Upper Valley Housing Coalition

September 5, 2014

Real Estate Market Update

Presented by: Buff McLaughry & Ned Redpath

Sometimes Known As

“Batman & Robin”

1

Agenda

1. Market Trends1. Market Trends

2. Pricing2. Pricing

3. Market Outlook3. Market Outlook

12

Market Trends- Geographic Focus

1

12

Market Trends - Hanover

Listing Inventory (39) Closed Sales (15) Pending Sales (9)Down 7.1% Even 0.0% Up 12.5%

*Source: Northern New England Real Estate Network (NNREN)

May – July 2013Vs.

May – July 2014

Days on Market (59)Down 34.4%

13

Market Trends - Lebanon

Listing Inventory (92) Closed Sales (23) Pending Sales (18)Down 4.2% Even 0.0% Even 0.0%

*Source: Northern New England Real Estate Network (NNREN)

May – July 2013Vs.

May – July 2014

Days on Market (84)Up 10.5%

14

Market Trends - Hartford

Listing Inventory (222) Closed Sales (20) Pending Sales (23)Up 0.9% Up 33.3% Up 35.3%

*Source: Northern New England Real Estate Network (NNREN)

May – July 2013Vs.

May – July 2014

Days on Market (88)Up 9.7%

15

Market Trends – Hanover, Lebanon, Hartford

Listing Inventory (353) Closed Sales (58) Pending Sales (50)Down 1.7% Up 7.4% Up 16.3%

*Source: Northern New England Real Estate Network (NNREN)

May – July 2013Vs.

May – July 2014

Days on Market (103)Up 3.0%

16

Market Trends -

Listing Inventory (532) Closed Sales (38) Pending Sales (42)Down 0.2% Down 5.0% Up 28.6%

*Source: Northern New England Real Estate Network (NNREN)

May – July 2013Vs.

May – July 2014

Days on Market (147)Up 8.9%

Thetford, Hartland, Norwich, Pomfret, Sharon, Woodstock, Enfield, Lyme, Cornish, Grantham, Plainfield

17

Market Trends – Counties: Orange, Windsor, Grafton, Sullivan

Listing Inventory (4104) Closed Sales (273) Pending Sales (298)Down 1.4% Down 6.5% Up 10.4%

*Source: Northern New England Real Estate Network (NNREN)

May – July 2013Vs.

May – July 2014

Days on Market (145)Up 6.5%

1

Agenda

1. Market Trends1. Market Trends

2. Pricing2. Pricing

3. Market Outlook3. Market Outlook

18

Pricing- Price Is King!

19

Average Sale Price-

Down 2.6%

*Source: Northern New England Real Estate Network (NNREN)

Under $300K

May – July 2014May – July 2013

$191,000 $186,000

*14 Upper Valley towns: Fairlee, Thetford, Hartford, Hartland, Norwich, Sharon, Woodstock, Enfield, Hanover, Lebanon, Lyme, Orford, Grantham, Plainfield

Closed Sales (169) Closed Sales (168)

110

Average Sale Price-

Down 4.0%

*Source: Northern New England Real Estate Network (NNREN)

$300K - $600K

May – July 2014May – July 2013

$422,000 $405,000

*14 Upper Valley towns: Fairlee, Thetford, Hartford, Hartland, Norwich, Sharon, Woodstock, Enfield, Hanover, Lebanon, Lyme, Orford, Grantham, Plainfield

Closed Sales (82) Closed Sales (87)

111

Average Sale Price-

Up 4.5%

*Source: Northern New England Real Estate Network (NNREN)

$600K - $1M

May – July 2014May – July 2013

$731,000 $764,000

*14 Upper Valley towns: Fairlee, Thetford, Hartford, Hartland, Norwich, Sharon, Woodstock, Enfield, Hanover, Lebanon, Lyme, Orford, Grantham, Plainfield

Closed Sales (19) Closed Sales (20)

112

Average Sale Price-

Down 17.2%

*Source: Northern New England Real Estate Network (NNREN)

Over $1M

May – July 2014May – July 2013

$1,728,000 $1,431,000

*14 Upper Valley towns: Fairlee, Thetford, Hartford, Hartland, Norwich, Sharon, Woodstock, Enfield, Hanover, Lebanon, Lyme, Orford, Grantham, Plainfield

Closed Sales (9) Closed Sales (5)

1

Agenda

1. Market Trends1. Market Trends

2. Pricing2. Pricing

3. Market Outlook3. Market Outlook

113

Market Outlook

2013 2014 Change

New Listings 16,760 17,277 +3.1%

Pending Sales 8,151 8,056 -1.2%

Closed Sales 7,917 7,643 -3.5%

Days on Market 102 97 -4.9%

Median Price $217,500 $227,565 +4.6%

YTD NH Single Family Activity

114

Market Outlook

2013 2014 Change

New Listings 7,691 8,162 +6.1%

Pending Sales 3,085 3,078 -0.2%

Closed Sales 2,838 2,848 +0.4%

Days on Market 160 156 -2.5%

Median Price $212,00 $203,000 -4.2%

YTD VT Single Family Activity

115

20072007 20202020

*2007 Values*2007 Values

*Inflation Adjusted Values*Inflation Adjusted Values

2014

Market Outlook

116

Questions?

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Presentation posted on theUpper Valley Housing Coalition website: