Dear Neighbor, 

In the spirit of getting back to normal, our neighborhood letters are out again with hopes of keeping you informed on local sales, offerings, trends and the Bain perspective. 

The pandemic unleashed a flight to Warren from New York City, swelling our schools, absorbing our housing inventory and pushing our values to levels not seen in a long time, if ever.  

All of this has some buyers and many more sellers on the sidelines waiting.  Waiting for what is the question. The idea that the market will be flush with listings soon is not realistic. It is a seller's market. But the pace is slowing.  This season is usually a bit slower with the uncertainty about the economy and higher mortgage rates taking their toll.  There is very little inventory and that will help keep the values from falling much.  There are currently only 4 properties on the lake for sale.

There were 5 sales on the lake in the last 12 months. Despite fewer listings, purchasing desire is strong, sales are brisk and competition is fierce. Here is what has transpired: 

7 Arrow Point Rd                    3/29/2022                     $4,697,000 

This 4 bedroom, 6 bath 6,974 sq ft shingle style lakefront home was built in 2006 on 1.35 acres.  It includes a generous yard in both the front and rear of house with mature landscaping with fruit trees and lake irrigation system.

159B North Shore Rd              8/10/2022                     $850,000 

We listed and sold this unique pre-existing building lot with fantastic lake views and special stone dock directly on Lake Waramaug. This open parcel of .484 acres has a stone gate way flanking the shared gravel driveway to this lovely parcel detailed in old stone walls. A copse of woods provide privacy to the east and a large farm, dotted with cows, lies to the west. Sited with direct southern exposure this lot maintains sun splashed all day.

257 West Shore Rd                   4/1/2022                     $3,350,000 

This 4 bedroom, 4 bath shingle-style home in move in condition located on 3.7 acres with 60' of lakefront includes a new hydro air heating/cooling and a large finished garage/storage area. It sold in just 44 days.

90 Tinker Rd              7/5/2022                     $3,850,000 

This 5 bedroom, 6 bath Hilltop estate with panoramic views, infinity pool and walkway to your own waterfront on the lake with floating dock sold in just 49 days!

46 June Rd              4/27/2022                     $5,600,000 

This Hilltop retreat with 5 bedrooms and 6 baths were spread out in 11,000 sq ft. It was built in 2010 on 36 acres at the end of a long, steep paved driveway that gracefully took you to the top of a level site with dramatic western views.  A very well-built truly spectacular home that took 495 days to find its new owner.

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! 

David Bain 

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