LUXURY
MARKET REPORT 2017 YEAR END
LUXURY MARKET OVERVIEW 2017 YEAR END
LUXURY IS AN EXPERIENCE NOT A PRICE POINT We are proud to share our Year End 2017 Luxury Market Report for the Vermont and New Hampshire real estate market. In this report you will find market trends for the Luxury Market defined as homes sold $600K+ as well as homes sold over $1MM in order to provide you with the most updated information so you can make informed decisions as you evaluate your real estate options. Four Seasons Sotheby’s International Realty has 20 offices spread throughout Vermont and New Hampshire and is widely regarded as the leader in the Luxury Market with 32% more properties sold at $600K+ and 63% more properties sold at $1MM+ than our next closest competitor. We are committed to providing you with the highest level of service and expertise to Buyers and Sellers regardless of price point. It would be our privilege to serve you for all of your real estate needs throughout Vermont and New Hampshire
Staige Davis - CEO
THE LUXURY MARKET 600K+ AND $1MM+ The Luxury Market - defined as $600K+ and $1MM+ - had a strong year in Vermont and New Hampshire. In New Hampshire, total units sold increased 25% for homes between $600K and $999K and 24% for homes over $1MM. For Vermont, total units sold were up 18% in the $600K-$999K range and 15% for homes over$1MM. However, the Luxury Market continues to be primarily a Buyers market, particularly in Vermont, due to a relatively large supply of inventory. This has resulted in many homes staying on the market for a prolonged period of time before finding a Buyer. Pricing appropriately in this type of marketplace is critical and many Sellers must consider how market dynamics contribute to pricing expectations from buyers in order to be competitive. As long as the economy continues to be strong , we expect this trend to continue into 2018. However, the new federal tax bill may have an impact on the higher end, second home market. Source: TrendGraphix Data 2017
LUXURY REPORT 600K+ TOTAL SALES IN $
TOTAL SALES IN UNITS
(JAN. 2017 - DEC. 2017)
(JAN. 2017 - DEC. 2017)
100M
121
288
129
170M
149 218
206M
AVERAGE DAYS ON MARKET (JAN. 2017 - DEC. 2017)
106
196
FSSIR COMPETITOR 1 COMPETITOR 2
92
COMPETITOR 3 COMPETITOR 4 Source: TrendGraphix Data 2017
296M
112M
140
118
LUXURY REPORT 1MM+ TOTAL SALES IN UNITS
TOTAL SALES IN $
(JAN. 2017 - DEC. 2017)
(JAN. 2017 - DEC. 2017)
40M
26 27
88
49
81M 98M
54
AVERAGE DAYS ON MARKET (JAN. 2017 - DEC. 2017)
157
209
FSSIR COMPETITOR 1 COMPETITOR 2
124
COMPETITOR 3
172
COMPETITOR 4 Source: TrendGraphix Data 2017
146M
46M
271
SOUTHERN VERMONT
CHAMPLAIN VALLEY
LAKE WINNIPESAUKEE REGION
Mount Snow: 802.464.1200 Stratton: 802.297.1100 Manchester: 802.362.4551 Okemo: 802.228.4537 Bromley: 802.824.3113
Middlebury: 802.388.1000 Vergennes: 802.877.3232 South Burlington: 802.864.0541
Meredith: 603.677.7012 Wolfeboro: 603.941.1000
CENTRAL VERMONT Rutland: 802.774.7007 Stowe: 802.253.7267 Randolph: 802.565.8136
NORTHEAST KINGDOM St. Johnsbury: 802.751.7582
LAKE SUNAPEE REGION New London: 603.526.4050
UPPER VALLEY Fairlee: 802.333.4701 Hanover: 6 03.643.6070 603.643.6400 West Lebanon: 603.298.5155
SOUTHERN NEW HAMPSHIRE Bedford: 603.413.7600
FourSeasonsSIR.com Each Office is Independently Owned and Operated