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Real Estate Market Report for the Greater Woodstock and Greater Hanover-Lebanon Market Areas - First Half of 2018

Upper Valley Real Estate - Cover Art

 

The residential real estate market for the Greater Woodstock Vermont market area remains solid in 2018 – the best year-to-date in a decade other than the red-hot market of 2017, when sales nearly doubled over the prior years.  Specifically, 100 homes sold in the area during the first half of 2018 versus 118 in the first half of 2017.   In terms of supply, the town of Woodstock has seen a slow but continuous decline in the number of homes for sale over the past six years and inventory is now at its lowest point since post-recession highs.  As of July 1, there were just 63 houses actively listed for sale in the town of Woodstock, compared to 80 on the same date in 2017, and 126 in 2012 – a 50% reduction from the market trough.  The supply-demand balance in the market is getting more and more in balance, and the market for moderately priced homes in Woodstock Village itself has become tight, where prices have started rising.  The luxury market in the Greater Woodstock market area continues to be solid, with six (6) sales of homes over $1 million sold/closed year-to-date and three (3) more under agreement as of this writing.

Buying activity for the Greater Hanover-Lebanon market area continued to be strong in the first half of 2018.  While the market area as a whole was down 11% with 162 homes sold/closed compared to 181 during the same period of 2017, we believe this decline is due in large part to a diminished and limited supply that has not matched continuous buyer demand, especially in the towns of Lebanon and Hartford.  The number of homes sold in Hanover itself was up 10% with 40 homes sold/closed compared to the same period in 2017, which saw 36.  The town of Lyme stands out as a significant outlier from the rest of the market as a whole - up nearly 333% with 10 homes sold/closed compared to the same period in 2017, with just three (3).  The market area as a whole saw seven (7) sales of homes that sold/closed for $1 million or more, up just slightly from the same period in 2017, as luxury buying activity remains strong in the Greater Hanover market area. 

 

GWA Historical Closed

 

Greater Hanover Lebanon Market Area Historical Sales in the First Half

 

Woodstock VT Real Estate - Actively Listed on July 1

 

Statistics on Individual Towns Greater Woodstock and Hanover-Lebanon Area

 

Click on any of the following towns to view market analysis for the first quarter of 2018 and historical statistics. 

 

Greater Woodstock Market Area

Woodstock

Barnard

Pomfret

Quechee

West Windsor

Reading

Hartland

 

Greater Hanover Lebanon Market Area

Hanover

Norwich

Lyme

Lebanon

Hartford

 

 

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