Chittenden, Addison, Franklin & Grand Isle Counties.

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1 Third Quarter 2018 market results & trends to watch in Chittenden, Addison, Franklin & Grand Isle Counties. VermontMarketReport.com New Haven Swanton South Burlington vermontmarketreport.com

2 Executive Summary 4 Bedroom 3 Bath Custom Farmhouse, in Charlotte, with stunning Western views, wraparound deck, & Connor built garage/barn! MLS# Leaves fall from the trees, boats come out of the lakes, and hunters head for the woods. Welcome to fall in northwest Vermont, and welcome to our Fall 2018 Market Report, January September SINGLE-FAMILY $289,950 (5.4%) $322,081 (3.5%) 1,726 (0.8%) 2,654 (-1.2%) 89 (-8.3%) CONDOS $226,000 (-1.3%) $256,243 (-0.7%) 561 (7.7%) 744 (13.1%) 70 (-21.4%) MULTI-FAMILY $320,950 (15.9%) $411,173 (24.3%) 130 (27.5%) 166 (-7.8%) 98 (3.2%) LAND $82,000 (-0.9%) $134,209 (35.5%) 151 (14.4%) 384 (-20.8%) 248 (-15.7%) Each quarter, we combine the Multiple Listing Service (MLS) data with the expertise of our agents to offer a recap of real estate activity and trends in the 4 counties of northwest Vermont: Addison, Chittenden, Franklin, and Grand Isle. Our skilled REALTORS can help you with more specific price points in certain cities and towns. Given our market leading position, we are committed to providing unparalleled service to our clients. The data through the end of the 3rd quarter is significant in that it includes closed sales for the busiest segment of the year. Traditionally, the height of the market is considered late spring through summer. The ongoing story in the national and regional market is the contraction of inventory for sale, so it is remarkable that closed sales through the 3rd quarter faired as well as they did. Closed sales of Single- Family homes remain flat across the region while sales of condos, land and multi-family properties show healthy increases over the same period last year. The median price of sold, single family homes continues to rise while prices of Multi Family homes surged as investors clamor for properties in a tight market. With mortgage interest rates increasing recently and additional increases expected, sellers and buyers would be wise to stay in the market during the 4th quarter of 2018 and 1st quarter of 2019, while properties may be in the most demand and at their most affordable. Front Cover Main Photo: Custom home on 10 private acres thoughtfully designed to showcase sweeping mountain views. MLS# Bottom Photos from left to right: MLS# , MLS# , MLS# The Coldwell Banker Hickok & Boardman Vermont Market Report is based on data collected by the Northern New England Real Estate Network from January through September 2018 and does not represent privately negotiated transactions unless so noted. All material herein is designed for information purposes only and has been drawn from sources deemed reliable. Though the data is believed to be correct, it is presented subject to omissions, errors, changes or withdrawal without notice. The report is not designed to solicit property already listed. Coldwell Banker is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. All Offices Are Independently Owned and Operated Coldwell Banker Hickok & Boardman Realty. Coldwell Banker Hickok & Boardman Realty Third Quarter Market Results for 2018

3 Chittenden County Move right in to this stylish, tastefully appointed cape on a small cul-de-sac in Shelburne. MLS# With record lows for Single Family homes available for sale and strong buyer demand homes are on the market, on average, for only 2 months from list to close. SINGLE-FAMILY $339,950 (5.6%) $381,536 (4.3%) 928 (-2.6%) 1,304 (-2.3%) 62 (-12.7%) CONDOS $231,500 (-0.6%) $263,455 (0.8%) 497 (6%) 678 (15.7%) 57 (-33.7%) MULTI-FAMILY $376,500 (11.5%) $506,920 (22.2%) 87 (31.8%) 103 (-8%) 80 (19.4%) LAND $135,000 (0%) $228,623 (74.8%) 47 (6.8%) 117 (-6.4%) 234 (3.1%) Chittenden County Single-Family Homes For Sale Q The median and average sale prices continue to post healthy increases across the county. Condominiums are a popular choice among buyers interested in ease of maintenance and more affordable pricing compared to single family homes The number of condos sold through the 3rd quarter continues to rise as many newly listed options come on the market. 600 The large majority of multi family sales across the region are in Chittenden Q Q Q Q Q County. An 8% decrease in available properties, coupled with a 32% increase in closed sales drove the median and average sale prices up 11.5% and 22% respectively. As reported by NEREN-MLS vermontmarketreport.com

4 Addison County Historic Vermont 34-acre farm boasts a fully restored Farmhouse, Guest house, post and beam barn in Addison. MLS# Buyers are attracted to the quaint, Vermont feel and vibrant downtowns of Bristol, Vergennes and Middlebury along with the more affordable housing options in Addison County. SINGLE-FAMILY $265,000 (3.9%) $288,298 (3.4%) 257 (0%) 448 (-4.7%) 120 (-9.1%) CONDOS $184,500 (-3.4%) $196,572 (-22.8%) 13 (-23.5%) 16 (-5.9%) 50 (-29.6%) MULTI-FAMILY $240,000 (42%) $237,527 (32.9%) 11 (10%) 14 (-6.7%) 163 (-15.1%) LAND $65,625 (-12.5%) $94,643 (5%) 50 (13.6%) 111 (-30.6%) 261 (-17.1%) Addison County Single-Family Homes For Sale Q The Median and Average Sale price for single family homes rose a modest 3% likely affected by fewer properties for sale as well as the sale of 5 luxury property in Addison County so far in Still, with a median sale price of $265,000 and days on market (DOM) of 4 months, 300 buyers may find their dream home at a reasonable price without the pressure of 200 multiple offers so common in Chittenden County. 100 Land sales continue to increase year 0 Q Q Q Q Q over year as homeowners opt to build when options for existing homes remains challenging. As reported by NEREN-MLS Coldwell Banker Hickok & Boardman Realty Third Quarter Market Results for 2018

5 Franklin County Lovely historic 1821 Farmhouse located on 17 beautiful acres with a big post and beam barn in Franklin. MLS# Franklin County remains the most affordable county in northwest Vermont. The median price for a single-family home declined slightly to $205,500 as compared to $339,950 in neighboring Chittenden County. SINGLE-FAMILY $205,500 (-3.2%) $213,898 (0.3%) 436 (9%) 680 (4.6%) 106 (-14.5%) CONDOS $178,900 (-9%) $200,015 (-5.6%) 50 (47.1%) 49 (-5.8%) 209 (60.8%) MULTI-FAMILY $198,975 (15.2%) $205,894 (17%) 31 (19.2%) 47 (-7.8%) 129 (2.4%) LAND $53,500 (-0.9%) $69,224 (16.1%) 34 (21.4%) 106 (-8.6%) 207 (6.2%) 1000 Franklin County Single-Family Homes For Sale Q3 Single family home and condo sales in Franklin County increased over the same period last year far outpacing the overall trend in northwest Vermont Land sales remain healthy and an affordable option for buyers and developers alike. As the average price for Multi Family properties rises by 22% in Chittenden 200 County, investors turn to Franklin County with the convenient location off of I-89 0 Q Q Q Q Q and average pricing near $200,000. As reported by NEREN-MLS vermontmarketreport.com

6 Grand Isle County A wonderful Cape Home on 414 Acres in Alburgh. 1,717 sq. ft. of lakeshore, 18-hole golf-course, clubhouse, equipment & more. MLS# Summer is the time for Grand Isle County to shine and the record warmth and sunshine bode well for the County. Luxury homes sales are a big part of the story as well with 6 properties in the luxury price range selling so far this year. SINGLE-FAMILY $244,900 (3.3%) $328,521 (23%) 105 (2.9%) 222 (-4.3%) 178 (21.1%) CONDOS $259,000 (5.3%) $259,000 (5.3%) 1 (0%) 1 (-66.7%) 78 (1200%) MULTI-FAMILY* $355,000 (na) $355,000 (na) 1 (na) 2 (na) 16 (na) LAND $76,250 (1.7%) $121,725 (15.4%) 20 (25%) 50 (-40.5%) 315 (-46.7%) Grand Isle County Single-Family Homes For Sale Q3 Single family and land sales posted increases while condominiums and multi- family properties are scarce in Grand Isle County. The average days on market (DOM) from listing to closing, at 178 days, is the longest among the 4 counties in this report however, at 6 months, it is still a reasonable period of time. Homes priced closer to the median price of $244,900 0 Q Q Q Q Q As reported by NEREN-MLS and homes in good condition will be of interest to savvy buyers and will likely sell in far less time. *No multi-family sales recorded in 2017 Coldwell Banker Hickok & Boardman Realty Third Quarter Market Results for 2018

7 Luxury Market This custom Contemporary is situated on a ridgeline atop Fairfield hill, in St Albans, providing one of Northwest Vermont s most incredible views. MLS# Sales of luxury properties remain strong so far this year. In the 3rd quarter alone the number of properties sold increased by 29% with the median sale price increasing 7%. Year to date, the median price has declined slightly. MEDIAN SALE PRICE AVERAGE SALE PRICE UNITS SOLD NEWLY LISTED LUXURY* $1,053,000 (-2%) $1,181,408 (-7.9%) 35 (29.6%) 108 (18.7%) Lakefront properties in Addison, Chittenden and Grand Isle Counties continue make up a good portion of the closed sales. However, the trend toward properties away from the lake, newer construction with amenities, views, and proximity to the greater Burlington area employers continues with sales of homes in South Burlington and Shelburne for example. While inventory of luxury homes has declined slightly over the past few years, architecturally designed lakefront and hillside homes with stunning views are available for the discerning buyer. Address Town County Sale Price 296 South Cove Road Burlington Chittenden $850, Sunrise Lane Grand Isle Grand Isle $855, North Hollow Granville Addison $860, Popple Dungeon Road Charlotte Chittenden $870, Point Farm West Grand Isle Grand Isle $875, Staton Drive Panton Addison $875, Button Bay Lane Ferrisburgh Addison $878,000 9 Ladd Point Grand Isle Grand Isle $885, Point Farm West Road Grand Isle Grand Isle $888, Heather Lane Shelburne Chittenden $920, Spear Street South Burlington Chittenden $920, South Forty Road Charlotte Chittenden $936, Apple Ridge Road Hinesburg Chittenden $965, Hemlock Lane South Burlington Chittenden $975, South Cove Road Burlington Chittenden $1,000, Inn Road Charlotte Chittenden $1,004, Autumn Hill Lane Shelburne Chittenden $1,050, Wings Point Road Charlotte Chittenden $1,053,000 Address Town County Sale Price 1445 Ethan Allen Highway Charlotte Chittenden $1,075, Maquam Shore Swanton Franklin $1,095, Point Red Rock Road Colchester Chittenden $1,095,000 6 Turtle Moon Road Charlotte Chittenden $1,130, East Shore Road South Hero Grand Isle $1,149, North Bingham Street Cornwall Addison $1,206, Lake Road Panton Addison $1,250, Central Avenue South Burlington Chittenden $1,260, Irish Hill Road Shelburne Chittenden $1,437, Sweeney Farm Road South Hero Grand Isle $1,542, Golf Course Road South Burlington Chittenden $1,550, Lake Road Charlotte Chittenden $1,560, Sledrunner Road Shelburne Chittenden $1,639, Spear Street South Burlington Chittenden $1,800, Appletree Point Road Burlington Chittenden $1,850, Autumn Hill Lane Shelburne Chittenden $1,950, South Street South Hero Grand Isle $2,100,000 *Luxury property defined as residential property that closed at $850,000 or above. vermontmarketreport.com

8 Since 2008 BEST REAL ESTATE AGENCY 10 CONSECUTIVE YEARS Coldwell Banker Hickok & Boardman Realty A Leader in Northwest Vermont Headquartered in Burlington, Vermont and offering a real estate center in St. Albans, Coldwell Banker Hickok & Boardman Realty has a proven track record of providing extraordinary real estate services and cutting-edge technology initiatives to homebuyers and sellers throughout Northwest Vermont. CELEBRATING We understand the questions our customers face when making what may be one of their biggest financial decisions. Through our unique marketing and internet strategies, analysis of market trends, and highly skilled Agents 1 in 5 sellers and buyers have chosen our agency to represent them. With more than 90 experienced Realtors and staff, we offer a wealth of skills, from marketing luxury homes to assisting professionals relocating in or out of state. We strive to be the trusted source of innovative real estate solutions, creating OF PROVIDING exceptional experiences for all we serve. This is illustrated by our consistent ranking as the Readers Choice for best real estate agency by Seven Days newspaper, the #1 Coldwell Banker office in Vermont, and as a Coldwell Banker Chairman Circle company, an elite standing that recognized the top 50 Coldwell Banker companies - out of more than 3,000 worldwide. Please contact one of our Agents for their deep knowledge, expert negotiation and marketing experience, and commitment to providing exceptional real estate services to their customers and clients. 346 Shelburne Road Burlington, VT Info@HickokandBoardman.com HickokandBoardman.com The Coldwell Banker Hickok & Boardman Vermont Market Report is based on data collected by the Northern New England Real Estate Network from January through March 2018 and does not represent privately negotiated transactions unless so noted. All material herein is designed for information purposes only and has been drawn from sources deemed reliable. Though the data is believed to be correct, it is presented subject to omissions, errors, changes or withdrawal without notice. The report is not designed to solicit property already listed. Coldwell Banker is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. All Offices Are Independently Owned and Operated Coldwell Banker Hickok & Boardman Realty.