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