Neighborhood Update - Mudge Pond

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.

Sharon HOMES Report- 2013-2014

Property Type: Residential Status: Closed/Sold Number of Properties: 47

Beds Baths SqFt Listing Price LP$/SqFt Sale Price SP$/SqFt SP/LP ADOM Average 3 2.33 2,222 $508,447 $221.33 $451,015 $197.78 89.85% 176 Median 3 2 2,106 $405,000 $213.94 $387,500 $194.67 90.9% 120

Sharon HOMES Report 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 Average 3 2.62 2,371 $512,888 $223.78 $467,523 $204.02 90.5% 210 Median 3 2.5 2,073 $425,000 $192.91 $405,000 $170.43 92.3% 161

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 coun$522,500.

try 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

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.

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