Upper Valley Housing Coalition
Real Estate Market Update
April 24, 2015
Presented by: Buff McLaughry & Ned Redpath
Agenda
1. Market Trends
2. Pricing
3. Market Outlook
1
Market Trends - Geographic Focus
21 1
Market Trends - Hanover
Even 0.0%
Listing Inventory (29)
Even 0.0%
Closed Sales (12)
Down 10%
Pending Sales (27)
Up 261.8%
Days on Market (178)
Jan – March 2014
vs.
Jan – March 2015
*Source: Northern New England Real Estate Network (NNREN)
1
Market Trends - Lebanon
Down 38.7%
Listing Inventory (57)
Down 11.1%
Closed Sales (23)
Up 5.6%
Pending Sales (56)
Up 22.0%
Days on Market (129)
Jan – March 2014
vs.
Jan – March 2015
*Source: Northern New England Real Estate Network (NNREN)
1
Market Trends - Hartford
Down 6.9%
Listing Inventory (201)
Even 0.0%
Closed Sales (23)
Up 15.4%
Pending Sales (45)
Jan – March 2014
vs.
Jan – March 2015
*Source: Northern New England Real Estate Network (NNREN)
Down 62.5%
Days on Market (101)
Market Trends – Hanover, Lebanon, Hartford
Down 15.3%
Listing Inventory (293)
Down 6.5%
Closed Sales (58)
Up 6.7%
Up 15.5%
Pending Sales (128) Days on Market (127)
Jan – March 2014
vs.
Jan – March 2015
*Source: Northern New England Real Estate Network (NNREN)
1
Market Trends -
Down 3.5%
Listing Inventory (602)
Thetford, Hartland, Norwich, Pomfret, Sharon, Woodstock,
Enfield, Lyme, Cornish, Grantham, Plainfield
Up 2.4%
Closed Sales (86)
Up 25.0%
Down 17.3%
Pending Sales (155) Days on Market (153)
Jan – March 2014
vs.
Jan – March 2015
*Source: Northern New England Real Estate Network (NNREN)
1
Market Trends – Counties: Orange, Windsor, Grafton, Sullivan
Down 3.7%
Listing Inventory (3266)
Up 4.5%
Closed Sales (462)
Up 11.5%
Down 2.9%
Pending Sales (727) Days on Market (145)
Jan – March 2014
vs.
Jan – March 2015
*Source: Northern New England Real Estate Network (NNREN)
Agenda
1. Market Trends
2. Pricing
3. Market Outlook
Pricing- Price Is Still King!
Average Sale Price- Under $300K
$160,000
Jan – March 2014
$178,000
Up 11.3%
Closed Sales (83)
Jan – March 2015
Closed Sales (78)
*14 Upper Valley towns: Fairlee, Thetford, Hartford, Hartland, Norwich, Sharon, Woodstock, Enfield,
Hanover, Lebanon, Lyme, Orford, Grantham, Plainfield
*Source: Northern New England Real Estate Network (NNREN)
Average Sale Price- $300K - $600K
$422,000
Jan – March 2014
$407,000
Down 3.6%
Closed Sales (23)
Jan – March 2015
Closed Sales (33)
*14 Upper Valley towns: Fairlee, Thetford, Hartford, Hartland, Norwich, Sharon, Woodstock, Enfield,
Hanover, Lebanon, Lyme, Orford, Grantham, Plainfield
*Source: Northern New England Real Estate Network (NNREN)
Average Sale Price- $600K - $1M
$756,000
Jan – March 2014
$741,000
Down 2.1%
Closed Sales (7)
Jan – March 2015
Closed Sales (8)
*14 Upper Valley towns: Fairlee, Thetford, Hartford, Hartland, Norwich, Sharon, Woodstock, Enfield,
Hanover, Lebanon, Lyme, Orford, Grantham, Plainfield
*Source: Northern New England Real Estate Network (NNREN)
Average Sale Price- Over $1M
$1,710,000
Jan – March 2014
$1,505,000
Down 12.0%
Closed Sales (8)
Jan – March 2015
Closed Sales (2)
*14 Upper Valley towns: Fairlee, Thetford, Hartford, Hartland, Norwich, Sharon, Woodstock, Enfield,
Hanover, Lebanon, Lyme, Orford, Grantham, Plainfield
*Source: Northern New England Real Estate Network (NNREN)
Agenda
1. Market Trends
2. Pricing
3. Market Outlook
Market Outlook – The good….
Area
1. Employment is High
2. Interest Rates are Low
Unemployment Rate
Feb 2015
United States
5.5%
New England
5.3%
Vermont
3.9%
New Hampshire
3.9%
Market Outlook – The bad…
1. Lagging Inventory
2. Stagnant Wages
Market Outlook – The unknown…
1. Economic conditions in Europe
2. Contraction in Chinese economy
3. Political Instability
Market Outlook
*2007 Values
2007
2015
*Inflation Adjusted Values
2020
Questions?
Presentation posted on the
Upper Valley Housing Coalition website:
WWW.UVHC.ORG
Buff McLaughry
email: [email protected]
Ned Redpath
email: [email protected]