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June
7

Dear Neighbor,

PLEASE CLICK HERE TO SEE THE MAP

The strengthening of real estate market has been increasing for two years as seen in the diminishing inventory of homes for sale.  In 2015 there were 70 houses available for sale in Sharon. Today we have 59 residential homes available in this spring market.  So, of course we need more listings-so if you are considering selling, call us.

Equally brisk are sales with 47 homes selling in the last 12 months just slightly below the 51 sales the year prior.  The increased demand and a sell-off of an over supplied market of 75 listings a few years back is critical to solidify values.  There are also 9 homes in contract to sell-off which my firm is participating in 4 of them. 

Even with fewer houses available there are still a number of distractions that foster a buyer's hesitation when considering a purchase. Whether it is unpredictable international or national events, the financial uncertainty of the State of Connecticut or the coming of age of younger buyers whose desires and goals vary considerably from the previous generation of buyers, there seems to be so many uncertain issues.

The Millennial Buyer who wishes to purchase a home that is in tip top condition is one such issue.  It's challenging to discern if the culprit is the HGTV influence or the fact that today's 30-40 year old was not brought up to relate to fixing up houses. Nevertheless a house that needs considerable work or is "tired" or not updated is more often passed over for one that is ready to move in or new.  The better your house presents, the higher the value you will see and the sooner it attracts a buyer. 

Here is what has happened in the neighborhood since our last letter:

1 Northrup Road is a peaceful five acre parcel in a pastoral, gently rolling topography. The parcel had been tested and surveyed and approved for the suitability to build. This parcel had been on the market for a long period of time and was last listed for $85,000.  We sold it sold for $75,000.

Directly next door, my partner David Bain sold 7 Northrup Road, a one level, one bedroom modern styled home. A winding driveway spans a boisterous tumbling brook and brings one to this A1 award winning 1664 sq. ft. retreat. Surrounded by 20 acres this exquisitely designed home utilizes efficiently every inch of space. From the Sub Zero to the centrally located fireplace to the deluxe master bedroom, this architectural gem provides maximum of pleasure and comfort in a minimalist package. This special home focuses on easy living, its 50' long pool, its secluded location and distant views. Listed and sold for $570,000 this property lasted 46 days on the market.

2 Northrup Road is a 1922 hideaway nestled amidst 9 acres of pine forest. It has been renovated and expanded to 1715 sq. ft. open floor plan.  The living and dining areas feature a fireplace with pillars, crown molding and French doors to a deck. The eat-in kitchen has bead board faced cabinetry, a built-in bookcase and pantry. There are three bedrooms and two and one half baths all on one level.  The master bedroom offers vaulted ceilings, French doors to the deck, a walk-in closet and full bath with soaking tub. The acreage includes a mix of woodlands, a small brook that passes through one corner of the property and rock outcroppings typical of the Connecticut countryside. It sold for $425,000 after a year on the market with an original asking price of $499,500

Mountain House at 12 Old Sharon Road #2, is perched on a precipice to optimize the panoramic views of the hills of Cornwall. Picture windows offer both the views and invite nature to light the interior. In an open floor plan the soaring beamed living room ceiling highlights the floor-to-ceiling native stone fireplace. The large formal dining room opens to the 900sq. ft. deck. The designer galley kitchen has high-end stainless appliances and a custom marble sink. The master bedroom has long views, a luxurious bath with shower and soaking tub. Two guest bedrooms, each en-suite are comfortably designed.  Stone terraces surround the house with over 5000 sq. ft. of patio space accessed from almost every room. This house was listed for $1,200,000 and sold for $1,166,250 in less than a month. This house had sold for $930,000 only two years prior and while the owner improved the property they still saw a considerable value increase of near 25%.

5 Guinea Road is a charming 2,200 sq. ft. country home for the outdoor enthusiast. Set on a dead-end town maintained road close to the Housatonic River and Appalachian trail, this 3-bedroom home is set on 3.8 acres and is filled with nice details, from the slate floored mudroom to the stone fireplace in the living room. The kitchen is open to the family room and dining room for the open living.  There is a small screened porch and a large front deck. But to understand how much the market has changed in the last few years this house offers a good example. This house has been on and off the market since 2010 starting at $329,000. There is no cable internet access here which sank a transaction when listed in 2010 for $295,000.  In 2016, it was listed and still did not sell.  Returning to the market 7 months later and in a stronger market, the list price was $225,000 and sold for $220,000 in 16 days.

With direct frontage on the Housatonic River, Dave Fairty of my office sold the property at 18 River Road. This charming 1860's eyebrow colonial has 1000 sq. ft. but every bit needs tender loving care. There is a nice stone fireplace, wood floors, front porch and land with garden area.

It was sold for $200,000 and yet listed for $169,900 that in of itself is another sign of the market's continued improvement.

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 &

David Bain

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

March
1

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.

 

Sharon Market Report March 2014-2015 : Closed (45)

 

 

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

 

Low

 

 

644

$109,900

$51.79

$50,000

$37.50

.43478

 

 

High

9

6

12,057

$6,650,000

$1,562.50

$6,137,500

$1,500.00

1.025

689

 

Avg.

3

3

2,802

$952,382

$289.05

$825,487

$251.60

.86505

174

 

Median

3

2

2,317

$449,000

$213.94

$420,000

$191.05

.88235

130

 
 

 
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.

April
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

The last 12 months were extremely positive for the local real estate market and businesses alike. 2013 marked a period in which the market began to shift ever so slowly from an undervalued market to a more level market. Many of the properties under pressure from the economic turndown were finally taken off the market.

 

The momentum continues as our local real estate market is active, and values are stronger. Selling time has dropped to 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 and the first quarter is showing very strong sales figures despite Old Man Winter's grip. We appreciate your continued support and trust.

 

There are presently 58 homes (5 in contract to sell) and 23 parcels of land (1 in contract) on the market in Sharon which is considerably lower than the figure of 70 we had nearly three years ago.

 

Sharon Market Report April 2013-2014

Property Type: Residential

Status: Closed/Sold

Number of Properties: 46

 

 

Beds

Baths

SqFt

Listing Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

High

5

5.5

4,715

$1,895,000

$472.12

$1,600,000

$415.92

103.1%

784

Low

1

1

972

$125,000

$81.62

$80,000

$61.92

64%

4

Average

3

2.34

2,220

$510,696

$222.34

$452,994

$198.7

89.87%

175

Median

3

2

2,063

$432,000

$214.31

$405,000

$198.39

91.05%

114

 

 

 

Sharon Market Report April 2012-2013

Property Type: Residential

Status: Closed/Sold

Number of Properties: 33

 

 

Beds

Baths

SqFt

Listing Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

High

8

7

9,720

$1,995,000

$519.61

$1,870,000

$486.93

100.4%

987

Low

2

1

768

$180,000

$84.88

$145,000

$66.87

75.8%

7

Average

3

2.6

2,416

$516,206

$219.18

$470,977

$200.8

90.88%

227

Median

3

2.5

2,100

$439,000

$186.49

$405,000

$170.43

92.3%

161

 

 

There were 46 residential sales in the last twelve months, a 28% increase over the previous 12 months. Of note, the time on market dropped by nearly two months. All of these data points reveal a market that is trending in a very positive direction for values.

 

Buyer confidence is growing and the pool of prospects has been steadily increasing.

But pricing is still critical to keep the interest of the buyers. You've heard it before, a well priced house gets the buyer's attention, and it is still true. Let's see what sold!

 

Here is what sold in the neighborhood:

34 River Road is a 1 bedroom, 1 bathroom barn style home that sits on the banks of a rushing brook and offers nice privacy. This 1850's structure has 972 sq. ft. with a two story vaulted living room. There is a large deck and an apple orchard. The property closed in July for $292,500.

Rick Meehan of our Cornwall office assisted the buyer of 22 Vanishing Brook a three bedroom two bathroom house of 2262 square feet. This home sits on a private, end of the road site of 2.2 acres. Constructed in 1990 this split level ranch is in good condition and maintains a 2 car garage. It closed for $275,000 in August of 2013.

Here are some listings in the neighborhood:

 

We have the neighboring land on Vanishing Brook on the market for sale. This level open field has a bit of woods in which to site a new home. The private road is low key with some home values over a million dollars. This 10.4 acre lot is listed for $299,000.

Priscilla Pavel of my firm has listed a privately sited contemporary with views at 12 Old Sharon Road. In impeccable condition with fabulous architectural detailing at the end of a long gravel drive this 3 bedroom, 3-bathroom is Shangri-La. This 2500 sq. ft. home has creative decor, soaring ceilings, wonderful mix of textures and an awareness of nature. Long views are seen from many rooms, while other rooms open on to private native stone terraces or secret grottos. It is listed for $1,250,000.

Up at 12 Silver Hill Road Sam Fitzgerald of the Sharon office has this 1980's country contemporary listed for $669,000. With nearly 2400 sq. ft. of living space this 3 bedroom, 2 and a half bathroom home is set up high on the three acre parcel. The great room is book lined and maintains a fireplace, while the living room is graced with a fireplace and a large deck.

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

And the Sharon office- Sam FitzGerald and David Almquist

 

 

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