1. Upper Valley Housing Coalition September 5, 2014 Real Estate Market Update Presented by: Buff McLaughry & Ned Redpath Sometimes Known As “Batman & Robin”

2. 1 Agenda 1. Market Trends 2. Pricing 3. Market Outlook

3. 1 2 Market Trends- Geographic Focus 1

4. 1 2 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 2013 Vs. May – July 2014 Days on Market (59) Down 34.4%

5. 1 3 Market Trends - Lebanon Listing Inventory (92)Closed Sales (23)Pending Sales (18) Down 4.2% Even 0.0% *Source: Northern New England Real Estate Network (NNREN) May – July 2013 Vs. May – July 2014 Days on Market (84) Up 10.5%

6. 1 4 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 2013 Vs. May – July 2014 Days on Market (88) Up 9.7%

7. 1 5 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 2013 Vs. May – July 2014 Days on Market (103) Up 3.0%

8. 1 6 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 2013 Vs. May – July 2014 Days on Market (147) Up 8.9% Thetford, Hartland, Norwich, Pomfret, Sharon, Woodstock, Enfield, Lyme, Cornish, Grantham, Plainfield

9. 1 7 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 2013 Vs. May – July 2014 Days on Market (145) Up 6.5%

10. 1 Agenda 1. Market Trends 2. Pricing 3. Market Outlook

11. 1 8 Pricing- Price Is King!

12. 1 9 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)

13. 1 10 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)

14. 1 11 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)

15. 1 12 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)

16. 1 Agenda 1. Market Trends 2. Pricing 3. Market Outlook

17. 1 13 Market Outlook 20132014Change New Listings16,76017,277+3.1% Pending Sales8,1518,056-1.2% Closed Sales7,9177,643-3.5% Days on Market10297-4.9% Median Price$217,500$227,565+4.6% YTD NH Single Family Activity

18. 1 14 Market Outlook 20132014Change New Listings7,6918,162+6.1% Pending Sales3,0853,078-0.2% Closed Sales2,8382,848+0.4% Days on Market160156-2.5% Median Price$212,00$203,000-4.2% YTD VT Single Family Activity

19. 1 15 2007 2020 *2007 Values *Inflation Adjusted Values 2014 Market Outlook

20. 1 16 Questions? WWW.UVHC.ORG Presentation posted on the Upper Valley Housing Coalition website: