First Half 2018 Market Report - Northeast Kingdom

NORTHEAST KINGDOM

MARKET REPORT FIRST HALF 2018

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#4691028

MARKET OVERVIEW

FIRST HALF 2018

KNOWLEDGE IS POWER We are proud to share our First Half 2018 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 during the First Half of 2018 for the Northeast Kingdom Region of Vermont varied significantly by town.

Specifically, Burke and Greensboro reflected significant increases in number of properties sold as well as an increase in Average Sale Price.

However, Lyndon, Orleans and St. Johnsbury reflected a sharp decrease in the number of properties sold and a modest decrease in the Average Sale Price.

Moving forward, 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 optimistic that the current trends will continue into the Second Half of 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 and our experienced Agents in our St. Johnsbury office are 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 Northeast Kingdom Region.

Staige Davis - CEO Buff McLaughry - President Alan DiStasio - COO Lori Shipulski - Regional Manager for the Upper Valley & Northeast Kingdom Cheryl Kerr - Managing Broker St. Johnsbury Office Cover Property: MLS#4682913 Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018

BURKE VERMONT

FIRST HALF 2017

FIRST HALF 2018

% CHANGE

15

32

113%

$147,856

$218,896

48%

182

253

39%

NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET

Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018

NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JULY 2017 - JUNE 2018)

For Sale

50

Sold

47

46

Pended

45

42

43 39

40

39

40

40 38 36

35

36

29

21

14

7

8

7

8

5

0

2

1 7/17

2

7

8/17

4

1

5

9/17

10/17

2

3

11/17

1 0

12/17

4

1/18

7

5 3 3

4

2/18

3/18

10

4

4

4/18

5/18

6/18

GREENSBORO VERMONT

FIRST HALF 2017

FIRST HALF 2018

% CHANGE

6

8

33%

$254,817

$269,118

6%

437

287

34%

NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET

Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018

NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JULY 2017 - JUNE 2018)

30

25

25 23 21 20

20 18 17

17

17 16

15

14 12

12

10

5 4 3 2

0

1 0

7/17

2 3

2

8/17

9/17

1 2

10/17

0

3

11/17

2

0

1 1

1 0

0

1 1

2

2

12/17

1/18

2/18

3/18

4/18

5/18

6/18

0

LYNDON VERMONT

FIRST HALF 2017

FIRST HALF 2018

% CHANGE

30

23

23%

$114,195

$107,486

6%

203

176

13%

NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET

Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018

NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JULY 2017 - JUNE 2018)

40 37 35

34

34

34

33

34

33

32

31

30

31

30

27

20

13

7 4

0

6

5

8

7/17

2

8

7

6

4

5

2

4

8/17

9/17

10/17

2

4

11/17

1 5

12/17

2

1/18

2

1 0

4

4

6

2/18

3/18

4/18

5/18

6/18

0

ORLEANS VERMONT

FIRST HALF 2017

FIRST HALF 2018

% CHANGE

6

4

33%

$99,058

$128,450

30%

127

31

76%

NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET

Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018

NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JULY 2017 - JUNE 2018)

6

6

6

5

5

4.8

4

4

3.6 3

3

3

3

3

2.4 2

2

2

2

2

2

1.2 1

0

1

1

1

1

2

2

7/17

8/17

9/17

10/17

1

2

0

11/17

12/17

0

0

0

1/18

1

0

2

1

1

2/18

3/18

4/18

5/18

0

6/18

ST. JOHNSBURY VERMONT

FIRST HALF 2017

FIRST HALF 2018

% CHANGE

43

30

30%

$132,370

$126,684

4%

178

174

2%

NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET

Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018

NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JULY 2017 - JUNE 2018)

60

57

56

55 53

50 44

43

41 39

40

39

38 35

34

30

20

13

10

10

9

8

7 4

0

10

7

13

12

6

8

7/17

8/17

9/17

10/17

11/17

3

5

12/17

3

5

4 2

1/18

4

1 1

4

7

5

2/18

3/18

4/18

5/18

6/18

MLS#4640145

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