Posts from March 1st, 2014
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1
Bain Real Estate Cornwall Hollow 2014 March Market Report
PLEASE CLICK HERE TO SEE THE MAP.
Dear Neighbor:
Thank goodness Spring is almost here. It has been the longest, snowiest, coldest winter of recent memory. The good news in real estate is that interest rates remain well below 5% and calls to buy are increasing. We in Cornwall are still a buyer's market, but the less expensive listings are quickly being sold. There have been two foreclosures in Cornwall Bridge and both houses are now on the market.
Last year we reported 6 sales in the neighborhood, this year we had 4: 2 homes, 2 lots.
282 Town Street sold for
1
Bain Real Estate Sharon Mountain 2014 March Market Report
PLEASE CLICK HERE TO SEE THE MAP.
Dear Neighbor,
The Sharon real estate market is continuing the momentum that began in 2013. In the last 12 months the market has seen an increase in activity and sales. There were 40 sales transactions in the last year, 5 more sales over the previous 12 months.
Nationally we are seeing an increase in sales with the Northeastern section of America gaining over 7% in house sales and a 5.5% increase in prices from last year.
Our local real estate market is more active, and getting healthier incrementally as well. Values are solidifying as we see year over year stability in the sales to list price ratio. We also see the Days On Market (ADOM) dropping by two months on average. We, at Bain had another productive year with very strong sales and we appreciate both your continued support and ongoing trust.
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Sharon 2013-Sales |
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Sharon 2012-Sales |
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There are presently 57 homes on the market in Sharon which is approximately the figure we had a year ago. Yet, while buyer confidence grows the pool of prospects is still historically lower. To keep the interest of the buyers, proper pricing is still critical. There are presently 7 properties in contract to sell in Sharon- one here on Sharon Mountain. You've heard it before; a well priced house gets the buyer's attention. Here is what sold!
This first property is an example of the return of the real estate market. It was sold, as reported in last year's letter for $360,000 out of foreclosure. A builder bought it, fixed it up, listed it for $650,000 and sold it for $620,000 last September. The new owner held it for a month and put it back on the market for $685,000 and it promptly sold for $655,000 in December.
Here is what has transpired in the last 12 months in your neighborhood.
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429 Cornwall Bridge Rd Price: $650,000 Sold:$620,000 |
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Sold:Sept 2013 DOM: 29 Comments: Builder improved home with new appliances and bath fixtures. |
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429 Cornwall Bridge Rd Price: $685,000 Sold:$655,000 |
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DOM: 10 Comments: Newly renovated. Mint condition. |
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27 Red Horse Hill Sold at:$510,000 |
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Price: $595,000 DOM: 56 Comments: Needs complete renovation & structural issues. Private views and greenhouse |
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Lot-Red Horse Hill Sold:$80,000 |
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Price: $110,000 DOM: 2 |
NO PICTURE
Vacant Land |
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70 Bowne Road Sold at:$249,900 |
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Price: $274,900 DOM: 161 Comments: Private. New furnace, wood floors, 2 car garage. |
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100 Sharon Mtn Rd Sold at:$180,000 |
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Price: $210,000 DOM: 110
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90 Sharon Mtn Rd Sold at:$467,500 |
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Price: $695,000 DOM: 450 Acres:15 Beds:2/ Baths:1 |
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40 Sharon Mountain Sold at:$617,800 |
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Price: Not on Market DOM: NA |
NO PICTURE Comments: 2362 sq. ft. antique colonial farmhouse with a lower than average rating from the assessor. Distant views and open and wooded parcel of land. |
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339 Cornwall Brdg. Rd Sold at:$290,000 |
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Price: $319,000 Acres:1.74
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Lot -Butter Road Sold at:$100,000 |
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Price: $145,000 DOM: 264 |
NO PICTURE Comments: Cleared wood lot with views and privacy. Long driveway access to site. |
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74 Sharon Mountain Rd Sold at:$555,000 |
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Price: $589,500 DOM: 350 Comments: Country home with Swedish stoves, 2 fireplaces, pool and open floor plan & open land |
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16 Jackson Hill Road Sold at:$590,000 |
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Price: $649,000 Comments: 1500 sq. ft. Contemporary home in exceptional condition. Screened porches, balcony views. |
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270 Cornwall Brdg. Rd Sold at:$156,000 |
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Price: $170,000 Comments: Ranch requiring updating of kitchen/baths. Oak flooring, fireplace and storage barn. |
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All of the current Sharon listings can be seen on our website www.bainrealestate.com. I encourage you to visit it. It's loaded with information about listings, sales, our towns and these letters (see Neighborhood Stats). There is also a way there to get direct email posting of new listings as they hit the market.
And if you know anyone thinking of selling their property, we would like the opportunity to talk to them about our marketing. Thanks. I'll write again in a year to let you know what's happened.
Respectfully,
Chris Garrity
David Bain
And the Sharon office- Sam FitzGerald and David Almquist
1
Bain Real Estate Lake Waramaug 2014 March Market Report
PLEASE CLICK HERE TO SEE THE MAP.
Dear Neighbor,
This is our 11th annual letter telling you what's happened around the lake. We hope you have found them interesting and helpful. If you would like to review the history of the past letters and maps they are on our web site under "Neighborhood Stats."
This past year there was a lot of positive activity around the lake. There were 10 house sales averaging $2,181,000 as compared to last year's average of $1,836,000 and the previous year's average of $1,544,000. Things are definitely looking up on the lake!!
Starting on the west side, here's what's sold in the last year on the lake:
| 74 Lake Waramaug Road in Kent is a 2381 square foot 3 bedroom 3 bath contemporary colonial built in 1993 on 6.54 acres. Set far back from the road, it also has a pool and almost 900' of waterfront across the road. It was first listed for $2,495,000 in 2012 and sold in July for $1,775,000, down from its last list price of $2,100,000. | |
| 35 Arrowpoint is a 2318 square foot contemporary with 3 bedrooms and 2 baths built in 1993 on 1.16 acres with direct waterfront. It came on the market in April of 2012 for $1,995,000 and finally sold this September for $1,375,000, at its last list price of $1,375,000. | |
| 41 Arrowpoint is a 6200 square foot colonial built in 1997 on 2 acres with 4 bedrooms and 4 baths. It is arguably one of the best houses on the lake with a long lake front, fabulous long lake views, gardens, terraces and gorgeous dock. It sold in 67 days last August for $5,600,000, down from its list price of $6,760,000. | |
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117 North Shore Road is a 2142 square foot colonial built in 1960 on 1.28 acres. It has 4 bedrooms and 2 baths and 170' of lake front across the road. Originally listed for $2,400,000 in May of 2008, Eve Iselin of my Kent office sold it this past September for $1,485,000, down from its last list price of $1,595,000. |
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| 35 Bliss Road is a 4092 square foot architect designed barn style home built in 1977 on 15.11 acres with 4 bedrooms, 6.5 baths and pool with spectacular lake views. Originally listed for $4,200,000 in September of 2008, it sold last October for $3,200,000, down from its last list price of $3,500,000. | |
| 365 Lake Road is a 2117 square foot cottage with 4 bedrooms and 2 baths originally built in 1905 on 3.08 acres, some of which is across Rt. 45 and mostly wet but with direct lake front. The home was first listed in December of 2011 for $1,395,000 it sold in July for $800,000, down from its last list price of $1,285,000. | |
| 387 Lake Road, known as The Boulders Inn, is a 16,171 sq. ft. Inn with 20 bedrooms and 20 baths built on 5.8 acres. It included a number of out buildings and 500' of lake front and abutted land trust holdings. It was first listed in May of 2012 for $6,000,000 and sold for $4,000,000 in November. | |
| 19 Tinker Hill Road is a 2.34 acre building lot with a view of the lake and a 10' easement to the water that was originally listed for $249,900 in January of 2012, dropped to $169,000 in August and sold for $105,000 in September. | |
| 27 West Shore Road is a 2000 sq. ft. cottage with 3 bedrooms and 3 baths built on .4 of an acre. It had a guest house, concrete dock and good parking. It was first listed in September of 2011 for $850,000 and sold for $520,000 in September, down from its last list price of $575,000. | |
| 44 West Shore Road is just a dock on .01 acres that gives lake access. It was listed for $50,000 in April and sold immediately | |
| 139 West Shore Road is a 2281 sq. ft. colonial with 3 bedrooms and 3 baths built on .78 of an acre with a sweeping lawn down to the road and a boat house and dock on the other side of the road. It was listed in April of 2013 for $2,100,000 and sold in June for $2,530,000! |
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| 255 West Shore Road is a 1344 sq. ft. cape with 4 bedrooms and 1 bath built on .89 of an acre with a dock on the other side of the road. It was listed in June of 2013 for $650,000 and closed in September for $525,000. |
If you or your friends need any real estate help, please keep us in mind. You can find all the properties for sale on our website, www.bainrealestate.com. You can also receive this letter and other neighborhood real estate information by leaving your email address there or sending it to me at db@bainrealestate.com. Have a great spring/summer. I will write again next year.
Sincerely,
David Bain
Chris Garrity
And the Kent office-Toni Soule, Marilyn DeVos, Eve Iselin and Scott Harvey
Please note that not all listings and sales transactions are through David Bain Real Estate.