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Date Archives: April 2014

Bain Real Estate - Market Update Home

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Bulls Bridge | 4 Posts
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Ellsworth | 5 Posts
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Long Mountain | 2 Posts
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Mid Cornwall | 5 Posts
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Route 7 South | 3 Posts
Segar Mountain | 6 Posts
Sharon Mountain | 4 Posts
Sharon Village | 4 Posts
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Westwoods | 4 Posts
White Hollow | 4 Posts
April
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

The last 12 months were extremely positive for the local real estate market and businesses alike. 2013 marked a period in which the market began to shift ever so slowly from an undervalued market to a more level market. Many of the properties under pressure from the economic turndown were finally taken off the market.

 

The momentum continues as our local real estate market is active, and values are stronger. Selling time has dropped to 6 months (5-7 months indicates a normal market). A 14% growth in transactions was seen in Litchfield County in 2013 and 17% in dollar sales. We at Bain had another productive year with very strong sales and the first quarter is showing very strong sales figures despite Old Man Winter's grip. We appreciate your continued support and trust.

 

There are presently 58 homes (5 in contract to sell) and 23 parcels of land (1 in contract) on the market in Sharon which is considerably lower than the figure of 70 we had nearly three years ago.

 

Sharon Market Report April 2013-2014

Property Type: Residential

Status: Closed/Sold

Number of Properties: 46

 

 

Beds

Baths

SqFt

Listing Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

High

5

5.5

4,715

$1,895,000

$472.12

$1,600,000

$415.92

103.1%

784

Low

1

1

972

$125,000

$81.62

$80,000

$61.92

64%

4

Average

3

2.34

2,220

$510,696

$222.34

$452,994

$198.7

89.87%

175

Median

3

2

2,063

$432,000

$214.31

$405,000

$198.39

91.05%

114

 

 

 

Sharon Market Report April 2012-2013

Property Type: Residential

Status: Closed/Sold

Number of Properties: 33

 

 

Beds

Baths

SqFt

Listing Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

High

8

7

9,720

$1,995,000

$519.61

$1,870,000

$486.93

100.4%

987

Low

2

1

768

$180,000

$84.88

$145,000

$66.87

75.8%

7

Average

3

2.6

2,416

$516,206

$219.18

$470,977

$200.8

90.88%

227

Median

3

2.5

2,100

$439,000

$186.49

$405,000

$170.43

92.3%

161

 

 

There were 46 residential sales in the last twelve months, a 28% increase over the previous 12 months. Of note, the time on market dropped by nearly two months. All of these data points reveal a market that is trending in a very positive direction for values.

 

Buyer confidence is growing and the pool of prospects has been steadily increasing.

But pricing is still critical to keep the interest of the buyers. You've heard it before, a well priced house gets the buyer's attention, and it is still true. Let's see what sold!

 

Here is what sold in the neighborhood:

34 River Road is a 1 bedroom, 1 bathroom barn style home that sits on the banks of a rushing brook and offers nice privacy. This 1850's structure has 972 sq. ft. with a two story vaulted living room. There is a large deck and an apple orchard. The property closed in July for $292,500.

Rick Meehan of our Cornwall office assisted the buyer of 22 Vanishing Brook a three bedroom two bathroom house of 2262 square feet. This home sits on a private, end of the road site of 2.2 acres. Constructed in 1990 this split level ranch is in good condition and maintains a 2 car garage. It closed for $275,000 in August of 2013.

Here are some listings in the neighborhood:

 

We have the neighboring land on Vanishing Brook on the market for sale. This level open field has a bit of woods in which to site a new home. The private road is low key with some home values over a million dollars. This 10.4 acre lot is listed for $299,000.

Priscilla Pavel of my firm has listed a privately sited contemporary with views at 12 Old Sharon Road. In impeccable condition with fabulous architectural detailing at the end of a long gravel drive this 3 bedroom, 3-bathroom is Shangri-La. This 2500 sq. ft. home has creative decor, soaring ceilings, wonderful mix of textures and an awareness of nature. Long views are seen from many rooms, while other rooms open on to private native stone terraces or secret grottos. It is listed for $1,250,000.

Up at 12 Silver Hill Road Sam Fitzgerald of the Sharon office has this 1980's country contemporary listed for $669,000. With nearly 2400 sq. ft. of living space this 3 bedroom, 2 and a half bathroom home is set up high on the three acre parcel. The great room is book lined and maintains a fireplace, while the living room is graced with a fireplace and a large deck.

There are a number of other listings in the neighborhood that can be found on our website. Please take a look.

We hope this Spring brings you lots of sunshine and pretty flowers! And should you wish to discuss your property, the market conditions or anything else with respect to local real estate, please give us a call and we will gladly help. As the leading real estate experts in the Sharon, Cornwall and Kent area, we offer our best professional efforts to you.

Thanks in advance.

All the best,

Chris Garrity

 

David Bain

And the Sharon office- Sam FitzGerald and David Almquist

 

 

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

April
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

Spring- and the Mudge Pond neighborhood is alive with the birds chirping at 5:00AM, the peepers boisterous and the daffodils bursting. This year it is especially welcomed after that hard, hard winter.

Over the last 12 months we have seen a season-like change in the real estate market.2013 marked a period in which the market started to shift subtly.  Many of the properties under pressure from the economic turndown were sold leaving more market valued homes to compete for buyers.

Nationally the growth of values in many regions is palpable.  The economy is starting to get legs and many segments have reported stronger than average figures. Confidence is up.

Values are also stronger locally and seemingly getting more solid weekly. The second home/vacation home market that we rely on is the strongest it has been in years with 2103 posting a 29.7% increase over 2012 sales.  Selling time has dropped to under 6 months (5-7 months indicates a normal market). A 14% growth in transactions was seen in Litchfield County in 2013 and 17% in dollar sales. We at Bain had another productive year with very strong sales.  We appreciate your continued support and trust.

There are presently 66 homes and 23 parcels of land on the market in Sharon which is considerably more than our neighboring towns. There were 47 residential sales in the last twelve months, well above last year's pace of 33 sales. There were 6 land sales this past year compared to only 3 in the 2012 period. 




  


Of note, the average sales price has remained fairly stable.  These data points reveal a market that has healed well and is now improving albeit slowly.

Yet, while seller's confidence grows the pool of prospects is still rather low.  Keeping the interest of the buyers' means proper pricing is still critical.  It is not surprising that with attractive pricing, a more stable market and buyer confidence we are seeing multiple offer scenarios.  There are presently only 3 residential and 3 land properties in contract to sell in Sharon. We've said it before, a well priced property gets the buyer's attention, and it is still true. Let's see what sold!

Homes - Sold


#62 Gay Street
is an antique home that I assisted the buyers in acquiring. There are 3 bedrooms a renovated kitchen and two bathrooms. The lower level offers a comfortable family room, kitchen and living room. There is a large master suite on the main floor. The land is fairly level and open, perfect for a garden. The house was in foreclosure and was being offered for $171,500 and sold for that price.



#7 Holland
 has a lovely and comfortable country cottage feel. The brick floored family room, spacious living room with stone fireplace and the greenhouse make this a cozy feeling home. The kitchen opens to family room making for inclusive. This 2 bedroom, one level home is set amidst beautiful gardens and landscaped fruit trees.  This home was listed for $285,000 and I sold it for  $255,000 in November.   

 

#300 Millerton Road
has a lovely and comfortable country home feel. The living room with skylights and a stone fireplace make this a cozy feeling home. The expansive and sun filled kitchen is perfect for entertainment. Manageable and clean with 3 bedrooms and baths this one level home is set amidst beautiful gardens, bluestone patio and grounds dotted with fruit and native trees.  This home sold for $522,500.


Homes – For Sale

#277 Low Road
a country house on .56 acres. The house has 3 bedrooms and 2 bathrooms. The house is being offered for $259,000 



 

Land - Sold

Drum Road
is a large parcel of land measuring 36 acres. All woods with considerable sloped land there was space for building a privately sited home. The land was listed for 875 days and sold for $132,000.



 
Land –For Sale

Gay Street
is a 2.69 acre parcel of land with a brook. This wooded parcel has some sloped land but is development ready. The land is listed for $85,000. 




  
There are a number of additional properties in the neighborhood that are listed for sale. They can be found, with all of the current Sharon listings 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. Or follow our Sharon Blog - http://hillsofsharon.blogspot.com/

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 

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