Market Update

The numbers are in and 2016 was clearly a pivotal year in real estate.  Nationally real estate sales transactions were up 12% over 2015 figures.  Litchfield County overall saw just over 8% increase. Locally we have seen a similar bump resulting in the volume of sale increase around 14%! In summation, real estate in Sharon is on a steady upswing as the market recognizes good values.

The positive economic confluence of lower unemployment, strong trends in the financial markets and tightening interest rates have bolstered consumer confidence. This confidence mixed with the reduction of available homes to buy has solidified real estate values and will predictably push value higher.  This is already happening.

New Listing!

1 Lovers Lane

A 'turnkey' 3 bedroom ranch located in town. The best of both worlds allows walking distance to stores and school, yet also to the Sharon Land Trust's Mary Moore Preserve.  The large picture windows provide lots of afternoon sun and
stunning sunsets.  Property includes 2 immaculate offices downstairs with a
working fireplace, a handicap bathroom and plenty of storage.  Two story barn.

Comr Help Build the Track and Have a Bunch of fun Doing IT!!!

Bain Real Estate has been selected five years in a row for the 2015 Best of Kent Awards for Real Estate Brokers & Agents and now qualifies for the Kent Business Hall of Fame

KENT March 4, 2015 -- Bain Real Estate has been selected for the 2015 Best of Kent Award in the Real Estate Brokers & Agents category by the Kent Award Program.
Each year, the Kent Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and our community. These exceptional companies help make the Kent area a great place to live, work and play.
Various sources of information were gathered and analyzed to choose the winners in each category. The 2015 Kent Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the Kent Award Program and data provided by third parties.

About Kent Award Program

The Kent Award Program is an annual awards program honoring the achievements and accomplishments of local businesses throughout the Kent area. Recognition is given to those companies that have shown the ability to use their best practices and implemented programs to generate competitive advantages and long-term value.
The Kent Award Program was established to recognize the best of local businesses in our community. Our organization works exclusively with local business owners, trade groups, professional associations and other business advertising and marketing groups. Our mission is to recognize the small business community's contributions to the U.S. economy.

A Healing Real Estate Market

Anand Nallathambl, the President and CEO of CoreLogic, is hopeful for the future, saying:

“At current foreclosure rates, we expect to see the foreclosure inventory in the U.S. drop below 500,000 homes sometime in the first quarter of 2015 which would be another milestone in the healing of the housing market.”

The map below shows the percentage of foreclosure inventory in each of the 50 states and Washington, D.C. Thirty-six states have inventory below the national rate of 1.4% and can be seen in two shades of green.

Connecticut has a 2.2% rate and is showing signs of improvement.

Reposted from Keeping Current Matters

Booming Sales in Sharon Village Neighborhood

Here is the annual real estate report detailing the real estate activity in the last 12 months in the Village of Sharon.

In the whole town home sales were ahead of pace with 45 homes selling in the last 12 months against 41 reported last year at this time. And by comparison there are 66 homes listed compared to 75 homes on the market in Sharon last year.

Status: Closed (45)- Sharon CT Jan 2014-Jan 2015
	Beds	Bth	SqFt	List Price	LP$/SqFt	Sale Price	SP$/SqF	SP/LP	ADOM
Avg	3	3	2,672	$911,760	$285.12	$792,542	$248.54	0.86	181

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 were fewer foreclosures and there is an increase in buyer traffic. Stability has settled in as the local real estate market is getting healthier incrementally and maintaining a consistent pace of sales and listings. The average period that a house was on the market (ADOM) is 6 months which indicates a balanced market. While this news is all positive news, values in the state are still approximately 22% off the prices of 2006. 

 

Sold:

80 Amenia Union Road- Listed: $1,490,000- Reduced: $1,200,000 Sold: $1,200,000.  This lovely 1820’s  3300 sq. ft. home requiring renovation is sited on a 51 acre parcel of land overlooking  a Nature Conservancy preservation.  There are 5 bedrooms and 3 bathrooms and large open rooms with floor to ceiling windows.  A large barn complex is also a feature here.

  

Benton Hill Road- Not Listed: Private sale- a 5.76 acre parcel of open field overlooking land owned by the Sharon Country Club. It was a sundrenched lot with northwestern views and recently sold for $300,000.

Heading north into the village 31 South Main Street sold again. Ten years ago this cape on .52 acres closed for $490,000.  The 1950’s home contains over 1400 sq. ft. of living space complete with 2 bedrooms and 2 bathrooms. It sold again in 2013 for $442,500 (10% loss) and just sold once again in 2014 with improvements for $470,000 (5% gain).  This home’s sale history is a good view of the market cycle!

I assisted the purchasers of 17 Great Elm Road in their acquisition of this incredibly beautiful home.  It is sited on 3.13 acres of open lawn and gardens in nice proximity to the association pool.  With over 6000 sq. ft. this house offered wonderful value at a $730,000.  A large portion of this former Buckley estate is a grand second floor ballroom/library.  With paneling and high ceilings the space is a perfect place for family gatherings. With 6 bedrooms and 6 and a half bathrooms in this 1940’s home, this purchase was a great opportunity. 

A private sale of a commercial property at 16 Amenia Road, the home of Sharon Auto Body, had over 1700 sq. ft. of office space and a 6 bay shop.  It is great to see a healthy business continuing to thrive in town. The Sharon Land Records show a sale of $635,000.

Just down Amenia Road, #64 sold after 179 days on the market.  The 1850’s colonial is in very good condition and has just .83 acres of land.  The 2200 sq. ft. home offers 3 bedrooms and 2.5 bathrooms. It closed for $345,000, a 12.5% off asking price of $395,000.

 

Up on the Green 49 Main Street closed. Its list price: $565,000 but its sale price was $325,000. This Main Street beauty was on the market for over 500 days before it found a buyer to appreciate this 1803 home with gracious rooms, fine antique detailing and numerous fireplaces.  The house requires considerable attention to update it, but is well worth it. There are 4 bedrooms and 2 and a half bathrooms in this 2500 sq. ft. Saltbox style home. A lovely terrace and backyard are included on the .53 acre in town parcel.

A condominium sold at 4 Upper Main Street, #6. Listed for $210,000 this 2 bedroom, 2 bathroom unit is in very good condition.  It has over a thousand square feet of living space. It closed for $190,000 in October.

I helped the purchaser of 74 Still Meadow Road who was attracted by the large, deep pond and privacy the 5 acre parcel affords.  The house was built in 1960 with 3 bedrooms, 2 baths, cathedral ceiling living room with a fireplace and a spacious family room with sliders to the lawn and pond.  Views across the water can be seen from almost everywhere in the house. The property sold for $415,000.

The small commercial building at 5 Calkinstown Road has sold and plans are in the works for a wonderful change.  The existing structure is a 1564 sq. ft. commercial building with two units that have seen numerous tenants in and out for years.  While the lines of the cottage like structure are nice, the practical use of the building for today’s commercial needs and codes is lacking. The property closed for $163,000.   

Another commercial property transferred at 110 North Main Street. The property was purchased late in 2013 and then two buildings on the property were demolished revealing a pretty view to the north.  Three buildings were left (two storage facilities as well as the former Dance Studio) and so it will be exciting to see renovations to this highly visible commercial spot that sold for $250,000.

A lovely 1907 home at 59 Hilltop Road sold for $1,000,000 after being on the market for 149 days.  Listed for $1,685,000 then reduced $200,000, this 4700 sq. ft. beauty has 5 bedrooms and 4 and a half bathrooms.  The elegant detailing throughout the home such as beamed ceilings and grand spaces like a drawing room, a kitchen with a formal butler’s pantry and 2 master suites made this special. 

On the Green 149 Main Street the former General Store sold for $105,000.  Listed for $145,000 this iconic pillared building requires considerable renovation.  The old store had no heat, no plumbing and was a throw back to days when life was not as comfortable.  Ensuing renovation to today’s standards will breathe new life back into this classic building and it will once again shine on the Green!

Two doors south at 141 Main Street is a 1800’s colonial that also sold in the last twelve months.  The 4482 sq. ft. antique has been wonderfully renovated with central AC, new kitchen and offers both living quarters and commercial space. Set on .92 acres of land there is plenty of parking in the rear.  The home has 5 bedrooms and 4.5 bathrooms with polished old floor boards, patina hued paneling and stairs all in 200 year old wood. It sold for $545,000.

Down towards the hospital I sold off two of my buildings at 29 and 31 West Main Street. Now part of a commercial condominium, my wife and I were happy to help keep a restaurant stay here in Sharon!  The commercial building (Pig’s Fly) is over 1000 sq. ft. and he now serves beer and wine.  The back building is a 2 bedroom, one level residential home. The two buildings sold together while I have retained my lovely Victorian office. The sale was transferred at $285,000.

13 Hospital Hill was an office building owned by Essent Health Care who sold the 1,938 sq. ft. commercial building privately for $125,000.

20 King Hill Road was listed for $169,000 and sold 250 days later for $150,000.  The cape style home offers lovely views across the Sharon Valley but requires considerable attention. The 1950’s home has 4 bedrooms, 2 bathrooms a large sunroom and a living room with a fireplace.

The renovation theme continues.  Simply there is a large stock of aged housing that requires updating, renovation and modification to today’s standards aesthetic and building safety and health codes.

Before

After

That applied at 21 Mudge Pond Road where a lake cottage that was built in 1935 sold for $123,000.  It has 1400 sq. ft. of living space with 3 bedrooms and 2 bathrooms.  The house was purchased and renovated-new kitchen and bathrooms.  It is now back on the market for sale for $309,000.

Over 5 acres of land sold at 14 Sharon Station Road for $135,000.  The parcel had a driveway installed to a building site and pretty views.

At 123 King Hill Rd a 2200 sq. ft. home sold for $200,000. This was a private sale. It is a 4 bedroom 2.5 bathroom two-story colonial home on .79 acres of land with a nice brook.

We sold 120 Sharon Valley Road another 1970’s colonial on .71 acre.  It has a front porch, 1440 sq. ft. and 4 bedrooms.  This was a bank owned property that requires renovation. It was listed for 3 months for $139,000 and closed for $119,975.

We also sold 209 Amenia Road a 1350 sq. ft. home with two bedrooms and two baths.  The one level home is set well back from the main road and maintains a large kitchen and master suite.  Listed at $199,000 it closed for $195,000.

The most talked about sale was the Colgate Mansion at 138 Amenia Road. What is more impressive than the selling price of $6,137,500 is that another iconic Sharon property is to be revitalized.  It is a testament that people still desire to live in our town and that the properties are worthy of reinventing, redoing and regenerating for centuries to come.  This Mansion erected in 1903, the Colgate Mansion is one of the most beautiful authentic estates in New England, 50 acres, all original details, stone/stucco exterior, carriage trails, level pasture, stone walls. For more details search the sold section of Sharon on my website.

For Sale:

We have a number of properties listed here in the Village and there are more listings available on our site. Here is what is for sale:

103 Sharon Valley Road is a nature lover's sportsman's property with long views, beautiful fields, thousands of feet of frontage on pristine Webatuck Creek. Nature abounds on these 123 acres of land, an antique barn in wonderful condition with a bridge crossing the river to property of fields and streams, woods and trails. The main house is a classic 1870’s antique in great conditions offering 5 bedrooms and 3.5 bathrooms. A real find for $1,348,000 listed by Priscilla Pavel.

Up on The Green David Almquist has just listed 133 Main Street for $399,000.  Built on the site of the former Sharon Casino, it was built in 1927 after the Casino burned down.  With 1744 sq. ft. there are three bedrooms and 2 full and 2 half bathrooms.  The details are beautiful with wood flooring, specially carved banisters, fireplace and whimsical windows. A real treat that needs only touches of updating.

One of the only examples of Greek revival architecture in Sharon is 32 North Main Street listed for $268,000.  I have this single family home which is in move-in condition. Solidly built with period details, this home offers three bedrooms and a bathroom on the second floor. The main level has a dining room, living room with fireplace and built in bookcases and a renovated kitchen. Classically designed with Ionic columns, fantail portal above the door, it is a real piece of art.  There are two large decks on the back of the house overlooking amazing views across Sharon Valley.

56 Gay Street is a perfect in-town beauty that Toni Soule has listed. The house is in tip-top condition and while spacious the 4 bedrooms and 2.5 bathrooms are not overwhelmingly large.  It is a perfect home for a couple or a family. There are 3.9 acres with room for a garden or pool.  There is also a two story barn that was used by the former artist/documentary filmmakers as a studio/storage. It is listed at $475,000.

 

2 Jackson Hill Road offers great value. Set on a scenic 24 acres, this beautiful country style home boasts 6 bedrooms and 4 bathrooms. Built in the 1850’s this home has a formal library, living room and dining room.  There are even maid’s quarters that make a perfect nursery.  The house is in good condition with a modern kitchen and a rustic barn. The grounds maintain mature plantings and the view across the expansive wetlands is full of bird life.  It is listed by Drew Holland for $399,000.

I have listed 72 Hilltop Road for $350,000.  Set on three quarters of an acre of land with views to the east, this privately sited home is a two-story colonial style home with 4 bedrooms, formal dining room, and large living room with a fireplace.  Antique flooring, wood paneling and detailed moldings make this a splendid in town home in which to reside.

Unit #12 at 8 Upper Main Street is on the Green in Sharon offering no step access and just the right amount of space for very low maintenance and carefree living. One level with a spacious master suite and an extra bedroom and second full bath offer a convenient lifestyle. To that add a wonderful living room with deck and fireplace and an office and the compliment is complete. Jen Luning of our firm has it listed for $149,000 you can let others do the lawn mowing and snow plowing for you.

35 New Street is a listing Michele Pastre of the Sharon office is offering for $225,000. This 3 bedroom 1 bathroom home is one level and maintains oak flooring and a fireplace. The large in town lot has great privacy in the back with space for a garden and many mature trees. It is a perfect size for retirees, starter or small weekend home.

There are a number of properties in the neighborhood for sale and should you be interested, they can be found on our website at www.bainrealestate.com.  One can also 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.

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

Ellsworth Neighborhood

 

Here is the annual real estate report detailing the real estate activity in the last 12 months in the Ellsworth neighborhood.

Sharon home sales were only slightly off of last year’s sales with 41 homes selling in the last 12 months against 43 reported last year at this time. There are 75 homes on the market in Sharon (with 7 homes in contract to sell) which is a slightly larger supply of homes for sale than last year by 7 offerings. There are fewer foreclosures and there is an increase in buyer traffic. Stability has settled in as the local real estate market is getting healthier incrementally and maintaining a consistent pace of sales and listings.
 
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, but the 4^th quarter has closed out nicely as the buyers are a bit more eager to buy. Additionally, the last 12 months has seen 7 land sales according to the CTMLS and the town records. It is especially nice to see the uptick in interest in land.  So it appears the current trends are positive! Here is what is going on.

There is considerable activity on Herb Road with two recent sales, one land parcel in contract and one house under construction.  This quiet unpaved road is seeing some changes.

Sold:

85 Herb Road- Listed: $398,000- Sold: $315,000  We represented both sides of this last house on Herb Road and where one can enjoy peace and quiet on 18 wooded acres with both stream and pond.  It is a one bedroom house (4 bedroom septic system) with cherry flooring, pine, stone and large windows. The 12' deep fresh spring water pond is stocked with fish. It abuts over 1000 acres of preserved land and is really nicely done.

80 Herb Road- Listed: $595,000- Sold: $525,000  Situated on nearly 20 acres of orchard fields and woods this 2534 sq. ft. home was built in 1985 with an early adoption of environmental considerations.  The solar array provides power, the passive solar windows offer warmth and the post and beam construction allows for good flow of air.

Over the hill at 33 Morey Road a contemporary home on 9 acres closed for $205,000.  The home, which sold directly, maintains over 1200 sq. ft. of living space complete with 2 bedrooms and 2 bathrooms, electric heat and soft pine flooring.  The house requires considerable renovation.

Next door a 1960’s modern home was last listed for $274,000 before closing for $267,500 after two years on the market. 29 Morey Road is a one level home of 2100 sq. ft. with 4 bedrooms and 1 and a half bathrooms. Mid century elements detail the home with large floor to ceiling windows and spacious rooms throughout.  The property is a level 1.55 acre parcel with stone walls and mature plantings.

Another house sold privately, this one at 266 East Street. Set on 28 acres of woods and open land the house entails 2 bedrooms and 2.5 bathrooms in 2900 sq. ft. of space. There are hardwood floors in this one level 1990’s home.  The garage hosts a guest apartment atop that is nearly 800 sq. ft. with a bed and bath. The property sold for $925,000.

Lastly, 196 East Street is an amazing 170 acre property of fields and woods.  This gentleman’s farm is a holdover from a former dairy farm.  There is a small 2000 sq. ft. remodeled cabin from the 1940’s that has a fireplace, new kitchen and 3 bedrooms and 2.5 baths.  There is a more modern 4 stall horse barn plus a large 5 bay car barn with a full apartment atop. Roughly a third of the land is in fields with plenty of room for more development.  The views are distant to the east and south making for a perfect solar capture.  The property closed at $3,000,000 which is just under $16K per acre not including the improvements

For Sale:

Just around the corner at 33 Tichnor Road we have a wonderful country property offering with 4 acres.  Here one finds serenity & simplicity of living. Wood roof & natural siding, crisp, clean lines all created by Rafe Churchill Design. Multiple buildings dot the property - utilitarian and efficient. The rooms are both distinctive and comfortable with modern lighting fixtures echoing 1700s Shaker sensibilities. The renovated kitchen is amazing with a Liebherr refrigerator, 6x4 gas AGA stove, Miele coffee system, farmhouse sink, Groeh fixtures & 2 Fisher Paykel cleaning drawers. Its so special it was featured in numerous magazines as well as selected as the Wall Street Journal House of the Day in October.  Listed $975,000.

1 Northrup Road has a peaceful pastoral setting on 5 plus acres of gentle rolling topography and offers easy access via Route 7 and Route 4. This parcel has been perc-tested and surveyed, just pick the site with the best view and build your dream getaway.  Listed by my office associate Rick Meehan for $125,000, it is the best most affordable parcel currently offered.

89 West Woods Road at $1,800,000- is an 83 acre property of woods, pasture with incredible western views that capture the Catskill Mountains.  There are two barns, one a horse stable complete with tack room and apartment above.  The property has access to numerous miles of horse trails through Ellsworth and Westwoods’ neighborhoods. My associate Toni Soule has this property listed.

There are a number of properties in the neighborhood for sale and should you be interested, they can be found on our website at www.bainrealestate.com.  One can also 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.