Q3 YTD 2017 Market Report - Central Vermont Region

VERMONT & NEW HAMPSHIRE Q3 YTD 20 17 MAR KE T R E P O RT

KNOWLEDGE IS POWER

W

e are proud to share our Q3 YTD 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.

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 throughout the remainder 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#4650955

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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#4663620

4 LAKE SUNAPEE REGION Merrimack County Sullivan County 5 LAKE WINNIPESAUKEE REGION Belknap County Carroll County

MLS#4650795

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#4643370

V I S I T FO U R S E A S O N S S I R .C O M | Q 3 Y T D 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.

The Average Sales Price was up 5.2%to $264,319 for singlefamily homes but decreased 2.1% to $228,584 for townhousecondo properties.

We expect the current market trends to continue through the end of the year.

Overall, new listings were down 4.6% for single-family homes and 5.7% for townhouse-condo properties. Pending Sales increased 7.8% for single-family homes and 8.9 percent for townhouse-condo properties.

MLS#4644546

New Hampshire New Hampshire's housing market finished the first three quarters of 2017 posting a modest 0.3% decrease in Single Family homes sold with a 6.0% increase in Median Sales Price to $265,000.

Condo activity reflected a 9.9% increase in closed sales with a 3.3% increase in Median Sales Price to $190,000.

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#4662553

Source: NH and VT Association of Realtors Source: NEREN 1/1/17 - 9/30/17

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MLS#4649529

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 three quarters 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.

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CENTRAL VERMONT REPORT

Total Units Sold varied by town: - Rutland City -1.7%

- Randolph +28.6%

- Rutland Town -24.4%

- Castleton +37.9%

- Brandon -15.4%

- Waterbury +8.2%

- Stowe -0.9%

Average Sale Price increased in numerous markets:

$

- Rutland City +11.2%

- Randolph +6.6%

- Castleton +5.4%

- Shrewsbury +43.4%

- Poultney +12.9%

Average Days on Market varied depending on market:

- Rutland City +11.4%

- Shrewsbury -67.2%

- Rutland Town +15.3%

- Proctor -31.4%

- Castleton +40.3%

- Poultney -24.6%

- Stowe +9.8%

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TOTAL SALES IN UNITS Number of Sales -1.7%

120

KEY

118 120

-0.9%

2017 Q3 YTD

109 110

2016 Q3 YTD 90

60

+8.2% +28.6% +37.9%

40 0.0%

18

don

ey Poul tn

r Proc to

Cast

leton

12

lph

12

-14.3%

18

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 | Q 3 Y T D 2 0 1 7 M A R K E T R E P O R T | 7

14

Stow e

22

33

ury

-13.6%

19

Rand o

Shre wsbu r

n d Tow Rutla n

Rutla n

d Cit y

0

y

5

49

39 29

-58.3%

53

Wate rb

35

34

30

-15.4%

don

45

Men

45

Bran

-24.4%

Source: NEREN 1/1/17-9/30/17.

CENTRAL VERMONT REPORT

AVERAGE SALE PRICE Average Sale Price

KEY

600,000

-6.5%

2017 Q3 YTD 2016 Q3 YTD 450,000

-15.1%

+43.4%

300,000 -3.7%

+6.6%

+12.9%

+11.2%

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 | Q 3 Y T D 2 0 1 7 M A R K E T R E P O R T | 8

553k

517k

Stow e

388k

330k

ry Wate rbu

168k

140k

don Bran

263k

165k

don Men

158k

178k

ey Poul tn

131k

129k

r Proc to

231k

243k

ton Cast le

190k

203k

lph Rand o

209k

300k

y Shre wsbu r

210k

202k

n d Tow Rutla n

133k

148k

d Cit y Rutla n

-16.7%

-1.3%

150,000

0

-37.1%

+5.4%

Source: NEREN 1/1/17-9/30/17.

AVERAGE DAYS ON MARKET Average Days on Market

KEY

400

2017 Q3 YTD

-24.6%

2016 Q3 YTD

342

300 -45.6%

-47.3%

252 +15.3%

200 +11.4%

156

+40.3%

-67.2%

157

140

139

137

243

+9.8% -20.5%

207

195

186

181

-31.4%

258

212

195 155

142

193 -15.9%

128

100

126 106

61

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

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Stow e

ury Wate rb

don Bran

don Men

ey Poul tn

r Proc to

leton Cast

ph Rand ol

Shre wsbu r

Rutla nd To wn

City Rutla nd

y

0

0

Source: NEREN 1/1/17-9/30/17.

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