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Email Post to a Friend: Bain Real Estate 2022 June Silver Lake Market Report

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August
31

 

Dear Neighbor,

We are rebooting our informative neighborhood letters after having our office "closed" over the last 12 months. I say "closed" because as you likely know, the real estate market in Sharon and the county and the state and the world, went nuts. So, we've actually been quite "open".

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 19 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. Perfect example is a house I sold in Jan. 2019 for $645,000 and it came back on the market in July 2020 for $795,000 and sold for $810,000 within a few days. And there are some forecasts of another 15% increase in the next year.

There were __ sales in your neighborhood in the last year and 93 total sales in Sharon-30 more sales than in the pre-Covid era. For comparison there should be about 45 homes on the market.

Attached is a condensed version of what has sold in your neighborhood in the last year.

We hope you are well and keep strong spirits. We feel so fortunate to be here, continuing working and thriving in this very curious time. Thank you.

 

40 Robert Street        11/24/2021         $264,000

Move-in ready 1950's cottage with mid-century finishes. It is part of the Silver Lake Shores Community with access to lifeguarded beach and boat launch. The cottage has three bedrooms or two bedrooms with an office plus one full bath and one-half bath, both renovated. The kitchen retains original cabinets and cast iron sink with newer appliances and granite countertops. Open living/dining room with wood-burning fireplace and coffered ceiling. There are refinished wood floors throughout, a sizable wrap-around deck, full basement, and 2-car garage. Property is 1/8 of a mile from Silver Lake and close to the towns of Sharon, Millerton NY, and the Wassaic Train Station.

 

42 Bartram Road      12/7/2021           $247,000

 This renovated lake cottage is just 2 hours from NYC! Find your retreat next to Mudge Pond with its private beach & boat lunch for kayaking & fishing. Renovated by its current owner, this adorable cottage has been updated top to bottom & is move-in ready & can be delivered furnished, just in time for you to enjoy the holidays. The most recent upgrades include: furnace, flooring, insulation, hot water heater, gas fireplace, new appliances, washer, dryer &, fast internet connection. This property is unique as it is one of the few homes on Bartram Road with views of Mudge Pond. The home is cozy & comfortable with dining room, kitchen, and complete with island, new appliances. There is plenty of storage, living room with a gas fireplace, & a small den that would fit a twin bed for guests or an office. The loft area in the attic can be transformed to additional seating area or a yoga room. Located close to Lime Rock Park, Hotchkiss, Salisbury, & IMS, skiing, hiking, antiquing, & all of the cultural art & music activities the southern Berkshires has to offer & just 10 min from Wassaic Train Station.

 

104 Cedar Road        8/18/2021        $350,000

This retreat is just steps to Mudge Pond with its private beach and boat lunch for kayaking and fishing. The property features a back patio surrounded by mature landscaping or with four bedrooms, a full kitchen and dining, and a surround sound system. This home has been meticulously renovated by the current owners and is completely turn-key. It has everything for entertaining and comfortable living and all the amenities for either a full-time residence or a weekend home, with room for work from home and extra space for a home gym, and also features fantastic light and sunset views with central heat and AC. Landscaping is professionally maintained. Leased solar panels and propane heat for energy efficiency. Features a full house generator hook up, a two-bay garage with radiant heat is the ultimate dream for a car enthusiast, features a loft, and could be transformed into a fantastic party barn for the entertainer.

 

143 Cedar Road                   10/01/2021       $330,000

This home contains three bedrooms, two and a half bath house with solar, central air, heated swimming pool, Jacuzzi, small greenhouse, fruit trees, barn, large back yard and access rights to Mudge Pond. All the amenities of a summer camp are offered in the property. And it looks like a bumper year for the fruit trees!

104 Bartram Road    5/4/2021      $705,000  -
This Fannie Mae Cape cod home has great potential in this very quiet location. The home has hardwood flooring, sky lights in the bedrooms, large rooms with a full bath on both floors, 2 car garage and a walk out basement.

The market is still very brisk with only 19 homes listed in all of Sharon and 16 homes in contract to sell.  For those considering selling, it's the perfect time. We only caution that you have a place to relocate to.  So if we can assist, call us, stop by the office or visit our website at www.bainrealestate.com.  Lastly, we are able to send this letter out digitally, so email us and we will add you to the list.

Have a Safe and Healthy Summer!

Chris Garrity

David Bain & Associates-Toni Soule, Debbie Bain, Erin Hull, Amy Danis, Amy Longley,

 Heidi Kearns, Victoria Colombatto and Elisa Waysenson.

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