Luxury Market Report V ER M ONT & NEW H AM PSH I R E Y EAR END 2023
Luxury Market Introduction YEAR END 2023
Luxury is an Experience We are pleased to share our latest Luxury Market Report covering both New Hampshire and Vermont. In this report you will find real estate trends for the Luxury Market which is defined as homes sold for over $1MM. Four Seasons Sotheby’s International Realty is the clear leader in the Luxury Market with nearly +36% more properties sold at the $1MM+ level than our next closest competitor in the two states combined. Our performance is the direct result of the reach and power of our brand together with our ongoing commitment by our associates and staff to provide the highest level of service and expertise to both Buyers and Sellers. It would be our privilege to service all of your real estate needs in this beautiful and scenic place we call home.
Laurie Mecier-Brochu CEO/President *Source: Trendgraphix Data - 1/1/23 - 12/31/23All VT & NH Counties Combined
Table of Contents Market Overview PAGE 4
$1MM + Vermont & New Hampshire PAGE 6
$1MM + Vermont PAGE 8
$1MM + New Hampshire PAGE 10
Market Overview YEAR END 2023
Year End 2023 Recap The Luxury Market in Vermont and New Hampshire began to show signs of stabilizing during 2023. Lack of inventory remains at historically low levels which in turn has helped to keep prices relatively stable. Vermont reflected a decrease of -4.9% in Properties Sold and the Average Sales Price decreased by -6.2%, while Average Days on Market decreased slightly by -1.4%. New Hampshire exhibited a -2.3% decrease in Properties Sold, Average Sale Price decreased by -1.8% and a +26.1% increase in Average Days on Market. Moving into 2024, we anticipate the Luxury Market in both states to continue current trends with limited inventory still available and prices remaining relatively stable. Pricing appropriately, preparing your home for market, and reaching the right Buyers will become even more critical in order to sell your property in a timely manner. Properties that are overpriced are beginning to sit on the market for longer periods of time. Now more than ever, you need a trusted partner with the experience, track record and resources to navigate this uncertain market. *Source: Trendgraphix Data - 1/1/23 - 12/31/23- All VT & NH Counties Combined
KILLINGTON, VT
JAFFREY, NH
DORSET, VT
NEWBURY, NH
WINHALL, VT
HANOVER, NH
A sample of some of our 2023 Significant Sales throughout Vermont & New Hampshire
BARNARD, VT
CASTLETON, VT
RINDGE, NH
LONDONDERRY, VT
SUNAPEE, NH
BURKE, VT
Luxury Report: $1MM+ VERMONT & NEW HAMPSHIRE
YEAR END 2022
YEAR END 2023
% CHANGE
1554
1506
3.1%
$1,772,536
$1,718,266
3.1%
54
63
16.7%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKE T
Source: Prime MLS 1/1/22 - 12/31/22 and 1/1/23 - 12/31/23— All VT & NH Counties Combined
Number of Homes For Sale vs. Sold vs. Pended (JANUARY 2023 - DECEMBER 2023)
600
568
FOR SALE
550
539
SOLD
513
PENDED
500
501
470
450
419
416
400
374
350 300
309
297
303
296
250 200 150 100
111 87
0
69
1/23
142 115
135
125
85
67
50
146
127
47
2/23
83
3/23
77 83
111
169
4/23
5/23
6/23
122
7/23
66
138
143
128
131
96
8/23
9/23
10/23
11/23
12/23
Source: Trendgraphix utilizing Prime MLS data 1/1/22 - 12/31/23— All VT & NH Counties Combined
Luxury Report: $1MM+ VT & NH COMBINED
Total Sales in $000
Total Sales in Units
(JAN. 2023 - DEC. 2023)
(JAN. 2023 - DEC. 2023)
92M
69 84
117M
244
434M 249M
143 331M
179
FSSIR
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
COMPETITOR 4
*Source: Prime MLS Data - 1/1/23 - 12/31/23— All VT & NH Counties Combined
Luxury Report: $1MM+ VERMONT
YEAR END 2022
YEAR END 2023
% CHANGE
469
446
4.9%
$1,754,466
$1,645,977
6.2%
74
73
1.4%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKE T
Source: Prime MLS 1/1/22 - 12/31/22 and 1/1/23 - 12/31/23— All VT Counties Combined
Number of Homes For Sale vs. Sold vs. Pended (JANUARY 2023 - DECEMBER 2023)
250
240
FOR SALE
225
237
224
SOLD
211
PENDED
208
200 181
175
167
159
150
145
143
133
130
125 100 75 50 36
25 0
44
35 23
19 24
1/23
29
20
2/23
33
3/23
28
33
39
4/23
5/23
6/23
40 25
27
7/23
43
37
34
22
40
45
41
39
32
8/23
9/23
10/23
11/23
12/23
Source: Trendgraphix utilizing Prime MLS data 1/1/22 - 12/31/23— All VT Counties Combined
Luxury Report: $1MM+ VERMONT
Total Sales in $000
Total Sales in Units
(JAN. 2023 - DEC. 2023)
(JAN. 2023 - DEC. 2023)
39 39
93M
147
236M
84M
40 68M
68
FSSIR
96M
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
*Source: Prime MLS Data - 1/1/23 - 12/31/23— All VT Counties Combined
COMPETITOR 4
Luxury Report: $1MM+ NEW HAMPSHIRE
YEAR END 2022
YEAR END 2023
% CHANGE
1085
1060
2.3%
$1,780,347
$1,748,682
1.8%
46
58
26.1%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKE T
Source: Prime MLS 1/1/22 - 12/31/22 and 1/1/23 - 12/31/23— All NH Counties Combined
Number of Homes For Sale vs. Sold vs. Pended (JANUARY 2023 - DECEMBER 2023)
350
331
325 FOR SALE
300
289
SOLD
275
299
289
290
PENDED 249
250 225
215
211
200 175 150
164
154
173
163
125 100 75 50
105
102
98
92
81
76
85
62
51
52
48
44
25 0
45
1/23
27
2/23
50
3/23
55
78
130
4/23
5/23
6/23
95
7/23
98
98
87
92
64
8/23
9/23
10/23
11/23
12/23
Source: Trendgraphix utilizing Prime MLS data 1/1/22 - 12/31/23— All NH Counties Combined
Luxury Report: $1MM+ NEW HAMPSHIRE
Total Sales in $000
Total Sales in Units
(JAN. 2023 - DEC. 2023)
(JAN. 2023 - DEC. 2023)
69
92M
97
100M
71
139
FSSIR
244M
177
COMPETITOR 1
198M
329M
COMPETITOR 2
COMPETITOR 3
*Source: Prime MLS Data - 1/1/23 - 12/31/23— All NH Counties Combined
COMPETITOR 4
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Vermont New York Hudson Valley Champlain Valley Kingston: 802.864.0541 845.331.3100 South Burlington: Rhinebeck: 845.876.5100 Central Tivoli:Vermont 845.757.5000 Catskill: 518.943.7533 Rutland: 802.774.7007 Hudson: 518.822.0800 Killington: 802.746.4203 Stowe: 802.253.7267 Upstate New York Northeast Kingdom Saratoga Springs: 518.580.8500 St. Johnsbury: 802.751.7582 Bolton Landing: 518.644.9500 Lake Placid: 518.523.2550 Southern Vermont Central New York Mount Snow: 802.464.1200 Stratton: Syracuse: 802.297.1100 315.685.8100 Thousand Manchester: Islands 802.362.4551 Region: 315.685.8100 Okemo: 802.228.4537 Finger Lakes Region: 315.685.8100
New Hampshire Lake Sunapee Region New London: 603.526.4050 Lakes Region of New Hampshire Meredith: 603.677.7012 Southern New Hampshire Bedford: 603.413.7600 Peterborough: 603.924.3321 Upper Valley Hanover: 603.643.6070
Upper Western Valley New York Fairlee: Buffalo: 802.333.4701 716.320.1414 Rochester: 585.394.7111
New Vermont York Hudson Valley Champlain Valley Kingston: 845.331.3100 South Burlington: 802.864.0541 Rhinebeck: 845.876.5100 Central Vermont Tivoli: 845.757.5000 Catskill: Rutland:518.943.7533 802.774.7007 Hudson: 518.822.0800 Killington: 802.746.4203 Stowe: 802.253.7267 Upstate New York Northeast Saratoga Springs:Kingdom 518.580.8500 St. Johnsbury: 802.751.7582 Bolton Landing: 518.644.9500 Lake Placid: 518.523.2550 Southern Vermont New York MountCentral Snow: 802.464.1200 Stratton: Syracuse:802.297.1100 315.685.8100 Thousand Manchester: Islands Region: 802.362.4551 315.685.8100 802.228.4537 FingerOkemo: Lakes Region: 315.685.8100
New
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Lakes Regio Mered
Souther Bedfo Peterboro
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Western Upper Valley New York Fairlee: Buffalo:802.333.4701 716.320.1414 Rochester: 585.394.7111
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