Upper Valley Q1 2023 Market Report

Page 1

Upper Valley New Hampshire & Vermont

Q1 Market Report 2023
21 Rope Ferry Road | Hanover, NH | Closed
337
Mount Support Road #603 | Lebanon, NH | Under Contract

Market Overview At A Glance

UPPER VALLEY

The Upper Valley region housing market was relatively quiet in Q1 2023 as the market started to return to a more traditional selling period in the Spring/Summer.

Limited inventory remained a major driving factor, and the total number of units sold was down by 49.4% across the Upper Valley region. Additionally, the average sales price decreased by 40.1%, and the average days on market decreased by 51.2%.

The hottest markets in the Upper Valley in terms of activity included Hanover, Woodstock, Norwich, Haverhill as these markets saw no reprieve from inventory scarcity and, as a result, continued to drive up prices. There is a full breakdown by state and town in this report for more details at a local market level.

Moving into Spring/Summer 2023, we have begun to see a slight uptick in listings coming on the market. The market will continue to normalize, but we anticipate that buyer demand will continue to be active, driven by limited inventory and that pricing will continue to stabilize. Pricing appropriately for Sellers will become of the utmost importance in order to sell in a timely manner.

Now more than ever, you need an experienced real estate professional to guide you through this ever-changing market.

179 Fox Lane #4027 | Quechee, VT | Closed

Key Market Highlights

UPPER VALLEY REGION

OVERVIEW VT & NH VERMONT
HAMPSHIRE
NEW
211 Freeman Road | Plainfield, NH | Closed

Upper Valley VT & NH Overview

All Properties | All Price Points

Source: Trendgraphix Data - (1/1/23 - 3/31/23) vs. Previous Year To Date (1/1/22 - 3/31/22) All Property Types - All Price Points - Upper Valley VT & NH Select Towns Upper Valley VT & NH 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/ - % TOTAL SALES IN UNITS: 44.0 87.0 - 49.4% TOTAL SALES DOLLARS: $27,551 $60,314 - 54.3% AVERAGE SALE PRICE: $676,472 $723,657 - 7.8% AVERAGE DAYS ON MARKET: 41.3 68.9 - 51.2% SOLD PRICE VS. LIST PRICE: 98.58% 99.53% - 1.0%
209 Dartmouth College Highway | Haverhill, NH | Closed
2346 Quechee Main Street | Quechee, VT | Active
Upper Valley Vermont

Upper Valley VT by Town

All Properties | All Price Points

BARNARD 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 5 2 + 150.0% AVERAGE SALE PRICE: $500,300 $1,167.8 - 57.2% AVERAGE DAYS ON MARKET: 45.0 72.0 - 37.5% SOLD PRICE VS. LIST PRICE: 88.42% 91.09% - 2.9% BETHEL 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 3 7 - 57.1% AVERAGE SALE PRICE: $280,100 $203,400 + 37.7% AVERAGE DAYS ON MARKET: 23.0 131.0 - 82.4% SOLD PRICE VS. LIST PRICE: 98.98% 98.75% + 0.2% BRADFORD 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 4 7 - 42.9% AVERAGE SALE PRICE: $171,600 $268,600 - 36.1% AVERAGE DAYS ON MARKET: 16.0 59.0 - 72.9% SOLD PRICE VS. LIST PRICE: 96.96% 91.24% + 6.3% BRIDGEWATER 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 0 4 - 100.0% AVERAGE SALE PRICE: 0.0 $261,000 - 100.0% AVERAGE DAYS ON MARKET: 0.0 92.0 - 100.0% SOLD PRICE VS. LIST PRICE: 0.00% 101.36% - 100.0% CHELSEA 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 2 0 N/A AVERAGE SALE PRICE: $231,500 0.0 N/A AVERAGE DAYS ON MARKET: 24.0 0.0 N/A SOLD PRICE VS. LIST PRICE: 103.35% 0.00% N/A
FAIRLEE 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 1 1 0.0% AVERAGE SALE PRICE: $535,100 $950,000 - 43.7% AVERAGE DAYS ON MARKET: 6.0 3.0 + 100.0% SOLD PRICE VS. LIST PRICE: 101.92% 100.00% + 1.9% CORINTH 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 0 6 - 100.0% AVERAGE SALE PRICE: 0.0 $181,600 - 100.0% AVERAGE DAYS ON MARKET: 0.0 64.0 - 100.0% SOLD PRICE VS. LIST PRICE: 0.00% 100.23% - 100.0% HARTFORD 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 34 36 - 5.6% AVERAGE SALE PRICE: $342,100 $306,800 + 11.5% AVERAGE DAYS ON MARKET: 39.0 55.0 - 29.1% SOLD PRICE VS. LIST PRICE: 99.92% 97.44% + 2.5% HARTLAND 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 5 11 - 54.5% AVERAGE SALE PRICE: $397,400 $317,900 + 25.0% AVERAGE DAYS ON MARKET: 114.0 113.0 + 0.9% SOLD PRICE VS. LIST PRICE: 93.55% 94.69% - 1.2% NEWBURY 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 7 8 - 12.5% AVERAGE SALE PRICE: $217,700 $291,300 - 25.3% AVERAGE DAYS ON MARKET: 74.0 52.0 + 42.3% SOLD PRICE VS. LIST PRICE: 90.55% 98.84% - 8.4% NORWICH 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 7 8 - 12.5% AVERAGE SALE PRICE: $1,298,000 $1,049,100 + 23.7% AVERAGE DAYS ON MARKET: 100.0 141.0 - 29.1% SOLD PRICE VS. LIST PRICE: 98.83% 99.92% - 1.1%
ROYALTON 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 0 5 - 100.0% AVERAGE SALE PRICE: 0.0 $228,200 - 100.0% AVERAGE DAYS ON MARKET: 0.0 93.0 - 100.0% SOLD PRICE VS. LIST PRICE: 0.00% 93.82% - 100.0% RANDOLPH 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 7 15 - 53.3% AVERAGE SALE PRICE: $256,600 $226,300 + 13.4% AVERAGE DAYS ON MARKET: 193.0 123.0 + 56.9% SOLD PRICE VS. LIST PRICE: 98.08% 100.41% - 2.3% SHARON 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 1 2 - 50.0% AVERAGE SALE PRICE: $162,000 $58,000 + 179.3% AVERAGE DAYS ON MARKET: 90.0 118.0 - 23.7% SOLD PRICE VS. LIST PRICE: 98.18% 80.56% + 21.9% STRAFFORD 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 1 1 0.0% AVERAGE SALE PRICE: $410,000 $352,000 + 16.5% AVERAGE DAYS ON MARKET: 47.0 4.0 + 1075.0% SOLD PRICE VS. LIST PRICE: 91.11% 108.31% - 15.9% THETFORD 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 2 7 - 71.4% AVERAGE SALE PRICE: $229,500 $355,700 - 35.5% AVERAGE DAYS ON MARKET: 25.0 103.0 - 75.7% SOLD PRICE VS. LIST PRICE: 92.17% 98.69% - 6.6%% POMFRET 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 1 5 - 80.0% AVERAGE SALE PRICE: $570,000 $381,400 + 49.4% AVERAGE DAYS ON MARKET: 5.0 140.0 - 96.4% SOLD PRICE VS. LIST PRICE: 114.23% 101.65% + 12.4%
TUNBRIDGE 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 5 3 + 66.7% AVERAGE SALE PRICE: $355,800 $400,700 - 11.2% AVERAGE DAYS ON MARKET: 84.0 92.0 - 8.7% SOLD PRICE VS. LIST PRICE: 99.16% 94.87% + 4.5% WEATHERSFIELD 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 6 7 -14.3% AVERAGE SALE PRICE: $271,100 $248.100 + 9.3% AVERAGE DAYS ON MARKET: 64.0 174.0 - 4.2% SOLD PRICE VS. LIST PRICE: 96.95% 97.58% - 63.2% VERSHIRE 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 3 0 N/A AVERAGE SALE PRICE: $367,700 0.0 N/A AVERAGE DAYS ON MARKET: 94.0 0.0 N/A SOLD PRICE VS. LIST PRICE: 96.75% 0.00% N/A WEST FAIRLEE 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 3 0 N/A AVERAGE SALE PRICE: $367,700 0.0 N/A AVERAGE DAYS ON MARKET: 94.0 0.0 N/A SOLD PRICE VS. LIST PRICE: 96.75% 0.00% N/A WINDSOR 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 10 7 + 42.9% AVERAGE SALE PRICE: $170,900 151,600 + 12.7% AVERAGE DAYS ON MARKET: 62.0 99.0 - 37.4% SOLD PRICE VS. LIST PRICE: 94.58% 97.61% - 3.1% WEST WINDSOR 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 1 13 - 92.3% AVERAGE SALE PRICE: $278,000 $329,100 - 15.5% AVERAGE DAYS ON MARKET: 127.0 128.0 - 0.8% SOLD PRICE VS. LIST PRICE: 92.98% 95.70% - 2.8%
WOODSTOCK 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 20 16 + 25.0% AVERAGE SALE PRICE: $1,081,600 $706,200 + 53.2% AVERAGE DAYS ON MARKET: 128.0 67.0 + 91.0% SOLD PRICE VS. LIST PRICE: 93.44% 99.36% - 6.0% 253
Closed
Old Quechee Road #6E | Quechee, VT |
707 Bowman Road #04-0238 | Barnard, VT | Under Contract
21 Rope Ferry Road | Hanover, NH | Closed

Upper Valley New Hampshire

Upper Valley NH by Town

All Properties | All Price Points

CANAAN 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 20 19 + 5.3% AVERAGE SALE PRICE: $236,500 $205,800 + 14.9% AVERAGE DAYS ON MARKET: 88.0 88.0 0.0% SOLD PRICE VS. LIST PRICE: 96.25% 95.28% + 1.0% CHARLESTOWN 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 14 13 + 7.7% AVERAGE SALE PRICE: $150,000 182.9 - 18.0% AVERAGE DAYS ON MARKET: 51.0 30.0 + 70.0% SOLD PRICE VS. LIST PRICE: 100.00% 98.15% + 1.9% CLAREMONT 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 34 37 - 8.1% AVERAGE SALE PRICE: $171,700 $193,400 - 11.2% AVERAGE DAYS ON MARKET: 52.0 21.0 + 147.6% SOLD PRICE VS. LIST PRICE: 95.39% 108.32% - 11.9% CORNISH 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 5 1 + 400.0% AVERAGE SALE PRICE: $237,200 $935,000 - 74.6% AVERAGE DAYS ON MARKET: 12.0 92.0 - 87.0% SOLD PRICE VS. LIST PRICE: 94.58% 78.24% + 20.9% CROYDON 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 4 1 + 300.0% AVERAGE SALE PRICE: $316,700 $78,000 + 306.0% AVERAGE DAYS ON MARKET: 85.0 13.0 + 553.8% SOLD PRICE VS. LIST PRICE: 95.03% 86.67% + 9.6%
ENFIELD 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 7 14 - 50.0% AVERAGE SALE PRICE: $361,300 $231,600 + 56.0% AVERAGE DAYS ON MARKET: 22.0 36.0 - 38.9% SOLD PRICE VS. LIST PRICE: 94.01% 101.12% - 7.0% DORCHESTER 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 0 4 - 100.0% AVERAGE SALE PRICE: 0.0 $142,300 - 100.0% AVERAGE DAYS ON MARKET: 0.0 76.0 - 100.0% SOLD PRICE VS. LIST PRICE: 0.00% 89.05% - 100.0% GRAFTON 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 5 7 - 28.6% AVERAGE SALE PRICE: $160,400 $153,900 + 4.2% AVERAGE DAYS ON MARKET: 82.0 78.0 + 5.1% SOLD PRICE VS. LIST PRICE: 95.70% 94.39% 1.4% GRANTHAM 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 14 9 + 55.6% AVERAGE SALE PRICE: $369,500 $429,200 - 13.9% AVERAGE DAYS ON MARKET: 115.0 156.0 - 26.3% SOLD PRICE VS. LIST PRICE: 100.87% 100.77% + 0.1% HANOVER 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 12 12 0.0% AVERAGE SALE PRICE: $1,137,300 $1,125,300 + 1.1% AVERAGE DAYS ON MARKET: 48.0 66.0 - 27.3% SOLD PRICE VS. LIST PRICE: 96.95% 95.02% + 2.0% HAVERHILL 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 23 16 + 43.8% AVERAGE SALE PRICE: $176,400 $165,100 + 6.8% AVERAGE DAYS ON MARKET: 75.0 90.0 - 16.7% SOLD PRICE VS. LIST PRICE: 97.47% 94.77% + 2.8%
LYME 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 8 5 + 60.0% AVERAGE SALE PRICE: $1,017,800 $1,050,300 - 3.1% AVERAGE DAYS ON MARKET: 31.0 24.0 + 29.2% SOLD PRICE VS. LIST PRICE: 94.63% 97.63% - 3.1% LEBANON 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 33 37 - 10.8% AVERAGE SALE PRICE: $455,200 $362,000 + 25.7% AVERAGE DAYS ON MARKET: 23.0 56.0 - 58.9% SOLD PRICE VS. LIST PRICE: 100.01% 101.63% - 1.6% NEW LONDON 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 18 16 + 12.5% AVERAGE SALE PRICE: $508,400 $973,700 - 47.8% AVERAGE DAYS ON MARKET: 49.0 21.0 + 133.3% SOLD PRICE VS. LIST PRICE: 95.76% 99.65% - 3.9% NEWPORT 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 13 32 - 59.4% AVERAGE SALE PRICE: $232,400 $183,200 + 26.9% AVERAGE DAYS ON MARKET: 70.0 98.0 - 28.6% SOLD PRICE VS. LIST PRICE: 97.50% 98.95% - 1.5% NEWBURY 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 5 14 - 64.3% AVERAGE SALE PRICE: $513,000 $556,500 - 7.8% AVERAGE DAYS ON MARKET: 5.0 49.0 - 89.8% SOLD PRICE VS. LIST PRICE: 100.87% 102.62% - 1.7% ORANGE 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 1 0 N/A AVERAGE SALE PRICE: $250,000 0.0 N/A AVERAGE DAYS ON MARKET: 277.0 0.0 N/A SOLD PRICE VS. LIST PRICE: 87.11% 0.00% N/A
PIERMONT 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 1 2 - 50.0% AVERAGE SALE PRICE: $229,000 $259,500 - 11.8% AVERAGE DAYS ON MARKET: 122.0 2.0 + 6000.0% SOLD PRICE VS. LIST PRICE: 99.57% 102.77% - 3.1% SUNAPEE 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 9 11 - 18.2% AVERAGE SALE PRICE: $670,400 $362,100 + 85.1% AVERAGE DAYS ON MARKET: 43.0 63.0 - 31.7% SOLD PRICE VS. LIST PRICE: 102.70% 97.42% + 5.4% ORFORD 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 1 1 0.0% AVERAGE SALE PRICE: $399,900 $279,000 + 43.3% AVERAGE DAYS ON MARKET: 53.0 37.0 + 43.2% SOLD PRICE VS. LIST PRICE: 100.23% 100.00% + 0.2% SPRINGFIELD 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 3 12 - 75.0% AVERAGE SALE PRICE: $369,700 $399,400 - 7.4% AVERAGE DAYS ON MARKET: 17.0 59.0 - 71.2% SOLD PRICE VS. LIST PRICE: 102.50% 96.70% + 6.0% PLAINFIELD 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 5 5 0.0% AVERAGE SALE PRICE: $499,000 $169,800 + 193.9% AVERAGE DAYS ON MARKET: 92.0 97.0 - 5.2% SOLD PRICE VS. LIST PRICE: 98.15% 93.92% + 4.5% UNITY 1/1/23 - 3/31/23 1/1/22 - 3/31/22 +/- % TOTAL SALES IN UNITS: 3 7 - 57.1% AVERAGE SALE PRICE: $74,800 $197,800 - 62.2% AVERAGE DAYS ON MARKET: 44.0 92.0 - 52.2% SOLD PRICE VS. LIST PRICE: 86.35% 99.25% - 13.0%

Vermont

New York

Champlain Valley South Burlington: 802.864.0541

Hudson Valley Kingston: 845.331.3100

Rhinebeck: 845.876.5100

Central Vermont

Tivoli: 845.757.5000

Rutland: 802.774.7007

Catskill: 518.943.7533

Killington: 802.746.4203

Hudson: 518.822.0800

Stowe: 802.253.7267

Upstate New York

Northeast Kingdom

Saratoga Springs: 518.580.8500

St. Johnsbury: 802.751.7582

Bolton Landing: 518.644.9500

Southern Vermont

Lake Placid: 518.523.2550

Mount Snow: 802.464.1200

Central New York

Stratton: 802.297.1100

Syracuse: 315.685.8100

Manchester: 802.362.4551

Okemo: 802.228.4537

Thousand Islands Region: 315.685.8100

Upper Valley

Fairlee: 802.333.4701

Finger Lakes Region: 315.685.8100

Western New York

Buffalo: 716.320.1414

Rochester: 585.394.7111

New Hampshire New York

Lake Sunapee Region New London: 603.526.4050

Lakes Region of New Hampshire Meredith: 603.677.7012

Southern New Hampshire Bedford: 603.413.7600

Peterborough: 603.924.3321

Upper Valley Hanover: 603.643.6070

Vermont

Champlain Valley South Burlington: 802.864.0541

Hudson Valley Kingston: 845.331.3100

Rhinebeck: 845.876.5100

Central Vermont

Tivoli: 845.757.5000

Rutland: 802.774.7007

Catskill: 518.943.7533

Killington: 802.746.4203

Hudson: 518.822.0800

Stowe: 802.253.7267

Upstate New York

Northeast Kingdom St. Johnsbury: 802.751.7582

Saratoga Springs: 518.580.8500

Bolton Landing: 518.644.9500

Southern Vermont

Lake Placid: 518.523.2550

Mount Snow: 802.464.1200

Central New York

Stratton: 802.297.1100

Syracuse: 315.685.8100

Manchester: 802.362.4551

Okemo: 802.228.4537

Thousand Islands Region: 315.685.8100

Upper Valley Fairlee: 802.333.4701

Finger Lakes Region: 315.685.8100

Western New York

Buffalo: 716.320.1414

Rochester: 585.394.7111

FourSeasonsSIR.com

Each Office is Independently Owned and Operated

603.526.4050 Hampshire Hampshire 603.924.3321 Hampshire FourSeasonsSIR.com
New Lakes Southern Peterborough: New
201 Fiske Road | Newbury, VT | Closed

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