Posts from August 29th, 2022
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Bain Real Estate 2022 June Ellsworth Market Report
Dear Neighbor,
We have rebooted our informative neighborhood letters after the COVID hiatus. Though, as you likely know, the real estate market in Sharon, the county, the state and the world didn't take a hiatus, but rather went nuts. So, we've a bit to catch up on.
In our 40-plus years of selling, we've never experienced a panic of this magnitude. People's fear of living in a densely packed city and the health crisis it triggered created a relocation flight decimating our inventory. Today, Sharon has only 11 homes listed and values have surged to levels not seen in over 15 years.
A 15%-20% increase in home values is not uncommon and in some of the upper-end homes we saw even higher escalations.
There were 16 sales in your neighborhood in the last year and 50 total sales in Sharon- the sales transactions are down nearly 50% from the height of the COVID rush, but this reduction is due to limited inventory, not demand. In fact when a house hits the...