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August
31

 

Dear Neighbor,

We are rebooting our informative neighborhood letters after having our office "closed" over the last 12 months. I say "closed" because as you likely know, the real estate market in Sharon and the county and the state and the world, went nuts. So, we've actually been quite "open".

In our 40 plus years of selling, we've never experienced a panic of this magnitude. People's fear of living in a densely packed city and the health crisis it triggered created a relocation flight decimating our inventory.  Today, Sharon has only 19 homes listed and values have surged to levels not seen in over 15 years.

A 15%-20% increase in home values is not uncommon and in some of the upper end homes we saw even higher escalations. Perfect example is a house I sold in Jan. 2019 for $645,000 and it came back on the market in July 2020 for $795,000 and sold for $810,000 within a few days. And there are some forecasts of another 15% increase in the next year.

There were __ sales in your neighborhood in the last year and 93 total sales in Sharon-30 more sales than in the pre-Covid era. For comparison there should be about 45 homes on the market.

Attached is a condensed version of what has sold in your neighborhood in the last year.

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.

 

40 Robert Street        11/24/2021         $264,000

Move-in ready 1950's cottage with mid-century finishes. It is part of the Silver Lake Shores Community with access to lifeguarded beach and boat launch. The cottage has three bedrooms or two bedrooms with an office plus one full bath and one-half bath, both renovated. The kitchen retains original cabinets and cast iron sink with newer appliances and granite countertops. Open living/dining room with wood-burning fireplace and coffered ceiling. There are refinished wood floors throughout, a sizable wrap-around deck, full basement, and 2-car garage. Property is 1/8 of a mile from Silver Lake and close to the towns of Sharon, Millerton NY, and the Wassaic Train Station.

 

42 Bartram Road      12/7/2021           $247,000

 This renovated lake cottage is just 2 hours from NYC! Find your retreat next to Mudge Pond with its private beach & boat lunch for kayaking & fishing. Renovated by its current owner, this adorable cottage has been updated top to bottom & is move-in ready & can be delivered furnished, just in time for you to enjoy the holidays. The most recent upgrades include: furnace, flooring, insulation, hot water heater, gas fireplace, new appliances, washer, dryer &, fast internet connection. This property is unique as it is one of the few homes on Bartram Road with views of Mudge Pond. The home is cozy & comfortable with dining room, kitchen, and complete with island, new appliances. There is plenty of storage, living room with a gas fireplace, & a small den that would fit a twin bed for guests or an office. The loft area in the attic can be transformed to additional seating area or a yoga room. Located close to Lime Rock Park, Hotchkiss, Salisbury, & IMS, skiing, hiking, antiquing, & all of the cultural art & music activities the southern Berkshires has to offer & just 10 min from Wassaic Train Station.

 

104 Cedar Road        8/18/2021        $350,000

This retreat is just steps to Mudge Pond with its private beach and boat lunch for kayaking and fishing. The property features a back patio surrounded by mature landscaping or with four bedrooms, a full kitchen and dining, and a surround sound system. This home has been meticulously renovated by the current owners and is completely turn-key. It has everything for entertaining and comfortable living and all the amenities for either a full-time residence or a weekend home, with room for work from home and extra space for a home gym, and also features fantastic light and sunset views with central heat and AC. Landscaping is professionally maintained. Leased solar panels and propane heat for energy efficiency. Features a full house generator hook up, a two-bay garage with radiant heat is the ultimate dream for a car enthusiast, features a loft, and could be transformed into a fantastic party barn for the entertainer.

 

143 Cedar Road                   10/01/2021       $330,000

This home contains three bedrooms, two and a half bath house with solar, central air, heated swimming pool, Jacuzzi, small greenhouse, fruit trees, barn, large back yard and access rights to Mudge Pond. All the amenities of a summer camp are offered in the property. And it looks like a bumper year for the fruit trees!

104 Bartram Road    5/4/2021      $705,000  -
This Fannie Mae Cape cod home has great potential in this very quiet location. The home has hardwood flooring, sky lights in the bedrooms, large rooms with a full bath on both floors, 2 car garage and a walk out basement.

The market is still very brisk with only 19 homes listed in all of Sharon and 16 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.

Have a Safe and Healthy Summer!

Chris Garrity

David Bain & Associates-Toni Soule, Debbie Bain, Erin Hull, Amy Danis, Amy Longley,

 Heidi Kearns, Victoria Colombatto and Elisa Waysenson.

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

December
15

 

Bain Real Estate Sharon Silver Lake 2018 December Market Report.

 

Dear Neighbor

 

PLEASE CLICK HERE TO SEE THE MAP

        

            Have we reached equilibrium between buyers and seller since the Great Recession? Yes, the ensuing ten years values have improved with buyers returning to the market; returning however with a tempered desire to purchase. Sensing caution sellers began lowering prices incrementally and making it more appealing to the buyers. As the economy strengthened buyer confidence did in turn. So, growth has ensued.  A cautionary approach should be taken however, as daily the volatile swings in the world and nation are having considerable influence on buyers' confidence.

            In fact, on the upper end of the value spectrum, the sales have not been as brisk with downward pressure on houses over $1M.  Owners who invested in upgrades to their homes over the last 10 years have not seen much if any return on that investment. This issue is not solely a Litchfield County concern as we see this depreciation of the upper end of the market in other areas of the state as well. 

            Below are the data from 2006, the height of the market, showing an average sales price of $590,000 (rounded) on 40 transactions. The second box is from 2018 showing 42 transactions with an average sales price of $725,000 (rounded) and for additional perspective, there were only 19 sales transactions in 2009 just after the crash.

            Presently there are only 72 homes (statistically high) on the market and 4 in contract.  A number of properties have sold directly without market exposure that has not figured into this data.  Clearly the local real estate market has returned to a much healthier level from the low points of years past.

Quite a bit has happened in your neighborhood over the last year and a half as you can see below:

 

A .6 acre parcel across the lake on Minneluta Trail sold this summer for $20,000.  The level lot is at the top of the road and is an easy building site.

 

Over on Silver Lake Shores a number of small parcels were purchased for $5000 each.  These acquisitions reinforce the going value for single parcels.

 

32 Robert Street is a 936 cape style house that was built in 1970 and features a large screen porch.  The house required some updating but offers 2 bedrooms and 1 bathroom.  It is set on a half an acre of level land.  It sold for $130,000.

 

I assisted the sellers of 49 Douglas Road with finding a buyer for their well designed 2 bedroom, 1 bathroom Cape Cod built. The home offers nicely sized rooms with a second floor that has been converted to a family area. There is a large back deck off the kitchen that provides a view of the grounds as it sits high on an open parcel of lawn with mature trees. Built in 1997, this house has a full-walk out basement and is in very good condition.  It sold for $134,900 within 7 days of being listed.

 

A bank owned home at 86 Douglas sold for $34,000. It was listed for $64,350 but considerable work to this 1950's cabin with 885 sq. ft. of living space resulted in a significant reduction. There are two bedrooms and a fireplace in this dwelling.

 

31 Bartram Road just sold and was the highest house sale in a number of years. Closing for $305,000 the two-story lake view home sits on 1.4 acres with direct waterfront access. It's a 3 bedroom, 2 bath home  in great condition. The newly updated kitchen with quality appliances, ductless, mini split air-conditioning units and the deck on 2 levels with lake views. The property is adorned with a variety of specimen trees, enchanting garden views and privacy. It was on the market for 482 days and was originally listed at $399,000.

 

Just across the street, I listed and sold 42 Bartram Road, a 1970's cottage for $129,000. This 680 sq. ft. one bedroom cottage was nicely upgraded and offers a renovated kitchen, gas fired fireplace and renovated bathroom. There is a small dining room and attic storage.  It sits on an open .29 acre lot with road frontage on both Bartram and Douglas Roads. It was listed for 217 days with an original asking price of $142,000.

 

Next door at 133 Douglas Road, I have a 5 parcel property listed for sale.  The land is wooded and like its neighbor owns frontage on two roads offering various settings for a house. It has been tested and approved by the health department for a septic system.  It is listed for $40,000.

 

134 Cedar Road was another bank owned property that finally sold and has been fixed up! Built in 1974 this one bedroom cottage has 576 sq. ft. of living space.  It was listed for only 31 days at $64,900 and sold for $50,000.

 

Lastly, I sold 116 Bartram Road, another small but well kept cottage of 554 sq. ft.  Set at the end of the road it benefits from abutting the John Estate and maintains nice privacy.  It also offers nice views of the lake.  The house has hardwood oak floors, two bedrooms and a good sized kitchen. Built in 1968 with nice upgrades to the mechanicals and a small barn this house was listed for $138,000 and sold for $127,000 with only 27 days of market time.

 

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, and follow us on Facebook and Instagram. 

This letter and the others we write are posted there as well.

 

Cheers!

Chris Garrity,

David Bain & Associates

 

Toni Soule, Marilyn DeVos, David Hurlburt, Jennifer Luning, Michele Pastre, Karen Grimaldi, Priscilla and Asher Pavel

 

    

      

  

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

 

 

November
9

Dear Neighbor,


Please click here to see the map

In the last 12 months there have been 52 residential sales in Sharon compared to 49 the previous 12 months.  We have been averaging 50 residential house sales in the last 3 years revealing a trend that is now back to pre-2008 levels.  Presently there are 69 house listings for sale in Sharon and that is 10 more than the previous year's offerings.  Here are the average statistics for the last two years sales.


We seem to have reached a more balanced supply and demand which has now evolved into a more normalized market.  While it is still imperative to list your home at an attractive price, there are now more buyers interested in owning a home here in Sharon. Also encouraging is the fact that there are 11 homes in contract presently.  There is one residential offering available for sale in the immediate neighborhood and this is what has sold in the last 12 months.

 

86 Douglas Road is a small cottage that lasted only 56 days on the market selling for $34,000.  Built in 1950 the 885 sq. ft. home is sited on .24 acres of land.  It has a 1 car detached garage 2 bedrooms and one bathroom requiring considerable renovation.  It was listed for $64,350.


 

134 Cedar Road spent only 34 Days on the market and sold for $50,000.  Not requiring as much work but needing some updating, this 3 bedroom, 1 bathroom home has 576 sq. ft. of living space plus a garage under. There is also an enclosed porch of 140 sq. ft.  This bank owned property was listed for $64,900

32 Roberts Street was built in 1970 and offers 4 bedrooms and 2 full and 1 half bathroom.  In better condition than the other two sales, this house also offers more room with 936 sq. ft. and it also has more land sitting on slightly more than a ½ acre. It was listed for $135,900 and sold for $130,000 after 106 days on the market.

 

42 Bartram Road is my listing that has been stunningly renovated complete with a new roof, sills, porch, flooring, insulation, bathroom and kitchen. It is comfortable, cozy and efficient with plenty of storage and style. There is a gas fireplace, full kitchen, dining area and finished loft access.  Plus a Harman pellet stove, New Kohler kitchen sink, bathroom sink , all Delta fixtures. There is also a 3 year old Rheem Lifetime electric water heater. It is listed for $142,000.

 

And finally a single parcel is now worth more in Silver Lake Shores.  The answer to the value of a single lot has, for the last few years has been $2,160.  But recently some individual lots have sold for $5,000.  Again your best buyer is your neighbor!

 

To provide you with more information these letters are archived on our website: www.bainrealestate.com.  Look for "Neighborhood Sold Stats" on the home page.  There you will find other Sharon neighborhood letters.   We have also added all the houses for sale in Sharon and surrounding towns that are in the MLS system to our website!

This means that you need only to go to our site to find any and all the properties in your neighborhood, Sharon or the fourteen towns we serve. We have also added videos to our site to improve and sharpen the marketing of homes.  Video is the medium our customers are used to so we are on the cutting edge and the only ones using them in the area.  Please check them out! If you have any questions, give us a call and we'll let you know about properties in the neighborhood!  And until then be well and enjoy the onset of autumn. 

 

Respectfully,

Chris Garrity

And the Sharon Office: Jennifer Luning, Michele Pastre, Joanie Yahn and David Almquist

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

 

 

 

 

 

September
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

Summer is fading so it's our time to reflect on the real estate market over the previous 12 months and how it has fared nationally, regionally, town wide and even down to your neighborhood.

Nationally the main urban centers are doing quite well. They are the drivers of the economy and by extension real estate sales. In Connecticut we are seeing a stable market with sales reflecting national trends. Foreclosures are ebbing from the historical highs of only a few years ago. The local real estate market was strong in the first quarter of 2015 but quickly evaporated during the summer months. Yet the data shows that the last 12 months has been a bit stronger than the previous in Sharon. In the last 365 days there have been 49 sales transactions in Sharon four more than the year prior. As one can see the average sales price has decreased slightly and yet the average square foot price has increased. To provide perspective in 2011 there were 43 sales and in 2012 there were 37 home sales transactions.

Closed (45) Sharon Sept. 9, 2013- Sept. 9, 2014

 

 

Bed

Bath

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

Days

Min

1

1

644

$109,900

$85.71

$50,000

$53.23

.43478

4

Max

9

6

1,205

$6,650,000

$954.8

$6,137,500

$764.67

1.03139

689

Avg

3

3

2,659

$793,931

$242.6

$698,105

$213.07

.87804

183

Median

3

3

2,316

$499,000

$208.7

$453,750

$182.45

.90476

149

Sum

 

 

 

$35,726,900

 

$31,414,719

 

 

 

 

Closed (49) Sharon Sept. 9, 2014- Sept. 9, 2015

 

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

Days

Min

 

 

576

$50,000

$28.50

$40,000

$27.12

.58632

 

Max

6

6

6,469

$3,950,000

$1,562.50

$3,400,000

$1,500.00

1.22839

931

Avg

3

2

2,415

$745,108

$264.57

$654,166

$235.68

.89503

186

Median

3

2

2,016

$299,000

$193.83

$280,000

$173.61

.8952

130

Sum

 

 

 

$36,510,300

 

$32,054,150

 

 

 

 

Here is what has happened in your neighborhood.

The lake was beautiful this summer and active certainly at the Town's lakefront. My daughter Hazel was a lifeguard and enjoyed working at the beach.

Not far from the beach 39 Minneluta Trail recently sold for $83,500. This 672 sq. ft. home with an enclosed porch has 2 bedrooms and one bathroom. The year round home is sited on .69 acres of land.

Down on the south side of the lake we were also busy. Drew Holland, my associate, assisted the buyers of 50 Highland Road. This home was bank owned and in fairly good repair with a new roof and painted interior. The home was built in 1987 and has nearly 1300 sq. ft. with four bedrooms and two full bathrooms. The house is sited on .17 acres and has a nice yard. It closed at $160,000.

134 Cedar Road is listed with us. This starter needs tender love and attention but has a large lot of .80 acres with a garage and tons of potential. There are 2 bedrooms and one bathroom in this 716 sq. ft. home built in 1974. It is listed for $95,000.

Another affordable home recently sold. 55 Douglas Road sold for $40,000. Requiring considerable renovation, this cute cottage has a nice yard and two bedrooms, one bath in 567 sq.ft. The kitchen has been updated and the price was right.

Ethan Watt, our newest agent and Sharon native, just listed 5 Cedar Road for $179,900.

This is a really nice log cabin built in 1990. This home is in immaculate condition. There are two bedrooms plus a loft room as well as a nice bathroom. The open kitchen living room has 15 foot ceilings. A large wrap around deck is accessed from the sliding glass doors off the kitchen. Pellet stove keeps the place warm. There is a full basement that can be finished. Two barns and a large open yard are featured outside on the .46 acre lot.

To provide you with more information these letters are archived on our website: www.bainrealestate.com. Look for "Neighborhood Sold Stats" on the home page. There you will find other Sharon neighborhood letters. We have also added all the houses for sale in Sharon and surrounding towns that are in the MLS system to our website! This means that you need only to go to our site to find any and all the properties in your neighborhood, Sharon or the fourteen towns we serve. We have also added videos to our site to improve and sharpen the marketing of homes. Video is the medium our customers are used to so we are on the cutting edge and the only ones using them in the area. Please check them out! If you have any questions, give us a call and we'll let you know about properties in the neighborhood! And until then be well and enjoy the onset of autumn.

 

Respectfully,

Chris Garrity

David Bain

& the Sharon office- Jen Luning, Michele Pastre, Joanie Yahn, Ethan Watt & David Almquist

 

 

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

 

 

This graph shows the number of successful transactions

in our key towns of Cornwall, Kent and Sharon in 2014

September
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

Each September we take stock of how the previous 12 months of the real estate market have fared nationally, regionally, town wide and even down to your neighborhood.

While the last quarter traditionally maintains strong sales, this third quarter reflection is a good barometer to measure the health of the market.

Nationally we are seeing the high growth areas, primarily the major cities, booming as foreign money and urban renewal are stoking value increases. However, in markets that have had a considerable amount of distressed properties there is still market turbulence. But as those "opportunities" are bought up, the market constricts making the long term values stronger.

In Connecticut we are seeing a stable but flat market. In a press release to the media last Friday, Connecticut REALTORS reported that single-family residential home sales in Connecticut decreased 1.4% comparing July 2014 to July 2013.The median sales price of $277,750 represents a 4.7% decrease from $291,500 in that same time period.

Sharon's real estate market is slightly more active and incrementally getting healthier. Data shows that 2014 was even stronger than 2013 in Sharon with 45 sales in the last twelve months compared with 37 in the year prior.

There are 83 homes on the market in Sharon which is a considerably large supply of homes. Salisbury has 88 listings and Kent maintains 53 offerings by comparison.

Earlier in the year the market was vibrant with a number of homes selling. Spring through mid summertime was also quite strong. The market is traditionally slow as summer ebbs, so it will be interesting to see how the 4th quarter shapes up. Presently there are 3 homes in contract to sell. Additionally, the last 12 months has seen 10 land sales according to the CTMLS and the town records. It is especially nice to see the uptick in interest in land.

Year over year stats from Sept.-Sept. indicate that the sales volume has exceeded a level the 2006-2007 when values were at their peak. While volume is up the values still lag behind considerably. The time it took to sell a home this past 12 months has decreased quite nicely since 2011. The trends are positive.

Date # Home Sales Avg. Sales Price Days on Market

Sept. 2005-2006 28 Sales $560,715 109

Sept. 2006-2007 30 Sales $757,917 145

Sept. 2007-2008 20 Sales $481,180 114

Sept. 2008-2009 19 Sales $706,626 133

Sept. 2009-2010 27 Sales $740,161 154

Sept. 2010-2011 28 Sales $511,554 200

Sept. 2011-2012 44 Sales $489,440 246

Sept. 2012-2013 37 Sales $454,335 160

Sept. 2013-2014 45 Sales $453,750 149

Last year's letter noted no sales in your neighborhood. This year we had 3 sales in Silver Lake Shores and 2 sales on Minneluta Heights.

40 Roberts Road was listed for $134,000 and closed after 149 days on the market. This 2-bedroom cottage was built in 1950 and has 850 square feet of living space, fireplace and pine floors. The property includes .18 acre with a garage across the street. Sam FitzGerald of my firm assisted the buyers who paid $115,000.

108 Silver Lake Shore Road closed after years on the market David Almquist of my office and Sam FitzGerald together sold this 1520 sq. ft. home with 2 bedrooms and 2 baths on .47 acres of land. The lot overlooks the lake and has a level, open lot. The property was oringally listed for $179,000 in 2012 and sold for $80,000.

Two contiguous parcels at the corner of Bettina and Douglas Roads fetched $8,000.

We have 134 Cedar Road listed for sale at $125,000. This 716 square foot cottage has 2 bedrooms and one bathroom on .80 acres of land. The house needs considerable work as did the aforementioned sales.

Across the lake, I listed a cottage at 40 Minneluta Trail for $125,000. This residence had a new septic system installed and both the bathroom and kitchen had been renovated but fixtures had not been installed. It sold for $90,000 after three months on the market.

At the end of Minneluta a 38.78 acre parcel of land sold with additional access off of Drum Road the land is wooded and maintain some sloped areas. It closed for $132,000.

We have other offerings around town so if you know of anyone seeking a home, let us know or point them to our website at: www.bainrealestate.com

We hope you enjoy the coming autumn and will write again next year. Or you may find these letters and others sent to different Sharon neighborhoods that are archived on our website look for "Neighborhood Sold Stats" on the home page.

Respectfully,

Chris Garrity

David Bain

& the Sharon office- Jennifer Lunning, Michele Pastre, Sam FitzGerald, Drew Holland and David Almquist

 

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