Get new listings emailed daily! SIGN UP LOGIN

Date Archives: December 1st, 2022

Bain Real Estate - Market Update Home

rss logo RSS Feed
Bulls Bridge | 4 Posts
Cornwall Bridge | 6 Posts
Cornwall Hollow | 4 Posts
Cream Hill | 5 Posts
East Cornwall | 5 Posts
East Warren | 5 Posts
Ellsworth | 5 Posts
Kent Hollow | 4 Posts
Kent Village | 4 Posts
Long Mountain | 2 Posts
Merryall | 2 Posts
Mid Cornwall | 5 Posts
Mudge Pond | 5 Posts
Route 7 South | 3 Posts
Segar Mountain | 6 Posts
Sharon Mountain | 4 Posts
Sharon Village | 5 Posts
Silver Lake | 5 Posts
Skiff Mountain | 4 Posts
South Kent | 3 Posts
Spectacle Lakes | 5 Posts
Waramaug | 5 Posts
West Cornwall | 7 Posts
West Warren | 5 Posts
Westwoods | 4 Posts
White Hollow | 4 Posts
December
1

11/30/2022

 

Dear Neighbor,

The Covid-frenzied real estate market depleted the Sharon housing stock so significantly that despite the ebbing of the pandemic, the market has yet to stabilize.  At one point a year ago there were only 7 homes available for sale in Sharon. Today it's marginally better with 11 residential homes for sale. 

There were only 48 residential sales in Sharon, 45 fewer home sales noted in last year's letter. This dramatic drop is not due to lack of interest, but of a diminished inventory along with the confluence of inflation and increased mortgage rates, all which has buyer's hesitating.  There are 4 homes in contract presently underscoring this hesitation. 

Though, it is unlikely that this "breather" is going to enable the market to restock. Despite fewer listings, economic queasiness and buyer's pausing, the desire to live in Sharon is strong. Sales are brisk and competition is fierce when a well priced house comes to market.  We are still seeing bidding wars.

If you are interested in selling, this market period is still optimal for obtaining a strong value for your property.  Let us know.

Below is a condensed version of what has sold in your neighborhood in the last year:

15 Birch Ln                                    12/22/2021                  $65,300

This private, 4 acre lot is located at the end of Birch Lane and affords a quiet area. The level wooded lot abuts the Connecticut State Forest.

 

5 Birch Ln                                      10/19/2022                  $650,000

Toni Soule, a top Bain agent, sold this one story home nestled on 4 acres. The open country concept includes the living room with soaring ceilings and a fireplace.  It includes a dining area which leads to the eat-in kitchen entailing a propane cook top, stainless steel appliances and a double oven. There are 3 bedrooms and 2 baths in this 1879 sq ft home. The wrap around deck leads to the level and open backyard with woods beyond.

 

417 Route 7                                    3/4/2021                      $145,000

The property entails a one level, 3-bedroom ranch backing up to the Housatonic State Forest. Recent updates to the kitchen, bathroom, furnace and woodstove have been done. Set on nearly 10 acres of level pasture and high woods, the property has a large 50 ft x 30 ft horse barn with up to 8 stalls.

 

7 Swaller Hill Rd                           10/3/2022                    $475,000

This 1970-built cabin of 768 sq ft with southern views down the Housatonic Valley sits on 30 acres of land. Clean and neat while offering 2 bedrooms and 1 bathroom, the house is charming.  A masonry brick fireplace and wood floors are some of the well designed features.  Primarily comprised of woods, there's also a level open yard, stonewalls and a small brook on this very private property.

 

296 West Cornwall Rd                  7/29/2022                    $370,000

This spacious cottage has an open kitchen/living room floor plan and is anchored by a fireplace. Recent improvements include a new kitchen with hardwood floors and new bathroom with high end fixtures.  The house, set up on a small hill, faces east for morning light.

 

229 West Cornwall Rd                  11/22/2021                  $292,500

This older home includes a large living room with a stone fireplace and a separate den with a wood stove. The kitchen includes stainless appliances and a breakfast bar connecting to the dining room. There are 3 bedrooms and 2 bathrooms.  A new well, plumbing, windows, bathroom fixtures were all done within the last 10 years.

 

198 West Cornwall Rd                  3/10/2022                    $395,000

I sold this 1450 sq ft home that maintains a cabin like feel. The living room features a native stone fireplace with a woodstove. The large kitchen has a breakfast bar which has views through a bank of windows. There are 2 bedrooms and 2 bathrooms.  The two car garage and a separate pole barn offer storage. Central air and house generator are comforting modern upgrades. Set on a 2 acre knoll, the home offers nice privacy.

 

With only 11 homes listed in all of Sharon the need for listings is critical. For those considering selling, it's the perfect time. So call us to get a perspective on your home's value and 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.

 

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

 

Have a Safe and Healthy Autumn!

 

 

Chris Garrity

 

Chris Garrity, David Bain & Associates - Toni Soule, Debbie Bain, Erin Hull, Amy Danis, Amy Longley, Heidi Kearns, Victoria Colombatto and Elisa Waysenson.

 

 

December
1

 

Dear Neighbor,

The Covid-frenzied real estate market depleted the local housing stock so significantly that despite the ebbing of the pandemic, the market has yet to stabilize.  At one point year ago there were only 11 homes available for sale in Kent. Today is considerably better with 17 residential homes for sale. 

There were only 36 residential sales in Kent, 55 fewer home sales noted in our letter last year. This dramatic drop is not due to lack of interest, but lack of inventory along with the confluence of inflation and increased mortgage rates, all which have buyer's hesitating.  To this point there are only 6 homes in contract presently. 

Yet it is unlikely that this "breather" is going to enable the real estate market to restock. Despite fewer listings, economic queasiness and buyer's pausing, the desire to live in Kent is strong. Sales are brisk and competition is fierce when a well priced house comes to market. 

If you are interested in selling, this market period is still optimal for obtaining a strong value for your property, let us know.

Below is a detail of what has sold in your neighborhood since September 2021:

 

16 Kent Hollow Rd                  9/27/2021                    $425,000

This beautifully maintained antique farmhouse sits on just over 3 acres. This 3 bedroom, 2 bathroom home in a very desirable Kent Hollow location is charming and full of history. On the upper level, there are 3 bedrooms and a full bath. The main floor hosts a dining room, kitchen, living room, office, and laundry. There is a detached barn/workshop that may be able to be converted into a fantastic guest house. There is plenty of room out back for a pool.

 

105 Kent Hollow Rd                10/12/2021                  $359,889

This circa 1980 home was foreclosed on in 2012-a result of the 2008 crash.  It was sold in 2014 for $152,250 and then sold again last October to an investment group who renovated this 4 bedroom, 3.5 bathroom raised ranch and put it back on the market for $499,995. The 1976 sq ft home features a living room w/ high ceilings and stone fireplace, hardwood floors throughout the office, dining area, living room and lower level, gorgeous stone patio, and a 2 car garage. The 1.4 acre parcel is primarily open lawn with nice landscaping.

 

132 A Kent Hollow Rd            9/24/2021                   $276,000

This wonderful ranch opens into a large Family Room with hardwood floors, nicely built space for a large screen TV. The eat-in kitchen door slides open to a sun room that could be used as a dining room with a new deck outside. The sunny living room contains a fireplace and a combo heat and air unit. The master bedroom has a large closet and half bathroom. The backyard is open and lightly wooded for privacy.

 

Lot 18 Upper Kent Hollow Rd        11/22/2021         $420,000

My associate Erin Hull listed and other Bain agent Elisa Waysenson sold this amazing 25 acre parcel of land.  The property is a remarkable parcel adorned with large oak and maple trees, stonewalls and at the top there are nearly 360 degree views.  

11 Kane Mountain Rd             6/24/2022         $1,021,000

This updated modern contemporary home set on over 9 acres is the perfect tranquil retreat. Abundant natural light pours throughout with cathedral ceilings. The living space is ideal for entertaining family and friends, and the living room has a dramatic fieldstone fireplace, cathedral ceiling and access to a large deck. The dining room has a fireplace and sliders to the deck. The kitchen is updated with granite counters, island, large eat-in area with adjoining TV room which has access to the heated Gunite pool and spa. The first floor has an office, full bath and mudroom/laundry room while the upper level features a primary bedroom ensuite with fieldstone fireplace and cathedral ceiling. There are 3 additional bedrooms on the second floor with cathedral ceilings, a shared full bath with double sinks.  

 

Lot 8 Kent Hollow Rd              9/27/2021                   $750,000

This nice Kent land that contains open field, wood lands and wet lands with approximately 35 acres that are in the process of being surveyed. It looks upon westerly views.

 

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.

 

And if you are considering selling this seems to be an unprecedented time to capitalize. Call us for a free assessment of your house, office or condo. Or stop by the office or visit our website at www.bainrealestate.com.

 

All the best!


Chris Garrity                                                        

Chris Garrity, David Bain & Associates-David Bain, Debbie Bain, Toni Soule, Erin Hull, Amy Danis, Amy Longley, Elisa Waysenson & Heidi Kearns