2017 was a good year for the Norwich, Vermont real estate market. The following chart shows residential sales from 2004 through 2017.
The number of sales increased 50% in 2017 versus 2016, rebounding from the 54% drop off in sales between 2015 and 2016. The reasons for that drop off are somewhat of an unknown, especially in consideration that the number of sales for neighboring Hanover were up 14% over the same period. An overlay of Hanover and Norwich’s historical sales on the same graph shows an interesting trend:
In seven instances since 2004, Hanover and Norwich have had an inverse change in the number of sales compared to the prior year, a curious trend given the close proximity of the two markets, the fact that they share a great public school system, and have access to many great employment opportunities, among other similarities.
The next graph shows the average negotiating discount (the percentage a house sold versus the last list price) in Norwich from 2004 through 2017. The average negotiating discount dropped to 2.46% in 2017, from 3.66% in 2016.
In regards to the luxury market, Norwich saw two sales of homes over $1 million in 2017. Snyder Donegan was pleased to assist the buyer in the sale of 741 Bragg Hill Road for $1,600,000. You can see photos and more information on that sale by clicking here.
A list of all 42 properties that sold/closed in Norwich in 2017 is below:
| 354 Dutton Hill Road, Norwich, VT | $1,820,000 |
| 741 Bragg Hill Road, Norwich, VT | $1,600,000 |
| 237 Main Street, Norwich, VT | $990,000 |
| 39 Elm Street, Norwich, VT | $950,000 |
| 64 Ladeau Road, Norwich, VT | $945,000 |
| 534 VT Route 132, Norwich, VT | $850,000 |
| 1490 Beaver Meadow Road, Norwich, VT | $850,000 |
| 495 Main Street, Norwich, VT | $825,000 |
| 23 Church Street, Norwich, VT | $775,000 |
| 53 Partridge Hill Road, Norwich, VT | $729,000 |
| 47 Tucker Hill Road, Norwich, VT | $695,000 |
| 1 Cliff Street, Norwich, VT | $670,000 |
| 80 Blood Hill Road, Norwich, VT | $669,000 |
| 69 Meetinghouse Road, Norwich, VT | $635,000 |
| 261 Beaver Meadow Rd, Norwich, VT | $629,000 |
| 53 Old Farm Road, Norwich, VT | $595,000 |
| 340 Hawk Pine Road, Norwich, VT | $575,000 |
| 37 Meetinghouse Road, Norwich, VT | $572,500 |
| 86 Spring Pond Road, Norwich, VT | $500,000 |
| 89 Elm Street, Norwich, VT | $500,000 |
| 386 Beaver Meadow Road, Norwich, VT | $470,000 |
| 370 Hawk Pine Road, Norwich, VT | $465,000 |
| 6 Moore Lane, Norwich, VT | $430,000 |
| 229 Bradley Hill Road, Norwich, VT | $413,100 |
| 27 Hillside Road, Norwich, VT | $412,000 |
| 64 Glen Ridge Road, Norwich, VT | $405,000 |
| 266 Kerwin Hill Road, Norwich, VT | $387,500 |
| 1363 Turnpike Road, Norwich, VT | $386,000 |
| 503 Hawk Pine Road, Norwich, VT | $375,000 |
| 308 Beaver Meadow Road, Norwich, VT | $375,000 |
| 66 Turnpike Road, Norwich, VT | $369,500 |
| 65 McKenna Road, Norwich, VT | $360,840 |
| 95 Chapel Hill Road, Norwich, VT | $347,500 |
| 594 Goodrich Four Corners Road, Norwich, VT | $347,000 |
| 627 US 5 Route, Norwich, VT | $300,000 |
| 655 Route 132, Norwich, VT | $275,000 |
| 24 RIDGEWOOD HILL ROAD, Norwich, VT | $270,000 |
| 217 Town Farm Rd., Norwich, VT | $260,000 |
| 433 Union Village Rd, Norwich, VT | $225,000 |
| 153 Delta Drive, Norwich, VT | $213,000 |
| 649 VT Route 132, Norwich, VT | $205,000 |
| 191 Chapel Hill Road, Norwich, VT | $130,000 |
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