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June
8

Bain Real Estate West Cornwall 2019 May Market Report

Dear Neighbor,

PLEASE CLICK HERE TO SEE THE MAP

 

            It has been a long cold winter and a very wet spring here in West Cornwall.  The loss of the restaurant (most recently Perley's) has slowed us down.  But with the arrival of May, business is perking up in the form of new listings that we think will appeal to a wide swath of residents and business investors.

            In the Good News department, the Bend, has been completed with guidance from Housatonic Valley Association.  The paving is just about to start with a ribbon cutting opening now scheduled for Saturday, June 22nd from 2-3PM.  The town is paying for the paving which we think will be completed in mid-May prior to the boat races scheduled.

 

We are able to report two recent sales:

9 Smith Place was a private sale.  This 4965 square foot contemporary colonial features 4 bedrooms, 4 bathrooms, a large porch as well as a deck plus a basement garage all sited on 8.73 hillside acres.  The town's appraisal is $505,200. And it sold for $500,000.

 

 

Down on River Road I represented Kevin Whitney in the sale of 2 adjacent lots totaling 14.87 acres.  I also represented the buyer who purchased these wooded lots with 2.5 cleared acres along the road for $78,000.

 

 

 

There are several properties for sale in the village and Bain represents three of them.

 

 

417 Sharon Goshen Turnpike is represented by Dave Hurlburt of our Cornwall office.  Long called "The Pink House" (even though it has been yellow for several years now).  With 10 rooms, 5 are bedrooms and 3 full bathrooms, no appliances in the kitchen it was previously a 2 apartment house.  A fire several years ago made one apartment uninhabitable.  It is sited on .71 acres with a barn/house with an entrance on Lower River Rd.  The property has both a regular septic for the smaller barn/house and a cesspool for the big house. The property is offered for sale as is at $249,900. The potential is WOW!

 

Just up the street at 407 Sharon Goshen Turnpike, The Farnsworth Book Store is my listing.  It is at the edge of Mill Brook on .1 acre offering 3600 square feet on 2 floors.  A considerable amount of natural sunlight streams in through the windows.  It is priced to sell at $125,000.

 

 

Around the corner, on the other side of Mill Brook at 5 Smith Place I have also listed the home formerly occupied the late book store owner. It is a gracious and comfortable 3 bedroom, 2.5-bath home of 2268 square feet with 2 porches, formal dining room, large kitchen and 2 additional first floor living rooms.  Oil heat with a newly lined chimney, views looking over gardens down to the brook, a detached 2 car garage all priced at $375,000.

 

The West Cornwall Sewer Committee we think is coming close to recommendations for installation which will benefit all the properties along Sharon Goshen Turnpike as well as Railroad Square.

 

We shall keep you posted on the new businesses we anticipate taking over in some of these locations and welcome your visit to West Cornwall.  Stop by our office with your questions, comments and share some coffee or hot chocolate with us or visit us on the web at www.bainrealestate.com

 

Cordially,

Priscilla Pavel

REALTOR

And the West Cornwall crew: Dave Hurlburt, Heidi Kearns, Asher Pavel

 

 

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

 

 

May
19

 Bain Real Estate 2018 West Cornwall Market Report.

 

Dear Neighbor,

PLEASE CLICK HERE TO SEE THE MAP.

We have had a long cold winter which extended through April!  But now it is truly a warm and wonderful spring, much later than I usually write to my West Cornwall neighbors.  I'll explain the reason why the delay in just a little bit.

 

There is a lot going on in West Cornwall.  This summer, 3 bridges will be repaired and/or replaced. One that will not be a bother is the one over Mill Brook which leads to the gravel bank.  However, the crossing over Mill Brook from Route 128 to Smith Hill Road will affect the access to 4 residences and will also require a detour off Railroad Square for those home owners. But the major headache, beginning on September 4th will be the closing of the Covered Bridge!  It is expected to take 30 days to create a new surface road to cross the Housatonic.   The good news is that this is a State of Connecticut expense, not Cornwall's.  The bridge is expected to reopen before Columbus Day weekend.  Detours will be well marked, but for our business community this is usually a busy time, the beginning of leaf season.

 

The other major project in West Cornwall is the Sewer Commission study which has been going on now for over a year.  The search for a solution to water and septic needs for our community along the Housatonic is ongoing.  Some of our businesses and homes are hurting because of limited land for individual septic systems.  Unfortunately no one wants to see a building housing the new septic plant in their front or back yards, so we are still looking for a suitable location.  An update will follow next year.

 

On to the real estate values.  The strengthening of values in our real estate market has been intensifying for the last two years especially due in part by the diminishing inventory of homes for sale.  To date we only have 27 residential homes listings for sale a very low number of opportunities for buyers.  And we find 5 homes are in contract to sell in the next 30-45 days. This means is you are considering selling your property, listing now may prove to be prudent strategy.

 

Equally strong are sales with 27 homes selling in the last 12 months just slightly below the 22 sales the year prior.  The increased demand and a sell-off of an over supplied market of listings a few years back is promising. 

 

Even with fewer houses available there are still a number of distractions that foster a buyer's hesitation, whether it is unpredictable international or national events, the financial uncertainty of the State of Connecticut or the coming of age of younger buyers whose desires and goals vary considerably from the previous generation of buyers, there seems to be so many uncertain issues.

 

The Millennial Buyer who wishes to purchase a home that is in tip top condition is one such issue.  It's challenging to discern if the culprit is the HGTV influence or the fact that today's 30-40 year old was not brought up to relate to fixing up houses is unanswered.  Nevertheless a house that needs considerable work or is "tired" or not updated is more often passed over for one that is ready to move in or new.  The better your house presents, the higher the value you will see. 

 

Here is what has happened in the neighborhood in the last year.

 

44 River Road was my listing for over a year.  It was listed on 16.37 acres for $285,000 or on 1.5 acres for $185,000. This 4 bedroom Cape with a 3 season back porch and 1 full and 2 half baths closed in December for $164,000.  The new owner is a full time resident with plans to renovate and update.

 

The adjacent land is now listed at $90,000 for 14.87 acres.  There is a large level front field of about 2 acres, the balance of the land goes uphill and curves around behind the next 3 houses.

 

415 Sharon Goshen Turnpike, Todd Piker's Pottery Store has been sold and that is the reason I delayed this letter.  This business location is prime and the new owners are James and Idella Shepard, the owners of the Cornwall Country Market in Cornwall Bridge.  CJ's Hairworks will continue in his corner location and it is thought that perhaps the balance of the retail space may be divided for new businesses. The building sold for $300,000, above appraised value.

 

When your travels bring you to West Cornwall, please stop by our office for a visit.  We have brochures to give you and the local magazines.  You'll also want to visit our marvelous new neighbor, Pearly's Farmhouse Café, a very tasty addition to the neighborhood.

 

Cordially,

Priscilla Pavel

and the Cornwall Crew:  Dave Hurlburt, Heidi Kearns, Asher Pavel

 

 

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

 

January
8

Bain Real Estate West Cornwall 2017 December Market Report.

Please Click Here To See The Map

 

Dear Neighbor,

In the last 12 months there have been 55 residential sales in Sharon compared to 48 the previous 12 months.  We have been averaging 50 residential house sales in the last 3 years revealing a trend that is now back to pre-2008 levels.  Presently there are 65 house listings for sale in Sharon and that is 10 more than the previous year's offerings.  The fourth quarter of 2017 has been spotty with 16 sales and 6 pending sales but compared with 4th quarter 2016 -18 sales-it still trending in the positive direction.

 

Here are the average statistics for the last two years sales:

 

2015-2016 Sales: Closed (48)

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Avg

3

2

2,133

$529,467

$224.06

$482,284

$206.83

94%

168

                   

2016-2017 Sales: Closed (55)

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Avg

3

3

2,247

$509,624

 

$221.91

 

$465,713

$205.33

92%

168

                   

We seem to have reached a more balanced supply and demand which has now evolved into a more normalized market.  While it is still imperative to list your home at an attractive price, there are now more buyers interested in owning a home here in Sharon. Also encouraging is the fact that there are 2 land sales in contract presently and last year saw 5 land sales. 

 

Here is what has transpired in the West Cornwall Road area this past year:

9 Birch Lane

This privately sited Contemporary Cape offers a rural retreat. Large windows invite the natural light inside while a wrap around deck offers ample room to be outside. Close to State Forest ensure the privacy. There are 3 bedrooms, 2 full baths in this 1400 sq. ft. home and though only built in 2000 the house has been updated including a new bathroom with a jet tub, new kitchen, wood flooring and recessed lighting. The lower level has the potential of additional living space. The 4 acres are level with some partly cleared woods. This home had been on and off the market for over 3 years starting at $427,000.  Final asking price was $329,000 with a sale at $309,000.

 

 

201 West Cornwall Road

Charming 1900's cottage with 1940 sq. ft. and spectacular views over the Housatonic River Valley.  The open floor plan and large widows take full advantage of the views. The library has the original stone fireplace and fir flooring. Second floor balcony wraps around the interior of the house and the cathedral ceiling at the center. There are 4 bedrooms and 2 full baths. An exterior deck wraps around the house and there is a 2 car detached garage. Set on 3 acres that slopes to the east to maintain the views.  Listed for $330,000 and sold for $320,000.

209 West Cornwall Road

Another country Cottage sited next to a babbling brook with seasonal views and complete privacy offers 2 bedrooms and one bath.  There is a living room and dining room open floor plan with a native stone fireplace, wood floors and paneling. Built in the 1960's this house offers 1200 sq. ft. of character with an updated kitchen. There is also a large 3 season porch with access to stone patio overlooking mature gardens and trees. It was listed for 466 days and sold for $297,500 after a number of price reductions.

West Cornwall Road

I sold this large private parcel with the building site set well off the road. Driveway roughed in to the building site that is cleared and offers long and pretty views to the south-east.  The 26 acre property abuts larger parcels as well as the State Forest. It was on the market for nearly two years before closing for $195,000.

 

 

 

And here is what we have for sale:

 

240 West Cornwall Road

This charming early 1800's antique cottage is livable with plenty of ways to add your own personal touches to this simple 1037 sq. ft. home.  There are 2 bedrooms and 1 bathroom, antique floor boards with nice patina.  Set on 2 acres of land it is listed for $159,000.

All our letters are archived on: www.bainrealestate.com under "Neighborhood Sold Stats" on the home page.  Every house for sale in Sharon and surrounding towns in the MLS system is on our website. We include videos on our site as well to improve and sharpen the marketing of homes.  Video is the medium our customers desire so we are on the cutting edge and the only ones using them in the area.  If you have any questions, give us a call and we'll let you know about properties in the neighborhood!  And to you, friends and family have a wonderful holiday season!

 

Respectfully,

Chris Garrity

 

 

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

 

January
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

Welcome to winter in West Cornwall. As you know that means snow/sleet/rain and the occasional spring-like day to really confuse us. Our real estate market reflects the changing weather, too. The newly formed Cornwall Business Association is planning a midwinter "stroll" late day on February 18th. It will include the best known locations like the Wish House and the Wandering Moose as well as other surprises, like Bain Real Estate who will host several other businesses such as Suzie's Sweets and Daval and the Serene Bean! Check out the February Chronicle for details.

At this time last year there were 38 homes for sale in Cornwall. In this calendar year there have only been 10 home sales outside family transfers. One of those sales was a 30 acre property which had been on the market over 3 years originally listed at $1,400,000 and closed at $850,000. Another was a 13 acre property with 2 barns and a fine house which closed in only a few months at $1,320,000 just $55,000 off the asking price. Realistically priced properties are selling even in a slow market. One positive development is that the past 3 months have seen more activity than the first 7 months of the year.

This past year has seen only one property sale in your neighborhood, but we have 2 properties for sale!

52 River Road sold just one year ago. This cape with 2 bedrooms and 1 ½ baths needed updating and some repairs, and is sited on almost 5 acres across the street from the Housatonic River. The large sunny living room features a fireplace and there are wood floors through out the house. Listed at $144,000 and sold at $128,000.

44 River Road is a 4 bedroom cape with a 3 season back porch, dry basement with both a garage and a workshop and a ½ bath. It features both an oil furnace and a wood furnace and will be sold with 3 cords of wood neatly stacked. The top floor has 2 bedrooms, closets and another ½ bath. This is one of those houses that seems bigger inside than it looks from the outside. It comes on 3 lots: house is sited on 1.5 acres, back lot is 8.35 acres, side lot is 6.4 acres for a total of 16.37 acres. This is also my listing at $285,000.

410 Sharon Goshen Turnpike sits high on a hillside behind the West Cornwall Post Office. Asher Pavel has this 1860 Victorian House overlooking the Mill Brook and all of West Cornwall. Sited on nearly an acre (.96 acre), this whimsical house has 2 bedrooms, 3rd floor living room with views all around that make it seem like tree house, balconies and an open porch. Listed at $335,000.

As we enter the New Year, we'd love to talk with you about any real estate needs you may have. Our listings have sold quite well this past year in Cornwall and the surrounding towns. Prices are firming up, and it appears that mortgage rates are also on the rise. That said the time to buy and sell is now. The recent snowfalls auger well for Mohawk and the Cornwall school gym skiers. Our town has so much to offer and we welcome the newcomers.

 

Cordially,

Priscilla Pavel

And also in West Cornwall: Rick Meehan, Heidi Kearns, Dave Hurlburt and Asher Pavel

 

 

 

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

December
1

PLEASE CLICK  HERE TO SEE THE MAP.

Dear Neighbor:

Happy Holidays! We've enjoyed a lovely, long fall with the brightest colors in many years. The Wish House is ringed with bright white wreaths, the Pottery Shop and C J Burke's salon are festively decorated and the brand new sidewalk leads us down to warm food at the Wandering Moose. Holiday gift shopping is in full swing at The Pottery Store and The Wish House plus the 3 art galleries have beautiful objects as well: The Souterain Gallery, Upstairs at Todd Piker's and at Ian Ingersoll's Shaker Furniture. Shaker furniture is one of my favorites, but if you'll stop in at Ian's you will find there is a lot more in stock that is contemporary and beautifully crafted of unusual woods.

For the last 2 years we have reported 3 sales in the neighborhood, this year only 2.

8 Smith Place started out as a barn in the late 19th century and became a home in the early 20th century. It is sited on a hillside which slopes down to Mill Brook. This 3 bedroom 2 bath home has a wood burning stove insert in the first floor living/dining room. The first floor bedroom could also be a marvelous home office with its own entry door. Listed at $169,000., I sold it to a frequent Yelping Hill renter who has Cornwall ties for $130,000.

7 Railroad Annex is a storage/workshop on one level which was sold to a neighbor for delinquent taxes of $7,587.

We have several things for sale in the"hood:"

7 Railroad Street is a commercial rental that I have listed. A handsome gray building across the Plaza from the railroad station offers a 1000 square foot first floor space with a half bath. Track lighting, shelving, built-in areas for desks would make this a good location for a small business, art gallery or? At $800. /month rental, which includes heat and electricity, it is very affordable.

99 Sharon Goshen Turnpike is a converted red barn with great views, deck and swimming pool. 3132 square feet have only been partially developed to include at kitchen, living room, 2 bedrooms and 2 bath rooms. Rick Meehan has this listing sited on 2.33 acres, newly reduced to $325,000.

Almost across the street on Sharon Goshen Turnpike Rick has a 16 acre lot available for $175,000. It is a lightly wooded hillside with a stream and with some tree cutting would offer southerly views.

On Cream Hill Road, abutting the Cornwall Consolidated School, David Bain has listed a 9.6 acre lot with 1500' of road frontage. This wooded lot offers unusual privacy. An almost level driveway could make available several view sites. There is good timber with mature trees. This one needs to be walked to see its potential. $125,000.

Two Sharon listings which I have do have West Cornwall mailing addresses:

240 West Cornwall Road is an 1816 Salt Box with 2 bedrooms, 1 bath room and a brand new propane furnace plus 2 wall mounted heat pumps which supply air conditioning. There is a charming garden shed in side yard. $162,000.

319 Route 7 overlooks the covered bridge. It features a lower level 2 bedroom apartment with a lovely open porch. The upper 2 levels include 5 bedrooms, 3 bath rooms, formal dining room, eat-in kitchen, an office with an exterior door and sunroom porch. Last year we reported it for sale at $375,000. It has been reduced to $299,000.

We look forward to your visit or call. Refer to our www.bainrealestate.com to see all the listings available in Litchfield County.

Cordially yours,

   

Priscilla Pavel

David Bain and Chris Garrity

Asher Pavel, Rick Meehan, Heidi Kearns

November
1

PLEASE TO CLICK TO SEE THE MAP

Dear Neighbor,

The local real estate market was strong in the first quarter of 2015 but quickly evaporated during the summer months. Yet the data shows that the last 12 months has been a bit stronger than the previous year in Sharon. In the last 365 days, there have been 52 sales transactions in Sharon 10 more sales than the prior year(42). To provide historical perspective; in 2011 there were 43 sales and in 2012 there were 37 home sales transactions. So we are continuing a steady but slow growth path and returning good values.

There are 83 home listed for sale presently and 7 homes in contract to sell.

Status: Closed (42) Sales in Sharon October 2013-2014

 

 

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Min

1

1

644

$109,900

$85.71

$50,000

$53.23

.43478

4

Max

9

6

12,057

$6,650,000

$954.88

$6,137,500

$764.67

1.03139

689

Avg

4

3

2,680

$830,331

$248.50

$723,886

$216.03

.86999

190

Median

3

3

2,259

$474,000

$203.80

$436,875

$177.49

.89711

160

Sum

 

 

 

$34,873,900

 

$30,403,219

 

 

 

 

Status: Closed (52) Sales in Sharon October 2014-2015

 

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Min

 

 

576

$50,000

$28.50

$40,000

$27.12

.58632

 

Max

6

6

6,480

$3,950,000

$1,562.50

$3,400,000

$1,500.00

1.22839

931

Avg

3

2

2,517

$767,871

$262.36

$675,945

$234.40

.89541

171

Median

3

2

2,059

$312,000

$193.17

$280,450

$173.09

.89506

105

Sum

 

 

 

$39,929,300

 

$35,149,150

 

 

 

 

Here is what has happened in your neighborhood.

 

164 West Cornwall Road , a well appointed log cabin style home set well off the road on a 4 acre parcel that is adjacent to the Appalachian Trail sold for $371,000 . This home with approximately 1,267 sq feet has three bedrooms and two bathrooms. Built in1984 it has large windows, fireplace, front porch and a three-bay garage with storage room atop.

 

Directly next door we have 26 acres of natural beauty surrounded by state forest land on West Cornwall Road . From this high perch of considerable elevation (over 1100 feet) long south and eastern views are attainable. The parcel is listed for $199,000 with Rick Meehan of our Cornwall office.

 

Rick also sold the neighboring house at 184 West Cornwall Road . Sited atop a 2.13 acre parcel of land with lovely old plantings, this 1384 sq. ft. house has 3 bedrooms and 2 bathrooms. It required considerable renovation and upgrading and the $162,500 sales price reflected those needed improvements.

 

Freddie Mac has a program dubbed "First Look Initiative" which is a way to encourage users rather than investors to buy their bank owned properties. So, for the first three weeks that 229 West Cornwall Road was listed, this house was eligible. Within 55 days the house that was listed for $149,000 sold for $115,000. This 2177 sq. ft. cape style home has 3 bedrooms and 1.5 bathrooms and is in good repair. There are wood floors and carpeting throughout, exposed wood beams, fireplace and a screened porch.

 

240 West Cornwall Road is an antique saltbox that my associate Priscilla Pavel has listed. The first floor bedroom has a bath adjacent while there are two rooms on the second floor. There is a large pantry off the kitchen. This is a simple 1816 style home with nice appointments such as 6 over 6 windows and built-ins on a lovely 2 acre parcel.

It is available for $169,000.

The sale of 293 West Cornwall Road should dispel the concept that all "foreclosed" properties are in need of renovation. This home was completely rebuilt in 2007 and updated throughout. Beautiful refinished pine floors, custom kitchen and bathroom, cedar shake roof, new windows and wonderful stone work made this house move in ready. Set on 2 acres the parcel was cleared and opened in 2007. The house has nearly 1700 sq. ft. offering 4 bedrooms and 1.5 bathrooms. Arguably this home was over improved at an unforeseen and unfortunate time in the market and subjected to the disaster that was the Great Recession; this property was purchased for $290,000 from Wells Fargo.

Rick Meehan sold his listing at 296 West Cornwall Road , a small ranch that looks out upon the covered bridge. The 2 bedroom, 1 bathroom house deserves some loving and skilled attention to become a great investment or as a pleasant place to live. It's a perfect starter house or retirement home with 1094 sq. ft. wood floors and a full basement. With just under an acre, the grounds are easy to maintain. It was listed for $154,400 and closed for $142,000.

A 1920's gambrel roofed shingle home sits high on the hill looking out over the Housatonic River and the West Cornwall Covered Bridge at 319 Route 7. Dramatic views from both porches are seen. The main level porch is enclosed and heated while the lower level porch is part of a separate in-law or rental apartment. With over 3280 square feet the house has great space with 6 bedrooms and 4 bathrooms on 2.2 acres. Priscilla Pavel of my Cornwall office listed the home originally for $375,000 and it is now ready to sell at $299,000.

Up at 7 Swaller Hill Road, Ethan Watt of the Sharon office has a lovely country home listed. It is an idyllic country cottage as it is both simple and functional to enjoy. This 2 bedroom cottage is secreted away on a private 5 acres with a dramatic southern view of the Housatonic River, valley and hills beyond. There is a level open field surrounding the cabin with apple trees and native flora offering a pretty yard. Stone walls, pine groves and hiking trails are all available from the property. There is a native stone fireplace, large deck, oak floors and a walkout basement ideal for a studio. The home is mechanically updated and easy to maintain and available for $285,000.

Further up Swaller Hill and off a quiet graveled road, Birch Lane , is where we have listed a level and wooded 4 acre parcel ready for development. The wooded lot with power available at its border is listed for $130,000.

396 Route 7 is a genuine country cabin perched dramatically above the Housatonic River with views over the water and the valley below. Sited on 10 acres of woods and level land this is a perfect country 1950's log cabin. Woods, river and serenity are found here along with a pool and four electrically lit pool cabanas. The house has 5 bedrooms and two bathrooms and a period native stone fireplace. It is listed for $315,000 and due to close next month!

A 2.7 acre parcel of land was purchased just north on Route 7 for $85,000.

Beside a brook on a nicely sized quiet and cleared 5 acre crest of a hill at 449 Route 7 is this custom built Greek revival style home. Thoughtfully laid out and appointed this house is the work of a master woodworker. The details are numerous and subtle. Built-ins, detailed moldings and trim work, raised paneled walls and coffered ceilings are touches that are rare to find in homes today, certainly rare at the $660,000 sales price.

With 4 bedrooms, 3 and one half bathrooms this 2004 residence offers nearly 3000 sq. ft. of fine home building. Additionally there is a 34x48, 2 level barn with full bath, offering the option as a guest house, party barn or studio/workshop.


As one can read the activity has been busy in Sharon and in particular your neighborhood. Should you wish to know about additional listings in the town or other neighborhoods, just jump on our web site and click through Sharon. Or call us and we would be glad to help with a market perspective.

Respectfully,

Chris Garrity

David Bain

& the Sharon office- Jennifer Luning, Michele Pastre, Joanie Yahn, Ethan Watt, and David Almquist

 

 

 

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.

November
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

Here is the annual real estate report detailing the real estate activity in the last 12 months in the Sharon/West Cornwall neighborhood.

Sharon home sales were slightly ahead of last year's pace with 43 homes sales in the last 12 months against 41 the previous period. The local real estate market is getting healthier incrementally.

Yet there are 92 homes on the market in Sharon (with 7 homes in contract to sell) which is a historically large supply. Salisbury by comparison has 98 listings (9 in contract) and Kent maintains 63 offerings (6 are in contract) each town has approximately 10 more homes on the market than last years' offerings.

Earlier in the year the market was vibrant with a number of homes selling. Spring through mid summertime was also quite strong. The market is traditionally slow as summer ebbs, but the 4th quarter is shaping up nicely as the buyers are more plentiful and a bit more eager to buy. Additionally, the last 12 months has seen 8 land sales according to the CTMLS and the town records. It is especially nice to see the uptick in interest in land.

To put this year in perspective please see the charts below. The first set of statistics show the last twelve months of activity while the second Market Analysis Report is from 10 years ago (prior to the bubble bursting). Ten years ago the houses sold quicker and closed for closer to asking price. But the sq. ft. cost is roughly the same and the number of sales was dramatically lower ten years ago. The average sales price is considerably higher too.

Market Analysis Report 2013-2014

Property Type: Residential

Status: Closed/Sold

Number of Properties: 43

 

 

Beds

Baths

SqFt

Listing Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Average

3

2.57

2,664

$883,695

$279.05

$776,819

$245.89

87.2%

189

Median

3

2.5

2,202

$499,000

$208.73

$453,750

$182.45

89.9%

155

 

 

Market Analysis Report 2003-2004

Property Type: Residential

Status: Closed/Sold

Number of Properties: 24

 

 

Beds

Baths

SqFt

Listing Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Average

3

2.24

1,964

$459,042

$222.62

$422,750

$206.49

93.26%

132

Median

3

2.05

1,830

$385,000

$210.26

$355,000

$194.38

92.86%

77

 

 

So it appears the current trends are positive!

There was only one property in the neighborhood that sold in the last twelve months. It was a one acre parcel of land abutting the Housatonic River on Old Route 7. It was listed at $75,000 and closed this October for $68,000.

Here are a few things we currently have listed in the neighborhood (to see everything available in Sharon go to out web site www.bainrealestate.com ):

There are 30 acres of natural beauty surrounded by state forest land that is included with the house at 184 West Cornwall Road . It's made up of 3 surveyed parcels: The 1384 sq. ft. house comes with 2.13 acres and has 3 bedrooms and 2 bathrooms. It requires some renovation and upgrading. The balance of land is a separate parcel that has considerable elevation (over 1100 feet) offering views to the south and east. The whole package is listed by Rick Meehan of the Cornwall office for $365,000.

A 1920's gambrel roofed shingle home sits high on the hill looking out over the Housatonic River and the West Cornwall Covered Bridge at 319 Route 7. Dramatic views from both porches. Main level porch is enclosed and heated. Lower level porch is part of a separate in-law or rental apartment. With over 3280 square feet the house has great space with 6 bedrooms and 4 bathrooms on 2.2 acres. Priscilla Pavel of my Cornwall office has this listed for $375,000.

Rick has also listed 296 West Cornwall Road a small ranch that looks out upon the covered bridge. The 2 bedroom, 1 bathroom house deserves some loving and skilled attention to become a great investment or as a pleasant place to live. It's a great starter house or retirement home with 1094 sq. ft., wood floors and a full basement. With just under an acre, the grounds are easy to maintain. It is listed for $154,400.

Up off Swaller Hill Road we have a 21.14 acre parcel of land with views to the southeast and solar centric listed for sale. Primarily wooded this parcel is slightly sloped to the east. It is listed for $299,000.

Further up Swaller Hill off a quiet graveled road is where we have listed a solar A frame home at 9 Birch Lane. The 2000 sq. ft. home is very privately sited on the 4 acre level lot and offers 3 bedrooms, 2 baths and a lower level ready to be finished. There is a large deck and oversized windows to promote the ease of both inside and outside living. It is listed for $355,000.

Across the street we have a level and wooded 4 acre parcel on Birch Lane ready for development. The lot is listed for $140,000.

396 Route 7 is a genuine country cabin perched dramatically above the Housatonic River with views over the water and the valley below. Sited on 10 acres of woods and level land this is a 1950's log cabin and a perfect place to enjoy the country. Woods, river and serenity are found here along with a pool and four electrically lit pool cabanas. The house has 5 bedrooms and two bathrooms and a period native stone fireplace. It is listed for $345,000.

Respectfully,

Chris Garrity

David Bain

& the Sharon office- Jennifer Lunning, Michele Pastre, Sam FitzGerald, Drew Holland and David Almquist

 

 

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