LUXURY
MARKET REPORT First Half 2018
LUXURY MARKET OVERVIEW FIRST HALF 2018
LUXURY IS AN EXPERIENCE We are proud to share our First Half 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 20 offices spread throughout Vermont and New Hampshire and is the leader in the Luxury Market with 42% more properties sold at $600K+ and 74% 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 - First Half 2018 - All VT & NH Counties Combined
THE LUXURY MARKET - VERMONT & NEW HAMPSHIRE The Luxury Market - defined as $600K+ and $1MM+ residential properties - began to pick up in the Second Quarter in Vermont and New Hampshire as the selling season heads into it’s traditionally peak Summer time period. Total properties sold increased 18% for homes $600k+ and was up 13% for homes over $1MM+ in Vermont and New Hampshire combined during First Half 2018. However, the Average Sale Price decreased slightly by 2% for both $600K+ and $1MM+ properties while the Average Days on Market actually decreased for $600K+ properties by 12% and remained relatively flat for $1MM+ at just +2%. 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 the economy continues to be strong , we expect this trend to continue through the Summer and Fall of 2018. However, the new federal tax bill may have an impact on the higher end, second home market in the foreseeable future. *Source: Trendgraphix Data - First Half 2017-2018 - All VT & NH Counties Combined
LUXURY REPORT $600K+
FIRST HALF 2017
FIRST HALF 2018
664
782
18%
$926,083
$904,385
2%
154
136
12%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
% CHANGE
Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2018 - 6/30/2018
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JUL. 2017 - JUN. 2018)
For Sale
2500
Sold Pended 2103
2098
2099 2003
2000
1936 1814
1813 1624 1481
1500
1620
1561
1487
1000
500
0
164 142
7/17
179 191
8/17
154 150
9/17
169 161
10/17
108 135
11/17
108 144
12/17
101 84
1/18
141
75
2/18
153
186 114
3/18
153
4/18
216 166
5/18
213 197
6/18
LUXURY REPORT $600K+ TOTAL SALES IN $
TOTAL SALES IN UNITS
(JAN. 2018 - JUN. 2018)
(JAN. 2018 - JUN. 2018)
59M
71
161
75
150.3M
60.7M
73.3M
78 113
FSSIR
98.6M
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
*Source: Trendgraphix Data - First Half 2018 - All VT & NH Counties Combined
COMPETITOR 4
LUXURY REPORT $1MM+
FIRST HALF 2017
FIRST HALF 2018
143
162
13%
$1,613,576
$1,578,028
2%
173
176
2%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
% CHANGE
Source: (Data) NNEREN 1/1/17 - 6/30/17 and 1/1/18 - 6/30/18 | (Graphs) Trendgraphix utilizing NNEREN data 7/01/2018 - 6/30/2018
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JUL. 2017 - JUN. 2018)
For Sale
800 730
Sold
712
699
700
Pended
687 629
642
620 587
600
564 522
525
515
500 400 300
200 100 46
0
54 34
7/17
32
8/17
38
43
9/17
36
48
10/17
24 35
25 35
11/17
12/17
24 20
1/18
37
13 18
28 27
2/18
3/18
36
33
4/18
44
53 29
5/18
42
6/18
LUXURY REPORT $1MM+ TOTAL SALES IN UNITS
TOTAL SALES IN $
(JAN. 2018 - JUN. 2018)
(JAN. 2018 - JUN. 2018)
17
29.6M
40
18
59.1M 30.1M
20
31.4M
23
8
FSSIR
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
*Source: Trendgraphix Data - First Half 2018 - All VT & NH Counties Combined
34.2M
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 West Lebanon: 603.298.5155
SOUTHERN NEW HAMPSHIRE Bedford: 603.413.7600
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