First Half 2017 Market Report

FIRST HALF 2017 MARKET REPORT

Knowledge is Power

W

e are proud to share our First Half 2017 Market Report for the Vermont and New Hampshire real estate markets.

In this report you will find year over year market trends

by Region/Town in order to provide you with the most updated information so you can make informed decisions

as you evaluate your real estate options.

To keep you better informed, we have recently launched a new Mobile App which will result in more traffic to your listings. You can download our new App at http://app.sir.com/sir/. Additionally, we will be rolling out a new program in the Fall that will allow our Agents to provide you with monthly market information on a local level via a Neighborhood News newsletter which will provide dynamic market conditions so you always have the most updated information.

Overall, the market remains strong, however, we are experiencing a shortage of inventory in many price points in many of our regions and towns. Mortgage rates are increasing modestly, but are still at relatively historic lows. As long as the economy continues to grow, we see the current trends continuing into the second half of 2017.

We are committed to providing you with the highest level of service and expertise to buyers and sellers at all price points.

It would be our privilege to serve you.

Staige Davis, CEO MLS#4647843

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 2

TABLE OF CONTENTS 1 Market Overview 2 Central Vermont Rutland County Washington County Lamoille County 3 Champlain Valley Chittenden County Addison County

ON THE COVER: MLS#4507633

4 Lake Sunapee Region Merrimack County Sullivan County 5 Lake Winnipesaukee Region Belknap County Carroll County 6 Northeast Kingdom Caledonia County Orleans County 7 Southern New Hampshire Hillsborough County Rockingham County 8 Southern Vermont Bennington County Windham County Windsor County Rutland County 9 Upper Valley Grafton County Orange County Windsor County Sullivan County 10 Luxury Market $600K+ $1 Million+

MLS#4644500

MLS#4644546

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 3

MARKET OVERVIEW Vermont The Vermont market is the tale of two trends. The moderately priced market is very active and considered a Seller's Market.

Inventories have shrunk and we are seeing some multiple offers.

The higher end or Luxury Market is showing signs of improving but would still be considered more of a buyers’ market.

Overall, new listings were down 6.0 percent for single-family homes and 9.1 percent for townhouse-condo properties.

Pending Sales increased 9.4 percent for single-family homes and 12.5 percent for townhouse-condo properties.

The Median Sales Price was up 5.7 percent to $222,000 for single-family homes but decreased 4.0 percent to $192,000 for townhouse-condo properties.

The general consensus is that First Half 2017 has been a good start to the year for residential real estate sales. As long as the economy continues to grow, we are optimistic this trend will continue into throughout the second half of the year.

MLS#4622616

New Hampshire New Hampshire's housing market finished First Half 2017 posting a 2.6% decrease in Single Family homes sold with a 8.0% increase in Median Sales Price to $264,000.

Condo activity reflected a 7.7% increase in closed sales with a 3.9% increase in Median Sales Price.

However, Inventory of available homes has fallen quickly, making it more of a sellers' market.

Now is a great time to sell your house if you are considering it.

MLS#4641860

Source: NH and VT Association of Realtors Source: NEREN 1/1/17 - 6/30/17

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 4

MLS#4629754

THE LUXURY MARKETS IN NEW HAMPSHIRE AND VERMONT The Luxury market was strong in New Hampshire and showed continued signs of movement during the first half of 2017 in Vermont.

However, the luxury market continues to be primarily a Buyer's market, particularly in Vermont, due to a relatively large supply of inventory and dearth of Buyers.

This has resulted in many homes staying on the market for a prolonged period of time. Pricing appropriately in this type of marketplace is critical and many Seller's have had to lower their price expectations.

Four Seasons Sotheby's International Realty continues to be the leader in the Luxury market in Vermont and New Hampshire with the most total sales above $600K and $1MM+ properties than our next closest competitors.

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 5

CENTRAL VERMONT REPORT

Total Units Sold varied by town: - Rutland City -3.2%

- Randolph +50.0%

- Rutland Town -8.0%

- Castleton +71.4%

- Brandon -14.8%

- Waterbury +25.0%

- Stowe -6.6%

Average Sale Price increased in numerous markets:

$

- Rutland City +8.8%

- Brandon +4.4%

- Rutland Town +3.3%

- Shrewsbury +58.7%

- Poultney +27.6%

Average Days on Market generally declined depending on market:

- Rutland City -3.1%

- Randolph -45.9%

- Brandon -33.3%

- Castleton -38.2%

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 6

TOTAL SALES IN UNITS Number of Sales 100

KEY

-3.2%

90

2017 First Half

93

2016 First Half

-6.6%

75

76 71

50 +25.0% -14.8%

+50.0%

23

28

27

15

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 7

Stow e

ury

don

10

n

8

Bran

16

-20.0%

Men do

13

ey

lph

8

11

+6.7%

Poul tn

14

Rand o

Shre wsbu r

d Tow n Rutla n

City Rutla nd

y

4

0

-15.4%

r

20

-50.0%

24

Proc to

25

ton

23

Cast le

25

35

+71.4%

30

Wate rb

-8.0%

Source: NEREN 1/1/17-6/30/17

CENTRAL VERMONT REPORT

AVERAGE SALE PRICE Average Sale Price

KEY

500,000

-2.8%

2017 First Half 2016 First Half 375,000 -1.6%

+58.7%

250,000

+3.3%

-25.1% -6.0%

-3.4% +27.6% -19.1%

+8.8%

+4.4%

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 8

458k

445k

Stow e

308k

303k

ury Wate rb

130k

135k

n Bran do

223k

167k

don Men

132k

169k

ey Poul tn

146k

118k

r Proc to

195k

188k

leton Cast

194k

182k

lph Rand o

151k

239k

Shre wsbu r

y

193k

122k

200k

d Tow n Rutla n

Rutla n

d Cit y

0

132k

125,000

Source: NEREN 1/1/17-6/30/17

AVERAGE DAYS ON MARKET Average Days on Market

KEY

400

2017 First Half 2016 First Half -45.9%

300 +80.9%

325 +0.8%

292 -38.2%

-74.0%

237 200

-23.7%

266 264

232

228

223

+57.8%

+5.5%

248 220

-1.0%

243 -33.3%

-3.1%

208 210

177

158 163

158 131

100

154

141 118

58

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 9

Stow e

Wate rbur y

don Bran

don Men

ey Poul tn

r Proc to

leton Cast

lph Rand o

Shre wsbu r

n d Tow Rutla n

d Cit y Rutla n

y

0

0

Source: NEREN 1/1/17-6/30/17

CHAMPLAIN VALLEY REPORT

Total Sales in Units decreased in many markets:

- Essex -19.7%

- Shelburne -35.6%

- Burlington -3.2%

- Williston -7.4%

- Winooski -19.4%

- Richmond -27.0%

Average Sale Price increased significantly in many towns:

$

- Charlotte +12.9%

- Hinesburg +12.6%

- Burlington +7.1%

- Vergennes +45.2%

- Colchester +6.8%

- Middlebury +24.2%

Average Days on Market varied widely by individual town: -S outh Burlington, Charlotte Colchester, Essex, Williston and Middlebury increased by 7.9%, 22.4%, 11.7%, 22.7%, 44.4% and 94.5% respectively -B urlington, Winooski, Richmond, Shelburne, Ferrisburg and Vergennes decreased by 17.2%, 16.7%, 25.8%, 50.3%, 33.0% and 20.7% respectively

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 1 0

TOTAL SALES IN UNITS Number of Sales

+4.2% 148

135

KEY

-19.7%

180

150

2017 First Half

173

-3.2% 155

2016 First Half

142

139

0.0% 110 110

-7.4%

90 -35.6%

24

29

+40.0% -75.0% +16.7% +33.3% -81.8%

Midd lebu ry

h burg Ferri s

n Willis to

urne Shel b

d mon Rich

urg Hine sb

Esse x

Colc hest er

tte Char lo

ki Wino os

gton Burli n

So. B urlin gton

Addi son

7

0

5

1

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 1 1

4

7

6

4

3

2

28 29

+36.4% 15

11

11

Verg enne s

18

ho

27 20

Jeric

24

Have n

28 19

-3.4%

New

29

37

Shor eham

36

50

-25.0%

38

Brid port

+20.0%

+72.4%

59

-27.0% -32.1%

81

Walt ham

-19.4%

45

75

Source: NEREN 1/1/17-6/30/17

CHAMPLAIN VALLEY REPORT

AVERAGE SALE PRICE Average Sale Price

KEY

600,000

2017 First Half

+12.9%

-35.7%

-43.4%

2016 First Half 450,000 +7.1%

+4.1%

-.02%

+6.8%

300,000

+24.6% -32.2%

+0.1% +12.6%

-2.2%

-19.9%

+24.2%

+46.7%

-9.9%

-32.9%

-20.1% +45.2%

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 1 2

196k 135k

Verg enne s

359k 288k

Jeric ho

196k 246k

n Have New

252k 172k

Shor eham

239k 121k

port Brid

230k 287k

m Walt ha

291k 514k

Addi son

265k 214k

ry lebu Midd

327k 247k

h burg Ferri s

348k 334k

n Willis to

346k 537k

e burn Shel

215k 238k

d mon Rich

284k 252k

Hine sbur g

275k 274k

Esse x

311k 291k

este r Colc h

516k 457k

lotte Char

236k 241k

Wino oski

350k 327k

n ngto Burli

So. B ur

lingt on

0

315k 316k

150,000

Source: NEREN 1/1/17-6/30/17

AVERAGE DAYS ON MARKET Average Days on Market

KEY

500

2017 First Half -73.0%

2016 First Half

403

375

+44.3% 352

-43.2% 285

-33.0%

250

+22.4%

125 +7.9% 68 63

-16.7% -17.2%

+11.7%

142 116

115

+22.7% 103 81

48

58

50

60

+5.4%

181

-25.8%

92

90

89

244

196

+44.4%

154

+94.5%

-9.2% 109

107

90

66

-20.7%

162

+11.5%

142

130

120 97

-27.6%

230

-50.3%

120

109

97

135 107

87

55

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 1 3

Verg enne s

ho Jeric

New Have n

Shor eham

port Brid

Walt ham

Addi son

ry lebu Midd

burg h Ferri s

n Willis to

Shel

burn

e

d mon Rich

Hine sbur g

Esse x

Colc hest er

Char lotte

Wino oski

ngto n Burli

So. B ur

lingt on

0

Source: NEREN 1/1/17-6/30/17

LAKE SUNAPEE REPORT

Total Sales in Units varied by market, up in some and down in others: - Newport -22.9%

- Sunapee +16.1%

- New London -7.3%

- Newbury +6.5%

Average Sale Price varied depending on specific towns:

$

- Newbury -4.6%

- Sunapee +16.8%

- New London -2.1%

- Grantham +15.7%

- Newport -9.7%

- Andover +30.8%

Average Days on Market varied widely by individual town: -N ewport, New London, Andover, Bradford and Sutton exhibited fewer days on market -S unapee, Springfield, Wilmot and Newbury all increased.

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 14

TOTAL SALES IN UNITS

Number of Sales

KEY

60

-11.7%

-7.3%

55

-22.9%

60

2017 First Half 53

2016 First Half

51

48

45

+16.1%

37

+6.5%

36

30

33

31

-12.5%

-21.7%

23 18

15

-20.0% +220.0%

20 16

24 21

22 19

16

-33.3%

12

0.0%

5

31

-33.3%

8

5

5

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 1 5

bury New

t Wilm o

r Warn e

Sutt on

gfiel d Sprin

tham Gran

en Gosh

ford Brad

Ando ver

n Lond o New

pee Suna

New

port

0

Source: NEREN 1/1/17-6/30/17

LAKE SUNAPEE REPORT

AVERAGE SALE PRICE Average Sale Price +16.8%

500,000

KEY 2017 First Half 2016 First Half

-2.1%

375,000

-4.6%

-4.6% +7.4%

-24.7%

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 1 6

341k

325k

bury New

233k

176k

t Wilm o

206k

221k

r Warn e

254k

242k

Sutt on

236k

193k

Sprin gfiel d

208k

242k

tham Gran

236k

193k

Gosh en

241k

219k

Brad ford

144k

188k

Ando ver

360k

353k

ndon New Lo

404k

472k

pee Suna

New

108k

98k

-9.7%

port

0

-18.0%

-60.7%

+30.8%

125,000

+15.7%

-9.1%

250,000

Source: NEREN 1/1/17-6/30/17

AVERAGE DAYS ON MARKET Average Days on Market

KEY

+130.4%

300

2017 First Half 2016 First Half

288 -30.7%

-40.6%

225

-16.1%

187

150 156

135

121

233

180 -21.7%

138

129

249

-7.8%

219

-26.7% -3.8%

161

150

244

217

+54.5%

+29.0%

-37.8%

202

193

169 +9.6%

132

114

108

145 125

104

75

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 1 7

ry New bu

t Wilm o

r Warn e

Sutt on

d gfiel Sprin

tham Gran

en Gosh

Brad ford

Ando ver

n Lond o New

pee Suna

New

port

0

Source: NEREN 1/1/17-6/30/17

LAKE WINNIPESAUKEE REPORT

Total Sales in Units was down overall, but varied by town: - Center Harbor -28.6%

- Alton +15.9%

- Meredith -9.7%

- Gilford +5.1%

- Wolfeboro -11.6%

- Laconia +8.5%

Average Sale Price varied by town: -D ecreased in Wolfeboro and Center Harbor by -26.0% and -35.5% respectively

$

- I ncreased slightly in Meredith, Alton, Gilford, Laconia and Moultonborough by +16.2%, +1.3%, +27.2%, +15.5% and +36.7% respectively

Average Days on Market also varied by town: - Alton and Center Harbor increased -M eredith, Wolfeboro, Laconia, Gilford and Moultonborough decreased

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 1 8

TOTAL SALES IN UNITS Number of Sales

KEY

300

2017 First Half 2016 First Half

+8.5%

225

218 201 150

+5.1% -11.6% -9.7%

75 65

72

86

76

123

117

+11.7%

+15.9%

73

86

77

63 -28.6%

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 1 9

14

r Har Cent e

gh orou Mou

ltonb

nia Laco

rd Gilfo

Alton

oro Wolf eb

Mere

dith

0

bor

10

Source: NEREN 1/1/17-6/30/17

LAKE WINNIPESAUKEE REPORT

AVERAGE SALE PRICE Average Sale Price

KEY

700,000 -35.5%

2017 First Half 2016 First Half 525,000

+36.7%

+16.2% -26.0%

+1.3%

350,000

+27.2% +15.5%

625k

403k

389k

531k

200k

231k

223k

283k

386k

391k

379k

281k

404k

469k

175,000

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 2 0

or Harb Cent er

orou gh Mou ltonb

nia Laco

Gilfo rd

Alton

oro Wolf eb

Mere dith

0

Source: NEREN 1/1/17-6/30/17

AVERAGE DAYS ON MARKET Average Days on Market

KEY

-32.7%

220

-33.6%

2017 First Half

211

211

+37.1%

196

2016 First Half 165 +15.7%

-35.8%

134

142

140

-1.5%

133 121

110

-6.5%

143

140

135 116

124

86 55

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 2 1

bor r Har Cent e

orou gh Mou

ltonb

nia Laco

rd Gilfo

Alton

oro Wolf eb

Mere

dith

0

Source: NEREN 1/1/17-6/30/17

NORTHEAST KINGDOM REPORT

Total Sales in Units are up in most towns: - St. Johnsbury +46.4% - Lyndon +64.7% - Burke +50.0%

Average Sale Price varied by town: - Greensboro +49.3%

$

- St. Johnsbury +39.3% - Lyndon -19.0% - Burke -36.8%

Average Days on Market increased for a majority of towns: - S t. Johnsbury decreased -G reensboro, Orleans, Lyndon and Burke exhibited an increase

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 2 2

TOTAL SALES IN UNITS Number of Sales

KEY

50

2017 First Half +46.4

2016 First Half

41

37.5 +64.7%

28

25

28

+50.0%

17

15

12.5 -16.7%

0.0%

10 6

5

6

6

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 2 3

ohns bury St. J

s Orle an

n Lynd o

Burk e

Gree

nsbo

ro

0

Source: NEREN 1/1/17-6/30/17

NORTHEAST KINGDOM REPORT

AVERAGE SALE PRICE Average Sale Price

KEY

400,000

2017 First Half 2016 First Half

+49.3

300,000 -36.8%

200,000 -19.0%

+39.3% +70.8%

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 2 4

96k

134k

bury ohns St . J

Orle ans

n Lynd o

Burk e

Gree

nsbo ro

0

58k

99k

138k

112k

234k

148k

202k

301k

100,000

Source: NEREN 1/1/17-6/30/17

AVERAGE DAYS ON MARKET Average Days on Market

KEY

500

2017 First Half +81.7%

375

2016 First Half

407

-22.7%

250 224

+8.3%

182

+37.1%

168

225

181

174

+49.4%

125

132

127 85

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 2 5

bury ohns St. J

s Orle an

n Lynd o

Burk e

Gree

nsbo

ro

0

Source: NEREN 1/1/17-6/30/17

SOUTHERN NEW HAMPSHIRE REPORT

Total Sales in Units varied by town: - Amherst -6.5%

- B radford +1.1%

- W indham -16.4%

- Francestown +7.0%

- L ondonderry -24.3%

- C hester +2.0%

- Merrimack -5.7%

Average Sale Price was up across most towns:

$

- Amherst +7.5%

- Peterborough +33.0%

- Bedford +17.7%

- L ondonderry +3.8%

- Windham +12.9%

- Merrimack +7.1%

Average Days on Market varied widely by individual town: -B edford, Peterborough, Londonderry and Chester all increased -A mherst, Windham, Merrimack and Francestown all decreased

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 2 6

TOTAL SALES IN UNITS Number of Sales

KEY

300

2017 First Half

-5.7% -24.3%

2016 First Half

261

247

225

246

+1.1%

178

-16.4%

-6.5%

134

124

112 +7.0% +7.0%

Fran cest own

gh orou Pete rb

am Wind h

Bedf ord

Amh erst

50

14

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 2 7

k

26 0

51

Merr imac

57

+2.0%

y

61

nder r

75

Ches ter

116

Lond o

150

187

176

Source: NEREN 1/1/17-6/30/17

SOUTHERN NEW HAMPSHIRE REPORT

AVERAGE SALE PRICE Average Sale Price

KEY

600,000

2017 First Half

+12.9% +17.7%

2016 First Half

450,000 +7.0%

+7.5% +3.8%

+33.0%

300,000

+7.1% -13.1%

241k

258k

338k

362k

278k

288k

218k

189k

201k

268k

448k

506k

407k

479k

331k

356k

150,000

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 2 8

k imac Merr

Ches ter

y nder r Lond o

Fran cest own

roug h Pete rbo

Wind ham

Bedf ord

Amh erst

0

Source: NEREN 1/1/17-6/30/17

AVERAGE DAYS ON MARKET Average Days on Market

KEY

300

2017 First Half

-36.9%

2016 First Half

260

225

+45.5%

150

164

147 -15.8%

75 64

76

+27.9%

-36.2%

68

+13.8%

101

94

87

66

60

58

+4.4%

71

68

-10.9%

46

41

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 2 9

k imac Merr

Ches ter

ry nder Lond o

Fran cest own

gh orou Pete rb

am Wind h

rd Bedf o

Amh

erst

0

Source: NEREN 1/1/17-6/30/17

SOUTHERN VERMONT REPORT

Total Sales in Units increased in most towns with the following showing significant gains: -D orset, Manchester, Marlboro, Londonderry, and Stratton exhibited substantial increases by +4.5%, +26.5%, +33.3%, +16.7% and +16.7% respectively -D over, Shrewsbury and Ludlow all decreased by -20.5%, -50.0% and -17.7% respectively

Average Sale Price varied by towns:

$

-D orset, Manchester, Wilmington, Londonderry and Winhall showed significant increases of +9.1%, +3.5%, +1.7%, +64.1% and +10.2% respectively -S tratton and Ludlow showed significant declines of -34.3% and -22.2% respectively

Average Days on Market varied widely by individual town: -D orset, Manchester, Dover, Stratton and Ludlow exhibited increases of +23.0%, +26.8%, +65.8%, +32.1% and +18.2% respectively -W ilmington, Wardsboro, Winhall, Peru and Chester exhibited decreases of -3.6%, -35.6%, -10.6%, -33.1%, and -19.6% respectively

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 3 0

TOTAL SALES IN UNITS

Number of Sales

KEY

-20.5%

90

88

67.5

2017 First Half

-17.7%

2016 First Half

79

70 65

+26.5%

44 44

+25.0% 15

13

14

12

8

-50.0%

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 3 1

rsfie ld

22 22

14

8

4

Wea the

uth Plym o

Ludl ow

tton

ll Winh a

ry

3

+133.3%

21

6

Ches ter

+62.5%

12

nder

Marl

Dove r

Wilm ingto n

Man

ches ter

t Dors e

boro

4

0

13

24

18

ndis h

+33.3%

21

Peru

+8.3%

0.0%

+50.0%

28

Cave

22

+16.7%

y

25 25

Lond o

23

+16.7%

0.0%

Shre wsbu r

34

+4.5%

Stra

43

22.5

0.0%

Ward sbor o

45

Source: NEREN 1/1/17-6/30/17

SOUTHERN VERMONT REPORT

AVERAGE SALE PRICE Average Sale Price

KEY

700,000

-34.3%

2017 First Half 2016 First Half 525,000 +9.1% +10.2%

-22.2%

+3.5%

350,000

+1.7%

+64.1%

-20.6%

+0.1%

+58.7% +20.0%

+6.0%

175,000

-26.5%

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 3 2

254k

196k

Ches ter

202k

242k

Peru

151k

239

y Shre wsbu r

192k

167k

141k

rsfie ld Wea the

Cave ndi

sh

149k

272k

216k

Plym outh

373k

290k

Ludl ow

630k

414k

tton Stra

348k

383k

ll Winh a

167k

275k

ry Lond onde r

116k

133k

ro Ward sbo

183k

194k

boro Marl

238k

239k

Dove r

280k

285k

gton Wilm in

337k

348k

ches ter Man

Dors e

403k

439k

+14.3%

t

0

-10.5%

-22.8%

Source: NEREN 1/1/17-6/30/17

KEY

AVERAGE DAYS ON MARKET

2017 First Half

Average Days on Market

2016 First Half 400

+89.0% -10.6% -35.6%

+26.8% +23.0%

300

331

337

+68.8%

358

-0.3% 309 310

300

350

+35.3%

261 244

185

192 173

372

-33.1%

341

308

255

+68.3%

378

296

+32.1%

-3.6%

-68.0%

320

292

200

+18.2%

-19.6% 276

-74.0%

252

223

217 193

222 206

200

170

119

100

101 58

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 3 3

Ches ter

Peru

y Shre wsbu r

rsfie ld Wea the

ndis h Cave

outh Plym

ow Ludl

tton Stra

ll Winh a

ry nder Lond o

boro Ward s

boro Marl

Dove r

Wilm ingto n

Man ches ter

Dors e

t

0

Source: NEREN 1/1/17-6/30/17

UPPER VALLEY REPORT Total Sales in Units varies by individual town: -N orwich, Lebanon and Woodstock increased significantly by +126.7%, +10.1% and +62.1% respectively - H artford decreased by -0.8% - Hanover decreased by -15.3%

• Average Sale Price also varied by town: -H anover, Norwich, Woodstock, Hartford and

$

Fairlee all exhibited increases of +6.8%, +9.6%, +85.7%, +1.3% and +18.3% respectively -L ebanon, Lyme, Weathersfield, Cornish, Thetford and West Fairlee all exhibited decreases of -6.3, -26.2%, -26.5%, -12.7%, -8.5% and -73.0% respectively

• Average Days on Market also varied by town: -H anover, Norwich, Woodstock, Lebanon, Hartford and Fairlee all exhibited increases of +18.6%, +43.8%, +11.1%, +4.2%, +24.1%, and +77.9% respectively -L yme, Weathersfield, Plainfield, Cornish, Sharon and West Fairlee all exhibited decreases -31.8%, -68.0%, -20.4%, -29.5%, -22.1% and -84.2% respectively

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 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

140

2017 First Half

-0.8%

2016 First Half

120 121

+10.1%

105

98 89

-15.3% +62.1% 47

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 3 5

+66.7% +66.7% 5

3

5

3

e

5

Fairl e

11

West Fairl ee

9

gewa ter

9

+120.0%

Brid

8

n

11

0.0%

Shar o

4

Pom fret

6

+37.5%

rd

12

4

+50.0%

18 17

Barn a

18

+5.9%

rd

field

Woo dsto ck

6

32

Hart fo

10

+50.0%

28

ford

14

on

ich Norw

Hano ver

0

Lym e

6

21

Leba n

15

+50.0%

Thet

-40.0%

+50.0%

h

29

Corn is

34

-12.5%

d

+126.7%

Plain

35

Enfie l

59 50

Wea thers field

70

Source: NEREN 1/1/17-6/30/17

UPPER VALLEY REPORT

AVERAGE SALE PRICE Average Sale Price

KEY

800,000

-73.0%

2017 First Half 2016 First Half

+6.8%

600,000

+9.6%

+85.7%

-26.2%

+20.2%

400,000

+29.6% +77.2% -12.7%

-6.3% -26.5% +43.6%

-5.9%

-8.5%

+1.3%

+18.3%

+2.6%

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 3 6

205k

243k

e Fairl e

780k

211k

lee West Fair

310k

372k

Brid gewa ter

178k

315k

Shar on

249k

322k

rd Barn a

221k

227k

t Pom fre

200k

202k

rd Hart fo

221k

203k

ford Thet

194k

182k

Enfie ld

255k

223k

h Corn is

142k

203k

eld Plain fi

192k

290k

141k

rsfie ld Wea the

538k

ck Woo dsto

255k

239k

Leba non

533k

393k

Lym e

475k

520k

ich Norw

573k

Hano ver

0

612k

200,000

Source: NEREN 1/1/17-6/30/17

AVERAGE DAYS ON MARKET Average Days on Market 400

KEY

-7.2%

-68.0%

2017 First Half

372

377

2016 First Half

+11.0%

300

350

-84.2%

302

273

272

+11.1%

+2.6%

200

+43.8% +18.6%

100

-31.8%

-20.4%

176

152 112

97

-29.5%

198

170

161

115

220

116

119

+4.2% 74

121

+31.0% +33.1%

124

+77.9%

201 196

169

163 133

118

116

-22.1%

165

157

152

+24.1%

127 95

71 43

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

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 37

e Fairl e

lee West Fair

Brid gewa ter

n Shar o

rd Barn a

Pom fret

ford Hart

ford Thet

d Enfie l

h Corn is

Plain field

Wea thers field

Woo dsto ck

Leba non

ich Norw

Hano ver

0

Lym e

7

Source: NEREN 1/1/17-6/30/17

LUXURY REPORT

$600k+ Vermont & New Hampshire FSSIR is #1 in Total Units sold in Vermont & New Hampshire by almost double our next closest competitor

FSSIR has the highest total sales at $336,863,000

$

MLS#4646347

Luxury tends to have higher Average Days on Market

MLS#4632090

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 3 8

TOTAL SALES IN UNITS 350

KEY FSSIR

300

309

250

Competitor A Competitor B

200

Competitor C Competitor D

150

158

144

135

100 98 50

0 Source: Trendgraphix Data 1/1/17-6/30/17

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 3 9

LUXURY REPORT

$600k+ Vermont & New Hampshire

TOTAL SALES IN $000 400m

KEY

336,863 300m

FSSIR Competitor A Competitor B Competitor C

200m

Competitor D

141,520

144,958

144,878

100m 76,989

0 Source: Trendgraphix Data 1/1/17-6/30/17

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 4 0

AVERAGE DAYS ON MARKET 250

KEY FSSIR

200

215

Competitor A Competitor B Competitor C

150 150

Competitor D

154 142

100 91 50

0 Source: Trendgraphix Data 1/1/17-6/30/17

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 4 1

LUXURY REPORT

$1 Million+ Vermont & New Hampshire MLS#4622913

FSSIR is #1 in Vermont & New Hampshire combined in total units sold by more than 2x our closest competitor

FSSIR is also the leader in Total Sales Volume

$ Luxury tends to have higher Average Days on Market

MLS#4628407

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 4 2

TOTAL SALES IN UNITS 120

KEY FSSIR

100

105

Competitor A Competitor B

80

Competitor C Competitor D

60

40

45

44 33

20

29

0 Source: Trendgraphix Data 1/1/17-6/30/17

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 4 3

LUXURY REPORT

$1 Million+ Vermont & New Hampshire

TOTAL SALES IN $000 20m

KEY FSSIR Competitor A

183,869 15m

Competitor B Competitor C Competitor D

10m

75,929

71,761

5m 49,309

52,880

0 Source: Trendgraphix Data 1/1/17-6/30/17

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 4 4

AVERAGE DAYS ON MARKET 400

300 288

KEY FSSIR Competitor A

200

220

217

Competitor B Competitor C Competitor D

155 125

100

0 Source: Trendgraphix Data 1/1/17-6/30/17

V I S I T FO U R S E A S O N S S I R .C O M | F I R ST H A L F 2 0 1 7 M A R K E T R E P O R T | 4 5

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