Bain Real Estate - Market Update

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

45 homes sold in Sharon within the last 12 months keeping pace with the previous 12 month period. And by comparison there are 62 homes listed for sale compared to 65 homes on the market in Sharon last year.

10 land parcels sold in the last year according to the CTMLS and the town records. Land is becoming interesting as owners snap up neighboring lots to protect their privacy.

The prolonged winter seems to be creating a bit of pent up demand so the Spring market should be quite fluid. We are already getting more calls. Last year's average period that a house was on the market (ADOM) was 5-6 months which indicates a balanced market. While this news is all positive news, values in Connecticut are still approximately 22% off the prices of 2006.

Yet, while buyer confidence grows the pool of prospects is still historically lower. To keep the interest of the buyers, proper pricing is still critical. There are presently 7 properties in contract to sell in Sharon. You've heard it before; a well priced house gets the buyer's attention.

Here is what has transpired in the last 12 months in your neighborhood.

 
12 Old Sharon Road is a designer's mountain side retreat on over 6 acres of woods. This home is perched overlooking the hills of Cornwall to the east and has a whimsical style. There are three bedrooms and baths in this 1987 home with wood beams, stucco and stone, and cathedral vaulted living room. The rooms are spacious with wonderful views from all rooms. There is a stone patio, water feature and a barn/garage. It closed for $930,000 after being on and off the market for over three years.

13 Route 7 is a wonderful Antique country lodge with 5 private rooms in the main house. Additionally there are 5 completely renovated high quality cabins with kitchens, fireplaces and screened porches for guests. Tastefully designed and furnished this is an established destination for weddings, events and fishing. There are three extra buildings on the property for expansion or multiple businesses. Plus a retail shop that is presently a fly fishing shop. Across from the Housatonic Meadows State Park and the River this property is perfect as a business and family compound, listed at $535,000.

This peaceful pastoral setting in the historic Ellsworth section of Sharon CT at 1 Northrup Road has 5 plus acres of gentle rolling topography and offers easy access via Route 7 and Route 4. The Appalachian Trail, Housatonic River and Mohawk Ski Area are nearby. This parcel has been perc tested, deep hole and surveyed, just pick the site with the best view for $125,000. Rick Meehan is the listing agent.

There are a number of other listings in the neighborhood that can be found on our website. Please take a look.

We hope this Spring brings you lots of sunshine and pretty flowers! And should you wish to discuss your property, the market conditions or anything else with respect to local real estate, please give us a call and we will gladly help. As the leading real estate experts in the Sharon, Cornwall and Kent area, we offer our best professional efforts to you.

Thanks in advance.

All the best,

Chris Garrity

David Bain

& the Sharon office- Jennifer Luning, Michele Pastre, Drew Holland & David Almquist

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

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

45 homes sold in Sharon within the last 12 months keeping pace with the previous 12 month period. And by comparison there are 65 homes listed for sale compared to 66 homes on the market in Sharon last year.

Additionally, the last 12 months has seen 9 land sales according to the CTMLS and the town records. It is especially nice to see the uptick in interest in land.

There are fewer foreclosures and there is an increase in buyer traffic. The prolonged winter seems to be creating a bit of pent up demand so the Spring market should be quite fluid. Stability has set...

Click Here to Read More...

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

It's been busy. This past year saw the most activity around the lake since we started these letters in 2006. This year (March to March) there have been 18 sales! For comparison, 2006-2008 (the good years before the crash) each year saw 14 sales. 2009 dropped to 6, 2010 had 9, 2011 had 10, 2012 only 5, 2013 had 8 and...

Click Here to Read More...

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor:

Let's hope that this past blizzard is the worst of the winter and that it is behind us! Yes, the roads, schools, post offices and town offices were closed, but now we are all open for business!

Last year in Cornwall there were 23 house sales and 2 land sales, a drop in transactions from 2013 when we recorded 27 houses sold as well as 6 land sales. Specifically in the Cream Hill area in 2014 we've had 2 land sales and 1 house sale. We currently have 6 properties for sale in your neighborhood.

Two lots totaling 48.9 acres on

Click Here to Read More...

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

The 30 sales transactions in Kent in the last 12 months is only slightly more than last year’s tally of 27. We are seeing the path back to a more balanced market. There is a small pool of buyers who are serious and will buy if the right house and value coincide. There is still more property supply than buyer demand, but the number of offerings is being slowly chipped away.

Moreover, the national economy is systemically healthier, providing a more confident buyer pool. We are seeing a very strong upper end of the market fueled by capital that is seeking h...

Click Here to Read More...