Upper Valley Housing Coalition September 5, 2014 Real Estate Market Update Presented by: Buff...
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Transcript of Upper Valley Housing Coalition September 5, 2014 Real Estate Market Update Presented by: Buff...
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?
WWW.UVHC.ORG
Presentation posted on theUpper Valley Housing Coalition website: