Q3 YTD 2016 MARKET REPORT
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 1
Knowledge is Power We are proud to share with you our Vermont and New Hampshire Q3 YTD 2016 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 this report, you will find year over year market trends comparing this year to date with the same time period last year in order to help you identify where the market is headed. Please don’t hesitate to contact one of our associates for more detailed information on the town (or towns) you intend to sell or purchase in this year.
We hope you find this, our Q3 YTD Market Report for 2016, 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 in all price categories. It will be our privilege to serve you.
Staige Davis, CEO
MLS#4603369
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 2
TABLE OF CONTENTS 1 Market Review 2 Central Vermont Rutland County Washington County Lamoille County 3 Champlain Valley Chittenden County Addison County 4 Lake Sunapee Region Merrimack County Sullivan County MLS#4503566
5 Lake Winnipesaukee Region Belknap County Carroll County 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#4511337
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 3
MARKET REVIEW
E
ven as housing market activity begins its seasonal cool down, the forecast for the best year in total home sales since 2006 looks increasingly strong. Through the first seven months of the year, the number of homes sold — both new and existing — totaled 3.4 million nationally, the highest total for this same time period since 2006. And indications from both mortgage applications and pending home sales imply this momentum will be sustained throughout the third quarter. As such, housing remains a bright spot for the economy as the rest of the economy sputters along.
Solid job gains and low mortgage rates sustain housing’s momentum. Despite limited real wage gains and rising house prices, housing markets have sustained momentum into the third quarter of 2016. Following the Brexit vote, the average 30-year fixed-rate mortgage has ranged between 3.41 and 3.50 percent from June 23 through September 15, 2016.
Nationally, house prices have increased about 3 percent over the six months from December 2015 to June 2016. The combination of rising house prices and falling rates have resulted in increased homebuyer affordability nationwide. In other words, the impact of lower mortgage rates has more than offset the rise in house prices, at least nationally. Of course, some markets have seen 6-month house price appreciation of over 6 percent, but, on balance, lower rates have maintained or slightly improved homebuyer affordability. Looking ahead, we have revised up our forecast of home price appreciation to 5.6 percent and 4.7 percent in 2016 and 2017, respectively. This is up from last month’s forecast of 5.3 percent for 2016 and 4.0 percent for 2017. We still expect house price growth to moderate over the next year as new supply comes to market and higher mortgage rates dampen homebuyers’ demand, but at a more moderate pace than before.
THE DECLINE IN [MORTGATE] RATES FROM 4 PERCENT AT THE END OF 2015 TO ABOUT 3.5 PERCENT IN THE THIRD QUARTER OF 2016 IS HELPING TO SUPPORT HOMEBUYER AFFORDABILITY AND OFFSET HIGHER HOME PRICES.
We expect mortgage rates to gradually rise in the coming months, ending 2016 around 3.6 percent and averaging 3.6 percent for the year. This would be the lowest annual average in the past 40 years. Next year, we expect rates to drift modestly higher, ending 2017 at about 3.9 percent and averaging 3.7 percent for the year. The decline in rates from 4 percent at the end of 2015 to about 3.5 percent in the third quarter of 2016 is helping to support homebuyer affordability and offset higher home prices. For example, a prospective homebuyer looking to finance a $250,000 home loan with a 30-year fixed-rate mortgage would pay about $850 less per year in principal and interest payments with rates at 3.5 percent rather than 4.0 percent. The principal and interest payments on the same $250,000 mortgage at 4 percent is approximately equal to the payment on a $266,000 30-year fixed-rate mortgage at 3.5 percent – or 4 percent more home for the typical homebuyer.
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 4
MLS#4439916
THE LUXURY MARKETS IN NEW HAMPSHIRE AND VERMONT The luxury market traditionally picks up in summer as the weather gets better and the waterfront activities commence and this year was no exception. However, the luxury market continues to be primarily a buyers market, particularly in Vermont, due to a relatively large supply of inventory. This has resulted in many homes staying on the market for a prolonged period of time before finding a buyer. Pricing appropriately in this type of marketplace is critical and many sellers have had to lower their price expectations in order to be competitive.
MLS#4434998
New Hampshire
Vermont
New Hampshire's housing market remains strong for January - September 2016 posting a 9.5% increase in Single Family homes sold with a 1.0% increase in Average Sales Price to $283,900. The Condo market also remained strong during this time period exhibiting a 5.3% increase in units sold. We expect this market to continue to be strong for the remainder of the year given the economy remains solid.
Total units sold were up 5.9% for the first 9 months (January thru September) for all property types. Pricing increased modestly by 1.5%, however days on market increased by 20 additional days to 163. The higher price points ($700K+) are taking even longer to sell with Avg. Days on Market increasing to 213 days. Pricing your property appropriately is more important than ever to get it sold in a timely manner.
Four Seasons Sotheby’s International Realty continues to be the clear leader in the Luxury market in both Vermont and New Hampshire with the most total sales above $600K+. Additionally, we have sold more than double the amount of $1M+ properties than our next closest competitor. *Source: NH and VT Association of Realtors **Source: NEREN 1/1/16 - 6/30/16
We anticipate the Vermont housing market to continue to show modest growth through the rest of the year given the state’s current economic outlook (limited population growth).
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 5
CENTRAL VERMONT REPORT
Rutland City, Brandon and Stowe showed significant increase in total units sold.
- Rutland City +27.4% - Brandon +51.7% - Stowe +12.8%
Average Sale Price was relatively flat with a few exceptions: - Castleton +44.1%
$
- Brandon +44.4% - Stowe +25.7%
Average Days on Market increased modestly in most towns with a few notable exceptions: - Rutland Town -17.9% - Waterbury -24.4% - Stowe -4.4%
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 6
TOTAL SALES IN UNITS Number of Sales 160
KEY
+27.4%
Q3 YTD - 2016
149
+12.8%
Q3 YTD - 2015 120
123
117
109
-29.9%
r Proc to
leton Cast
18
16
10
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 7
Stow e
15
29
ury
21
+60.0%
don
23
56
44
don
+16.7%
Men
26
+53.3%
10
ho
y Shre wsbu r
n d Tow Rutla n
Rutla n
d Cit y
0
32
Jeric
16
36
52
+23.1%
ey
+60.0%
40
47
+51.7%
Poul tn
44
lph
40
+11.1%
Rand o
51
-7.1%
67
Bran
+15.9%
Wate rb
80
CENTRAL VERMONT REPORT
AVERAGE SALE PRICE Average Sale Price
KEY
600,000
+25.7%
Q3 YTD - 2016 Q3 YTD - 2015 450,000
+4.1%
-1.5%
300,000
-3.9% +44.1% +13.1%
451k
567k
Stow e
301k
113k
314k
ry Wate rbu
don Bran
251k
241k
don Men
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 8
163k
+44.4%
+5.3%
134k
124k
r Proc to
148k
213k
leton Cast
292k
288k
o Jeric h
160k
181k
ph Rand ol
164k
169k
y Shre wsbu r
199k
112k
193k
n d Tow Rutla n
City Rutla nd
0
127k
150,000
131k
+5.1%
141k
+3.1%
+13.4%
Poul tney
-3.2%
AVERAGE DAYS ON MARKET Average Days on Market
KEY
400 +26.2% +3.7%
300
200
229 221
262
+31.4%
Q3 YTD - 2015
347
+92.0%
318
-17.9% +3.6%
Q3 YTD - 2016
313
+12.7%
279
269
-1.3%
252
222 225
215
137
295 288
264
258
-4.4% -24.4%
262
274
242
229 183
+11.4%
100
+2.4%
163
123
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 9
Stow e
ur y Wate rb
Bran don
don Men
ey Poul tn
r Proc to
Cast leton
o Jeric h
lph Rand o
y Shre wsbu r
d Tow n Rutla n
Rutla n
d Cit y
0
CHAMPLAIN VALLEY REPORT
Total Sales in Units was relatively flat in The Champlain Valley with a few notable exceptions: - Shelburne +63.6%
- Williston +15.0%
- Charlotte +32.2%
- Essex +5.4%
- Ferrisburgh +69.6%
Average Sale Price increased significantly in three towns: - Charlotte +14.5%
$
- Shelburne +25.2% - Addison +48.2%
Average Days on Market varied widely by individual town: -R ichmond, Shelburne and Williston increased by 50.4%, 41.7% and 16.2% respectively -M iddlebury, Addison and Vergennes decreased by 11.8%, 54.6% and 26.4% 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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 1 0
TOTAL SALES IN UNITS Number of Sales
KEY
300
+5.4%
-11.1% -1.6% 261
225
241
Q3 YTD - 2016
273 259
Q3 YTD - 2015
245 232
-2.7% 177
182
150
+15.0%
-25.0%
39
35
23
9
ry lebu Midd
burg h Ferri s
n Willis to
burn e Shel
d mon Rich
Hine sbur g
Esse x
Colc hest er
lotte Char
Wino oski
n ngto Burli
So. B urlin gton
0
2
+50.0% 6
4
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 1 1
+100.0% -33.3% 12
6
6
9
-15.0% 17
20
-33.3%
20
30
nnes
38
+350.0%
New Have n
32
31
44
Shor eham
41
68 51
port
55
Verg e
+69.6%
-15.8% +25.7%
Brid
+32.3%
54
m
80
107 90
Walt ha
75
123
Addi son
+63.6%
-32.5%
CHAMPLAIN VALLEY REPORT
AVERAGE SALE PRICE Average Sale Price
KEY
600,000
Q3 YTD - 2016 +14.5%
+25.2%
Q3 YTD - 2015
450,000
+48.2% +1.2%
+1.8% +3.6%
+13.5%
300,000
-1.8%
+1.5%
+1.3%
-3.8%
+11.6% -6.5%
+52.5% +1.3%
-11.5% +3.3%
-44.1%
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 1 2
166k 159k
nnes Verg e
251k 248k
n Have New
241k 158k
ham Shor e
203k 196k
rt Brid po
213k 241k
Walt ham
408k 276k
n Addi so
225k 240k
ry Midd lebu
268k 240k
Ferri sbur gh
326k 322k
n Willis to
523k 418k
urne Shel b
285k 297k
d mon Rich
274k 270k
Hine sbur g
276k 282k
Esse x
293k 283k
este r Colc h
478k 417k
lotte Char
272k 240k
Wino oski
326k 320k
n ngto Burli
lingt on So. B ur
0
323k 319k
150,000
AVERAGE DAYS ON MARKET Average Days on Market
KEY
-44.0%
600
Q3 YTD - 2016
580
Q3 YTD - 2015
-54.6%
450
458
-22.8%
-24.6%
300 +1.1%
150
325
309
-18.9%
-10.7%
132 107
108
121
-9.9% 109
178 176
184
-26.7% 150
143
251
233 209
204 144
139
-11.8%
+16.2%
177
157
121
-19.2%
325
317
-26.4%
+50.4% +41.7%
-14.7%
+33.8%
136
110
-11.2%
208
237
175 135
117
227
197 167
153
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 1 3
nnes Verg e
Have n New
Shor eham
rt Brid po
m Walt ha
Addi son
ry lebu Midd
h burg Ferri s
n Willis to
urne Shel b
Rich mon d
Hine sbur g
Esse x
Colc hest er
lotte Char
Wino oski
ton Burli ng
So. B ur
lingt on
0
LAKE SUNAPEE REPORT
Total Sales in Units increased in most towns with the following showing significant gains: - Newport +49.1%
- Grantham +35.1%
- New London +16.7%
- Newbury +13.9%
Average Sale Price was relatively flat with a few exceptions:
$
- Bradford +67.8% - Sutton +27.2% - Newbury +9.8%
Average Days on Market varied widely by individual town: -S unapee, Bradford, Wilmot and Newbury exhibited fewer days on market
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 14
TOTAL SALES IN UNITS Number of Sales
KEY
+35.1%
110
Q3 YTD - 2016
+16.7% +49.1%
79
Q3 YTD - 2015
91
82.5
104
78
+16.7%
77
63
55
+14.0%
54
53
+16.1
36
27.5
27 20
43
+0.0%
+35.0%
31
49
+12.5%
36 -28.6%
+10.0%
11
32
10
10
30 30
+0.0%
21
21
14
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 1 5
bury New
t Wilm o
Warn er
Sutt on
d Sprin gfiel
Gran tham
Gosh en
ford Brad
Ando ver
n Lond o New
Suna pee
New port
0
LAKE SUNAPEE REPORT
AVERAGE SALE PRICE Average Sale Price 500,000
KEY
-0.1%
Q3 YTD - 2016 -2.4%
Q3 YTD - 2015
375,000
-24.6%
-30.3%
250,000
-9.7%
+67.8%
-17.7%
+27.2%
+9.8%
-9.8%
+5.2% -10.7%
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 1 6
289k
317k
bury New
327k
246k
t Wilm o
230k
207k
Warn er
193k
245k
Sutt on
265k
219k
d gfiel Sprin
246k
222k
am Gran th
165k
174k
Gosh en
132k
221k
ford Brad
241k
168k
Ando ver
392k
383k
n Lond o New
453k
136k
453k
pee Suna
port New
0
122k
125,000
AVERAGE DAYS ON MARKET Average Days on Market
KEY
400
Q3 YTD - 2016
-30.5%
Q3 YTD - 2015
348
-51.3%
300
306
-47.0%
200
198
+24.2%
+13.0%
+14.4%
226
223
200
154
200
139
124
100
242
+43.9%
195
127
-7.7%
194 173
+10.4%
+30.2%
112
105
-10.8%
149
+78.0%
115
155
168
105
86 59
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 1 7
bury New
t Wilm o
r Warn e
Sutt on
field Sprin g
tham Gran
Gosh en
ford Brad
Ando ver
n Lond o New
ee Suna p
New
port
0
LAKE WINNIPESAUKEE REPORT
Total Sales in Units increased modestly in most towns with a few noticeable gains: - Laconia +13.0% - Moultonborough +32.5% - Center Harbor +84.2%
Average Sale Price varied by town: - Decreased in Alton and Gilford
$
- I ncreased slightly in Meredith, Wolfeboro, Laconia and Moultonborough - I ncreased significantly in Center Harbor by 96.0%
Average Days on Market also varied by town: -W olfeboro, Moultonborough and Center Harbor increased - Meredith, Alton and Gilford decreased - Laconia remained flat
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 1 8
TOTAL SALES IN UNITS Number of Sales
KEY
400
+13.0%
Q3 YTD - 2016
347
Q3 YTD - 2015 300
307 +4.6%
200 +12.4%
100
206
+7.3%
127
161
+0.0%
167
150 125
113
+32.5%
197
126
125
+84.2%
35
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 1 9
bor Cent er Ha r
orou gh ltonb Mou
Laco nia
rd Gilfo
Alton
Wolf ebor o
Mere
dith
0
19
LAKE WINNIPESAUKEE REPORT
AVERAGE SALE PRICE Average Sale Price 500,000
KEY
-16.9% +4.0%
Q3 YTD - 2016 +2.4%
+0.5%
Q3 YTD - 2015
+96.0%
375,000 -29.1%
+11.9%
250,000
205k
401k
395k
405k
208k
233k
330k
234k
440k
366k
394k
396k
391k
407k
125,000
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 2 0
bor Cent er Ha r
nbor ough Mou lto
Laco nia
rd Gilfo
Alton
Wolf ebor o
Mere dith
0
AVERAGE DAYS ON MARKET Average Days on Market
KEY
+34.6%
220 214
Q3 YTD - 2016 -28.8%
+15.2%
Q3 YTD - 2015 165
177 -12.7%
167
159
-3.1%
142 110
126
124
127
131
+0.0%
125
+5.5%
145 134
125
55
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 2 1
bor r Har Cent e
roug h Mou
ltonb o
nia Laco
Gilfo rd
Alton
oro Wolf eb
Mere
dith
0
127
NORTHEAST KINGDOM REPORT
Total Sales in Units were down slightly across the board:
- St. Johnsbury -5.4% - Lyndon -3.3%
Average Sale Price varied by town: - Greensboro +41.9%
$
- Burke +10.8% - Lyndon +15.9%
Additionally, Average Days on Market decreased for a majority of towns: -G reensboro, Burke, Lyndon and Orleans all decreased -S t. Johnsbury exhibited the only 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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 2 2
TOTAL SALES IN UNITS Number of Sales
KEY
60
-5.4%
Q3 YTD - 2016
56 53
Q3 YTD - 2015 45
-3.2%
-23.1%
30
31
30 26 20
-23.1%
15
-33.3%
13
12
10
8
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 2 3
bury ohns St. J
Orle ans
n
Burk e
Lynd o
Gree
nsbo ro
0
NORTHEAST KINGDOM REPORT
AVERAGE SALE PRICE Average Sale Price +10.8%
220,000
KEY Q3 YTD - 2016
+41.9%
Q3 YTD - 2015 165,000 +15.9%
-4.5%
110,000
-36.7%
133k
127k
91k
58k
117k
136k
191k
212k
131k
186k
55,000
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 2 4
bury ohns St. J
s Orle an
Burk e
Lynd on
Gree
nsbo
ro
0
AVERAGE DAYS ON MARKET Average Days on Market 400
KEY
-13.8%
Q3 YTD - 2016
355 300
Q3 YTD - 2015 +15.2%
306 -31.1%
281
-17.0%
244
-23.6%
244
223
200 185
199 168
152
100
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 2 5
bury ohns St. J
s Orle an
n Lynd o
Burk e
Gree nsbo ro
0
SOUTHERN NEW HAMPSHIRE REPORT
Total Sales in Units increased in most towns with the following showing significant gains: - Londerry increased +1.3%
-B edford decreased by 6.4%
- Amherst increased +7.7%
- Windham decreased by 7.0%
- M errimack increased +7.2%
Average Sale Price was also relatively flat - Francestown +13.3%
$
- Windham +5.2% - Bedford -3.5%
Average Days on Market varied widely by individual town: - Bedford increased +19.6% - Francestown increased significantly +69.7% -P eterborough, Londonderry and Chester decreased by 6.8%, 36.4% and 24.5% 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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 2 6
TOTAL SALES IN UNITS Number of Sales
KEY
500
Q3 YTD - 2016
+7.3% +1.3%
Q3 YTD - 2015 375
386
428 399
381
-6.1% +7.7%
210
279
297
-6.9%
229
246
195 +19.5%
79
15
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 2 7
imac k
gh orou Pete rb
m Wind ha
rd Bedf o
erst Amh
Fran cest own
25
0
73 15
Merr
25
Ches ter
82
-7.6%
+66.7%
ry
98
nder
125
Lond o
250
SOUTHERN NEW HAMPSHIRE REPORT
AVERAGE SALE PRICE Average Sale Price 500,000
KEY
+5.2%
Q3 YTD - 2016
-3.5%
375,000
Q3 YTD - 2015
-0.7%
+0.5% +0.2% +3.6%
250,000
+1.0%
+13.3%
241k
243k
348k
350k
285k
286k
209k
237k
210k
217k
434k
457k
421k
406k
332k
334k
125,000
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 2 8
k imac Merr
Ches ter
y nder r Lond o
Fran cest own
gh orou Pete rb
am Wind h
rd Bedf o
Amh
erst
0
AVERAGE DAYS ON MARKET Average Days on Market
KEY
300
Q3 YTD - 2016 Q3 YTD - 2015 225
150
+69.7%
246
-6.7% -2.1% -1.5%
+19.6%
75 67
68
67
111 92
145 -35.6%
119
94
87
56
-23.5%
98 75
56
-2.1%
46
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 2 9
k imac Merr
Ches ter
ry nder Lond o
Fran cest own
gh orou Pete rb
am Wind h
rd Bedf o
Amh
erst
0
47
SOUTHERN VERMONT REPORT
Total Sales in Units increased in most towns with the following showing significant gains: -M anchester, Dover, Ludlow, Londonderry, and Chester exhibited substantial increases - Wilmington exhibited a modest decrease - Dorset, Winhall and Plymouth were relatively flat
Average Sale Price was also relatively flat
$
-D orset, Marlboro, Stratton, Plymouth and Chester showed significant increase -D over, Wardsboro, Winhall, Ludlow and Cavendish showed modest decline
Average Days on Market varied widely by individual town: -D orset, Marlboro, Plymouth and Peru exhibited large decreases - Chester and Weathersfield exhibited increases - Manchester was relatively flat
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 3 0
TOTAL SALES IN UNITS
Number of Sales
KEY
140
+4.1% 127
Q3 YTD - 2016
122
+25.3%
Q3 YTD - 2015 114
105 -9.9% +17.5
70
91
81 73
67
23 16
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 3 1
Shre wsbu ry
rsfie ld
10
+9.1% 12
26
11
Ches ter
+60.0%
Peru
22
27
Wea the
15
h
uth
ow Ludl
tton
15
18
ndis
26
37
-18.2%
Cave
+0.0%
18
13
4
+42.3% +17.4%
40
Stra
4
ro
Dove r
gton Wilm in
ches ter Man
Dors e
t
0
Marl boro
10
22
ll
+150.0%
40
30
Winh a
+69.2%
Lond onde rry
36 37
43
+53.8%
Plym o
+66.7%
Ward sbo
35
+7.5%
57
-2.7%
SOUTHERN VERMONT REPORT
AVERAGE SALE PRICE Average Sale Price
KEY
600,000
+51.9%
Q3 YTD - 2016 Q3 YTD - 2015
+25.7%
450,000 -2.1%
-5.4% +6.7% +13.1%
300,000
-5.8%
+152.1%
+100.7% +29.3%
+2.6% -6.7%
-23.1%
+25.4%
+1.0% +3.1%
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 3 2
174k
225k
Ches ter
197k
199k
Peru
164k
169k
y Shre wsbu r
146k
183k
rsfie ld Wea the
168k
157k
h ndis Cave
130k
261k
outh Plym
362k
354k
ow Ludl
388k
589k
tton Stra
353k
334k
ll Winh a
196k
201k
ry nder Lond o
167k
129k
boro Ward s
101k
255k
boro Marl
252k
238k
Dove r
231k
261k
Wilm in
gton
302k
323k
ches ter Man
346k
Dors et
0
435k
150,000
AVERAGE DAYS ON MARKET Average Days on Market 600
KEY
-68.6%
Q3 YTD - 2016
551
Q3 YTD - 2015
-37.2%
-31.7%
450 438
-1.4% -21.3%
+0.3%
-23.7%
350 355
343 342
320
300 275
252
-3.7%
-1.3%
+17.1% -27.3%
343
356
316
-21.7%
442
390 395
432
-23.4%
356 330 304
241
320
302
+38.8% +3.7%
333
315 279
245
240
+49.3% 324
269
240 217
173
150
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 3 3
Ches ter
Peru
y Shre wsbu r
rsfie ld Wea the
h ndis Cave
Plym outh
Ludl ow
tton Stra
ll Winh a
ry Lond onde r
Ward sbor o
boro Marl
Dove r
gton Wilm in
ches ter Man
Dors e
t
0
UPPER VALLEY REPORT Total Sales in Units varies by individual town: - H anover, Woodstock and Hartford all increased
-L ebanon, Norwich and Enfield all reflected modest decrease
• Average Sale Price also varied by town:
$
-H anover, Lyme, Thetford and West Fairlee all exhibited increases -N orwich, Woodstock, Pomfret and Fairlee all exhibited decreases -L ebanon, Cornish, Hartford and Barnard were all relatively flat
• Average Days on Market also varied by town: -N orwich, Lyme, Weathersfield, Cornish, Hartford, Barnard and West Fairlee all exhibited increases -W oodstock, Plainfield, Thetford and Bridgewater all exhibited decreases -E nfield, Pomfret, Sharon and Fairlee were all relatively flat
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 3 4
TOTAL SALES IN UNITS Number of Sales
KEY
200
+8.3%
Q3 YTD - 2016 -13.4%
183
Q3 YTD - 2015
169
157
150 136
+6.8%
+69.8% -6.6%
20
ford Hart
ford
10
Thet
h Corn is
field Plain
Wea thers field
Woo dsto ck
on Leba n
Lym e
ch Norw i
+10.0%
11
11
+40.0% +0.0% 25
21
11
0
Hano ver
-9.1%
28
15 16
10
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 3 5
7 7
5 5
7
7
e
20
26
-6.3%
Fairl e
18 19
26
-10.7%
+23.8%
+81.8%
lee
27 23
-23.1%
West Fair
28
+17.4%
gewa ter
53
-5.3%
76
Brid
56
d
50
71
Shar on
-50.0%
Barn ard
90
88
Enfie l
94
Pom fret
100
7 7
UPPER VALLEY REPORT
AVERAGE SALE PRICE Average Sale Price
KEY
700,000
Q3 YTD - 2016
+8.8%
Q3 YTD - 2015
-13.2%
525,000
-36.4%
+24.8%
+276% -34.6% -21.1%
350,000
-11.4%
-0.9%
+2.4% +25.4%
+1.9%
+18.8% +0.0%
+9.2%
-30.9%
-26.9%
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 3 6
281k
194k
Fairl ee
116k
438k
lee West Fair
235k
172k
gewa ter Brid
307k
242k
Shar on
257k
262k
Barn ard
493k
314k
Pom fret
206k
206k
ford Hart
202k
240k
ford Thet
178k
195k
d Enfie l
216k
221k
h Corn is
265k
235k
eld Plain fi
146k
377k
183k
rsfie ld Wea the
239k
246k
Woo dsto ck
241k
on Leba n
368k
459k
Lym e
509k
442k
ich Norw
554k
Hano ver
0
603k
175,000
AVERAGE DAYS ON MARKET Average Days on Market -55.3%
500
KEY Q3 YTD - 2016
479
Q3 YTD - 2015 375
+30.9% +0.9%
+38.8% +76.4%
-41.1%
333
291
250
280
+19.0%
240
168
165
185
-20.4%
+15.6%
+91.7% 272
-47.5%
+181.5%
214
200
125
-35.1%
356
332 329
202
186
170 166
165 140 144
+0.0%
133
120
83 83
74
250 248
+2.4%
215
-2.8%
183
255
+0.8%
106
93 65
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 37
Fairl ee
West Fairl ee
gewa ter Brid
Shar on
Barn ard
Pom fret
rd Hart fo
rd Thet fo
d Enfie l
h Corn is
field Plain
rsfie ld Wea the
Woo dsto ck
on Leba n
Lym e
ch Norw i
Hano ver
0
LUXURY REPORT
$600k+ Vermont & New Hampshire
FSSIR is #1 in Total Sales in Units in Vermont & New Hampshire Combined
FSSIR has the highest total sales at $171,214,000
$
MLS#4485495
MLS#4515649
Average Days on Market tends to be higher for luxury properties
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 3 8
TOTAL SALES IN UNITS KEY
Total Sales
200 200
FSSIR Competitor A Competitor B
160 160
160 160
Competitor C
113
Competitor D
120 120 FSSIR Competitor A Competitor B 80 80 Competitor C Competitor D 40 40
97 113 97
58 44 22
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 3 9
44
LUXURY REPORT
$600k+ Vermont & New Hampshire
TOTAL SALES IN $000
KEY FSSIR
Total Sales in $000 225k 225,000
Competitor A
180k 180,000
Competitor B
Competitor C
172,214 171,214
Competitor D
135k 135,000 FSSIR Competitor A Competitor B 90k 90,000 Competitor C Competitor D 45k 45,000
114,888 114,883
79,902
46,383
46,383
34,510
34,510 33,100
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 4 0
AVERAGE DAYS ON MARKET
Average Days on Market KEY
212.5 212.5
FSSIR Competitor A Competitor B
170 170
Competitor C
162
162
Competitor D
127.5 127.5 FSSIR Competitor A Competitor B 8585 Competitor C Competitor D 42.5 42.5
156
156
156
114
156
114
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 4 1
78
78
LUXURY REPORT $600k+ Vermont
FSSIR is #1 in Vermont in Units and Dollars sold
MLS#4446649
FSSIR sold nearly twice as many properties as our next closest competitor
$ Average Days on Market increases the higher the price point
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 4 2
132
KEY
TOTAL SALES IN UNITS
Total Sales
140 140
FSSIR
132
Competitor A Competitor B Competitor C
105 105
Competitor D
FSSIR Competitor A 7070 Competitor B Competitor C Competitor D 3535
78 78
26 33 33
26
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 4 3
25
25
LUXURY REPORT $600k+ Vermont
TOTAL SALES IN $000
KEY FSSIR
130,184
Total Sales in $000
140k 140,000
Competitor A
130,184
Competitor B
105k 105,000
Competitor C
Competitor D
FSSIR 70k 70,000 Competitor A Competitor B Competitor C Competitor D 35k 35,000
61,468
61,468
25,200
36,421
25,163
36,421 25,200
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 4 4
25,163
AVERAGE DAYS ON MARKET
Average Days on Market KEY
400 400
FSSIR
339
Competitor A Competitor B Competitor C
339
300 300
Competitor D
FSSIR 200 Competitor A 200 Competitor B Competitor C Competitor D 100 100
257 179
179
257
131
107
131 107
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 4 5
LUXURY REPORT
$600k+ New Hampshire
FSSIR is #1 in New Hampshire for Total Units
MLS#4503715
MLS#4490208
FSSIR is #1 in Total Sales at $163,661,000
$ Average Days on Market tend to be higher for luxury properties
MLS#4388051
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 4 6
TOTAL SALES
Total Sales KEY FSSIR
200 200
153
Competitor A Competitor B
160 160
Competitor C Competitor D
142 129
153 120 120
FSSIR Competitor A Competitor B 80 80 Competitor C Competitor D 40 40
142 129
71
71
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 47
53 53
LUXURY REPORT
$600k+ New Hampshire
TOTAL SALES IN $000
KEY FSSIR
Total Sales in $000 180k 180000
163,661 129,233
Competitor A
163,661
Competitor B
135k 135000
117,214
Competitor C
Competitor D
129,233
FSSIR 90k 90000 Competitor A Competitor B Competitor C Competitor D 45k 45000
117,214
56,163
41,581
56,163 41,581
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 4 8
AVERAGE DAYS ON MARKET
Average Days on Market KEY
152
160 160
FSSIR
126
Competitor A Competitor B Competitor C
120 120
Competitor D
FSSIR 80 Competitor A 80 Competitor B Competitor C Competitor D 40 40
108
126
152
126 126
108
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 4 9
83 83
LUXURY REPORT
$1 Million+ Vermont & New Hampshire MANCHESTER, VT
FSSIR is #1 in Vermont & New Hampshire combined
FSSIR has sold more than twice as many properties as our next closest competitor FSSIR leads the category with $134,588,000 in Total Sales
$ FSSIR has lower Average Days on Market than most of our competitors
MLS#4507908
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 5 0
TOTAL SALES IN UNITS KEY FSSIR
Total Sales
8080
Competitor A Competitor B Competitor C
74 74
60 60
Competitor D
FSSIR 40 Competitor A 40 Competitor B Competitor C Competitor D 2020
33 33
23
22
23
22
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 5 1
20 20
LUXURY REPORT
$1 Million+ Vermont & New Hampshire
TOTAL SALES IN $000
KEY FSSIR
Total Sales in $000 175k 175,000
134,588
Competitor A
140k 140,000
Competitor B
Competitor C
134,588
Competitor D
105k 105,000 FSSIR Competitor A Competitor B 70k 70,000 Competitor C Competitor D 35k 35,000
58,799
58,799
40,486
30,335
40,486 30,335
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 5 2
33,100 33,100
AVERAGE DAYS ON MARKET
KEY
Average Days on Market 400 400
352
FSSIR Competitor A Competitor B Competitor C
352
300 300
Competitor D
FSSIR 200 Competitor A 200 Competitor B Competitor C Competitor D 100 100
00
217
198 142
217
198
142
49 49
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 5 3
LUXURY REPORT $1 Million+ Vermont
MLS#4424771
FSSIR is #1 in Total Units Sold
FSSIR sold as many properties as our next 3 closest competitors combined FSSIR sold $55,908,000
$ FSSIR has one of the lower Average Days on Market
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 5 4
TOTAL SALES IN UNITS KEY FSSIR
Total Sales
40 40
Competitor A Competitor B Competitor C
31
3030
Competitor D
FSSIR Competitor A 2020 Competitor B Competitor C Competitor D 1010
31
18
18
7
7
6
6
6
6
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 5 5
LUXURY REPORT
Defined as $1 Million+ Vermont
TOTAL SALES IN $000
KEY FSSIR
55,908
Total Sales in $000
60k 60,000 55, 908
Competitor A Competitor B
45k 45,000
Competitor C
Competitor D
FSSIR 30k 30,000 Competitor A Competitor B Competitor C Competitor D 15k 15,000
29,606 29,606
13,432
10,390
11,100
10,390
11,110
13,432
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 5 6
AVERAGE DAYS ON MARKET
KEY
Average Days on Market 500 500
FSSIR Competitor A Competitor B
356
381
400 400
Competitor C Competitor D
381
300 300
FSSIR Competitor A Competitor B 200 200 Competitor C Competitor D 100 100
356
204
204
179
183
179
183
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 57
LUXURY REPORT
$1 Million+ New Hampshire
FSSIR ranked #1 in Total Units Sold
FSSIR ranked #1 in Total Sales at $86,069,000
$ FSSIR has one of the lower Average Days on Market
MLS#4374987
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 5 8
TOTAL SALES IN UNITS KEY FSSIR
47
Total Sales
50 50
Competitor A Competitor B Competitor C
47 37.5 37.5
33
Competitor D
FSSIR 25 Competitor A 25 Competitor B Competitor C Competitor D 12.5 12.5
22 33
22
20
20
20
20
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 5 9
LUXURY REPORT
Defined as $1 Million+ New Hampshire
TOTAL SALES IN $000
KEY FSSIR
Total Sales in $000 112.5k 112500
86,069
Competitor A
90k 90000
Competitor B
Competitor C Competitor D
67.5k 67500 FSSIR Competitor A Competitor B 45k 45000 Competitor C Competitor D 22.5k 22500
86,069
58,799
44,335
58,799
30,335
33,100 44,335
30,335
33,100
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 6 0
AVERAGE DAYS ON MARKET KEY
275 275
FSSIR Competitor A Competitor B
198
217
220 220
Competitor C Competitor D
217 165 165
FSSIR 110 110 Competitor A Competitor B Competitor C 55 55 Competitor D
198
109
109
102
49 49
00
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 3 Y T D 2 0 1 6 M A R K E T R E P O R T | 6 1
102
VERMONT & NEW HAMPSHIRE OFFICE LOCATIONS
NORTH EAST KINGDOM
CHAMPLAIN VALLEY REGION
GREAT NORTH WOODS REGION
South Burlington 802.864.0541
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
WHITE MOUNTAIN REGION
Meredith 603.677.7012
Hanover - Main St. 603.643.6400 Hanover - Lebanon St. 603.643.6070 West Lebanon 603.298.5155
UPPER VALLEY REGION
Wolfeboro 603.941.1000
LAKES REGION
Okemo 802.228.4537 Manchester 802.362.4551
Mount Snow 802.464.1200
Bromley 802.824.3113 SOUTHERN VERMONT REGION
New London 603.526.4050
LAKE SUNAPEE REGION
Stratton 802.297.1100
MERRIMACK VALLEY REGION MONADNOCK REGION
SEACOAST REGION
Bedford 603.413.7600