3Q YTD 2017 Market Report - Southern Vermont Edition

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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SOUTHERN VERMONT REPORT

Total Sales in Units increased in most towns with the following showing significant gains: -D orset, Manchester, Londonderry, and Stratton exhibited substantial increases by +10.0%, +93.3%, +14.8% and +2.8% respectively -D over, Wilmington, Shrewsbury and Ludlow all decreased by -8.5%, -20.3%, -58.3% and -20.4% respectively

Average Sale Price varied by towns:

$

-M anchester, Wilmington, Dover, Londonderry and Winhall showed increases of +4.7%, +6.0%, +10.0%, +41.9% and +14.3% respectively -S tratton and Ludlow showed significant declines of -31.5% and -22.7% respectively

Average Days on Market varied widely by individual town: -D orset, Manchester, Dover, Stratton and Plymouth exhibited increases of +22.9%, +21.7%, +59.4%, +42.1% and +8.4% respectively -W ilmington, Wardsboro, Winhall, Peru, Londonderry, Ludlow and Chester exhibited decreases of -8.5%, -8.7%, -4.7%, -22.3%, -27.8%, -7.2% and -32.9% respectively

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TOTAL SALES IN UNITS

Number of Sales

KEY

-8.5%

120

118 108

2017 Q3 YTD

-20.4%

2016 Q3 YTD

103

90 82

-20.3% 69 55

-5.1%

+10.0% -23.5% -40.0% 13

37

37

+12.9% +61.1%

36

35

+20.0%

27

18

17

15

+14.3% 16

29 18

14

-58.3% 12

31

+15.4% 15

13

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 | 3 1

Ches ter

Peru

Shre wsbu ry

rsfie ld Wea the

h Cave ndis

outh Plym

Ludl ow

tton

boro

5

Ward s

Marl bo

Dove r

gton Wilm in

este r Man ch

Dors et

0

ro

6

10

31

39

+2.8%

Stra

30

ry

30

nder

33

Lond o

30

+14.8%

ll

58

Winh a

+93.3%

60

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

SOUTHERN VERMONT REPORT

AVERAGE SALE PRICE Average Sale Price

KEY

700,000

-31.5%

2017 Q3 YTD 2016 Q3 YTD 525,000

-13.2% +14.3%

+56.5%

-22.7%

+4.7%

350,000

+6.0%

+10.0%

+43.4%

+41.9%

+17.6%

-14.8% +11.6%

-13.6%

-13.3%

+14.0%

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

232k

201k

Ches ter

220k

259k

Peru

209k

300k

y Shre wsbu r

225k

194k

Wea thers field

184k

205k

h ndis Cave

261k

222k

outh Plym

378k

292k

ow Ludl

648k

444k

tton Stra

358k

409k

Winh all

196k

277k

ry nder Lond o

147k

168k

boro Ward s

255k

399k

boro Marl

249k

274k

Dove r

273k

290k

ton Wilm ing

331k

347k

ches ter

494k

Man

Dors e

t

0

429k

175,000

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

KEY

AVERAGE DAYS ON MARKET

2017 Q3 YTD

Average Days on Market

2016 Q3 YTD 400

-7.2% -4.7% -27.8%

+59.4% +21.7%

300 +22.9%

298

299

280

320

-8.7%

252 230

200

305

205

348

+42.1%

323

+8.4%

-40.9%

284

270

269

262

242 221

-8.5% 162

177

+26.6% 195

190

186 154

-2.6%

-32.9%

247

246

-67.2%

216

187

-22.3%

192 165

159

113 116

100

61

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 | 3 3

Ches ter

Peru

Shre wsbu ry

Wea thers field

sh Cave ndi

outh Plym

Ludl ow

Stra tton

ll Winh a

nder ry Lond o

Ward sbor o

boro Marl

Dove r

Wilm ingto n

Man ches ter

Dors e

t

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