Bain Real Estate Sharon 2018 Mudge Pond Market Report.
Is there equilibrium in the market after 10 years? From the bottom of the market in 2009 to today, there has been a slow, arduous climb of local real estate values. In the ensuing ten years values have improved with buyers returning to the market; returning with a tempered desire to purchase however. Sellers in turn reacted by lowering asking prices that has appealed to the buyer. So, growth occurred. For perspective, 139 Millerton Road had sold in 2012 (post-recession) for $1,550,000. It sold again recently (detailed below) for $1,700,000 offering a 9% increase over a 6 year period.
In the last five years, 2013-2018, the average sales price was $7,600 greater than the first five years after the Great Recession. And interestingly, in the last 365 days there were 50 sales in Sharon while there are only 50 listings actively for sale. Plus, there are 6 properties in contract presently. There have also been a number of properties sold directly without market exposure that has not figured into this data.
So, here are the details of what has transpired in the last 21 months.
271 Millerton Road is a waterfront cottage on Indian Lake on a third of an acre. There are 720 square feet with kitchen, living room, 2 bedrooms and a full bath. It is a cute house on a lovely setting that was on the market for 762 days. Listed originally for $189,900 it closed for $140,000.
220 Millerton Road, just across the street, is a 3 bedroom 1.5 bath custom built home on .63 acre. This 1963 home features an open living room with large windows overlooking Indian Lake and neighboring farmland. There is a full walk out basement with 2 car garage. It was listed for $249,900 and listed for 311 days finally selling for $208,000.
139 Millerton Road is a 5,500 sq. foot home that sits well up on a high ridge on a 13 acre open field. With 5 bedrooms, 3 fireplaces, 6 full and 2 half bathrooms this home is a well designed and styled country home. Views to east and west offer incredible sun which makes using the pool and the stone patio a delight. Privately listed, this home sold for $1,700,000.
Another private sale occurred at 27 Mudge Pond Road, a 988 cottage that was first built in 1930. The 2 bedroom, 1 bathroom cabin needs some improvements. In the 15 years there was a 29% increase in value even with the setback of the Great Recession. It sold for $70,000.
21 Mudge Pond Road is a cedar shake cottage across from Silver Lake. There is an open, spacious yard that is level and well landscaped. This restored vintage cottage has refinished wood floors, 3 bedrooms, 2 baths, a large family room, large living room, dining room & sun porch. The kitchen is new with farmhouse cabinetry & stainless appliances. Open front porch with winter views of the lake. Bought for $123,000 in 2014, renovated and listed for sale at $339,000 this house sold after three years for $217,500.
50 Gay Street is a spacious and well-maintained antique conveniently located in the village. This 4-bedroom, 1.5-bath on .6 acre is nicely set back from road offering a large lawn. There are 1596 square feet built in 1923 but now offers several new windows and beautiful wood floors, built-in bookshelves, French doors, and wood trim make this a special in-town residence that sold for $200,000. It was listed in the spring in 2016 for $282,000 and sold in 2017.
104 Gay Street is a 1960's home of 3100 sq. ft. on 3.6 acres of land. With 3 bedrooms and 2.5 bathrooms this house has hardwood flooring and a fireplace. It sold directly for $320,000.
Over on Grandview Lane there were two sales. First a 6 acre parcel of land that was once open field and is presently covered in light woods and a pond. With clearing, nice views will be attained. This property has been on the market since 2009 and sold for $202,500.
17 Grandview Lane is a 5,675 sq. ft. colonial with southwestern views over hay fields. The 1990's house blends modern and country chic design. A 2-story entry invites sunlight. The study has a fireplace surrounded by built-in shelves, while the living room features french doors that lead outside to a stone patio. The spacious master suite has a private sitting room and fireplace. Four additional bedrooms and 5.5 bathrooms are also included. A Gunite pool, barn and gazebo, ensconced in whimsical gardens, are part of the 6-acre estate which sold for $1,655,000 after a listing period of 151 days. It was initially listed for $2,195,000.
194 Low Road is an antique (c. 1900) Cape Cod has been stylishly renovated to accommodate today's comforts and convenience. Sited on 6 acres the property entails expansive lawns, pond, salt water pool, 3-car garage, and 2-stall horse barn/stable. The interior has quality details throughout: wide plank walnut flooring, high ceilings, 3 fireplaces, custom millwork. The painted paneled dining room has a fireplace and opens to a book case lined study. The main level master includes a fireplace and soaking tub. Additionally there is a screened-in porch with brick floor and an open terrace overlooking the salt-water pool. It closed for $1,360,000 after being on and off the market for years.
An open floor plan home has a modern flair in a house that was originally built in the 1960s. 208 Low Road is nicely renovated with new solid oak floors; state of the art kitchen/dining area with wood burning fireplace with access through French doors to the master crafted screened-in porch. An easy indoor-outdoor floor plan, renovated in 2015, this 1920 sq. ft. house include 3-bedroom, 2.5 bathroom and family room in the basement with a wood burning fireplace. Set on a level lawn with privacy on 3.16 acres sold for $550,000.
172 Mudge Pond Road is privately sited offering 10 acres with frontage on Mudge Pond. The 3,400 sq. ft. house is a 4 bedroom, 4.5-bath colonial revival facing south with large open rooms opening up on a deck that surrounds a swimming pool. The second floor master bedroom reveals views of Mudge Pond and the hills beyond. It sold for $975,000 within 62 days of being listed at $1,250,000.
This didn't last long on the market. 22 Dug Road is a cozy 1331 sq. ft., 2-bedroom, 2-bath antique cottage overlooking a large open meadow. Built in 1775 the living room is light filled with a beamed cathedral ceiling and fireplace. The kitchen is small but functional and open to the bright dining room. The master bedroom has slider to new terrace with views over the .83 landscaped acres. Sold in 4 days this house was last sold in 2009 for $355,000 and closed 8 years later for $420,000. More than a 15% increase in value.
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 &
Please note that not all listings and sales transactions are through David Bain Real Estate