LUXURY
MARKET REPORT Q1-Q3 2018
LUXURY MARKET OVERVIEW Q1-Q3 2018
LUXURY IS AN EXPERIENCE We are proud to share our Q1 - Q3 2018 Luxury Market Report for the Vermont and New Hampshire real estate market. In this report you will find market trends for the Luxury Market defined as homes sold $600K+ as well as homes sold over $1MM in order to provide you with the most updated information so that you can make the most informed decisions as you evaluate your real estate options. Four Seasons Sotheby’s International Realty has offices spread throughout Vermont and New Hampshire and is the leader in the Luxury Market with ~32% more properties sold at $600K+ and ~60% more properties sold at $1MM+ than our next closest competitor within Vermont and New Hampshire. We are committed to providing you with the highest level of service and expertise to Buyers and Sellers. It would be our privilege to serve you for all of your real estate needs throughout Vermont and New Hampshire.
Staige Davis - CEO *Source: Trendgraphix Data - Q1-Q3 2018 - All VT & NH Counties Combined
THE LUXURY MARKET - VERMONT & NEW HAMPSHIRE The Luxury Market - defined as $600K+ and $1MM+ residential properties - picked up in Vermont and New Hampshire during the traditional peak Summer buying time period. Total properties sold increased 19% for homes $600k+ and was up 16% for homes over $1MM+ in Vermont and New Hampshire combined during the Q1 - Q3 2018 time period. However, the Average Sale Price decreased slightly by 2% for $600K+ properties and just under 1% for $1MM+ properties. Additionally, Average Days on Market decreased for $600K+ properties by 14% and 13% for $1MM+ properties sold. Pricing appropriately in this type of marketplace is critical and many sellers have had to adjust their pricing expectations from buyers in order to be competitive. As long as current economic indicators remain consistent, we expect this trend to continue throughout the remainder of 2018 and into 2019. However, the new federal tax bill has injected some uncertainty into the decision making process for many. It remains to be seen what the long term impact of the changes in the tax law will have on the top end of the market. *Source: Trendgraphix Data - Q1-Q3 2017-2018 - All VT & NH Counties Combined
LUXURY REPORT $600K+
Q1-Q3 2017
Q1-Q3 2018
% CHANGE
1102
1307
19%
$925,306
$911,638
2%
144
124
14%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18 — All VT & NH Counties Combined
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (OCT. 2017 - SEPT. 2018)
For Sale
2500
Sold Pended
2000
1917
1918
1840 1730
1895
1878
1729 1547
1500
1409
1490
1425
1543
1000
500
0
158 149
10/17
101 129
11/17
103139
12/17
98 79
1/18
130
70
2/18
147 108
3/18
208
174 139
4/18
159
5/18
189
192
171 197
6/18
Source: Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018 — All VT & NH Counties Combined
179
7/18
227
8/18
176 146
9/18
LUXURY REPORT $600K+ TOTAL SALES IN $
TOTAL SALES IN UNITS
(JAN. 2018 - SEPT. 2018)
(JAN. 2018 - SEPT. 2018)
100.9M
124
262
131
250.6M
105.9M
143.6M
139
177.1M
199
FSSIR
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
*Source: Trendgraphix Data - Q1-Q3 2018 - All VT & NH Counties Combined
COMPETITOR 4
LUXURY REPORT $1MM+
Q1-Q3 2017
Q1-Q3 2018
238
276
16%
$1,619,421
$1,604,656
.9%
173
150
13%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
% CHANGE
Source: NNEREN 1/1/17 - 9/30/17 and 1/1/18 - 9/30/18 — All VT & NH Counties Combined
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (OCT. 2017 - SEPT. 2018)
For Sale
700 656
Sold Pended
599
612.5
560
624
622
608
590
625
536
525
496
500
495
437.5 350 262.5
175 87.5 34
0
41
10/17
21 32
11/17
24 34
12/17
22 18
1/18
33
13
2/18
27 25
3/18
34
29
4/18
41
48 28
5/18
41
6/18
Source: Trendgraphix utilizing NNEREN data 10/01/2017 - 9/30/2018 — All VT & NH Counties Combined
34
46 40
7/18
49
8/18
38
33
9/18
LUXURY REPORT $1MM+ TOTAL SALES IN UNITS
TOTAL SALES IN $
(JAN. 2018 - SEPT. 2018)
(JAN. 2018 - SEPT. 2018)
27
44.2M
69
34
105.1M 56.9M
41
72.1M
43
8
FSSIR
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
*Source: Trendgraphix Data - Q1-Q3 2018 - All VT & NH Counties Combined
67M
COMPETITOR 4
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
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