Q1 2017 MARKET REPORT
UPPER VALLEY
Knowledge is Power We are proud to share with you our Vermont and New Hampshire Q1 2017 Market Report. Our focus is to ensure that our clients (whether selling or purchasing real estate) have comprehensive information in order to make informed decisions. Ultimately, your success is ours.
I
n our first quarter report, you will find year over year market trends. Any one of our Associates can produce a customized report by price, region, and across multiple town upon request. The Market is strong, but we are experiencing a shortage of inventory in some price ranges.
I remember my first mortgage was 18.5%. The slight increase we have experienced since the historic lows of the last few years is minor. We hope you find our Q1 Market Report for 2017 helpful as you evaluate your real estate options. At Four Seasons Sotheby’s International Realty, we are committed to providing the highest level of service and expertise to buyers and sellers alike at all price points. You can find us on the web at www.FourSeasonsSIR.com or download our terrific app (Real Estate VT NH). Sixty percent of real estate web traffic is now viewed on a mobile platform. It will be our privilege to serve you.
Staige Davis, CEO
MLS#4622913
FO U R S E A S O N S S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y | Q 1 2 0 1 7 M A R K E T R E P O R T | 2
UPPER VALLEY REPORT Total Sales in Units varies by individual town: -L ebanon and Woodstock increased significantly by +37.0% and +87.0% respectively - H artford reflected a modest decrease of -2.6% - Hanover was flat
• Average Sale Price also varied by town: -N orwich, Lebanon, Woodstock, Hartford and
$
Fairlee all exhibited increases of +59.2%, +62.5%, +11.8% and +28.1% respectively -H anover, Lyme, Weathersfield, Plainfield, Cornish, Thetford and Pomfret all exhibited decreases of -16.3%, -9.4%, -48.7%, -52.8%, -34.9%, -41.0% and -55.8% respectively
• Average Days on Market also varied by town: -H anover, Norwich, Woodstock, Plainfield, Cornish, Enfield, Hartford, Barnard and Fairlee all exhibited increases of +86.9%, +2885.7%, +77.3%, +263.8%, +4.9%, +3.6%, +0.5%, +58.2% and +213.2% respectively -L yme, Lebanon, Weathersfield, Pomfret, Sharon, Thetford, Bridgewater and West Fairlee all exhibited decreases -75.6%, -4.7%, -11.3%, -59.8%, -57.6%, -36.2% and -74.5% respectively FO U R S E A S O N S S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y | Q 1 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
50
2017 Annual
+87.0% +37.0%
43
2016 Annual
-2.6%
37
37
38
27
25
23
0.0%
-38.5%
15 15
-75.0%
Note: Small bases can lead to significant percentage increases/decreases and should be used cautiously.
FO U R S E A S O N S S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y | Q 1 2 0 1 7 M A R K E T R E P O R T | 3 5
lee
2
2
0.0% 2
2
e
0.0% 4
3
gewa ter
2
Brid
11
Fairl e
7 5
West Fair
7
rd
3
Hart ford
ford
3
Thet
3
-66.7%
Shar on
+200.0%
5
Barn a
5
h
Plain field
rsfie ld
Woo dsto ck
Leba non
8
+250.0%
-40.0%
Pom fret
6 4
3
Lym e
ich Norw
Hano ver
11
6
8
Corn is
-66.7% 11
0
+33.3%
Wea the
8
13
+60.0%
0.0%
Enfie ld
+700.0%
Source: NEREN 1/1/17-3/31/17
UPPER VALLEY REPORT
AVERAGE SALE PRICE Average Sale Price
KEY
700,000
2017 Annual
-16.3%
2016 Annual
+59.2%
-55.8%
525,000 -9.4%
+62.5%
+59.0% -52.8%
350,000
-48.7%
-36.7% -4.6%
-34.9%
-23.5%
-41.0%
+5.6%
+28.1%
+11.8%
-11.7%
168k
215k
385k
244k
304k
232k
332k
316k
248k
394k
513k
227k
183k
205k
260k
153k
182k
161k
306k
199k
336k
159k
286k
147k
249k
404k
231k
243k
429k
389k
325k
517k
607k
508k
175,000
Note: Small bases can lead to significant percentage increases/decreases and should be used cautiously.
FO U R S E A S O N S S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y | Q 1 2 0 1 7 M A R K E T R E P O R T | 3 6
e Fairl e
West Fairl ee
Brid gewa ter
Shar on
rd Barn a
t Pom fre
ford Hart
ford Thet
d Enfie l
Corn ish
field Plain
rsfie ld Wea the
Woo dsto ck
Leba non
Lym e
Norw ich
Hano ver
0
Source: NEREN 1/1/17-3/31/17
AVERAGE DAYS ON MARKET Average Days on Market 700
KEY
-59.8% 684
2017 Annual 2016 Annual 525 -68.3% +263.8% 429
+58.2%
422
375
350
-74.5%
-4.7%
116
173
195
-36.2% -57.6%
185 184
125
114 110
FO U R S E A S O N S S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y | Q 1 2 0 1 7 M A R K E T R E P O R T | 37
119
104 68
Brid gewa ter
n Shar o
rd Barn a
Pom fret
ford Hart
d Enfie l
Corn ish
field Plain
rsfie ld Wea the
Note: Small bases can lead to significant percentage increases/decreases and should be used cautiously.
+213.2%
163
53
Woo dsto ck
ich Norw
Hano ver
60
on
7
0
128
136
81 85
Lym e
84
150 143
267 237
38
e
+3.6%
157
275
Fairl e
+4.9%
+0.5%
lee
209
ford
+86.9%
-11.3%
227
Leba n
175
+77.3%
246
Thet
+2885.7%
West Fair
-75.6%
Source: NEREN 1/1/17-3/31/17
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