Sharon Neighborhood Update

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.

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