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November
1

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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.