Upper Valley Housing CoalitionReal Estate Market Update

April 24, 2015

Presented by: Buff McLaughry & Ned Redpath

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Agenda

1. Market Trends

2. Pricing

3. Market Outlook

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Market Trends - Geographic Focus

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1

Market Trends - Hanover

Listing Inventory (29) Closed Sales (12) Pending Sales (27)Even 0.0% Even 0.0% Down 10%

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

Jan – March 2014vs.

Jan – March 2015

Days on Market (178)Up 261.8%

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Market Trends - Lebanon

Listing Inventory (57) Closed Sales (23) Pending Sales (56)Down 38.7% Down 11.1% Up 5.6%

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

Days on Market (129)Up 22.0%

Jan – March 2014vs.

Jan – March 2015

Market Trends - Hartford

Listing Inventory (201) Closed Sales (23) Pending Sales (45)Down 6.9% Even 0.0% Up 15.4%

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

Days on Market (101)Down 62.5%

Jan – March 2014vs.

Jan – March 2015

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Market Trends – Hanover, Lebanon, Hartford

Listing Inventory (293) Closed Sales (58) Pending Sales (128)Down 15.3% Down 6.5% Up 6.7%

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

Days on Market (127)Up 15.5%

Jan – March 2014vs.

Jan – March 2015

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Market Trends -

Listing Inventory (602) Closed Sales (86) Pending Sales (155)Down 3.5% Up 2.4% Up 25.0%

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

Days on Market (153)Down 17.3%

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

Jan – March 2014vs.

Jan – March 2015

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

Listing Inventory (3266) Closed Sales (462) Pending Sales (727)Down 3.7% Up 4.5% Up 11.5%

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

Days on Market (145)Down 2.9%

Jan – March 2014vs.

Jan – March 2015

Agenda

1. Market Trends

2. Pricing

3. Market Outlook

Pricing- Price Is Still King!

Average Sale Price-

Up 11.3%

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

Under $300K

Jan – March 2015Jan – March 2014

$160,000 $178,000

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

Closed Sales (83) Closed Sales (78)

Average Sale Price-

Down 3.6%

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

$300K - $600K

$422,000 $407,000

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

Closed Sales (23) Closed Sales (33)Jan – March 2015Jan – March 2014

Average Sale Price-

Down 2.1%

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

$600K - $1M

$756,000 $741,000

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

Closed Sales (7) Closed Sales (8)Jan – March 2015Jan – March 2014

Average Sale Price-

Down 12.0%

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

Over $1M

$1,710,000 $1,505,000

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

Closed Sales (8) Closed Sales (2)Jan – March 2015Jan – March 2014

Agenda

1. Market Trends

2. Pricing

3. Market Outlook

Market Outlook – The good….

Area Unemployment Rate Feb 2015

United States 5.5%

New England 5.3%

Vermont 3.9%

New Hampshire 3.9%

1. Employment is High

2. Interest Rates are Low

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

2007 2020

*2007 Values

*Inflation Adjusted Values

2015

Market Outlook

Questions?

WWW.UVHC.ORG

Presentation posted on theUpper Valley Housing Coalition website:

Buff McLaughryemail: buff.mclaughry@fourseasonssir.com

Ned Redpathemail: ned@cbredpath.com