LUXURY
MARKET REPORT YEAR END 2018
MLS#4725107
LUXURY MARKET OVERVIEW YEAR END 2018
LUXURY IS AN EXPERIENCE MLS#4693161
We are proud to share our Year End 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 +34% more properties sold at $600K+ and +19% 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-Q4 2018 - All VT & NH Counties Combined
THE LUXURY MARKET - VERMONT & NEW HAMPSHIRE The Luxury Market - defined as $600K+ and $1MM+ residential properties reflected mixed results in Vermont and New Hampshire during 2018. Total properties sold increased +15% for homes $600k+ and was up +7% for homes over $1MM+ in Vermont and New Hampshire combined during the Q1 - Q4 2018 time period. However, the Average Sale Price decreased slightly by -3% for $600K+ properties and just under -3% for $1MM+ properties. Additionally, Average Days on Market decreased for $600K+ properties by -18% and -19% 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 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-Q4 2017-2018 - All VT & NH Counties Combined
MLS#4656697
LUXURY REPORT $600K+
YEAR END 2017
YEAR END 2018
% CHANGE
1,520
1,747
15%
$936,243
$910,462
3%
148
121
18%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: NNEREN 1/1/17 - 12/31/17 and 1/1/18 - 12/31/18 — All VT & NH Counties Combined
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2018 - DEC. 2018)
For Sale
2500
Sold Pended
2000
2012
1936
1983
1968 1873
1814
1500
1481
1561
1487
1692
1620
1524
1000
500
0
101 84
1/18
141
74
2/18
153
186 114
3/18
153
4/18
215 166
5/18
195 204
6/18
184 188
7/18
206 240
8/18
171 156
9/18
Source: Trendgraphix utilizing NNEREN data 1/1/2018 - 12/31/2018 — All VT & NH Counties Combined
158 178
10/18
114 173
93 111
11/18
12/18
LUXURY REPORT $600K+ TOTAL SALES IN $
TOTAL SALES IN UNITS
(JAN. 2018 - DEC. 2018)
(JAN. 2018 - DEC. 2018)
132.5M
157
339
169
325.9M
139.5M
176.6M
174
223.3M
253
FSSIR
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
COMPETITOR 4
*Source: Trendgraphix Data - 1/1/18 - 12/31/18 — All VT & NH Counties Combined
MLS#4699747
MLS#4710986
LUXURY REPORT $1MM+
YEAR END 2017
YEAR END 2018
345
370
7%
$1,629,444
$1,585,134
3%
182
147
19%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
% CHANGE
Source: NNEREN 1/1/17 - 12/31/17 and 1/1/18 - 12/31/18 — All VT & NH Counties Combined
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2018 - DEC. 2018)
For Sale
700
Sold 620
Pended
600
659
642
662
657
631 574
564 522
527
525
515
500
400
300
200
100
0
24 20
1/18
37
13 13
28 27
36
2/18
3/18
4/18
33
44
49 29
43
5/18
6/18
40
50 42
7/18
54
8/18
36
37
9/18
Source: Trendgraphix utilizing NNEREN data 1/1/2018 - 12/31/2018 — All VT & NH Counties Combined
38
35
26 46
18 20
10/18
11/18
12/18
LUXURY REPORT $1MM+ TOTAL SALES IN UNITS
TOTAL SALES IN $
(JAN. 2018 - DEC. 2018)
(JAN. 2018 - DEC. 2018)
33
55.8M
95
44
77.6M
53
81.5M
53
8
FSSIR
COMPETITOR 1
142.6M
COMPETITOR 2
COMPETITOR 3
88.6M
COMPETITOR 4
*Source: Trendgraphix Data - 1/1/18 - 12/31/18 — All VT & NH Counties Combined
MLS#4726540
MLS#4731138
MLS#4721162
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
UPPER VALLEY
St. Johnsbury: 802.751.7582
Fairlee: 802.333.4701 Hanover: 6 03.643.6070
LAKE SUNAPEE REGION
SOUTHERN NEW HAMPSHIRE
New London: 603.526.4050
Bedford: 603.413.7600
FourSeasonsSIR.com Each Office is Independently Owned and Operated