Q1 2017 MARKET REPORT NORTHEAST KINGDOM
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
NORTHEAST KINGDOM REPORT
Total Sales in Units are typically light in Q1:
- St. Johnsbury stayed flat - Lyndon +100.0%
Average Sale Price varied by town: - Greensboro +131.9%
$
- St. Johnsbury +62.8% - Lyndon -12.2% - Burke -50.2%
Average Days on Market decreased for a majority of towns: -B urke and Lyndon decreased -G reensboro, Orleans and St. Johnsbury exhibited an increase
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 2
TOTAL SALES IN UNITS Number of Sales
KEY
12
+100.0% 0.0%
12
2017 Annual
11
11
2016 Annual 9
+50.0%
6
6
6
-33.3%
3
-66.7%
4 3
3
2 1
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 | 2 3
ury ohns b St. J
s Orle an
Lynd on
Burk e
Gree nsbo
ro
0
Source: NEREN 1/1/17-3/31/17
NORTHEAST KINGDOM REPORT
AVERAGE SALE PRICE Average Sale Price
KEY
+131.9%
400,000
2017 Annual 2016 Annual 300,000 -50.2%
200,000 +300.9%
+62.8%
-12.2%
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 | 2 4
bury
88k
143k
ohns
s Orle an
n Lynd o
Burk e
Gree
nsbo
ro
0
St . J
37k
155k
131k
115k
239k
119k
171k
398k
100,000
Source: NEREN 1/1/17-3/31/17
AVERAGE DAYS ON MARKET Average Days on Market 900
+220.3%
KEY 2017 Annual
852
2016 Annual 675
450
+57.1%
266 140
135
Orle an
n Lynd o
Burk e
ro nsbo Gree
43
s
55
0
154
+27.9%
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 | 2 5
bury
127
ohns
123
242
-3.6%
-3.1%
St. J
225
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