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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