NORTHEAST KINGDOM
MARKET REPORT FIRST HALF 2018
PROPERTIES OF DISTINCTION REGARDLESS OF PRICE Whether your property is valued at $200,000 or $2,000,000, it has a story all its own. It’s written in the details, big and small, that make a house into a home... or a piece of land into a dream. A remembrance of things past... a celebration of things to come. Telling these treasured tales is our specialty. We start by uncovering and bringing to life all the things that make a property exceptional. By combining outstanding photography and attention-getting narrative details, our distinctive storytelling process provides our clients the opportunity to showcase their home’s finer details in ways that truly resonate with prospective buyers. It is with pleasure that we use our considerable experience and resources to artfully unite special places with those who will cherish them.
MLS#4691028
MARKET OVERVIEW
FIRST HALF 2018
KNOWLEDGE IS POWER We are proud to share our First Half 2018 Market Report for the Northeast Kingdom Region of Vermont real estate markets. In this report you will find year over year market trends by 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 real estate market during the First Half of 2018 for the Northeast Kingdom Region of Vermont varied significantly by town. Specifically, Burke and Greensboro reflected significant increases in number of properties sold as well as an increase in Average Sale Price. However, Lyndon, Orleans and St. Johnsbury reflected a sharp decrease in the number of properties sold and a modest decrease in the Average Sale Price. Moving forward, we believe the lack of inventory will continue to be a driving factor in lower and mid-range segments which will continue to support a Seller’s market. In some cases this can result in higher home prices. However, fewer Buyers in the luxury segment dictates the importance of appropriate pricing which is critical to selling properties in a timely manner. The economy is strong with low unemployment and wages have begun to show some improvement. We are optimistic that the current trends will continue into the Second Half of 2018 even in the face of likely higher mortgage rates and the new federal tax legislation’s impact on the market. Four Seasons Sotheby’s International Realty has 20 offices spread throughout Vermont and New Hampshire and our experienced Agents in our St. Johnsbury office are ready and eager to serve all of your real estate needs. We are committed to providing you with the highest level of service and expertise to Buyers and Sellers regardless of price. It would be our privilege to serve you for all of your real estate needs in the Northeast Kingdom Region. Staige Davis - CEO Buff McLaughry - President Alan DiStasio - COO Lori Shipulski - Regional Manager for the Upper Valley & Northeast Kingdom Cheryl Kerr - Managing Broker St. Johnsbury Office Cover Property: MLS#4682913 Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018
BURKE VERMONT
FIRST HALF 2017
FIRST HALF 2018
% CHANGE
15
32
113%
$147,856
$218,896
48%
182
253
39%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JULY 2017 - JUNE 2018)
For Sale
50
Sold
47
46
Pended
45
42
43 39
40
39
40
40 38 36
35
36
29
21
14
7
8
7
8
5
0
2
1 7/17
2
7
8/17
4
1
5
9/17
10/17
2
3
11/17
1 0
12/17
4
1/18
7
5 3 3
4
2/18
3/18
10
4
4
4/18
5/18
6/18
GREENSBORO VERMONT
FIRST HALF 2017
FIRST HALF 2018
% CHANGE
6
8
33%
$254,817
$269,118
6%
437
287
34%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JULY 2017 - JUNE 2018)
30
25
25 23 21 20
20 18 17
17
17 16
15
14 12
12
10
5 4 3 2
0
1 0
7/17
2 3
2
8/17
9/17
1 2
10/17
0
3
11/17
2
0
1 1
1 0
0
1 1
2
2
12/17
1/18
2/18
3/18
4/18
5/18
6/18
0
LYNDON VERMONT
FIRST HALF 2017
FIRST HALF 2018
% CHANGE
30
23
23%
$114,195
$107,486
6%
203
176
13%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JULY 2017 - JUNE 2018)
40 37 35
34
34
34
33
34
33
32
31
30
31
30
27
20
13
7 4
0
6
5
8
7/17
2
8
7
6
4
5
2
4
8/17
9/17
10/17
2
4
11/17
1 5
12/17
2
1/18
2
1 0
4
4
6
2/18
3/18
4/18
5/18
6/18
0
ORLEANS VERMONT
FIRST HALF 2017
FIRST HALF 2018
% CHANGE
6
4
33%
$99,058
$128,450
30%
127
31
76%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JULY 2017 - JUNE 2018)
6
6
6
5
5
4.8
4
4
3.6 3
3
3
3
3
2.4 2
2
2
2
2
2
1.2 1
0
1
1
1
1
2
2
7/17
8/17
9/17
10/17
1
2
0
11/17
12/17
0
0
0
1/18
1
0
2
1
1
2/18
3/18
4/18
5/18
0
6/18
ST. JOHNSBURY VERMONT
FIRST HALF 2017
FIRST HALF 2018
% CHANGE
43
30
30%
$132,370
$126,684
4%
178
174
2%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2017 - 6/30/2018
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JULY 2017 - JUNE 2018)
60
57
56
55 53
50 44
43
41 39
40
39
38 35
34
30
20
13
10
10
9
8
7 4
0
10
7
13
12
6
8
7/17
8/17
9/17
10/17
11/17
3
5
12/17
3
5
4 2
1/18
4
1 1
4
7
5
2/18
3/18
4/18
5/18
6/18
MLS#4640145
SOUTHERN VERMONT
CHAMPLAIN VALLEY
LAKE WINNIPESAUKEE REGION
Mount Snow: 802.464.1200 Stratton: 802.297.1100 Manchester: 802.362.4551 Okemo: 802.228.4537 Bromley: 802.824.3113
Middlebury: 802.388.1000 Vergennes: 802.877.3232 South Burlington: 802.864.0541
Meredith: 603.677.7012 Wolfeboro: 603.941.1000
CENTRAL VERMONT Rutland: 802.774.7007 Stowe: 802.253.7267 Randolph: 802.565.8136
NORTHEAST KINGDOM St. Johnsbury: 802.751.7582
LAKE SUNAPEE REGION New London: 603.526.4050
UPPER VALLEY Fairlee: 802.333.4701 Hanover: 6 03.643.6070 603.643.6400 West Lebanon: 603.298.5155
SOUTHERN NEW HAMPSHIRE Bedford: 603.413.7600
FourSeasonsSIR.com Each Office is Independently Owned and Operated