Luxury Market Report
Y E AR E N D 2020
LUXURY MARKET OVERVIEW YEAR END 2020
LUXURY IS AN EXPERIENCE We are pleased to share our Year-end 2020 Luxury Market Report covering both New Hampshire and Vermont. We define the Luxury Market in two ways; homes sold over $600K and homes sold over $1MM. This approach provides you with more detailed information to make an informed real estate buying and selling decision no matter the segment of the luxury market you are considering. Four Seasons Sotheby’s International Realty is the Luxury Market leader with +86% more properties sold in the $600K+ segment and +121% more properties sold over $1MM+ than our next closest competitor in the two states combined. These results are a direct consequence of our brand’s reach and power, together with our associates and staff’s ongoing commitment to providing the highest level of service and expertise to Buyers and Sellers alike. It would be our privilege to service all of your real estate needs throughout the beautiful states of Vermont and New Hampshire. Alan DiStasio - CEO Staige Davis - President *Source: Trendgraphix Data - 1/1/20 - 12/31/20 - All VT & NH Counties Combined
2020 - A Year Like No Other COVID-19 dramatically impacted the Luxury Market throughout 2020. Initially January and February sales were on pace to set a record for our company, but selling activity slowed dramatically in March, April, and May as complications and uncertainty surrounding Covid-19 started to mount. Then as the two states began to reopen in June, pending transactions rocketed to a torrid pace. By year’s end, all expectations had been greatly exceeded. Total properties sold in 2020 increased 66% for homes over $600k and were up 88% for homes over $1MM in the two states combined. Additionally, the Average Sale Price increased slightly by 3% for properties over $600K but increased a modest 1% for $1MM+ properties. Lastly, Average Days on Market decreased for listings over $600K by 13% and decreased slightly by 1% for all $1MM+ properties sold. New Hampshire New Hampshire exhibited a strong luxury market with the number of properties sold over $600K increasing 58% along with an average sale pricing up 1%. For listings over $1MM, the number of properties sold increased by 60%, while the average selling price increased by 1%. Vermont The impact of COVID-19 made it difficult to show properties in Vermont during the peak shutdown period, but that didn’t stop us from providing the best service possible while strictly adhering to CDC guidelines. The number of properties sold over $600K increased by 87%, and the average sale price increased 10%. The bright spot was in transactions over $1MM; the number of properties sold increased 171%, while the average sale price increased 2%. Gazing Into The Crystal Ball There is no question that the Luxury Market bounced back in an unsurpassed way after COVID-19 first took hold last spring. The result led to demand far outpacing supply. Bidding wars were commonplace, and we closed multiple transactions in both states without the buyers ever having set foot in the property until after it closed. None of us could have anticipated that this would be a part of the real estate narrative in 2020. In retrospect, it was easy to see what drove the market; the pandemic provided buyers an opportunity to assess where they would prefer to raise their families. They took a hard look at the healthy lifestyle that New Hampshire and Vermont provide and liked what they saw. Additionally, many companies re-evaluated their work from home policies, giving employees far more options where to live; many choose to live where they recreate. Financial markets remained strong, and interest rates remained at record lows, even for jumbo loans. So what does this mean for 2021? The lack of homes for sale remains a major impediment for buyers and sellers alike. However, we can report that three weeks into the new year, Four Seasons Sotheby’s International Realty continues to experience the same activity level we did in the second half of 2020. Work from home policies are becoming permanent for many employees, and interest rate projections indicate they will start to rise in 2021, albeit nominally. Newcomers to New Hampshire and Vermont continue to extol the benefits of living in our beautiful part of the world, and unfortunately, the pandemic will be with us for the foreseeable future as states wrestle with vaccine rollouts. Ultimately, we cannot say for certain how 2021 will wind up, but we do believe that current market activity will continue at least into the latter part of this year. Now more than ever, buyers and sellers alike will benefit from the local market knowledge our associates possess. Current market dynamics mean that our associate’s services are all the more valuable. Today, please call us to learn how one of our professional associates may best help you navigate the state of the luxury real estate market in New Hampshire and Vermont 2021. *Source: Trendgraphix Data - 1/1/20 - 12/31/20 - All VT & NH Counties Combined
LUXURY REPORT $600K+ VT & NH COMBINED
YEAR END 2019
YEAR END 2020
% CHANGE
1979
3,279
66%
$923,324
$952,631
3%
112
98
13%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: NNEREN 1/1/19 - 12/31/19 and 1/1/20 - 12/31/20 — All VT & NH Counties Combined
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2020 - DEC. 2020)
For Sale Sold
1500
Pended
1390
1355
1345
1350
1481
1438
1278
1236
1271 1199
1200
1105
1050
1005
900
861
750 600 524 469
450
493 396
380
300
304
295
233
150 0
130 103
1/20
159
149 88
2/20
134
3/20
134 140
4/20
143
5/20
251
6/20
367
7/20
414
8/20
459
9/20
Source: Trendgraphix utilizing NNEREN data 1/1/2020 - 12/31/2020 — All VT & NH Counties Combined
495
10/20
395
11/20
414
12/20
LUXURY REPORT $600K+ VT & NH COMBINED
TOTAL SALES IN $
TOTAL SALES IN UNITS
(JAN. 2020 - DEC. 2020)
(JAN. 2020 - DEC. 2020)
169M
220
631
258
688.9M
308.1M
259.6M
304
324M
339
FSSIR
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
COMPETITOR 4
*Source: Trendgraphix Data - 1/1/20 - 12/31/20 — All VT & NH Counties Combined
LUXURY REPORT $1MM+ VT & NH COMBINED
YEAR END 2019
YEAR END 2020
% CHANGE
422
793
88%
$1,636,051
$1,640,985
.3%
128
127
.8%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: NNEREN 1/1/19 - 12/31/19 and 1/1/20 - 12/31/20 — All VT & NH Counties Combined
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2020 - DEC. 2020)
For Sale
600
Sold Pended
540
520
480 429
466
458
450
507
483 455
436
417
420
393 354
360 300 240 180 120
40
136 103
88
68
60 0
139
119
69
24 28
26
21
26
23 30
26
60
76
1/20
2/20
3/20
4/20
5/20
6/20
7/20
95
8/20
112
9/20
Source: Trendgraphix utilizing NNEREN data 1/1/2020 - 12/31/2020 — All VT & NH Counties Combined
55
149
97
10/20
11/20
105
12/20
LUXURY REPORT $1MM+ VT & NH COMBINED
TOTAL SALES IN $
TOTAL SALES IN UNITS
(JAN. 2020 - DEC. 2020)
(JAN. 2020 - DEC. 2020)
89.9M
59
215
65
132.8M
371.6M
140.9M
85 97
FSSIR
185.7M
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
COMPETITOR 4
*Source: Trendgraphix Data - 1/1/20 - 12/31/20 — All VT & NH Counties Combined
LUXURY REPORT $600K+ VERMONT
YEAR END 2019
YEAR END 2020
% CHANGE
531
994
87%
$891,425
$976,195
10%
170
155
9%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: NNEREN 1/1/19 - 12/31/19 and 1/1/20 - 12/31/20 — All VT Counties Combined
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2020 - DEC. 2020)
For Sale Sold
700
600
Pended 598
597
593
660 623
607
592
596 559 528 491
500
446
400
300
200 171
168
161 133
103
100
92
68 30
0
26
1/20
37
26
29 27
25 30
27
47
2/20
3/20
4/20
5/20
6/20
85
7/20
132
8/20
149
9/20
Source: Trendgraphix utilizing NNEREN data 1/1/2020 - 12/31/2020 — All VT Counties Combined
173
10/20
76 123
11/20
147
12/20
LUXURY REPORT $600K+ VERMONT
TOTAL SALES IN $
TOTAL SALES IN UNITS
(JAN. 2020 - DEC. 2020)
(JAN. 2020 - DEC. 2020)
77.3M
79 106.1M
87
368
368.4M
96
85.7M
195.4M
201
FSSIR
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
COMPETITOR 4
*Source: Trendgraphix Data - 1/1/20 - 12/31/20 — All VT & NH Counties Combined
LUXURY REPORT $1MM+ VERMONT
YEAR END 2019
YEAR END 2020
% CHANGE
105
285
171%
$1,517,698
$1,541,883
2%
182
190
4%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: NNEREN 1/1/19 - 12/31/19 and 1/1/20 - 12/31/20 — All VT Counties Combined
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2020 - DEC. 2020)
For Sale Sold
300
Pended
275 256
250 225
228
225
223
243
234
226
230 216
216 200
200
183
175 150 125 100 75 54
50
45
36
30
25 0
45
7 3
8 4
7 9
9 9
1/20
2/20
3/20
4/20
18
7
13
25
40
5/20
6/20
7/20
8/20
37
9/20
Source: Trendgraphix utilizing NNEREN data 1/1/2020 - 12/31/2020 — All VT Counties Combined
29
24
53
38
47
10/20
11/20
12/20
LUXURY REPORT $1MM+ VERMONT
TOTAL SALES IN $
TOTAL SALES IN UNITS
(JAN. 2020 - DEC. 2020)
(JAN. 2020 - DEC. 2020)
26
45.4M
42
72M
120
54
177.5M
103.7M 89.9M
59
FSSIR
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
COMPETITOR 4
*Source: Trendgraphix Data - 1/1/20 - 12/31/20 — All VT & NH Counties Combined
LUXURY REPORT $600K+ NEW HAMPSHIRE
YEAR END 2019
YEAR END 2020
% CHANGE
1448
2285
58%
$935,022
$942,381
.8%
90
73
19%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: NNEREN 1/1/19 - 12/31/19 and 1/1/20 - 12/31/20 — All NH Counties Combined
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2020 - DEC. 2020)
For Sale Sold
800
783
Pended 714
699
700
766 714
634
600
630
604
599 538
500
480
383
400 338
300 268
286
314 251
214
200
198 149
100 0
116
94
114
66
60
1/20
2/20
106 101
3/20
101
4/20
110
5/20
196
6/20
265
7/20
269
8/20
295
9/20
Source: Trendgraphix utilizing NNEREN data 1/1/2020 - 12/31/2020 — All NH Counties Combined
308
10/20
258
11/20
252
12/20
LUXURY REPORT $600K+ NEW HAMPSHIRE
TOTAL SALES IN $
TOTAL SALES IN UNITS
(JAN. 2020 - DEC. 2020)
(JAN. 2020 - DEC. 2020)
216
107.3M
263
194.4M
155.5M 258 214.5M
314 184.8M
301
FSSIR
COMPETITOR 1
COMPETITOR 2
COMPETITOR 3
COMPETITOR 4
*Source: Trendgraphix Data - 1/1/20 - 12/31/20 — All VT & NH Counties Combined
LUXURY REPORT $1MM+ NEW HAMPSHIRE
YEAR END 2019
YEAR END 2020
% CHANGE
317
508
60%
$1,675,253
$1,696,584
1%
110
92
16%
NUMBER OF PROPERTIES SOLD AVERAGE SALE PRICE AVERAGE DAYS ON MARKET
Source: NNEREN 1/1/19 - 12/31/19 and 1/1/20 - 12/31/20 — All NH Counties Combined
NUMBER OF HOMES FOR SALE VS. SOLD VS. PENDED (JAN. 2020 - DEC. 2020)
For Sale Sold
300
Pended
250 227
200
215
206
200
242
237
205
199
189
183
176 154
150
100
89
65
60
57
50
84
46
36
31 14
0
19
1/20
18
17
16
2/20
3/20
14
19
19
4/20
5/20
45
6/20
49
7/20
52
8/20
72
9/20
Source: Trendgraphix utilizing NNEREN data 1/1/2020 - 12/31/2020 — All NH Counties Combined
30
88
57
56
10/20
11/20
12/20
LUXURY REPORT $1MM+ NEW HAMPSHIRE
TOTAL SALES IN $
TOTAL SALES IN UNITS
(JAN. 2020 - DEC. 2020)
(JAN. 2020 - DEC. 2020)
74.3M
47
95
194M
78.9M
48
129.9M 77
97
FSSIR
COMPETITOR 1
185.7M
COMPETITOR 2
COMPETITOR 3
COMPETITOR 4
*Source: Trendgraphix Data - 1/1/20 - 12/31/20 — All VT & NH Counties Combined
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