TTR Sotheby's International Realty

2014 YEAR-END

LUXURY REPORT WASHINGTON, DC

MARYLAND

VIRGINIA

A COMPREHENSIVE ANALYSIS OF THE RESIDENTIAL REAL ESTATE MARKET IN THE WASHINGTON METROPOLITAN AREA 1001 Dogue Hill Lane, McLean VA | LISTED FOR $5,245,000

O

n behalf of our team at TTR Sotheby’s International Realty, we are pleased to present this comprehensive market analysis of the Washington metropolitan area for 2014. Although results vary by submarket, those markets close to job centers as well as reliable transportation infrastructure continue to be robust. The relatively high ratio of average sale price to original list price also reflects strength across all jurisdictions.

The market changed significantly in 2014. Inventory levels which were low in 2013 increased notably, particularly in Northern Virginia and Montgomery County where active listings increased approximately 33% versus 2013. Conversely, active listing inventory in Washington, DC declined 6.5% in 2014 versus 2013, providing even fewer options for prospective buyers. Despite increasing inventory levels in many of the major markets, prices remain steady with the median sales price in Northern Virginia increasing 2.2%, and prices in Montgomery County remaining flat year-overyear. Median prices in Washington, DC increased 5.1%. Finally, interest rates remain at historically low levels with 30-year fixed conventional loans still available below 4.0%.

These factors indicate further upward pressure on prices in the close-in Washington markets through 2015. In contrast, suburban markets will continue to be challenged by increasing inventory levels which may impact average sales prices.

Despite challenges in the market in 2014, TTR Sotheby’s International Realty continued to outperform all other major brokerage firms. With a year-over-year increase in total sales of 18.4%, we outperformed every other major firm in the region with sales in excess of $1.5 billion. Commensurate with that growth, TTR Sotheby’s International Realty continued to expand its commitment to leadership in the communities where we work and live. In 2014, we were proud to support over 140 organizations throughout the region that are making an important difference in the lives of tens of thousands of at-risk families, children and proud military veterans. In June, the Washington Business Journal named TTR Sotheby’s International Realty among the Top 50 Most Philanthropic Companies in the Washington Region – making our firm the only residential real estate brokerage included on the list.

Finally, as Washington becomes increasingly connected to worldwide markets, strong global connections are more important than ever. With unrivaled access to the Sotheby’s International Realty global network of 700 offices in 52 countries, we are well positioned to answer questions and introduce you to an expert in virtually any market around the world.

Thank you again for the trust you continue to place in our firm. We welcome further inquiries about your local market or specific property, and look forward to working with you.

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TTRSIR.COM

801 Turkey Run Road, McLean VA | LISTED FOR $12,900,000

ALEXANDRIA 400 S Washington Street Alexandria, VA 22314 703 310 6800足

FIRST QUARTER 2015

GEORGETOWN 1206 30th Street NW Washington, DC 20007 202 333 1212

DOWNTOWN 1506 14th Street NW Washington, DC 20005 202 234 3344

CHEVY CHASE 5454 Wisconsin Avenue Chevy Chase, MD 20854 301 967 3344

McLEAN 6723 Whittier Avenue McLean, VA 22101 703 319 3344

TTRSIR LUXURY REPORT

3

WASHINGTON, DC Statistics for single family home sales across various neighborhoods of Washington, DC.

AMERICAN UNIVERSITY UNITS SOLD

2013

2014

%

CLEVELAND PARK

2014

%

75

72

-4%

UNITS SOLD

32

37

15%

AVG SOLD PRICE

$937,249

$979,523

4%

AVG SOLD PRICE

$1,487,988

$1,858,318

25%

DAYS ON MARKET

12

11

-8%

DAYS ON MARKET

30

25

-17%

2013

2014

%

2013

2014

%

139

132

-5%

127

122

-4%

AVG SOLD PRICE

$1,887,430

$2,012,422

7%

AVG SOLD PRICE

$966,3588

$1,008,910

4%

DAYS ON MARKET

82

58

-29%

DAYS ON MARKET

31

35

13%

2013

2014

%

2013

2014

%

179

172

-4%

UNITS SOLD

44

30

-32%

AVG SOLD PRICE

$975,975

$1,041,379

7%

AVG SOLD PRICE

$1,526,480

$2,184,898

43%

DAYS ON MARKET

21

18

-14%

DAYS ON MARKET

16

43

168%

GEORGETOWN UNITS SOLD

CHEVY CHASE UNITS SOLD

CAPITOL HILL UNITS SOLD

DUPONT

5063 NW Overlook, Washington DC | LISTED FOR $4,990,000

4

2013

TTRSIR.COM

97.6%

Average Sold-Price-toOriginal-List-Price Ratio of Single-Family Home Sales in Washington, DC

2500 Virginia Avenue NW #1401, Washington DC | SOLD FOR $1,783,000

FOREST HILLS UNITS SOLD

2013

2014

%

GLOVER PARK/BURLEITH

2013

2014

%

34

23

-32%

UNITS SOLD

78

71

-9%

AVG SOLD PRICE

$1,486,007

$1,394,669

-6%

AVG SOLD PRICE

$981,729

$957,752

-2%

DAYS ON MARKET

64

38

-40%

DAYS ON MARKET

24

17

-29%

2013

2014

%

2013

2014

%

55

67

22%

UNITS SOLD

30

52

73%

AVG SOLD PRICE

$902,103

$949,935

5%

AVG SOLD PRICE

$1,468,217

$1,741,185

18%

DAYS ON MARKET

9

18

100%

DAYS ON MARKET

31

54

74%

KALORAMA

2013

2014

%

WESLEY HEIGHTS

2013

2014

%

UNITS SOLD

47

26

-44%

34

33

-3%

AVG SOLD PRICE

$2,169,427

$2,225,003

2%

AVG SOLD PRICE

$1,275,644

$1,565,778

23%

DAYS ON MARKET

46

52

13%

DAYS ON MARKET

39

47

20%

2013

2014

%

2013

2014

%

MOUNT PLEASANT UNITS SOLD

LOGAN UNITS SOLD

SPRING VALLEY

UNITS SOLD

MASS. AVE HEIGHTS

21

27

28%

UNITS SOLD

8

8

0%

AVG SOLD PRICE

$1,087,821

$1,261,800

16%

AVG SOLD PRICE

$4,294,806

$2,026,875

-53%

DAYS ON MARKET

17

20

17%

DAYS ON MARKET

124

27

-78%

FIRST QUARTER 2015

$3bil

$3,064,146,000 Sold in Washington, DC in 2014

Source: MRIS, 1/1/201312/31/2014. Data deemed reliable, but not guaranteed.

TTRSIR LUXURY REPORT

5

VIRGINIA Statistics for single family home sales across various neighborhoods of Northern Virginia.

1600 Clarendon Blvd, Arlington VA #W309 | SOLD FOR $1,125,000

6

ARLINGTON

2013

2014

%

UNITS SOLD

1,402

1,334

AVG SOLD PRICE

$808,353

DAYS ON MARKET

McLEAN

2013

2014

%

-5%

UNITS SOLD

569

513

-10%

$848,091

5%

AVG SOLD PRICE

$1,320,936

$1,298,563

-2%

29

28

-3%

DAYS ON MARKET

50

49

-2%

FALLS CHURCH

2013

2014

%

ALEXANDRIA

2013

2014

%

UNITS SOLD

989

873

-12%

UNITS SOLD

1,252

1,125

-10%

AVG SOLD PRICE

$619,678

$641,713

3%

AVG SOLD PRICE

$687,461

$721,950

5%

DAYS ON MARKET

25

29

16%

DAYS ON MARKET

29

31

7%

GREAT FALLS

2013

2014

%

VIENNA

2013

2014

%

UNITS SOLD

244

170

-30%

UNITS SOLD

799

750

-6%

AVG SOLD PRICE

$1,273,495

$1,311,531

3%

AVG SOLD PRICE

$791,299

$839,448

6%

DAYS ON MARKET

74

89

20%

DAYS ON MARKET

28

33

18%

TTRSIR.COM

Source: MRIS, 1/1/2013-12/31/2014.

Data deemed reliable, but not guaranteed.

96.2%

Average Sold-Price-toOriginal-List Price Ratio of Single-Family Home Sales in Northern Virginia

MARYLAND Statistics for single family home sales across various neighborhoods of Maryland.

BETHESDA

2013

2014

%

UNITS SOLD

908

765

-16%

AVG SOLD PRICE

$1,030,656

$1,078,035

5%

DAYS ON MARKET

34

35

3%

POTOMAC

2013

2014

%

UNITS SOLD

534

488

-8%

AVG SOLD PRICE

$1,106,632

$1,066,727

-3%

DAYS ON MARKET

56

51

-9%

CHEVY CHASE

2013

2014

%

UNITS SOLD

254

256

1%

AVG SOLD PRICE

$1,219,467

$1,287,220

5%

DAYS ON MARKET

33

36

9%

96.2%

Average Sold-Price-toOriginal-List Price Ratio of Single-Family Home Sales in Montgomery County

525 Broadwater Way, Gibson Island MD LISTED FOR $3,950,000

938 Old Country Road, Severna Park MD | SOLD FOR $6,750,000

FIRST QUARTER 2015

TTRSIR LUXURY REPORT

7

SOTHEBY’S SOTHEBY’S AUCTION HOUSE

The Sotheby’s auctions of property from the Collection of Mrs. Paul Mellon more than doubled the pre-sale estimate, totalling $218 million.

SOTHEBY’S INTERNATIONAL REALTY

Sotheby’s International Realty celebrated the official opening of its newest office in Beijing, China in October of 2014.

SOTHEBY’S WINE

The Collection of Ambassador Ronald Weiser led the Finest and Rarest Wines sale and soared above the high estimate, fetching over $2 million.

SOTHEBY’S DIAMONDS

Sotheby’s Diamonds set a world record when it sold the 8.6-carat “Graff Ruby” for $8.6 million. It was also the highest price per carat for a ruby at $997,727.

SOTHEBY’S INSTITUTE OF ART

Sotheby’s Institute of Art has a network of more than 6,000 alumni working in the art markets around the world.

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TTRSIR.COM

SIX RECORD-BREAKING SALES FROM

TTR SOTHEBY’S INTERNATIONAL REALTY IN 2014

1. PATTERSON MANSION 15 DUPONT CIRCLE NW, WASHINGTON DC

2. RIVER VIEW ESTATE 7979 EAST BOULEVARD DRIVE, ALEXANDRIA VA

3. PENTHOUSE AT PARC SOMSERSET 5630 WISCONSIN AVENUE #1801, CHEVY CHASE MD

4. LOGAN CIRCLE, DC

5. PENTHOUSE AT THE WATERVIEW RESIDENCES 1111 19TH STREET N #3001, ARLINGTON VA

6. GEORGETOWN, DC

In 2014, TTR Sotheby’s International Realty proudly represented 6 record-breaking sales in the Washington region. The iconic Patterson Mansion on 15 Dupont Circle NW sold for $20 million, the highest residential sale in the District of Columbia. In Northern Virginia, we represented the seller of the River View Estate, which sold for $18.6 million, the highest sale in Northern Virginia. The penthouse at the Parc Somerset in Chevy Chase, MD sold for $8.65 million, setting a new record for the most expensive condominium sale in the history of the Washington Region. The sale of an impressive rowhouse for $3.9 million set the record for the highest sale in Downtown Washington, DC. In Rosslyn, the penthouse a t The Waterview Residences sold for $3.75 million, breaking the record for highest sale in Arlington, Virginia. Finally, the sale of an expansive condominium in Georgetown set the record for the highest condominium sale in Washington, DC for $6 million.

FIRST QUARTER 2015

TTRSIR LUXURY REPORT

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CONDOS & CO-OP SALES Sales statistics for Washignton DC, Virginia, and Maryland.

WASHINGTON, DC CAPITOL HILL

2013

2014

%

KALORAMA

2013

2014

%

44

46

4%

UNITS SOLD

221

151

-32%

AVG SOLD PRICE

$389,980

$368,740

-5%

AVG SOLD PRICE

$576,880

$564,463

-2%

DAYS ON MARKET

38

40

5%

DAYS ON MARKET

33

31

-6%

DOWNTOWN

2013

2014

%

LOGAN

2013

2014

%

UNITS SOLD

120

151

26%

UNITS SOLD

276

208

-24%

AVG SOLD PRICE

$505,101

$574,332

14%

AVG SOLD PRICE

$582,559

$624,698

7%

DAYS ON MARKET

23

36

56%

DAYS ON MARKET

22

19

-14%

DUPONT

2013

2014

%

2013

2014

%

UNITS SOLD

237

235

-1%

UNITS SOLD

215

201

-6%

AVG SOLD PRICE

$441,8751

$450,513

2%

AVG SOLD PRICE

$492,750

$499,907

1%

DAYS ON MARKET

34

27

-20%

DAYS ON MARKET

26

22

-15%

FOGGY BOTTOM/ WEST END

2013

2014

%

2013

2014

%

82

73

-11%

UNITS SOLD

18

35

94%

AVG SOLD PRICE

$331,555

$418,344

26%

AVG SOLD PRICE

$506,728

$578,363

14%

DAYS ON MARKET

60

31

-48%

DAYS ON MARKET

35

19

-46%

2013

2014

%

2013

2014

%

78

77

-1%

UNITS SOLD

73

72

-1%

AVG SOLD PRICE

$811,659

$781,566

-4%

AVG SOLD PRICE

$441,781

$432,975

-2%

DAYS ON MARKET

57

46

-19%

DAYS ON MARKET

44

47

7%

UNITS SOLD

UNITS SOLD

GEORGETOWN UNITS SOLD

1931 12th St NW #B, Washington DC LISTED FOR $1,848,000

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TTRSIR.COM

MOUNT PLEASANT

SHAW

WESLEY HEIGHTS/ CATHEDRAL

98.4%

Average Sold-Price-toOriginal-List Price Ratio of Condo & Co-Op Sales in Washington, DC

1444 Church Street NW #704, Washington DC SOLD FOR $1,329,000

1881 Nash Street N #2110, Arlington VA | SOLD FOR $2,600,000

2305 Main Line Blvd #102, Alexandria VA SOLD FOR $735,000

4802 Montgomery Lane #701, Bethesda MD | LISTED FOR $3,850,000

VIRGINIA ARLINGTON

2013

2014

%

McLEAN

2013

2014

%

UNITS SOLD

1,581

1,445

-8%

UNITS SOLD

198

193

-2%

AVG SOLD PRICE

$420,359

$414,365

-1%

AVG SOLD PRICE

$412,078

$404,582

-2%

DAYS ON MARKET

27

34

26%

DAYS ON MARKET

23

35

52%

BETHESDA

2013

2014

%

2013

2014

%

UNITS SOLD

333

286

-14%

UNITS SOLD

156

114

-27%

AVG SOLD PRICE

$394,328

$384,164

-3%

AVG SOLD PRICE

$654,428

$703,925

7%

DAYS ON MARKET

38

41

8%

DAYS ON MARKET

33

31

-6%

97.2%

Average Sold-Priceto-Original-List Price Ratio of Condo Sales in Northern Virginia

MARYLAND CHEVY CHASE

96.4%

Average Sold-Priceto-Original-List Price Ratio of Condo Sales in Montgomery County

Source: MRIS, 1/1/2013-12/31/2014. Data deemed reliable, but not guaranteed.

FIRST QUARTER 2015

TTRSIR LUXURY REPORT

11

LEADERSHIP TEAM JONATHAN TAYLOR Founder, Managing Partner MICHAEL RANKIN Managing Partner MARK C. LOWHAM Managing Partner DERRICK SWAAK Partner, Brokerage Manager, McLean DAVID DESANTIS Partner, Brokerage Manager, Chevy Chase FRED KENDRICK Brokerage Manager, Georgetown MARY BARRY Brokerage Manager, Downtown ROB CARNEY Brokerage Manager, Alexandria JEANNE CHOI Vice President, Marketing & Communications TRISH YAN Vice President, Business Development

AVERAGE SOLD PRICE

TOTAL UNITS SOLD

SOLD DOLLAR VOLUME

2013

2014

% change

2013

2014

% change

2013

2014

WASHINGTON, DC

$589,036

$620,026

5%

7,954

7,949

0%

$4,685,194,821

$4,928,582,746

% change 5%

ARLINGTON COUNTY, VA

$604,929

$622,619

3%

2,989

2,774

-7%

$1,808,132,961

$1,727,145,371

-4%

FAIRFAX COUNTY, VA

$531,567

$538,280

1%

15,066

13,549

-10%

$8,008,595,324

$7,293,150,517

-9%

ALEXANDRIA CITY, VA

$517,859

$538,082

4%

2,416

2,262

-6%

$1,251,147,952

$1,217,141,599

-3%

MONTGOMERY COUNTY, MD

$500,338

$503,956

1%

11,461

10,976

-4%

$5,734,370,572

$5,531,420,801

-3%

Source: General market data via MRIS, 1/1/2013-12/31/2014. Data deemed reliable, but not guaranteed.

Clients of TTR Sotheby's International Realty benefit from the firm's global reach, powerful marketing and superior professional service, regardless of price. In addition to our record sales, we sold approximately $900 million in properties under $1 million in 2014.

Source: MRIS, 1/1/201412/31/2014. Data deemed reliable, but not guaranteed.

Number of TTRSIR Transactions

28%

45%

15%

12%

Under $500K

$500K - $1M

$1M - 1.5M

Above $1.5M

Dollar Volume of TTRSIR Transactions

11%

34%

20%

35%

Under $500K

$500K - $1M

$1M - 1.5M

Above $1.5M

This material is based upon information that we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. This offering is subject to errors, omissions, changes, including price, or withdrawal without notice. ©MMXV Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office Is Independently Owned And Operated. SIR1