Dear Neighbor,

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The strengthening of real estate market has been increasing for two years as seen in the diminishing inventory of homes for sale.  In 2015 there were 70 houses available for sale in Sharon. Today we have 59 residential homes available in this spring market.  So, of course we need more listings-so if you are considering selling, call us.

Equally brisk are sales with 47 homes selling in the last 12 months just slightly below the 51 sales the year prior.  The increased demand and a sell-off of an over supplied market of 75 listings a few years back is critical to solidify values.  There are also 9 homes in contract to sell-off which my firm is participating in 4 of them. 

Even with fewer houses available there are still a number of distractions that foster a buyer's hesitation when considering a purchase. 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. 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 and the sooner it attracts a buyer. 

Here is what has happened in the neighborhood since our last letter:

1 Northrup Road is a peaceful five acre parcel in a pastoral, gently rolling topography. The parcel had been tested and surveyed and approved for the suitability to build. This parcel had been on the market for a long period of time and was last listed for $85,000.  We sold it sold for $75,000.

Directly next door, my partner David Bain sold 7 Northrup Road, a one level, one bedroom modern styled home. A winding driveway spans a boisterous tumbling brook and brings one to this A1 award winning 1664 sq. ft. retreat. Surrounded by 20 acres this exquisitely designed home utilizes efficiently every inch of space. From the Sub Zero to the centrally located fireplace to the deluxe master bedroom, this architectural gem provides maximum of pleasure and comfort in a minimalist package. This special home focuses on easy living, its 50' long pool, its secluded location and distant views. Listed and sold for $570,000 this property lasted 46 days on the market.

2 Northrup Road is a 1922 hideaway nestled amidst 9 acres of pine forest. It has been renovated and expanded to 1715 sq. ft. open floor plan.  The living and dining areas feature a fireplace with pillars, crown molding and French doors to a deck. The eat-in kitchen has bead board faced cabinetry, a built-in bookcase and pantry. There are three bedrooms and two and one half baths all on one level.  The master bedroom offers vaulted ceilings, French doors to the deck, a walk-in closet and full bath with soaking tub. The acreage includes a mix of woodlands, a small brook that passes through one corner of the property and rock outcroppings typical of the Connecticut countryside. It sold for $425,000 after a year on the market with an original asking price of $499,500

Mountain House at 12 Old Sharon Road #2, is perched on a precipice to optimize the panoramic views of the hills of Cornwall. Picture windows offer both the views and invite nature to light the interior. In an open floor plan the soaring beamed living room ceiling highlights the floor-to-ceiling native stone fireplace. The large formal dining room opens to the 900sq. ft. deck. The designer galley kitchen has high-end stainless appliances and a custom marble sink. The master bedroom has long views, a luxurious bath with shower and soaking tub. Two guest bedrooms, each en-suite are comfortably designed.  Stone terraces surround the house with over 5000 sq. ft. of patio space accessed from almost every room. This house was listed for $1,200,000 and sold for $1,166,250 in less than a month. This house had sold for $930,000 only two years prior and while the owner improved the property they still saw a considerable value increase of near 25%.

5 Guinea Road is a charming 2,200 sq. ft. country home for the outdoor enthusiast. Set on a dead-end town maintained road close to the Housatonic River and Appalachian trail, this 3-bedroom home is set on 3.8 acres and is filled with nice details, from the slate floored mudroom to the stone fireplace in the living room. The kitchen is open to the family room and dining room for the open living.  There is a small screened porch and a large front deck. But to understand how much the market has changed in the last few years this house offers a good example. This house has been on and off the market since 2010 starting at $329,000. There is no cable internet access here which sank a transaction when listed in 2010 for $295,000.  In 2016, it was listed and still did not sell.  Returning to the market 7 months later and in a stronger market, the list price was $225,000 and sold for $220,000 in 16 days.

With direct frontage on the Housatonic River, Dave Fairty of my office sold the property at 18 River Road. This charming 1860's eyebrow colonial has 1000 sq. ft. but every bit needs tender loving care. There is a nice stone fireplace, wood floors, front porch and land with garden area.

It was sold for $200,000 and yet listed for $169,900 that in of itself is another sign of the market's continued improvement.

There are a few offerings on the market and if interested call us, stop by the office or visit our website at www.bainrealestate.com.   One can find not only the aforementioned listings and sales but also one can find this letter and all other Sharon neighborhood letters archived on our site too. And if you wish to follow our blog for new listings, sales and other interesting real estate tidbits join up from our website. 

All the best,

Chris Garrity &

David Bain

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