Over the last two years, the Covid-driven sales have reduced the available housing stock so significantly that it has skewed the typical balance of the local market.
The lopsided market has affected the number of transactions in Sharon. In the last twelve months, there were 49 sales, considerably fewer home sales than in 2021. This dramatic drop is not due to lack of interest, but lack of inventory.
Because of this imbalance we see some buyers and sellers on the sidelines waiting. With the confluence of inflation, lack of inventory, increased mortgage rates and Covid concerns waning, there is a slight pause or hesitation in the market. Hopefully, this breather will allow some restocking of houses and back to a more balanced market.
There are 9 homes in contract presently and 13 available to purchase. Despite fewer listings, purchasing desire is strong, sales are brisk and competition is fierce when a well-priced house comes to market.
Below is a condensed version of what has sold in your neighborhood in the last year:
281 Millerton Road 5/17/2022 $1,200,000 –
This newly constructed home with a modern touch has an open floor plan of kitchen, dining and living room all with sunset views across Indian Lake. The oversized living room doors open to the bluestone patio and a lake front deck. The kitchen offers top quality appliances and considerable storage. Two en-suite bedrooms each with lux bathrooms plus an office share the upper level with the primary bedroom that has large windows maximizing the impressive views of the lake.
246 Millerton Road 8/31/2021 $900,000 –
Sited well up in an old 3 acre farm field, this home has expansive western view out over Indian Lake. Entailing 3,395 sq ft of living space is the home centered on the open living/kitchen and dining area. The 4 bedroom, 3.5 bathroom house has a wall of windows and doors open to outdoor spaces.
Lot 18/19 Minneluta Trail 11/20/2021 $45,000 –
Two contiguous small parcels were purchased by a neighbor.
289 Low Road 9/28/2021 $789,000 –
I listed this 3 bedroom, 3.5 bathroom Colonial Farmhouse with sweeping views of the famed Twin Oaks Preserve. Constructed in 2004 it has 9' ceilings, crown molding, and honey hued wide pine floors. The open family kitchen has gas range, center-island, and soapstone counters. Off the kitchen is a large screened porch offering sunset views. The primary bedroom and bath has views over the Sharon Land Trust. The back yard pond is surrounded by an open and level lawn on the 5 acre property.
6 Dug Road 5/28/2021 $1,185,000 –
This modern farmhouse built in 1986 was designed by architect Turner Brooks with two wings that expand off the homes central core. One wing holds 2 bedrooms and 2 baths including a first floor primary suite. The second includes a large studio/entertainment space with a full bath and office loft above. The central core of the home offers open living room, dining room, and kitchen with western views of countryside from curved living room windows. The second floor provides an additional primary bedroom suite, offering an oversized window that captures the lovely view.
147 Millerton Road 1/31/2022 $204,000 –
This 12 acre parcel was sold to between neighbors. This parcel was then added to the purchaser's existing land holdings.
69 Mudge Pond Road 4/19/2022 $1,700,000 –
This 6,000 sq ft converted dairy barn sits high above the western shore of Mudge Pond. The exposed wooden barn beams, soaring ceilings, wide board floors, and wood-burning fireplace are all part of the allure of this 5 bedroom, 4 full and 2 half bath main residence. All the rooms on the main level offer views to the lake, including the primary suite which includes a fireplace and double French doors that open to a private patio. The kitchen, with ample seating inside as well as on the patio, is equipped with professional grade appliances. This estate includes a 1 bedroom lake side guesthouse and a 2 bedroom guesthouse abutting the Land Trust, both with views over their 8 acres.
8 Holland Road FOR SALE $395,000 –
I have recently listed this sweet cottage on .79 gardened acres. Built in 1976 the 2 bedroom, 2 bathroom home offers oak flooring, renovated kitchen and large windows to a lovely view.
3 Holland Road 10/5/2021 $300,000 –
This small house of under 1,000 sq ft was unfinished when it was purchased. Sited on .22 acres of land, the home has a nice level yard.
292 Gay Street 3/30/2022 $750,000 –
Built in 2002 this 3,500 sq ft home was sited to capture views of Salisbury's Selleck Hill and the Berkshires to the north. With 4 bedrooms and 3 bathrooms, the home features cathedral ceilings and a wood burning fireplace. The living room is open to the dining room and large kitchen. The main floor primary suite is in its own private wing. The 3-bay garage is heated and includes a workshop. The property includes a separate .83 acre building lot.
The market is still very brisk with only 11 homes listed in all of Sharon and 5 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.
With only 15 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!
David Bain & Associates-Toni Soule, Debbie Bain, Erin Hull, Amy Danis, Amy Longley, Heidi Kearns, Victoria Colombatto and Elisa Waysenson.
Bain Real Estate 2019 November Mudge Pond Market Report.
The market is healthy and vibrant, depending on how your house is priced! Yes, sales are up from 10 years ago in the midst of the Great Recession when we saw only 20 sales. There were 49 sales that have transpired in the last 12 months. The average day on market is also lower than those trying to sell in 2009.
That said, the average buyer's motivation to purchase is mercurial. Why? Take your pick-the economy, millennial attitudes, or an older housing stock? It matters little. What matters is pricing your house properly to find a buyer.
In fact, in 2009 of the 20 houses that sold 14 of them had at least one significant price reduction and only 6 houses sold without reducing their price prior to selling. Then the average sales price on 20 transactions was $700,000. And the number of days on the market average was 174 days.
In the last twelve months, however, 49 houses have sold with 24 homes reducing their price at least once before selling and 22 closed for their initial asking price. The average sales price was $500,000 from 49 sales. The average it took to sell these homes dropped to 154 days on market.
This positive upward trend over the last 10 years seems to indicate+ that sellers have reacted well to pricing their homes appropriately as demanded by the market. And the results in your neighborhood are as follows.
10 Holland Road – Closed $105,000
We sold this lovely but small cabin that has a new roof.
It took 225 days to sell and came to the market originally listed for $150,000
121 Mudge Pond Rd- For Sale $125,000
1920 home on approximately 1 acre in need of considerable repairs and updating.
Frontage on Mudge Pond with boathouse.
230 Mudge Pond Rd. Sold- $1,371,000
Views over Sharon Twin Oaks Preserve.
This 4-bedroom, 3.5-bath colonial set atop 6+ acres of field, and pool.
First floor master suite plus a separate studio.
11 Rolling Hills Drive Sold-$765,000
3 bedroom, 3 bath modern country home with an eat-in chef's kitchen.
Three fireplaces, a wrap around blue stone pergola and a heated gunite pool.
2.50 acres. Sold in 41 days!
240 Gay Street- Sold- $645,000
4 bedroom 1929 farmhouse that was renovated in 2010.
Large country kitchen offers farmer's sink, marble counters and top appliances.
Sited on 2 acres of farm fields with views.
Studio-plus 40 x 30 barn with 20' height.
234 Gay Street- Sold- $600,000
Grand View Farm, a 1920 cross-gabled converted barn on 28+ acres of meadows,
horse paddocks, and pond.
Antique exposed beams, wide plank floors.
Stainless kitchen appliances, marble counters and ample cabinetry.
3 bedrooms and 2 baths. Lower level has horse stalls, basement and garage space.
36 Gay Street was a private sale closing at $130,000. 922 sq ft with 2 beds, 1 bath on .44 acres.
There are a few other offerings in the neighborhood and town so to keep in touch with these happenings or other areas in the NW Corner, visit on our website, www.bainrealestate.com.
Feel free to Like and Follow us on Facebook and Instagram.
David Bain & Associates
Toni Soule, Marilyn DeVos, Karen Grimaldi, David Hurlburt, Heidi Kearns, Priscilla and Asher Pavel
Please note that not all listings and sales transactions are through David Bain Real Estate
Bain Real Estate Sharon 2018 Mudge Pond Market Report.
Is there equilibrium in the market after 10 years? From the bottom of the market in 2009 to today, there has been a slow, arduous climb of local real estate values. In the ensuing ten years values have improved with buyers returning to the market; returning with a tempered desire to purchase however. Sellers in turn reacted by lowering asking prices that has appealed to the buyer. So, growth occurred. For perspective, 139 Millerton Road had sold in 2012 (post-recession) for $1,550,000. It sold again recently (detailed below) for $1,700,000 offering a 9% increase over a 6 year period.
In the last five years, 2013-2018, the average sales price was $7,600 greater than the first five years after the Great Recession. And interestingly, in the last 365 days there were 50 sales in Sharon while there are only 50 listings actively for sale. Plus, there are 6 properties in contract presently. There have also been a number of properties sold directly without market exposure that has not figured into this data.
So, here are the details of what has transpired in the last 21 months.
271 Millerton Road is a waterfront cottage on Indian Lake on a third of an acre. There are 720 square feet with kitchen, living room, 2 bedrooms and a full bath. It is a cute house on a lovely setting that was on the market for 762 days. Listed originally for $189,900 it closed for $140,000.
220 Millerton Road, just across the street, is a 3 bedroom 1.5 bath custom built home on .63 acre. This 1963 home features an open living room with large windows overlooking Indian Lake and neighboring farmland. There is a full walk out basement with 2 car garage. It was listed for $249,900 and listed for 311 days finally selling for $208,000.
139 Millerton Road is a 5,500 sq. foot home that sits well up on a high ridge on a 13 acre open field. With 5 bedrooms, 3 fireplaces, 6 full and 2 half bathrooms this home is a well designed and styled country home. Views to east and west offer incredible sun which makes using the pool and the stone patio a delight. Privately listed, this home sold for $1,700,000.
Another private sale occurred at 27 Mudge Pond Road, a 988 cottage that was first built in 1930. The 2 bedroom, 1 bathroom cabin needs some improvements. In the 15 years there was a 29% increase in value even with the setback of the Great Recession. It sold for $70,000.
21 Mudge Pond Road is a cedar shake cottage across from Silver Lake. There is an open, spacious yard that is level and well landscaped. This restored vintage cottage has refinished wood floors, 3 bedrooms, 2 baths, a large family room, large living room, dining room & sun porch. The kitchen is new with farmhouse cabinetry & stainless appliances. Open front porch with winter views of the lake. Bought for $123,000 in 2014, renovated and listed for sale at $339,000 this house sold after three years for $217,500.
50 Gay Street is a spacious and well-maintained antique conveniently located in the village. This 4-bedroom, 1.5-bath on .6 acre is nicely set back from road offering a large lawn. There are 1596 square feet built in 1923 but now offers several new windows and beautiful wood floors, built-in bookshelves, French doors, and wood trim make this a special in-town residence that sold for $200,000. It was listed in the spring in 2016 for $282,000 and sold in 2017.
104 Gay Street is a 1960's home of 3100 sq. ft. on 3.6 acres of land. With 3 bedrooms and 2.5 bathrooms this house has hardwood flooring and a fireplace. It sold directly for $320,000.
Over on Grandview Lane there were two sales. First a 6 acre parcel of land that was once open field and is presently covered in light woods and a pond. With clearing, nice views will be attained. This property has been on the market since 2009 and sold for $202,500.
17 Grandview Lane is a 5,675 sq. ft. colonial with southwestern views over hay fields. The 1990's house blends modern and country chic design. A 2-story entry invites sunlight. The study has a fireplace surrounded by built-in shelves, while the living room features french doors that lead outside to a stone patio. The spacious master suite has a private sitting room and fireplace. Four additional bedrooms and 5.5 bathrooms are also included. A Gunite pool, barn and gazebo, ensconced in whimsical gardens, are part of the 6-acre estate which sold for $1,655,000 after a listing period of 151 days. It was initially listed for $2,195,000.
194 Low Road is an antique (c. 1900) Cape Cod has been stylishly renovated to accommodate today's comforts and convenience. Sited on 6 acres the property entails expansive lawns, pond, salt water pool, 3-car garage, and 2-stall horse barn/stable. The interior has quality details throughout: wide plank walnut flooring, high ceilings, 3 fireplaces, custom millwork. The painted paneled dining room has a fireplace and opens to a book case lined study. The main level master includes a fireplace and soaking tub. Additionally there is a screened-in porch with brick floor and an open terrace overlooking the salt-water pool. It closed for $1,360,000 after being on and off the market for years.
An open floor plan home has a modern flair in a house that was originally built in the 1960s. 208 Low Road is nicely renovated with new solid oak floors; state of the art kitchen/dining area with wood burning fireplace with access through French doors to the master crafted screened-in porch. An easy indoor-outdoor floor plan, renovated in 2015, this 1920 sq. ft. house include 3-bedroom, 2.5 bathroom and family room in the basement with a wood burning fireplace. Set on a level lawn with privacy on 3.16 acres sold for $550,000.
172 Mudge Pond Road is privately sited offering 10 acres with frontage on Mudge Pond. The 3,400 sq. ft. house is a 4 bedroom, 4.5-bath colonial revival facing south with large open rooms opening up on a deck that surrounds a swimming pool. The second floor master bedroom reveals views of Mudge Pond and the hills beyond. It sold for $975,000 within 62 days of being listed at $1,250,000.
This didn't last long on the market. 22 Dug Road is a cozy 1331 sq. ft., 2-bedroom, 2-bath antique cottage overlooking a large open meadow. Built in 1775 the living room is light filled with a beamed cathedral ceiling and fireplace. The kitchen is small but functional and open to the bright dining room. The master bedroom has slider to new terrace with views over the .83 landscaped acres. Sold in 4 days this house was last sold in 2009 for $355,000 and closed 8 years later for $420,000. More than a 15% increase in value.
There are a few offerings on the market and if interested call us, stop by the office or visit our website at www.bainrealestate.com. One can find not only the aforementioned listings and sales but also one can find this letter and all other Sharon neighborhood letters archived on our site, too. And if you wish to follow our blog for new listings, sales and other interesting real estate tidbits join up from our website.
All the best,
Chris Garrity &
Please note that not all listings and sales transactions are through David Bain Real Estate
Yes, vernal life is slowly emerging after that oh so snowy and long winter. And over the last 12 months we have seen the same slow season-like change in the real estate market. Many of the properties under pressure from the economic turndown are being sold leaving market valued homes to compete for buyers.
Nationally the growth of values in many regions is palpable yet the Northeast has been slower than other parts of the country. In fact nationally sales have increased over 10% but in the Northeast sales only increased year over year a meager 1.6%.
There are presently 62 homes and 28 parcels of land on the market in Sharon which is considerably more than our neighboring towns. There were 51 residential sales in the last twelve months, comfortably above last year's pace of 47 sales. There were 10 land sales this past year compared to only 6 in the 2014 period. Presently there are 10 properties in contract to sell.
Yet, while seller's confidence grows the pool of prospects is still rather low. Keeping the interest of the buyers' means proper pricing is still critical. Logically with attractive pricing, low interest rates, a more stable market and buyer confidence the market should be booming. Yet we are still seeing a very cautious market. Since January Sharon has recorded only 16 closings: 5 of them closing for a million or more; only 3 between $500,000 and a million; and 8 sales under $400,000. Maybe it's a delayed response to the harsh winter or it may be another sluggish start. Clearly the middle market is most sluggish.
Homes - Sold
21 Mudge Pond Road
This home was sold "as is". It required a great deal of renovation but is on a level lot; has four bedrooms and two bathrooms. It was purchased and renovated and is back on the market for sale. The house sold for $123,000.
194 Low Road
This lovely colonial home is in perfect condition offering the character of antiquity and the convenience of modern living. The homes details are original and this elegant country colonial maintains 4 bedrooms, 3 bathrooms and 2 powder rooms. There is a main level master suite, a screened porch a separate 3-car garage and storage barn. Outside a swimming pool, small pond and useable 6 acres are well manicured. It was listed for $1,695,000 and closed for $1,600,000 after being on and off the market since 2010.
208 Low Road
This home is sited on 3.16 acres of land and features 3 bedrooms, 2 bathrooms and a large family room. There is a two car garage attached and a wood deck overlooking the private backyard. The home was sold for $200,000 after spending a few years on the market.
259 Low Road
This home was a renovated one level home set well off the road offering a gourmet kitchen, three bedrooms and three bathrooms. There is a large deck with views to the west and a spacious lower level all useable. The 1.57 acres sloped to the west, was well landscaped and hosts a small pond. It was listed for 190 days and sold for $371,500.
286 Low Road
Corporate owned and hence sold "as-is", this 1960's ranch offered potential. Clearly renovation was needed but this 1280 sq. ft. home with 3 bedrooms and 1 bathroom has oak flooring and a two car garage, rear deck and oil heat. It sold for $109,900.
5 Rolling Hills Road - This 1990 contemporary ranch is in turn key condition on a sunny and level 2.5 acre parcel. Interior features include a recently updated kitchen, family room with fireplace and a master suite with a tiled bath and two guest rooms which share a bathroom. There is vibrant wood flooring throughout the 2316 sq. ft. home which includes a screened porch. Property includes a separate 2-bay heated garage. Offered for sale since April of 2011 starting at $485,000 the house sold for $360,000 in April of 2014.
Homes – For Sale
7 Mudgetown Road is a one bedroom country house on 10.79 acres of pond and vistas. The 870 sq. ft. house has 2 bathrooms and open floor plan and a large deck. There is a separate two car barn. The house is being offered for $345,000
290 Low Road - This home sits up high enough to enjoy year round views of Twin Oaks. The open floor plan includes a spacious kitchen as well as 3 bedrooms and two and a half bathrooms. The new deck facing the northwest offers not only views but peace, quiet, nature as well. With 1500 sq. ft. of living space, oak floors the home also has an in-law space on the lower level. It is listed for $280,000.
There are a number of additional properties in the neighborhood that are listed for sale. They can be found, with all of the current Sharon listings on our website www.bainrealestate.com. I encourage you to visit it. It's loaded with information about listings, sales, our towns and these letters (see Neighborhood Stats). There is also a way there to get direct email posting of new listings as they hit the market. Or follow our Sharon Blog - http://hillsofsharon.blogspot.com/ And if you know anyone thinking of selling their property, we would like the opportunity to talk to them about our marketing. Thanks. I'll write again in a year to let you know what's happened.
And the Sharon office- Michele Pastre, Jen Luning, Joannie Yahn, Drew Holland and David Almquist
This graph shows the number of successful transactions
in our key towns of Cornwall, Kent and Sharon in 2014
Please note that not all listings and sales transactions are through David Bain Real Estate.
Spring- and the Mudge Pond neighborhood is alive with the birds chirping at 5:00AM, the peepers boisterous and the daffodils bursting. This year it is especially welcomed after that hard, hard winter.
Over the last 12 months we have seen a season-like change in the real estate market.2013 marked a period in which the market started to shift subtly. Many of the properties under pressure from the economic turndown were sold leaving more market valued homes to compete for buyers.
Nationally the growth of values in many regions is palpable. The economy is starting to get legs and many segments have reported stronger than average figures. Confidence is up.
Values are also stronger locally and seemingly getting more solid weekly. The second home/vacation home market that we rely on is the strongest it has been in years with 2103 posting a 29.7% increase over 2012 sales. Selling time has dropped to under 6 months (5-7 months indicates a normal market). A 14% growth in transactions was seen in Litchfield County in 2013 and 17% in dollar sales. We at Bain had another productive year with very strong sales. We appreciate your continued support and trust.
There are presently 66 homes and 23 parcels of land on the market in Sharon which is considerably more than our neighboring towns. There were 47 residential sales in the last twelve months, well above last year's pace of 33 sales. There were 6 land sales this past year compared to only 3 in the 2012 period.
Of note, the average sales price has remained fairly stable. These data points reveal a market that has healed well and is now improving albeit slowly.
Yet, while seller's confidence grows the pool of prospects is still rather low. Keeping the interest of the buyers' means proper pricing is still critical. It is not surprising that with attractive pricing, a more stable market and buyer confidence we are seeing multiple offer scenarios. There are presently only 3 residential and 3 land properties in contract to sell in Sharon. We've said it before, a well priced property gets the buyer's attention, and it is still true. Let's see what sold!
Homes - Sold
#62 Gay Street is an antique home that I assisted the buyers in acquiring. There are 3 bedrooms a renovated kitchen and two bathrooms. The lower level offers a comfortable family room, kitchen and living room. There is a large master suite on the main floor. The land is fairly level and open, perfect for a garden. The house was in foreclosure and was being offered for $171,500 and sold for that price.
#7 Holland has a lovely and comfortable country cottage feel. The brick floored family room, spacious living room with stone fireplace and the greenhouse make this a cozy feeling home. The kitchen opens to family room making for inclusive. This 2 bedroom, one level home is set amidst beautiful gardens and landscaped fruit trees. This home was listed for $285,000 and I sold it for $255,000 in November.
#300 Millerton Road has a lovely and comfortable country home feel. The living room with skylights and a stone fireplace make this a cozy feeling home. The expansive and sun filled kitchen is perfect for entertainment. Manageable and clean with 3 bedrooms and baths this one level home is set amidst beautiful gardens, bluestone patio and grounds dotted with fruit and native trees. This home sold for $522,500.
Homes – For Sale
#277 Low Road a country house on .56 acres. The house has 3 bedrooms and 2 bathrooms. The house is being offered for $259,000
Land - Sold
Drum Road is a large parcel of land measuring 36 acres. All woods with considerable sloped land there was space for building a privately sited home. The land was listed for 875 days and sold for $132,000.
Land –For Sale
Gay Street is a 2.69 acre parcel of land with a brook. This wooded parcel has some sloped land but is development ready. The land is listed for $85,000.
There are a number of additional properties in the neighborhood that are listed for sale. They can be found, with all of the current Sharon listings on our website www.bainrealestate.com. I encourage you to visit it. It's loaded with information about listings, sales, our towns and these letters (see Neighborhood Stats). There is also a way there to get direct email posting of new listings as they hit the market. Or follow our Sharon Blog - http://hillsofsharon.blogspot.com/
And if you know anyone thinking of selling their property, we would like the opportunity to talk to them about our marketing. Thanks. I'll write again in a year to let you know what's happened.
And the Sharon office- Sam FitzGerald and David Almquist
Please note that not all listings and sales transactions are through David Bain Real Estate.