2017 Year End Market Report - Northeast Kingdom

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

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