NORTHEAST KINGDOM
MARKET REPORT 2017 YEAR END
PROPERTIES OF DISTINCTION REGARDLESS OF PRICE Whether your property is valued at $200,000 or $2,000,000, it has a story all its own. It’s written in the details, big and small, that make a house into a home... or a piece of land into a dream. A remembrance of things past... a celebration of things to come. Telling these treasured tales is our specialty. We start by uncovering and bringing to life all the things that make a property exceptional. By combining outstanding photography and attention-getting narrative details, our distinctive storytelling process provides our clients the opportunity to showcase their home’s finer details in ways that truly resonate with prospective buyers. It is with pleasure that we use our considerable experience and resources to artfully unite special places with those who will cherish them.
MLS#4640145
MARKET OVERVIEW
2017 YEAR END
KNOWLEDGE IS POWER We are proud to share our Year End 2017 Market Report for the Northeast Kingdom Region of Vermont real estate markets. In this report you will find year over year market trends by Town in order to provide you with the most updated information so you can make informed decisions as you evaluate your real estate options. Overall, the real estate market was relatively strong in 2017 for the Southern Vermont Region of Vermont. Specifically, many towns reflected increases in number of properties sold including Burke, Greensboro, Lyndon, Orleans and St. Johnsbury. Furthermore, the Average Sale Price increased in many of these towns as well including Greensboro, Orleans and St. Johnsbury. . Moving forward into 2018, we believe the lack of inventory will continue to be a driving factor in lower and mid-range segments which will continue to support a Seller’s market. In some cases this can result in higher home prices. However, fewer buyers in the luxury segment dictates the importance of appropriate pricing which is critical to selling properties in a timely manner.” The economy is strong with low unemployment and wages have begun to show some improvement. We are cautiously optimistic that the current trends will continue into 2018 even in the face of likely higher mortgage rates and the new federal tax legislation’s impact on the market. Four Seasons Sotheby’s International Realty has 20 offices spread throughout Vermont and New Hampshire with over 10 experienced Agents in our St. Johnsbury and Stowe offices ready and eager to serve all of your real estate needs. We are committed to providing you with the highest level of service and expertise to Buyers and Sellers regardless of price. It would be our privilege to serve you for all of your real estate needs in the Southern Vermont Region. Alan DiStasio - EVP Managing Director Cover Property: MLS#4641860 Source: TrendGraphix Data 2016-2017
BURKE VERMONT
2016
2017
% CHANGE
26
33
27%
$195,880
$195,859
0%
148
238
61%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET Source: TrendGraphix Data 2016-2017
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2017 - DEC. 2017)
For Sale
50
Sold
45
Pended
45
42
42
40
47
46
40
39
38 36
36
39
37
35 30 25 20 15 10 7
5 1
0
1
1/17
3
2
2/17
3
2
3/17
3
5
4
4/17
7
2
5/17
2
3
6/17
2 1
7/17
8/17
2
9/17
5 1
10/17
2
3
11/17
2
12/17
GREENSBORO VERMONT
2016
2017
% CHANGE
13
19
46%
$279,100
$341,152
22%
289
369
28%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET Source: TrendGraphix Data 2016-2017
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2017 - DEC. 2017)
30 28
For Sale Sold
26 24
24
24 23
22 20
25
Pended
21 20
20 19 18
18
17
17 16
16 14 12 10 8 6 4
4 2
2 0
1
2
2
1/17
1
0
0
2/17
3/17
4/17
2
2
1
5/17
6/17
7/17
3
3 2
1
2 0
8/17
9/17
10/17
11/17
0
12/17
LYNDON VERMONT
2016
2017
% CHANGE
45
63
40%
$138,393
$134,170
3%
149
190
28%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET Source: TrendGraphix Data 2016-2017
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2017 - DEC. 2017)
40 38 36 34
For Sale 37
Sold 35
Pended
34
32
30
30
31
35
34
34
34
34
30
30
28 26 24 22 20 18 16 14 12 10 6 4
9
9
8
6
5 3
5
5
6
5
4
3
3
2
2 0
8 5
4
4 2
2
1
1/17
2/17
3/17
4/17
5/17
6/17
7/17
8/17
9/17
10/17
5
4
11/17
1
12/17
ORLEANS VERMONT
2016
2017
% CHANGE
11
14
27%
$67,840
$113,885
68%
132
121
8%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET Source: TrendGraphix Data 2016-2017
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2017 - DEC. 2017)
8
For Sale Sold
7
6
Pended 6
6
6
5
5
5
5
4 3
3
3
3
3
1
1
1
0
2
2
2
3
3
1
2
2
1
1
2
2
2
2
1
2
1 1
0
0
1/17
2/17
0
0
3/17
4/17
5/17
6/17
7/17
8/17
9/17
10/17
11/17
12/17
ST. JOHNSBURY VERMONT
2016
2017
% CHANGE
79
98
24%
$128,794
$144,308
12%
173
177
2%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET Source: TrendGraphix Data 2016-2017
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2017 - DEC. 2017)
80 75
For Sale
70
Sold
65
63 59
60 55
Pended
62
57
55
53
57
56
55
53
50 45 39
40
39
35 30 25 20 15 9
10 5 0
7 4 1
1/17
0
3
2/17
9
5
4
3/17
4/17
8
12
13
13
13 7
8
9
12
4
5/17
6/17
7/17
8/17
9/17
6
10/17
7
8 3
11/17
5
12/17
MLS#4451709
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