Luxury Market Report V ER M ONT & NEW H AM PSH I R E Q1- Q3 2023
Luxury Market Introduction Q1 - Q3 2023
Luxury is an Experience We are pleased to share our latest Luxury Market Report covering both New Hampshire and Vermont. In this report you will find real estate trends for the Luxury Market which is defined as homes sold for over $1MM. Four Seasons Sotheby’s International Realty is the clear leader in the Luxury Market with nearly +44% more properties sold at the $1MM+ level than our next closest competitor in the two states combined. Our performance is the direct result of the reach and power of our brand together with our ongoing commitment by our associates and staff to provide the highest level of service and expertise to both Buyers and Sellers. It would be our privilege to service all of your real estate needs in this beautiful and scenic place we call home.
Laurie Mecier-Brochu CEO/President *Source: Trendgraphix Data - 1/1/23 - 9/30/23All VT & NH Counties Combined
Table of Contents Market Overview PAGE 4
$1MM + Vermont & New Hampshire PAGE 6
$1MM + Vermont PAGE 8
$1MM + New Hampshire PAGE 10
Market Overview Q1 - Q3 2023
Q1 - Q3 2023 Recap The Luxury Market in Vermont and New Hampshire began to show signs of slowing during the Q1 - Q3 of 2023 given all of the marketplace uncertainty. Vermont reflected a decrease of -12.6% in Properties Sold while the Average Sales Price decreased slightly at -3.1% and Average Days on Market increased +6.8%. New Hampshire exhibited a -4.6% decrease in Properties Sold, Average Sale Price remained flat at +0.1% and a +50.0% increase in Average Days on Market. Lack of inventory remains at historically low levels which in turn has helped to keep prices relatively stable. Pricing appropriately, preparing your home for market, and reaching the right Buyers will become even more critical in order to sell your property in a timely manner. Properties that are overpriced are beginning to sit on the market for longer periods of time. Now more than ever, you need a trusted partner with the experience, track record and resources to navigate this uncertain market. *Source: Trendgraphix Data - 1/1/23 - 9/30/23- All VT & NH Counties Combined
PAWLET, VT
SUNAPEE, NH
WINHALL, VT
HANOVER, NH
GRAFTON, VT
HANOVER, NH
A sample of some of our Significant Sales from the third quarter of 2023 throughout Vermont & New Hampshire
BEDFORD, NH
PITTSFIELD, VT
ENFIELD, NH
PITTSFIELD, VT
WILLISTON, VT
JERICHO, VT
Luxury Report: $1MM+ VERMONT & NEW HAMPSHIRE
Q1 - Q3 2022
Q1 - Q3 2023
% CHANGE
1,182
1,098
7.1%
$1,722,942
$1,709,279
.8%
52
66
26.9%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKE T
Source: Prime MLS 1/1/22 - 9/30/22 and 1/1/23 - 9/30/23— All VT & NH Counties Combined
Number of Homes For Sale vs. Sold vs. Pended (OCTOBER 2022 - SEPTEMBER 2023)
600
FOR SALE
550 500
564 542
SOLD PENDED
502
470
450
435 401
400
391 355
350
322
310
317
308
300 250 200 150 100
104
0
69
53
50
149
148 116
92
88
74
149
134
115
28
30
26
24
20
33
28
33
39
27
40
45
10/22
11/22
12/22
1/23
2/23
3/23
4/23
5/23
6/23
7/23
9/23
9/23
Source: Trendgraphix utilizing Prime MLS data 10/1/22 - 9/30/23— All VT & NH Counties Combined
Luxury Report: $1MM+ VT & NH COMBINED
Total Sales in $000
Total Sales in Units
(JAN. 2023 - SEPT. 2023)
(JAN. 2023 - SEPT. 2023)
80M
57 66
90M
171
187M
106
216M
119
FSSIR
304M
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
COMPETITOR 4
*Source: Prime MLS Data - 1/1/23 - 9/30/23— All VT & NH Counties Combined
Luxury Report: $1MM+ VERMONT
Q1 - Q3 2022
Q1 - Q3 2023
% CHANGE
372
325
12.6%
$1,707,431
$1,654,660
3.1%
74
79
6.8%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKE T
Source: Prime MLS 1/1/22 - 9/30/22 and 1/1/23 - 9/30/23— All VT Counties Combined
Number of Homes For Sale vs. Sold vs. Pended (OCTOBER 2022 - SEPTEMBER 2023)
250
240
FOR SALE
225
224
SOLD PENDED
200 184
181
172
175
167
159
156
150
145
143
133
130
125 100 75 50 25 0
36
27
24
19
28
30
10/22
11/22
44
35 19
26
34
29
23
45
37
24
20
33
28
33
39
27
40
45
12/22 8/22 1/23
2/23
3/23
4/23
5/23
6/23
7/23
9/23
9/23
Source: Trendgraphix utilizing Prime MLS data 10/1/22 - 9/30/23— All VT Counties Combined
Luxury Report: $1MM+ VERMONT
Total Sales in $000
Total Sales in Units
(JAN. 2023 - SEPT. 2023)
(JAN. 2023 - SEPT. 2023)
51M
30 30
40M
104
169M
62M
32 57
FSSIR
80M
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
*Source: Prime MLS Data - 1/1/23 - 9/30/23— All VT Counties Combined
COMPETITOR 4
Luxury Report: $1MM+ NEW HAMPSHIRE
Q1 - Q3 2022
Q1 - Q3 2023
% CHANGE
810
773
4.6%
$1,730,065
$1,732,243
.1%
42
63
50%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKE T
Source: Prime MLS 1/1/22 - 9/30/22 and 1/1/23 - 9/30/23— All NH Counties Combined
Number of Homes For Sale vs. Sold vs. Pended (OCTOBER 2022 - SEPTEMBER 2023)
300 270
289 266
299
289
FOR SALE 249
SOLD
240
PENDED 215
215
210 187
180
164
154
150
173
163
120 90 62
60
51
48
48
32
30 0
99
81
76
75
106
102
98
104
82
47
45
27
50
55
78
130
95
98
98
10/22
11/22
12/22
1/23
2/23
3/23
4/23
5/23
6/23
7/23
9/23
9/23
Source: Trendgraphix utilizing Prime MLS data 10/1/22 - 9/30/23— All NH Counties Combined
Luxury Report: $1MM+ NEW HAMPSHIRE
Total Sales in $000
Total Sales in Units
(JAN. 2023 - SEPT. 2023)
(JAN. 2023 - SEPT. 2023)
49
49M
67
62M
44M
57
103
FSSIR
118
COMPETITOR 1
89M
COMPETITOR 2
COMPETITOR 3
*Source: Prime MLS Data - 1/1/23 - 9/30/23— All NH Counties Combined
121M
COMPETITOR 4
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Vermont New York Hudson Valley Champlain Valley Kingston: 802.864.0541 845.331.3100 South Burlington: Rhinebeck: 845.876.5100 Central Tivoli:Vermont 845.757.5000 Catskill: 518.943.7533 Rutland: 802.774.7007 Hudson: 518.822.0800 Killington: 802.746.4203 Stowe: 802.253.7267 Upstate New York Northeast Kingdom Saratoga Springs: 518.580.8500 St. Johnsbury: 802.751.7582 Bolton Landing: 518.644.9500 Lake Placid: 518.523.2550 Southern Vermont Central New York Mount Snow: 802.464.1200 Stratton: Syracuse: 802.297.1100 315.685.8100 Thousand Manchester: Islands 802.362.4551 Region: 315.685.8100 Okemo: 802.228.4537 Finger Lakes Region: 315.685.8100
New Hampshire Lake Sunapee Region New London: 603.526.4050 Lakes Region of New Hampshire Meredith: 603.677.7012 Southern New Hampshire Bedford: 603.413.7600 Peterborough: 603.924.3321 Upper Valley Hanover: 603.643.6070
Upper Western Valley New York Fairlee: Buffalo: 802.333.4701 716.320.1414 Rochester: 585.394.7111
New Vermont York Hudson Valley Champlain Valley Kingston: 845.331.3100 South Burlington: 802.864.0541 Rhinebeck: 845.876.5100 Central Vermont Tivoli: 845.757.5000 Catskill: Rutland:518.943.7533 802.774.7007 Hudson: 518.822.0800 Killington: 802.746.4203 Stowe: 802.253.7267 Upstate New York Northeast Saratoga Springs:Kingdom 518.580.8500 St. Johnsbury: 802.751.7582 Bolton Landing: 518.644.9500 Lake Placid: 518.523.2550 Southern Vermont New York MountCentral Snow: 802.464.1200 Stratton: Syracuse:802.297.1100 315.685.8100 Thousand Manchester: Islands Region: 802.362.4551 315.685.8100 802.228.4537 FingerOkemo: Lakes Region: 315.685.8100
New
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Western Upper Valley New York Fairlee: Buffalo:802.333.4701 716.320.1414 Rochester: 585.394.7111
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