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 Trends 2. Pricing 3. Market Outlook

1 2 Market Trends- Geographic Focus 1

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%

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%

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%

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%

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

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%

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

1 8 Pricing- Price Is King!

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)

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)

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)

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)

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

1 13 Market Outlook Change New Listings16,76017, % Pending Sales8,1518, % Closed Sales7,9177, % Days on Market % Median Price$217,500$227, % YTD NH Single Family Activity

1 14 Market Outlook Change New Listings7,6918, % Pending Sales3,0853, % Closed Sales2,8382, % Days on Market % Median Price$212,00$203, % YTD VT Single Family Activity

*2007 Values *Inflation Adjusted Values 2014 Market Outlook

1 16 Questions? Presentation posted on the Upper Valley Housing Coalition website: