen features beautiful maple cabinetry, quartzite counters, concrete farm sink and views of the lake.  Originally listed September of 2017 for $1,899,000, it sold this past October for $1,150,000.
  2. 231 Lake Road is a 3,302 colonial with 5 bedrooms and 2.5 baths originally built in 1740 and actually moved back from the road about 25 years ago. It came with barns and a garage/barn was added as well as a pond for swimming.   It is a lovely compound with style privacy.   Originally listed September of 2016 for $1,750,000, it sold this last November for $1,250,000.
  3. 127 Cornwall Road is a beautifully constructed home of 5000 square feet but with an unfinished interior needing heat, walls, kitchen and baths and room framing. Attached was a large, mostly finished large barn with high ceiling and a clear spanned second floor. Best of all was the land. 123 acres of manicured fields, woods with trails, 1700'of road frontage with a 4' high 3'thick field stone wall running its length!  First listed by us in 2015 for $2,700,000 it sold for $2,000,000 in April.
  4. 14 Strawberry Ridge Road is a newly crafted Lake house of 5,153 square feet with 4 bedrooms and 4 full and two half baths with grand views of the lake. It has 2 acres and is strategically located on a small road within walking distance to the lake.  It was listed in March for $3,250,000 and sold in June for $3,000,000.
  5. 47 Tanner Hill Road is a striking architect designed contemporary of 5000 square feet with 3 bedrooms and 4.5 full baths built in 2011 on 2 acres with one of the best views over Lake Waramaug that there is. Houses like this sell themselves.  It was listed for $8,500,000 in January and sold in June for and even $8,000,000!

 

If you or your friends would like more information on any of these sales or any listings offered in this price range, please call us.  We have three offices in Kent, Sharon and Cornwall and we listing and selling in those towns for more that 44 years.  We will show you or your friends the entire market, regardless of town or agency.  Should you wish to read this letter online or our letters of the previous year's sales, you can find them at www.bainrealestate.com.  Look for "Neighborhood Sold Stats."  You can also easily search all MLS listings in the NW corner on our website. 

 Enjoy the fall.  I'll be in touch in a year.

 

Sincerely,

 

David Bain, Chris Garrity and the Bain Office

 

*Statistics taken from CTMLS.

 

     

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

October
18

 

Bain Real Estate 2017 November Upper End Market Report.

 

 

Dear Neighbor,

 

It's time to look at the past year to see what happened to the upper end market.  This letter is an update of the activity between October 1, 2016 and today within the context of the 11 towns we service in Northwest Connecticut. There are a lot of statistics, but they do tell us things about the market. 

 

The first table shows the number of sold properties over $1M is the highest since 2007!  All in all the market is strong even though there are still 203 properties over the $1M mark that have not yet sold.  Note the average sale price is up 2% but the average days on market is up by 41 days.

 

Here's some perspective over the last 14 years for the upper end market in the 11 towns we serve.

This second table gives a closer look at the upper end market in each town over the last six years. Salisbury had the best year with the most sales with Sherman in second place.  Washington, usually the leader, tied Litchfield for third place with just 8 sales.

 

Arguably we believe there is no better place within 90 miles of NYC that offers so much as NW CT.  We're blessed with such natural beauty, safe environment, many cultural amenities and interesting friends with whom to share it all.  The demand to live here is solid and constant. We are the lucky ones.

 

On to the details of what happened in our five specialty areas in the last 12 months.

 

Kent had 7 residential sales:

  1. 411 Jennings Road is a 3688 sq. ft. 4 bedroom 3.5 bath colonial built in 1800 with 37 acres.The home was meticulously restored and expanded.  A new barn was built and extensive landscaping done.  It sold last January for $1,037,000, down just a bit from its list of $1,285,000. 
  1. 79 Muller Road is a 4014 square foot contemporary with 4 bedrooms and 4.5 baths on 20.64 high hill side acres. The craftsmanship was stunning and the views long.  It sold last December for $1,150,000 down from its original list price of $1,387,000.
  2. 154 Kent Cornwall Road is a 3293 square foot colonial built in 1900 with 3 bedrooms, 2.5 bathrooms on 3 acres and recently totally and beautifully renovated in just the last few years.  Two barns and extensive landscaping.  It sold in July for $1,189,500 down from its list price of $1,295,000.
  3. 18 Kenmont Road is a 1879 square foot contemporary with 3 bedrooms and 3.5 baths built in 1999 on 16.5 lake front acres. The land nicely landscaped, the house set privately high above the lake with an access road down to the water where there was a dock and cabana.  We sold this past September for $1,250,000, down from its original list price of $2,750,000.
  4. 17 Straight Road is a 2720 square foot colonial built in 1900 with 3 bedrooms, 2.5 bathrooms on a gorgeous 5 acres of pastures and woods with remarkable views. It had two barns as well.  It sold in July for $2,800,000 down from its list price of $2,950,000.
  5. 6. 23 Kane Mountain Road is a 3468 square foot contemporary with 4 bedrooms and 3.5 baths built in 1998 with significant recent upgrades all on 1.7 acres with a long SW   view shed, pool, pool house and barns.  It sold October 24 2017 for $1,875,000,     down from it's original list price of $3,000,000
  1. 18 Kenmont Road 13 a 1879 square foot contemporary with 3 bedrooms and 3.5 baths  built on 16.5 lakefront acres.  Much of the land was professionally landscaped and had a sloping road down to its waterfront.  Listed in 2015 for $3,200,000, the price dropped several times before Dave Fairty of our Kent office sold it this September            for $1,250,000.

 

We have 13 properties for sale in Kent.  Five of them our listings:

  1. 171 Bulls Bridge is a 3224 square foot 4 bedroom 2.5 bath colonial built in 2003 and privately set 1 acres abutting the Bulls Bridge Golf Course. It's offered at $1,199,000 by Chris Garrity.
  2. 59 Kenico Road is a spacious 1296 square foot lakefront contemporary home with 4 bedrooms and 2 baths built on 97 acres. The land slopes gently to the lake and the setting is amazingly private. It's listed at  $1,650,000 by Chris Garrity.
  3. 221 Fuller Mt. Road is a 5512 square foot contemporary with 4 bedrooms and 3 full and 2 partial baths built in 2009 on 22.5acres.  Its architecture and design reflect Frank Lloyd Wright.  Its privacy is absolute and it has a heated 5 car garage Offered for $1,800,000 by David Bain
  4. 64 Howland Road is a 3074 square foot colonial with 5 bedrooms and 3.5 baths built on 13 acres in 1986. Its southern views over its own pastures to distant hills are remarkable. It's offered for sale by Dave Fairty for $1,900,000
  5. 12 Stone Wall Lane is a 6335 square foot western mountain styled contemporary crafted with trees felled in Montana and equipped with 4 bedrooms and 4.5 baths. It was built in 2006 on 2 acres Offered for $1,975,000 by Toni Soule.

 

Sharon had 6 residential sales:

  1. 3 Vanishing Brook Lane  is a 3050 square foot 1983 contemporary with 3 bedrooms and 3 baths built on 3.06 private acres.  Renovated with sophistication and with pool, western views, and guest house. It was listed for $3,750,000 and sold last November for $1,075,000 down from its list price of $1,195,000.
  2. 49 Boland Road, is a 1826 square foot converted barn with 2 bedrooms and 2.5 baths on 19 acres.   Most of the land was pasture and it came with a pool and several small barns.  It was listed in July for $1,445,000 and sold in September for $1,100,000, down from $1,195,000.
  3. 12 Old Sharon Road #2 is 2571 is a stunning Michael Trapp designed 1506 square foot hand crafted contemporary with long eastern views. It has 3 bedrooms and 3 baths and was built in 1987 but recently renovated on 45 acres acres. It sold in May for $1,166,250, down from $1,200,000.
  4. 17 Grandview Lane is a 5675 square foot contemporary with 5 bedrooms and 5.5 baths built in 1993 on 08 acres.  An old farm was tastefully subdivided with lots of visual protection and pastoral views.  It was listed for $1,995,000 and sold in August for $1,655,000.
  5. 14 and 18 Knibloe Hill Road is a 5000 square foot contemporary farm house with 6 bedrooms and 4.5 baths built in 1997 high on a hillside with long western views and 87 acres. It was first listed in 2015 for $4,800,000 and dropped a year later to $4,250,000, it sold for $3,900,000 last month.
  6. 49 Boland Road is a 1826 square foot post and beam barn turned into a 2 bedroom 2.5 bath home privately set on 4 acres of pasture with long southern views, a pool and 2 small barns. First listed a year ago for $1,295,000, it sold this September for $1,100,000.

 

We have one property for sale in Sharon:

  1. 43 Ellsworth Road: Picture a lovely old farmhouse (3400 square feet, 5 bedrooms and 2.5 baths) with a gracefully detailed front porch, an old shed and an old dairy barn all on a level 33 acres of hay fields, orchards and gardens. There you have it. The 1870's home is preserved nicely with amazing details. Offered at $1,050,000.

 

 

Cornwall had one sale in the over $1M market this past year:

 

  1. Sadly the Cornwall Castle which we had for sale for several years is being foreclosed by Chase Bank. There will be an auction in Early December at which time the bank will probably bid the amount of the mortgage, and if not out bid, will take over ownership.  We may see its parts for sale again.

 

  1. 56 Whitcomb Hill is a stunning 8075 square foot English Manor house, extremely well build deep in its 80 acres with pool and tennis court.  It had 5 bedrooms and 4.5 baths and massive beams, 12 ' ceilings, old wide plank boards, "sleep in" fireplaces, geothermal heat and cooling and many special details throughout.  It was listed for $4,600,000 and sold in May for $4,200,000.

 

There are 11 properties over the $1M mark currently for sale in Cornwall.  Check our website for those: www.bainrealesrtate.com

 

 

In Warren there were 3 sales:

 

  1. 379 Lake Road is a 2125 square foot colonial farmhouse with 4 bedrooms and 2 baths built in 1904 on 59 acres. It had some lake front, the old house and a large barn that begged for renovation. Much of the land was wooded and hilly.  It was listed in for $1,945,000 and sold last November for $1,945,000.
  2. 26 Hopkins Road is a 1652 square foot 1968 Contemporary with 3 bedrooms and 3.5 baths on 69 acres. The house needs much work, but the value is in the location and the views of the lake and the vineyard.  Listed for $2,200,000, it sold in January for $1,925,000.
  3. 95 Curtis Road is a 3000 square foot colonial with 4 bedrooms and 4.5 baths built in 1941 on 94 acres. Great potential estate site with long views over the lake.  It was listed in September 2015 for $2,500,000 and sold in July for $2,050,000.

 

 

We have one for sale in Warren:

 

  1. 290 Lake Road is a 3300 square foot 1745 Colonial with additions and a guest house attached to a 2 car garage/barn. The best part is the brook that wraps around the property and the covered bridge that links the barn/garage with the house.  The house is in mint condition with 4+ bedrooms and 3.5 baths. The gardens are a show piece.  Trails wind around the garden, ponds and across the brook. This truly unique property is listed for $1,300,000.

 

There are 10 other properties listed over $1M.  You can see them on our website, www.bainrealesatate.com.

 

If you or your friends would like more information on any of these sales or any listings offered in this price range, please call us.  We have three offices in Kent, Sharon and Cornwall and we have listed and sold  in those towns for more that 44 years.  We will show you or your friends the entire market, regardless of town or agency.  Should you wish to read this letter online or our letters of the previous year's sales, you can find them at www.bainrealestate.com.  Look for "Market Update" on our home page. You can also easily search all MLS listings in the NW corner on our website. 

 

Enjoy the fall.  I'll be in touch in a year.

 

Sincerely,

 

 

David Bain

*Statistics taken from CTMLS.

 

 

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

 

 

November
1

Dear Neighbor,

It's time to look at the past year to see what happened to the upper end market. The number of sold properties is up 27% and the average sales price is slightly up from last year. The average selling period of days on the market (DOM) is slightly longer by 2 weeks. All in all the market is slowly improving even if you were one of the 120 upper end properties that did not sell. The good news: 65 sales in a year are the most we have seen since 2006-07!! Here's some perspective over the last 12 years for the upper end market in the 11 towns we serve in Northwest Connecticut: *

 

Year # for Sale Average List price # Sold Average Sale Price DOM

'04-'05 117 $2,248,000 48 $1,634,481 146

'05-'06 162 $2,325,407 65 $1,747,561 171

'06-'07 164 $2,316,129 105 $1,960,938 178

'07-'08 221 $2,599,338 59 $2,306,338 201

'08-'09 179 $2,086,619 35 $1,743,175 253

'09-'10 155 $2,115,980 54 $1,835,570 218

'10-'11 201 $1,595,000 48 $1,702,522 195

'11-'12 184 $1,887,029 57 $1,599,297 268

'12-'13 184 $2,345,057 54 $2,327,630 191

'13-'14 185 $2,145,011 62 $1,714,246 228

'14-'15 166 $1,954,571 50 $1,780,000 164

'15-'16 184 $2,400,000 65 $1,785,000 180

 

Town

Sold/for Sale

Sold/for Sale

Sold/for Sale

Sold/for Sale

Sold/for Sale Sold/forSale

Sold/for Sal

 

'10-'11

'11-'12

'12-'13

'13-'14

'14-'15 '15-'16

 

Bridgewater

3/19

3/11

1/12

2/13

6/10 7/13

 

Cornwall

4/10

2/10

1/8

3/9

1/5 0/9

 

Kent

2/7

4/14

4/15

6/10

2/16 4/13

 

Lakeville/Salisbury

9/20

9/28

10/23

5/22

9/24 15/27

 

Litchfield

3/25

6/24

4/22

9/23

6/25 4/18

 

New Milford

0/12

5/8

1/5

3/9

2/10 5/5

 

Roxbury

5/23

9/34

6/34

13/32

7/15 5/30

 

Sharon

7/17

8/17

4/22

8/17

12/13 4/15

 

Sherman

0/10

3/8

1/9

2/11

6/6 1/13

 

Warren

2/7

0/10

3/8

3/7

6/12 5/7

 

Washington

13/27

8/24

17/28

10/24

19/29 18/34

 

Total

48/177 (27%)

57/188 (30%)

54/186 (29%)

64/177 (35%)

77/166 (46%) 65/184(35%)

 

This second table gives a closer look at the upper end market in each town over the last six years.

Washington is back in the lead with the most sales with Salisbury in second place. It is interesting to keep in mind that New Milford has a population of 29,000 and Litchfield has a population of 8600 while the rest of the other towns have 3000 +/-. Arguably we believe there is no better place within 90 miles of NYC that offers so much as NW CT. We're blessed with such natural beauty, safe environment, many cultural amenities and interesting friends with whom to share it all. The demand to live here is solid and constant. We are the lucky ones.

On to the details of what happened in our five specialty areas in the last 12 months.

Kent had 4 residential sales:

1. 127 Anderson Road is a 3008 sq. ft. colonial built in 1700 (owner's date) with 99.48 acres

with a large barn complex. It has 4 bedrooms and 2.5 baths and was totally cleaned. It sold last February for $1,900,000, down just a bit from its list of $2,000,000.

2. 45 Richards Road is a 2844 square foot contemporary with 4 bedrooms and 3 baths of 3 lake front acres that sold last October for $1,550,000 down from its original list price of $2,950,000.

3. 100 Main Street was Chris Garrity's listing. It is an in town 5345 square foot 6 bedroom, 4.5 bathroom colonial built in 1800 on 11 acres and recently beautifully renovated in just the last few years. It sold in July for $1,035,000 down from its list price of $1,250,000.

4. 164 Carter Road is a 1764 square foot cape with 3 bedrooms and 2.5 baths built in 1996 on 36.29 hill top acres. The land was divided into 5 legal lots all with great views. It sold in September for $1,400,000, down just $99,000 from its original list price.

We have 3 properties for sale in Kent:

A. 64 Howland Road is a 3074 square foot 5 bedroom 3.5 bath colonial on 18.3 acres with sweeping views over pasture to distant hills. It's offered at $2,100,000.

B. 12 Stonewall Lane is a spacious 6345 square foot post and beam home with 4 bedrooms and 4.5 baths builton 11.72 acres with horse barn and fenced pastures. This is a very private setting in an upscale neighborhood. $1,975,000.

C. 171 Bulls Bridge Road is a 3224 square foot contemporary colonial with 4 bedrooms and 2.5 baths built in 2003 on 5 acres practically abutting the Bulls Bridge Golf Course. Pool and great view. Offered for $1,399,000

 

Sharon had 3 residential sales:

1. 111 Cornwall Bridge Road is a 6200 square foot 1920 colonial with 4 bedrooms and 5.5 baths built on 9.5 very private acres. Sophisticated and chic. It was listed for $3,750,000 and sold in July for $3,100,000.

2. 10 Boland Road, is a 3785 square foot antique with 4 bedrooms and 4 baths on 5 acres originally built in 1880 and recently renovated and a large barn added for a great room. It was listed in July for $1,445,000 and sold in June for $1,300,000.

3. 84 Knibloe Hill Road was a Chris Garrity listing with 1506 square foot hand crafted farm house with 2 bedrooms and 2.5 baths built in 1988 on 120 acres. It was listed for $1,350,000 and sold in December for $1,200,000.

 

We have one property for sale in Sharon:

A. 43 Ellsworth Road: Picture a lovely old farmhouse (3400 square feet, 5 bedrooms and 2.5 baths) with a gracefully detailed front porch, an old shed and an old dairy barn all on a level 33 acres of hay fields, orchards and gardens. There you have it. The 1870's home is preserved nicely with amazing details. Offered at $1,300,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cornwall had no sales in the over $1M market this past year.

We have two for sale in Cornwall:

A. On 1 Castle Road we have the Valley Castle (8 bedrooms and 7.5 baths) with 275 acres including pastures, brooks, ponds and views. A mile long private drive gets one to the Castle, guest house, caretaker's house, and stables . Spectacular! $6,000,000.

 

B. 340 River Road is an artistic renovation of a midcentury house into a contemporary craftsman retreat. It has 3680 square feet, 4 bedrooms and 3 baths. Great detail work throughout. The location of the house is remote at the end of 1/2 mile long asphalt driveway. Very private. Housatonic River frontage. Offered at $1,770,000

In Warren there were 5 sales.

1. 11 Lakeview Drive is a 8113 square foot colonial with 5 bedrooms and 5.5 baths built in 1999 on 9.25 acres with a pool and a view out over the lake,. It was listed in May or 2014 for $4,750,000 and sold the March for $3,600,000.

2. 22 Strawberry Ridge Road is a 1968 Contemporary with 4 bedrooms and 3.5 baths of 2.4 acres. The house was purchased in October of last year for $725,000 and recently redone by Harold Tittmann. Listed in April for $2,195,000, it sold in 2 months for $1,950,000.

3. 121 North Shore Road is a 2356 square foot colonial with 4 bedrooms and 4 baths built in 1954 on 2.36 acres. Great lakefront. It was listed in September 2015 for $2,600,000 and sold October,2016 for $1,925,000.

4. 33 Arrow Point is a 1872 square foot ranch with 3 bedrooms 3.5 baths built in 1993 on a 1 acre lot. It was listed in October, 2015 for $2,995,000 and sold in June of 2016 for $1,875,000

5. 15 Melius Road is an 1759 colonial with 3005 square feet, 4 bedrooms and 3 baths. It came with 3..83 acres, a barn, pool and pool house. It was originally listed for $2,150,000 in April of 2009 and sold this April for $1,558,500.

We have two for sale in Warren.

A. 383 Lake Road is a 3088 square foot Colonial with 4+ bedrooms and 4 baths originally built in 1983, but extensively remodeled with a custom crafted post and beam addition in recent years. It comes with 30.12 acres, a brook and miles or trails. $1,350,000.

B. 127 Cornwall Road is a 5045 square foot colonial farmhouse with an attached 5000 square foot two story barn. The house is not totally finished on the inside. It comes with 123 acres of groomed pasture and woods, several brooks and ponds. Great trails. $2,700,000

 

If you or your friends would like more information on any of these sales or any listings offered in this price range, please call us. We have three offices in Kent, Sharon and Cornwall and we list and sell more in those towns than any other broker. We will show you or your friends the entire market, regardless of town or agency. Should you wish to read this letter online or our letters of the previous year's sales, you can find them at www.bainrealestate.com. Look for "Neighborhood Sold Stats." You can now also easily search all MLS listings in the NW corner on our website.

 

Enjoy the fall. I'll be in touch in a year.

Sincerely,

 

David Bain

Chris Garrity

And the Kent Office -Toni Soule, Dave Fairty, Marilyn DeVos, Scott Harvey, Debbie Bain & Eve Iselin

 

 

This graph shows the number of successful transactions

in our key towns of Cornwall, Kent and Sharon in 2015

 

  

*Statistics taken from CTMLS.

 

 

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

October
1

PLEASE CLICK  HERE TO SEE THE MAP.

Dear Neighbor,


It's time to look at the past year to see what happened to the upper end market. This letter is an update of the activity between October 1, 2014 and today within the context of the 11 towns we service in Northwest Connecticut.

The first table shows some mixed statistics. The number of sold properties is slightly down and the average sales price is slightly up from last year. The average selling period of days on the market (DOM) is significantly down by two months! All in all it's been a better sales market even though the volume of transactions was down.

Here's some perspective over the last 12 years for the upper end market in the 11 towns we serve:*

Year # for Sale Average List price # Sold Average Sale Price DOM

'03-'04 94 $1,682,000 42 $1,444,200 213

'04-'05 117 $2,248,000 48 $1,634,481 146

'05-'06 162 $2,325,407 65 $1,747,561 171

'06-'07 164 $2,316,129 105 $1,960,938 178

'07-'08 221 $2,599,338 59 $2,306,338 201

'08-'09 179 $2,086,619 35 $1,743,175 253

'09-'10 155 $2,115,980 54 $1,835,570 218

'10-'11 201 $1,595,000 48 $1,702,522 195

'11-'12 184 $1,887,029 57 $1,599,297 268

'12-'13 184 $2,345,057 54 $2,327,630 191

'13-'14 185 $2,145,011 62 $1,714,246 228

'14-'15 166 $1,954,571 50 $1,780,000 164

 

Here's the action by town in the upper end market for the past six years:*

Town

Sold/for Sale

Sold/for Sale

Sold/for Sale

Sold/for Sale

Sold/for Sale

Sold/for Sale

 

'9-'10

'10-'11

'11-'12

'12-'13

'13-'14

'14-'15

Bridgewater

0/14

3/19

3/11

1/12

2/13

6/10

Cornwall

0/11

4/10

2/10

1/8

3/9

1/5

Kent

10/4

2/7

4/14

4/15

6/10

2/16

Lakeville/Salisbury

9/18

9/20

9/28

10/23

5/22

9/24

Litchfield

3/19

3/25

6/24

4/22

9/23

6/25

New Milford

2/5

0/12

5/8

1/5

3/9

2/10

Roxbury

8/26

5/23

9/34

6/34

13/32

7/15

Sharon

6/19

7/17

8/17

4/22

8/17

12/13

Sherman

6/10

0/10

3/8

1/9

2/11

6/6

Warren

1/4

2/7

0/10

3/8

3/7

6/12

Washington

10/28

13/27

8/24

17/28

10/24

19/29

Total

54/155 (35%)

48/177 (27%)

57/188 (30%)

54/186 (29%)

64/177 (35%)

77/166 (46%)

 

 

 

 

 

The second table gives a closer look at the upper end market in each town over the last six years.

Washington is back in the lead with the most sales with Sharon in second place and Salisbury in third. It is interesting to keep in mind that New Milford has a population of 29,000 and Litchfield has a population of 8600 while the rest of the other towns have 3000 +/-.

Arguably we believe there is no better place within 90 miles of NYC that offers so much. We're blessed with such natural beauty, safe environment, many cultural amenities and interesting friends with whom to share it all. The demand to live here is solid and constant. We are the lucky ones.

On to the details of what happened in our five specialty areas in the last 12 months.

Kent had 2 residential sales:

1. 98 Anderson Road is a 4324 sq. ft. colonial built in 1900 (parts were earlier) on 10 acres

with a barn complex, heated pool, pond and brook. It has 5 bedrooms and 3.5 baths and was totally renovated. It sold last November for $2,225,000.

2. 260 Kent Hollow Road is a new 2400 square foot French Normandy home with 18" masonry walls, leaded glass windows, beamed ceilings, walled cobblestone garden with a fountain, 3 bedrooms and 3 baths built in 1972 on 17 acres. In addition it had both a pool and a pond and landscaped grounds. I listed it for $1,450,000 and it closed in May for $1,337,500.

We have two properties for sale in Kent:

A. 18 Kenmont Road is a 2900 square foot 4 bedroom 3.5 bath contemporary on 16.5 acres of direct waterfront on North Spectacle Lake. Great view and lovely landscaping. Easy access just 4 minutes from the village. $3,200,000.

B. 72 Howland Drive is a spacious 5846 square foot contemporary with 4 bedrooms and 3.5 baths builton 22.9 acres that additionally abut 100 acres of open space. This is a very private setting in an upscale neighborhood. $1,435,000.

Sharon had 12 residential sales:

1. 80 Amenia Union Road is a 3312 square foot 1820 colonial with 5 bedrooms and 3 baths built on 25.48 acres. It has a caretaker's house and a vineyard with 700 vines. It was listed for $1,490,000 and sold in May for $1,200,000.

2. 130 Amenia Road , a 3049 square foot colonial with 4 bedrooms and 2.5 baths on 4.6 acres built in 1940. It was originally part of the Colgate Estate sold last year. This has been updated and sits privately at the end of a long drive. It was listed in July for $1,325,000 and sold 2 months later for $1,260,000.

3. 196 East Street is all about the 170 acres of pasture lands with great views and also abutting state lands. There is a 1948 farm house with 2000 square feet and 3 bedrooms and 2.5 baths along with several barns. It was listed for $3,125,000 and sold in October for $3,000,000.

4. 6 Herb Road is a 5300 square foot grand colonial built in 1890 on 30 acres of pasture and woods with a large pond. The main house has 5 large bedrooms and 5 baths. There was also a guest house over a multi car garage. Great location. It was originally listed in January of 2010 for $3,400,000 and sold this December for $2,410,000.

5. 318 Calkinstown is a contemporary farm house of 3600 square feet with 6 bedrooms and 3 baths built in 2012 on 6 acres. It was listed for $1,950,000 and sold in December for $1,350,000.

6. 46 Fairchild Road is a 6469 square foot colonial with 5 bedrooms and 5.5 baths built in 1880 but totally renovated in 2009 with lots of attention spent on the details. It was listed in September of 2009 for $1,675,000, reduced several times to $1,450,000 in July 2014 and it finally sold for $1,350,000 last January.

7. 15 West Meadow Road is a 2950 square foot home with 3 bedrooms and 2.5 baths built in 1976 on 7.51 acres. Beautifully renovated with superb western views over protected pastures, it was listed for $1,285,000 and sold in March for $1,075,000.

8. 20 West Woods Road is a 3475 square foot tastefully renovated 1768 colonial with 5 bedrooms and 3.5 baths on 5.27 acres with great western views overlooking Land Trust owned pastures. It was listed for $1,675,000 and sold in March for $1,245,000.

9. 248 Gay Street is a 3213 square foot country home built in 1992 well off the road, surrounded by pastures and views on 18 protected acres. It has 4 bedrooms and 4.5 baths. It was listed for $1,425,000 and sold in April for $1,185,000.

10. 44 Jewett Hill Road is a magnificent 6398 square foot colonial built in 2003 well off the quiet Jewett Hill Road on a choice 20 acres of pasture and woods with remarkable western views. The finishing details, moldings, paneling, floors, and kitchen are all top of the line. This one was listed for $4,500,000 and sold in May for $3,400,000.

11. 344 Calkinstown Road is a 4000 square foot custom colonial built in 2014 with 4 bedrooms and 4.5 baths on 13 acres. Finishing details of the house left nothing out. It was listed for $2,475,000 and sold 5 months later for $2,030,000.

12. 498 Cornwall Bridge Road is a beautiful 3670 square foot colonial with 4 bedrooms and 3.5 baths located well off the road on 45 acres of woods, pastures, and highly landscaped grounds. A brook tumbles past the house and through the gardens. The setting is remarkable. The house was built in 1987, but looks older with exposed beams and wall paneling. It was first listed in May of 2013 for $2,375,000 and sold this past March for $2,000,000.

We have two properties for sale in Sharon:

A. 89 West Woods Road is a 1600 square foot home with 2 bedrooms and 1.5 baths. This one is horse property with 83 acres and views to the Catskills. $1,800,000.

B. 84 Knibloe Hill, a 1500 square foot, 2 bedroom, 2 and ½ bath hand crafted country home on 120 acres. Meadows, spring fed pond, brooks, woodlands and views that are magical. $1,350,000


Cornwall had just 1 sale in the over $1M market this past year, but it was a nice one.

1. 233 Warren Hill Road is a 4500 square feet contemporary with 4 bedrooms and 5.5 baths built in 1976 on 92 acres of mostly pasture with views to the east, west (Catskills) and south. It came with a pool and guest house. A long, curving drive insured privacy. It came on the market in April of 2011 at $3,395,000, raised its price to $3,695,000 in May of 2014 and sold this past August for $3,200,000.

We have 3 properties for sale in Cornwall:

A. On 1 Castle Road we have the Valley Castle (8 bedrooms and 7.5 baths) with 200+ acres including pastures, brooks, ponds and views. A mile long private drive gets one to the Castle, guest house, caretaker's house, and stables . $8,500,000.

B. 37 Woodruff Lane is a 3571 square foot farmhouse with 4 bedrooms and 3.5 baths built in 1990 on 8.5 acres. Private and views to the Catskills! $1,295,000

C. 34 Great Hollow is a 3840 contemporary with 4 bedrooms and 3.5 baths built in 2013 on 3 acres with views on Mohawk Ski Area. $ 1,200,000.

 

New Milford had 2 sales, both on Lake Candlewood.

1. 134 Sherry Lane is a 3202 square foot contemporary built in 1960 with 3 bedrooms and 3 baths. Part of Candlewood Point, this home has level lakefront, a pool and pool house. First listed in January of 2014 for $1,480,000, it sold this July for $1,100,000.

2. 192 Candlewood Lake Road is a 2754 square foot contemporary with 3 bedrooms and 3.5 baths built in 1975 on .27 of an acre. It's direct lakefront with great lake views, but had steps down to the water. First listed this past January for $1,295,000, it sold 8 months later for $1,200,000.

 

In Warren there were 6 sales.

1. 8 North Shore Road is a 3000 square foot bungalow with 2 bedrooms and 2.5 baths built in 2000 on 2.05 acres with a caretaker's house, guest house and boat house. This was one of the few houses with direct waterfront located on the north east corner of the lake. It was listed on September 4th for $8,000,000, put in contract on September 24th and sold on October 3rd for $6,100,000.

2. 102 Melius Road is an 18th century stone colonial that dates from 1799. It's large with 6844 square feet, 8 bedrooms, 4 full baths and 5 half baths. It has a guest house, several large barns, a studio, an old pool and 89 acres of pastures and woods. It was listed in May for $3,895,000 and sold in October for $3,300,000.

3. 26 Hopkins Road is a 1652 square foot contemporary with 3 bedrooms and 3.5 baths built in 1952 on 4.69 acres. The location is private and the views of the lake very special. It was listed in July 2014 for $1,750,000 and sold 3 months later for $1,100,000.

4. 36 Arrow Point is a striking 3652 square foot contemporary with 4 bedrooms 3.5 baths built in 2004 on a 1 acre lot. It was listed in October for $3,750,000 and sold 2 months later for $3,750,000

5. 102 North Shore Road is an 1870 square foot cottage that used to be the snack shack associated with the Inn on Lake Waramaug of years past. It is direct waterfront with 2 half baths and one large room built in 1999. It sold this June with its lakefront neighbor (108 North Shore Road below) for $1,558,500.

6. 108 North Shore Road is one of the landmark homes on the lake sitting on 4.6 acres of a peninsula that juts into the lake. A long driveway takes one to the 7,165 square foot wood shingle home with 8 bedrooms and 7 baths and two half baths. It has over 1500' of waterfront! It was sold privately in June for $8,991,500. This is the most expensive sale on the lake to date!

 

We have one for sale in Warren.

A. 187 Kent Road is a 4430 square foot Colonial with 4+ bedrooms and 5 baths originally built in 1978, but extensively remodeled in recent years. It comes with 50 acres and two barns, pasture and woods. $1,145,000

 

 

 

 

 

If you or your friends would like more information on any of these sales or any listings offered in this price range, please call us. We have three offices in Kent, Sharon and Cornwall and we list and sell more in those towns than any other broker. We will show you or your friends the entire market, regardless of town or agency. Should you wish to read this letter online or our letters of the previous year's sales, you can find them at www.bainrealestate.com. Look for "Neighborhood Sold Stats." You can now also easily search all MLS listings in the NW corner on our website.

 

Enjoy the fall. I'll be in touch in a year.

Sincerely,

David Bain

 

 

This graph shows the number of successful transactions

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

*Statistics taken from CTMLS.

 

 

 

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