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
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 | 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#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
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 | 4
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.
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 | 5
LAKE WINNIPESAUKEE REPORT
Total Sales in Units varied by town: - Center Harbor -45.5%
- Moultonborough +0.8%
- Meredith -15.4%
- Gilford +18.1%
- Wolfeboro -1.5%
- Laconia +8.3%
- Alton -4.8%
Average Sale Price varied by town: -D ecreased in Wolfeboro and Center Harbor by -25.9% and -4.2% respectively
$
- I ncreased in Meredith, Gilford, Laconia and Moultonborough by +5.9%, +22.5%, +4.4% and +25.9% 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 | Q 3 Y T D 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
400
2017 Q3 YTD +8.3%
2016 Q3 YTD
328
300
303
+18.1%
200
189 -1.6% -15.4%
100 88
123
104
125
+0.8%
160 -4.8%
99
133
132
104 -45.5% 12
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 | 1 9
r Har Cent e
Mou
ltonb orou gh
nia Laco
rd Gilfo
Alton
oro Wolf eb
dith Mere
Note: Small bases can lead to significant percentage increases/decreases and should be used cautiously.
22
bor
12
0
Source: NEREN 1/1/17-9/30/17.
LAKE WINNIPESAUKEE REPORT
AVERAGE SALE PRICE Average Sale Price
KEY
700,000
2017 Q3 YTD 2016 Q3 YTD
-25.9%
525,000
+25.9%
+5.9%
-4.2% -11.6% +22.5%
350,000
+4.4%
463k
444k
480k
604k
239k
250k
269k
330k
417k
368k
526k
390k
465k
492k
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 | Q 3 Y T D 2 0 1 7 M A R K E T R E P O R T | 2 0
bor r Har Cent e
orou gh Mou ltonb
Laco nia
rd Gilfo
Alton
Wolf ebor o
Mere
dith
0
Source: NEREN 1/1/17-9/30/17.
AVERAGE DAYS ON MARKET Average Days on Market
KEY
-44.3%
190
2017 Q3 YTD
183
2016 Q3 YTD 142.5
-16.8% -12.5%
+9.0% -16.0%
95
100
102
-8.2%
109 100
98
90
84
112 98
125 +4.3%
104
97
93
47.5
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 | Q 3 Y T D 2 0 1 7 M A R K E T R E P O R T | 2 1
bor r Har Cent e
gh orou ltonb Mou
Laco nia
rd Gilfo
Alton
ro Wolf ebo
Mere
dith
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