Posts in category 'Silver Lake'

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 yea...

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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...

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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...

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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.

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

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...

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