NORTHEAST KINGDOM
MARKET REPORT Q1 — Q3 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#4722001
MARKET OVERVIEW
Q1 — Q3 2018
KNOWLEDGE IS POWER We are proud to share our Q1 - Q3 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 Q1 - Q3 2018 time period for the Northeast Kingdom Region of Vermont exhibited positive growth. Specifically, Caledonia County number of units sold increased +1.3%, total dollar volume increased +11.0%, the average sale price increased +9.3%, while the average days on market decreased - 9.7%. For Orleans County, the number of units sold increased +17.1%, total dollar volume increased +17.6%, the average sale price increased a modest +0.6%, while the average days on market decreased -4.4%. 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 throughout the remainder 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 19 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#4695379 Source: (Data) NNEREN Source: (Data) NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018
BURKE VERMONT
Q1 - Q3 2017
Q1 - Q3 2018
% CHANGE
28
46
64.3%
$199,726
$217,710
9%
202
205
1.5%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (OCTOBER 2017 - SEPTEMBER 2018)
For Sale
50
Sold
47
Pended
45
43 40
40
40 38 36
35
36
36
30
30 28
29
21
14
8
7
8
5
0
4
1 10/17
2
3
1 00
11/17
12/17
4
1/18
3
2/18
7
5 4
3/18
2
10
4/18
5/18
3 4
4
6/18
(Graphs) Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018
3 4
7/18
3
1
7
8/18
9/18
DANVILLE VERMONT
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Q1 - Q3 2017
Q1 - Q3 2018
% CHANGE
21
35
66.7%
$211,711
$178,020
15.9%
255
195
23.5%
Source: (Data) NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (OCTOBER 2017 - SEPTEMBER 2018)
For Sale
50
Sold Pended
43
42
42
41
40 38
33
25
25
24
25
20 18
17
17
18
8
0
7
1 1
10/17
2
3 0
1 2
11/17
12/17
1
1 2
1/18
2/18
0
3/18
1
3
4/18
3
5/18
6
5
4
4
6/18
(Graphs) Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018
0
7/18
6
5 2
8/18
3
9/18
PEACHAM VERMONT
Q1 - Q3 2017
Q1 - Q3 2018
% CHANGE
9
10
11%
$326,944
$151,450
53.7%
157
114
27.4%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (OCTOBER 2017 - SEPTEMBER 2018)
12
12
12
For Sale Sold
10
Pended
10
10 9
8
8
8
9
8
8 7 6
6
4
2
2 1
1 2
0 10/17
1
11/17
12/17
2
1
0
2
2 1
1
1/18
0
2/18
0
0
3/18
1
0
4/18
0
1
5/18
1
6/18
(Graphs) Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018
2
7/18
0
8/18
00
2
9/18
KIRBY VERMONT
Q1 - Q3 2017
Q1 - Q3 2018
% CHANGE
7
7
0%
$146,659
$240,357
63.9%
302
140
53.6%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (OCTOBER 2017 - SEPTEMBER 2018)
9
9
9
9
For Sale
8
8
Sold
8
8
8
Pended
8 7
7
6
6
6
5
3
2 1
0
0
10/17
0
0
11/17
0
0
0
12/17
0
1/18
0
1
0 2/18
1
0 3/18
1 1
4/18
0
5/18
1
1 1
6/18
(Graphs) Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018
1
00
1
7/18
8/18
0
9/18
2
LYNDON VERMONT
Q1 - Q3 2017
Q1 - Q3 2018
% CHANGE
48
42
12.5%
$120,371
$166,549
38.4%
201
153
23.9%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (OCTOBER 2017 - SEPTEMBER 2018)
For Sale
40
Sold Pended 34
34
33
34
33
32
31
30
33
32
31
30
30
27
20
13
7
8
7
6
6
5
4 4
0 10/17
2
11/17
4
3 4
1 5
12/17
2
1/18
0
2/18
1 00
2
3/18
4
4/18
4
5/18
6
6/18
(Graphs) Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018
8
7/18
2
8/18
7
9/18
BARNET VERMONT
Q1 - Q3 2017
Q1 - Q3 2018
% CHANGE
18
20
11%
$152,466
$205,350
34.7%
105
140
33.3%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (OCTOBER 2017 - SEPTEMBER 2018)
20
20
For Sale
18
Sold
18
17
Pended
16
15 14 12
12
12 11 10 9
9
8 6 5
4
4 3
3 2 1
0 10/17
0
11/17
2
1
12/17
1
0
1/18
1
1
2/18
0
0
3/18
0
1
4/18
3
5/18
6
6/18
(Graphs) Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018
1
4
7/18
8/18
2
1
9/18
ST. JOHNSBURY VERMONT
Q1 - Q3 2017
Q1 - Q3 2018
% CHANGE
78
53
30%
$137,465
$137,554
0.1%
179
166
2%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (OCTOBER 2017 - SEPTEMBER 2018)
60 For Sale Sold
53
52
Pended
50
48 46 44
43
41 39
40
39
38 35
34
30
20
10
10
10
9
7
7
4 6
0 10/17
8
11/17
3
12/17
5
3
1/18
5
4 2
4
2/18
1 11
3/18
4
4/18
5 7
5/18
5
6/18
(Graphs) Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018
7
7/18
8
8/18
5
9/18
SUTTON VERMONT
Q1 - Q3 2017
Q1 - Q3 2018
% CHANGE
10
9
10%
$125,150
$99,111
20.8%
171
62
63.7%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (OCTOBER 2017 - SEPTEMBER 2018)
14
14
For Sale 13
Sold
13
Pended
12 11
11 10
10
9
8
8 7
7 6
6
3
1
1 3
0 10/17
0
11/17
0
0
12/17
0
1
0 1/18
1 1
2/18
0
3/18
1
0
4/18
00
0
5/18
00
1
0 6/18
(Graphs) Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018
1 1
7/18
2
8/18
0
9/18
0
WATERFORD VERMONT
Q1 - Q3 2017
Q1 - Q3 2018
% CHANGE
23
17
26%
$148,793
$175,823
18.2%
184
124
32.6%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: (Data) NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (OCTOBER 2017 - SEPTEMBER 2018)
18 17
For Sale
17
Sold Pended
15
14
14 13 12
11
10
10 9
9
9
9
7
4 3
3 2 1 1
0 10/17
1 3
11/17
1 3
12/17
1/18
0
1 0
2/18
1
1 1
3/18
4/18
1
00 5/18
0
2 1
6/18
(Graphs) Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018
2
7/18
4
8/18
0
9/18
3
MEET THE TEAM Four Seasons Sotheby’s International Realty has 19 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. Connect with one of our experienced Northeast Kingdom Region professionals and let them put their local real estate knowledge to work for you.
SCOTT BOLLMAN
ROBIN JACOBS
CHERYL KERR
ROBIN MIGDELANY
Scott.Bollman@FourSeasonsSIR.com
Robin.Jacobs@FourSeasonsSIR.com
Cheryl.Kerr@FourSeasonsSIR.com
Robin.Migdelany@FourSeasonsSIR.com
C: 802.734.0082
MLS#4622913
C: 802.274.0212
C: 802.535.9676
C: 781.640.0337
BEN REED
C: 802.751.5515
Ben.Reed@FourSeasonsSIR.com
MLS#4702588 MLS#4695379
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
SOUTHERN NEW HAMPSHIRE Bedford: 603.413.7600
FourSeasonsSIR.com Each Office is Independently Owned and Operated