Q1 2017 Market Report - Upper Valley

Q1 2017 MARKET REPORT

UPPER VALLEY

Knowledge is Power We are proud to share with you our Vermont and New Hampshire Q1 2017 Market Report. Our focus is to ensure that our clients (whether selling or purchasing real estate) have comprehensive information in order to make informed decisions. Ultimately, your success is ours.

I

n our first quarter report, you will find year over year market trends.

Any one of our Associates can produce a customized report by price, region, and across multiple town upon request. The Market is strong, but we are experiencing a shortage of inventory in some price ranges.

I remember my first mortgage was 18.5%. The slight increase we have experienced since the historic lows of the last few years is minor.

We hope you find our Q1 Market Report for 2017 helpful as you evaluate your real estate options. At Four Seasons Sotheby’s International Realty, we are committed to providing the highest level of service and expertise to buyers and sellers alike at all price points.

You can find us on the web at www.FourSeasonsSIR.com or download our terrific app (Real Estate VT NH). Sixty percent of real estate web traffic is now viewed on a mobile platform.

It will be our privilege to serve you.

Staige Davis, CEO

MLS#4622913

FO U R S E A S O N S S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y | Q 1 2 0 1 7 M A R K E T R E P O R T | 2

UPPER VALLEY REPORT Total Sales in Units varies by individual town: -L ebanon and Woodstock increased significantly by +37.0% and +87.0% respectively - H artford reflected a modest decrease of -2.6% - Hanover was flat

• Average Sale Price also varied by town: -N orwich, Lebanon, Woodstock, Hartford and

$

Fairlee all exhibited increases of +59.2%, +62.5%, +11.8% and +28.1% respectively -H anover, Lyme, Weathersfield, Plainfield, Cornish, Thetford and Pomfret all exhibited decreases of -16.3%, -9.4%, -48.7%, -52.8%, -34.9%, -41.0% and -55.8% respectively

• Average Days on Market also varied by town: -H anover, Norwich, Woodstock, Plainfield, Cornish, Enfield, Hartford, Barnard and Fairlee all exhibited increases of +86.9%, +2885.7%, +77.3%, +263.8%, +4.9%, +3.6%, +0.5%, +58.2% and +213.2% respectively -L yme, Lebanon, Weathersfield, Pomfret, Sharon, Thetford, Bridgewater and West Fairlee all exhibited decreases -75.6%, -4.7%, -11.3%, -59.8%, -57.6%, -36.2% and -74.5% respectively FO U R S E A S O N S S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y | Q 1 2 0 1 7 M A R K E T R E P O R T | 3 4

TOTAL SALES IN UNITS Number of Sales

KEY

50

2017 Annual

+87.0% +37.0%

43

2016 Annual

-2.6%

37

37

38

27

25

23

0.0%

-38.5%

15 15

-75.0%

Note: Small bases can lead to significant percentage increases/decreases and should be used cautiously.

FO U R S E A S O N S S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y | Q 1 2 0 1 7 M A R K E T R E P O R T | 3 5

lee

2

2

0.0% 2

2

e

0.0% 4

3

gewa ter

2

Brid

11

Fairl e

7 5

West Fair

7

rd

3

Hart ford

ford

3

Thet

3

-66.7%

Shar on

+200.0%

5

Barn a

5

h

Plain field

rsfie ld

Woo dsto ck

Leba non

8

+250.0%

-40.0%

Pom fret

6 4

3

Lym e

ich Norw

Hano ver

11

6

8

Corn is

-66.7% 11

0

+33.3%

Wea the

8

13

+60.0%

0.0%

Enfie ld

+700.0%

Source: NEREN 1/1/17-3/31/17

UPPER VALLEY REPORT

AVERAGE SALE PRICE Average Sale Price

KEY

700,000

2017 Annual

-16.3%

2016 Annual

+59.2%

-55.8%

525,000 -9.4%

+62.5%

+59.0% -52.8%

350,000

-48.7%

-36.7% -4.6%

-34.9%

-23.5%

-41.0%

+5.6%

+28.1%

+11.8%

-11.7%

168k

215k

385k

244k

304k

232k

332k

316k

248k

394k

513k

227k

183k

205k

260k

153k

182k

161k

306k

199k

336k

159k

286k

147k

249k

404k

231k

243k

429k

389k

325k

517k

607k

508k

175,000

Note: Small bases can lead to significant percentage increases/decreases and should be used cautiously.

FO U R S E A S O N S S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y | Q 1 2 0 1 7 M A R K E T R E P O R T | 3 6

e Fairl e

West Fairl ee

Brid gewa ter

Shar on

rd Barn a

t Pom fre

ford Hart

ford Thet

d Enfie l

Corn ish

field Plain

rsfie ld Wea the

Woo dsto ck

Leba non

Lym e

Norw ich

Hano ver

0

Source: NEREN 1/1/17-3/31/17

AVERAGE DAYS ON MARKET Average Days on Market 700

KEY

-59.8% 684

2017 Annual 2016 Annual 525 -68.3% +263.8% 429

+58.2%

422

375

350

-74.5%

-4.7%

116

173

195

-36.2% -57.6%

185 184

125

114 110

FO U R S E A S O N S S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y | Q 1 2 0 1 7 M A R K E T R E P O R T | 37

119

104 68

Brid gewa ter

n Shar o

rd Barn a

Pom fret

ford Hart

d Enfie l

Corn ish

field Plain

rsfie ld Wea the

Note: Small bases can lead to significant percentage increases/decreases and should be used cautiously.

+213.2%

163

53

Woo dsto ck

ich Norw

Hano ver

60

on

7

0

128

136

81 85

Lym e

84

150 143

267 237

38

e

+3.6%

157

275

Fairl e

+4.9%

+0.5%

lee

209

ford

+86.9%

-11.3%

227

Leba n

175

+77.3%

246

Thet

+2885.7%

West Fair

-75.6%

Source: NEREN 1/1/17-3/31/17

VERMONT & NEW HAMPSHIRE OFFICE LOCATIONS

NORTH EAST KINGDOM

CHAMPLAIN VALLEY REGION

South Burlington 802.864.0541

GREAT NORTH WOODS REGION

Stowe 802.253.7267 St. Johnsbury 802.751.7582

Vergennes 802.877.3232

Randolph 802.565.8136

Middlebury 802.388.1000 CENTRAL VERMONT REGION

Rutland 802.774.7007

UPPER VALLEY REGION

Fairlee 802.333.4701

Manchester 802.362.4551

Mount Snow 802.464.1200

Hanover - Main St. 603.643.6400 Hanover - Lebanon St. 603.643.6070 West Lebanon 603.298.5155

Okemo 802.228.4537

Bromley 802.824.3113 SOUTHERN VERMONT REGION

WHITE MOUNTAIN REGION

New London 603.526.4050

Meredith 603.677.7012

UPPER VALLEY REGION

Wolfeboro 603.941.1000

LAKES REGION

LAKE SUNAPEE REGION

Stratton 802.297.1100

MERRIMACK VALLEY REGION MONADNOCK REGION

SEACOAST REGION

Bedford 603.413.7600