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
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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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SOUTHERN NEW HAMPSHIRE REPORT
Total Sales in Units varied by town: - Amherst -6.5%
- B radford +5.5%
- W indham -16.6%
- Francestown +31.8%
- L ondonderry -19.1%
- C hester +18.8%
- Merrimack -4.6%
Average Sale Price was up across most towns:
$
- Amherst +9.4%
- Peterborough +25.0%
- Bedford +16.2%
- L ondonderry +1.6%
- Windham +7.5%
- Chester +9.0% - Merrimack +9.9%
Average Days on Market varied widely by individual town: - B edford and Peterborough increased -W indham, Chester, Merrimack, Francestown and Chester all decreased - Amherst and Londonderry were flat
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 6
TOTAL SALES IN UNITS Number of Sales
KEY
500
2017 Q3 YTD -4.6%
2016 Q3 YTD
-19.1%
375
391
376
410
+5.5%
-6.5%
187
304 271
-16.6%
217
200
181 -4.4%
125
+18.8%
Note: Small bases can lead to significant percentage increases/decreases and should be used cautiously.
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imac k Merr
Ches ter
orou gh Pete rb
Wind ham
Bedf ord
Amh erst
69
22
y
29
0
82
+31.8%
nder r
91
Lond o
87
Fran cest own
250
286
Source: NEREN 1/1/17-9/30/17.
SOUTHERN NEW HAMPSHIRE REPORT
AVERAGE SALE PRICE Average Sale Price
KEY
600,000
2017 Q3 YTD
+7.5% +16.2%
2016 Q3 YTD
450,000 +9.4%
+9.0%
+25.0%
300,000
+1.6%
+9.9%
-21.4%
250k
275k
337k
368k
296k
301k
262k
206k
223k
278k
473k
509k
411k
478k
344k
376k
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 | Q 3 Y T D 2 0 1 7 M A R K E T R E P O R T | 2 8
ack Merr im
Ches ter
ry nder Lond o
Fran cest own
gh orou Pete rb
am Wind h
rd Bedf o
Amh erst
0
Source: NEREN 1/1/17-9/30/17.
AVERAGE DAYS ON MARKET Average Days on Market
KEY
300
2017 Q3 YTD 2016 Q3 YTD
-59.7%
225
233
150
+31.3% -41.1%
75
0.0%
63
63
99
90
+29.2%
62
130 94
-4.5% 0.0%
48
53
41
63
41
66
-18.4%
38
31
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 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 1/1/17-9/30/17.
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