2017 Year End Market Report - Champlain Valley Edition

CHAMPLAIN VALLEY

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#4661982

MARKET OVERVIEW

2017 YEAR END

KNOWLEDGE IS POWER We are proud to share our Year End 2017 Market Report for the Champlain Valley real estate market. 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 market reflected mixed results in 2017 in the Champlain Valley. Specifically Chittenden County closed sales in units was down 9.5% and total sales volume was down 8.3%, however, the Average Sale Price increased 1.3% to just over $320K. For Addison County, total closed sales in units was up 22.8% and total sales volume was up 9.8%, however, the Average Sales Price decreased by 10.6% to just over $295K. Moving forward into 2018, we believe the lack of inventory will continue to be a major driving factor and it will continue to be more of a Sellers market at the modest price range which should continue to drive increased prices.

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 and is widely regarded as one of the leaders in the Champlain Valley real estate market with over 40 experienced Agents in our South Burlington, Middlebury and Vergennes 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 Champlain Valley.

Staige Davis - CEO Buff McLaughry - COO Alan DiStasio - EVP Managing Director Laurie Mecier-Brochu - Regional Manager for the Champlain Valley Cover Property: MLS#4673491 Source: TrendGraphix Data 2016-2017

ADDISON VERMONT

2016

2017

% CHANGE

14

18

27%

$404,600

$336,186

17%

199

164

18%

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

24

23

Sold

22

23

23

23

22

Pended 20

20 18

23

19

19 18 17

17

16 14 12 10 8 6 4 2 0

3 2

1 0

1/17

2

2

2

2/17

1

1 0

3/17

1

4/17

1

1

1

5/17

6/17

2

2

2 1

7/17

8/17

9/17

2

2 1

10/17

1 0

11/17

12/17

ALBURG VERMONT

2016

2017

% CHANGE

44

51

16%

$157,896

$203,525

29%

203

182

10%

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

76

For Sale

70

70

Sold

66

Pended 60

60

58

57

54 51

50

49

44

40

40

40

30

20 12

10 1

0

3

1/17

1

2/17

3

4

3/17

5

5

5

1

4/17

5/17

2

3

6/17

6

8

9 6

6

7

5 2

1

4

4 0

7/17

8/17

9/17

10/17

11/17

12/17

BRIDPORT VERMONT

2016

2017

% CHANGE

15

13

13%

$186,626

$205,038

10%

173

163

6%

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)

12 11

11

11

For Sale Sold

10

10

Pended 9

9

9

9

9

8

8 7

7

8

8

7

6 5 4 3

1 0

2

2

2 1

1/17

1

2/17

2

2

2

2

2

2

2 1

3/17

1

4/17

1

1 0

0

5/17

6/17

7/17

8/17

9/17

10/17

1 0

11/17

0

12/17

BURLINGTON VERMONT

2016

2017

% CHANGE

334

325

3%

$337,384

$378,644

12%

55

53

4%

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)

50 46

For Sale

45

Sold 41

Pended

40

45

44

43

42

41

36

35 32

32

31

31

30

28

25

27

30

28 25

24

24

21

23

20

19

22 18

19

16

15

29

29

24

23

36

35

19

13 10

10

11

5 0

1/17

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

CHARLOTTE VERMONT

2016

2017

% CHANGE

63

54

14%

$516,662

$525,859

2%

149

185

24%

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)

60

58

55

53

For Sale

53

Sold

51

50 45

Pended

47

46

46

43 41

40

40

37

35 31

30 25 20 15 10 5 0

5

4

4

5

2 0

1/17

2/17

3/17

7

5

4

6 4

2

1

4/17

5/17

6/17

6

6

1

7/17

8/17

4

6

6

3

9/17

10/17

5

4

11/17

5 1

12/17

COLCHESTER VERMONT

2016

2017

% CHANGE

240

252

5%

$299,588

$305,928

2%

112

112

0%

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

80

Sold

76

Pended

73

73

72

69

69 65

65

64

63

60

60

60

40 31

29

27

26

20

29

22

21

18

18 17

19

17

12

0

28

25 20

19

20

20 17

14 8

8

1/17

2/17

7

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

ESSEX VERMONT

2016

2017

% CHANGE

378

326

14%

$305,301

$286,215

6%

55

64

16%

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)

79

80

76

75

For Sale

72 69

Sold

66 62

63

61

60

Pended 58

55 50

42

40

39 33

29

34

34 34

37 34

31

24 21

20

20

21

27

25

24 21 22

20

20

17 12 7

0

1/17

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

FERRISBURG VERMONT

2016

2017

% CHANGE

52

42

19%

$313,532

$376,488

20%

179

116

35%

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)

34

33

32 30

For Sale

28

Sold

26

Pended

28 26

24

25

24

23

23

22 20

19

18 16

16

16

15

14 12

12 10 8

8

7

7

6 4

4 2 0

6

5

2

1/17

4 2

2/17

1

3/17

3 2

2

2

4/17

5/17

3

6/17

2

7/17

8/17

4 2

9/17

3

10/17

6 3

11/17

2

2

12/17

GRAND ISLE VERMONT

2016

2017

% CHANGE

37

47

27%

$268,043

$220,672

18%

144

267

85%

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)

50

48

45

47

For Sale

42

Sold

40

40

Pended

39

38

37

35 30

30 25 20

23

23

20

20

15 10 5

8 5 3

3 1

0

1/17

2

2/17

3

3

3

2

2

3/17

3

3

6 4

4

2

2

2

1

4/17

5/17

6/17

7/17

8/17

9/17

10/17

1

11/17

1

2 0

12/17

HINESBURG VERMONT

2016

2017

% CHANGE

50

67

34%

$277,704

$291,604

5%

87

80

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)

30

Sold

27 26

26 24

For Sale

28

28

Pended

25

25

24

24 22

22

21

22

22

21

20 18 16 14 12 10 8

7

6

6 4

4 2 0

5

3 1

1/17

6

6

9

8

8 6

6

9 8

6 5

4

4

3

2

2

1

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

1

12/17

ISLE LA MOTTE VERMONT

2016

2017

% CHANGE

14

18

29%

$258,078

$211,225

18%

198

176

11%

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)

20 18

For Sale

18

17

Sold Pended

16 14

16

16

14

14

15

15

15 14

12 10

10

9

8 6 4

4 3

2 0

3

3

2

2

2 1

1

1

1

1

1

0

1/17

1 0

0

2/17

3/17

4/17

5/17

6/17

7/17

8/17

2

2

9/17

10/17

11/17

0

12/17

JERICHO VERMONT

2016

2017

% CHANGE

62

60

3%

$289,304

$326,502

13%

74

66

11%

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)

20 17

18

14

10

11

13 12

12 10

10

9 8

8

8

7 6

6

6

6 5

1

2/17

5

5

5 4

3

3

2

1/17

5

4

3

0

5

5

4

4

4

0

12

16

14

2

Sold Pended

16

8

For Sale

15

1

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

MIDDLEBURY VERMONT

2016

2017

% CHANGE

74

106

43%

$227,446

$255,757

12%

92

99

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)

34 32 30

30

30

For Sale

28

28 26

30

26

Sold

26

26

24

Pended

24

23

23

22 20 18 16 14

13

13

12

11

10 8

8 6

16

15

6

9

9

11

11

8 7 5

4

4

4

7 5

7

8

8

8

7

6

5

2 0

1

1/17

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

NEW HAVEN VERMONT

2016

2017

% CHANGE

21

13

38%

$239,345

$210,453

12%

260

296

14%

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)

16 For Sale

15

Sold

14

14

14

14

14

Pended

13

13

13 12

12 11 10

10

10 9

9

9 8

8 7 6 5 4 3

2

2

0

1

1

1

0

0

1/17

2/17

3/17

2

2

2 1

1

1

1

1

1

10/17

11/17

1

1

1

0

0

4/17

3

5/17

6/17

7/17

8/17

9/17

12/17

NORTH HERO VERMONT

2016

2017

% CHANGE

34

30

12%

$260,415

$300,995

16%

236

222

6%

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 For Sale

36

36

Sold

34

33

Pended

32

33

30

29

28

27

24

24

23

22

21

20

19

16 12 8 4

3 1

0

1

1/17

1

2/17

3 2

3/17

2

4/17

6

6

5

4 2

5/17

1

6/17

4

4 2

7/17

1

1

8/17

2

9/17

2 1

10/17

1

11/17

0

12/17

RICHMOND VERMONT

2016

2017

% CHANGE

64

40

38%

$268,881

$268,326

.2%

131

127

3%

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)

20

For Sale Sold Pended

15

15

15

14

12 11

11

11

11 10

10

10 9

7

7 6

5

5

4 3 2

2 1

0

6

6

2

2

3

2 1

1

4

4

3

2

1

1

2

1 0

1/17

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

SHELBURNE VERMONT

2016

2017

% CHANGE

119

86

28%

$496,657

$518,355

4%

137

78

43%

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)

34 32

31

For Sale

30

Sold

28

28

Pended

26 14

24 22 20

26

15 14

23 21

20

20

18 16 14

14 12

11 10

10

10

8

7 6

6 4 2 0

7

5 3

2

1/17

12

11

11

9 6

9 6

6

6

6

8 7

4 2

2/17

3

3/17

4/17

5/17

2

6/17

7/17

8/17

9/17

10/17

11/17

0

12/17

SHOREHAM VERMONT

2016

2017

% CHANGE

10

13

30%

$212,500

$204,151

4%

160

158

1%

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)

24 22

For Sale

21

Sold

20

20

Pended

19

18

19 17

17

16

16 14 12

12 10

10 8

12

9 8

6 3 2

2

2 0

4

4

4 1 0

1/17

0

2/17

1

0

0

3/17

4/17

5/17

6/17

1

1

1

1 0

7/17

8/17

9/17

10/17

11/17

1

12/17

S. BURLINGTON VERMONT

2016

2017

% CHANGE

329

341

4%

$326,515

$340,040

4%

56

61

9%

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)

120 110

For Sale Sold

100

Pended

90 80

103

101

95

93

92 88

85

86

86

85

81 73

70 60 49

50

44

44

41

40

36 30

30 24

20 13

13

34

29

27

37 37

32

32 25

22

17

18

21

19

20

13

10 0

0

1/17

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

SOUTH HERO VERMONT

2016

2017

% CHANGE

30

36

20%

$335,066

$428,248

28%

163

103

37%

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 36

For Sale

34

Sold

32

35

34

31

31

Pended

28

27 25

24

24

23

21

20

20

20

16 12 8 4

4 0

2

2

2

0

1/17

2/17

3 1

1

3/17

1

4/17

3

4

2

5 3

6 4

4

4

4 2

2 0

5/17

6/17

7/17

8/17

9/17

10/17

11/17

3 0

12/17

UNDERHILL VERMONT

2016

2017

% CHANGE

39

47

21%

$298,106

$316,312

6%

104

80

23%

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)

20

For Sale Sold

15

Pended

15 14

14

14 13

13

13 12

12

10

10 9

7 6

6 5

5

5

5

5 4

4

4

4 3

3 2

2

3

3 2

2 1

1

0

1/17

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

2 1

1

11/17

1

12/17

VERGENNES VERMONT

2016

2017

% CHANGE

34

31

9%

$169,897

$208,149

23%

118

186

58%

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)

14 13

For Sale

12

Sold 11

Pended

11

11

11

10 9

9

8

8

8 7

7

6 5 4

4 3

2

2

2

0

2

2

2

2

2

4

4

3

3

3

3

1

4

4

2

1

1

1 0

1/17

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

WILLISTON VERMONT

2016

2017

% CHANGE

161

175

9%

$324,188

$347,188

7%

74

97

31%

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)

60 55

52

51

For Sale

52

Sold

50

Pended

45

44

43

43

41

40

39

38

37

38

35 29

30

20

18

17 16

15 12

10

12

11

13

14 14

16

14

17

16 14 10

8

8

9

7

5 0

8

8

26

25

25

25

0

1/17

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

WINOOSKI VERMONT

2016

2017

% CHANGE

74

74

0%

$269,650

$250,320

72%

51

47

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)

12 11 For Sale

10

Pended

9

9

7

7

7

5

5

7

7 6

4 3 2

2

5

5

4

3 2

8

6

6

5 4

8

8

7

8

6

10

10

Sold

4

6 5

5

4

4

4

4

4

3 2

2

2

1 0

0

1/17

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

MLS#4670831

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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