THE LAKES REGION
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#4674701
MARKET OVERVIEW
2017 YEAR END
KNOWLEDGE IS POWER We are proud to share our Year End 2017 Market Report for the Lakes Region of New Hampshire 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 real estate market was extremely tight in 2017 in the Lakes Region of New Hampshire due primarily to a lack of inventory. Specifically, Belknap County closed sales in units decreased -10.9% and total sales volume decreased by -39.6%, while the Median Sale Price increased +1.6% and Average Days on Market decreased by -6.8%. For Carroll County, total closed sales in units decreased -21.3% and total sales volume decreased -16.7%, while the Median Sales Price increased by +0.6% and Average Days on Market decreased by -34.7%. 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 believe 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 Lakes Region of New Hampshire real estate market with 10 experienced Agents in our Meredith and Wolfeboro 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 Lakes Region of New Hampshire. Alan DiStasio - Chief Operating Officer
Source: TrendGraphix Data 2016-2017
ALTON NEW HAMPSHIRE
2016
2017
% CHANGE
181
169
7%
$365,826
$367,119
.4%
119
123
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)
100 95
For Sale
90
Sold
85
84
Pended
80 70
83
76
75 65
92
91
74
72 65 60
60
60
57
55
51
50 45 40 35 30 25
23
20 14
15 10 5 0
16
7
7
7
4
1/17
2/17
8 4
3/17
19 17 14
19
18 13
12
16
14 11
9
6
4/17
5/17
6/17
7/17
8/17
9/17
10/17
8
11/17
8
9
12/17
CENTER HARBOR NEW HAMPSHIRE
2016
2017
% CHANGE
42
26
38%
$423,313
$463,449
10%
139
131
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
For Sale
11 10
Sold Pended
10 9
9
10
10 9
9 8
8
8 7 6
6
6
6
5 4
4
2
2
2 1
1 0
3
3
3 2
1
1
2
2
2
2
2
1
2/17
3/17
4/17
2 1
1
0
0
1/17
2
2
4
0
5/17
6/17
7/17
8/17
9/17
10/17
11/17
12/17
GILFORD NEW HAMPSHIRE
2016
2017
% CHANGE
284
300
6%
$243,747
$292,535
20%
119
119
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)
140 130
For Sale
120
118
Sold
123 115
111
Pended
110
102
101
100 90
119
96 90
90
87
86
80 70 60 50 40 30
22
20 10 0
30
27
10
1/17
12
33 31
34
31
26 27
25
24
22 16
27 28
18
17
11
8
2/17
16
15 7
3/17
4/17
5/17
6/17
7/17
8/17
9/17
10/17
11/17
12/17
LACONIA NEW HAMPSHIRE
2016
2017
% CHANGE
486
503
4%
$235,460
$250,155
6%
121
104
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)
200
192
191
189
For Sale
191
Sold
180
175 166
166
Pended
164
162
160
145
140
132 117
120 100 80 60
55 45
40
30 25
20 0
22
36
51 41
40
54
49 48
54 53
51
44
34
17
1/17
2/17
3/17
4/17
32
29
23
5/17
6/17
7/17
8/17
9/17
10/17
19
24 23
11/17
12/17
MEREDITH NEW HAMPSHIRE
2016
2017
% CHANGE
168
173
3%
$415,121
$422,270
2%
115
103
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)
100
For Sale
84
83
Sold Pended
75
74 70
67
56
50
52
67
55 52
50
41
25 16 13 5
0
24
23
6
1/17
9
9
11
5
6
6
2/17
3/17
4/17
12
12
20
17 13 10
14
10 5
5/17
6/17
7/17
8/17
9/17
10/17
5
11/17
5
8
12/17
MOULTONBOROUGH NEW HAMPSHIRE
2016
2017
% CHANGE
219
237
8%
$426,950
$542,796
27%
159
136
15%
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 For Sale 105
Sold
101
98
95
Pended
93
90 81 74
71
69
62
60
61 55
31
30 23 17
15
11 7
0
1/17
5
6
2/17
3/17
6
22
19
21 15
13
21
20
21
26
12
4/17
5/17
6/17
11
7/17
8/17
9/17
10/17
21
19
20
11/17
4
12/17
WOLFEBORO NEW HAMPSHIRE
2016
2017
% CHANGE
221
203
8%
$469,875
$340,359
28%
195
136
30%
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)
119
120 For Sale
110
111
108
105
Sold
100
103
101
Pended 91
90
86
80 70 60
68
67 63
60
50 40 29
30 20 10 0
24 18
18
14 10
1/17
7
9
2/17
10
3/17
7
20 16
9
4/17
24
22
20
18
13
12
9 5
5/17
6/17
7/17
8/17
9/17
10/17
8
11/17
7 6
12/17
MLS#4675508
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