Market report q3

MARKET REPORT W W W . K W M E T R O C E N T E R . C O M

Q3

There is little doubt that the Greater DC real estate market continues to exhibit strong growth as evidenced in our YTD numbers. All three markets, NOVA, Washington, D.C. and the Maryland Suburbs, show strength in both units sold and an increase in average sold price. Inventory levels continue to be a factor but we are seeing a positive trend in the growth of homes becoming available for sale.

Additionally, average days-on-market have decreased in all three markets YTD.

10,469 UNITS SOLD

Job Growth, low unemployment and housing starts (especially multi-unit) have contributed greatly to the current state of our real estate market. Continued low interest rates and incentivized loan programs are impacting first time home buyers as well as “move up� buyers. Rounding out the year, expect to see a seasonal trend of a slower market but 2018 promises to be as robust as 2017.

$513,939

$5.4 B

MEDIAN SALE PRICE

S O L D D O L L A R VO L U M E

NORTHERN VIRGINIA

WA S H I N G T O N ,

CONTENTS

7

CAPITOL

D. C .

HILL

7 D O W N T O W N 7 D U P O N T 8

F O G G Y

B O T T O M / W E S T

8 G E O R G E T O W N 8 K A L O R A M A 8

L O G A N

C I R C L E

9

M O U N T

P L E A S A N T

9 S H AW 9

NORTHERN

W E S L E Y

H E I G H T S

VIRGINIA

3

ALEXANDRIA

3

ARLINGTON

3

FALLS

4

LORTON

4

LOUDOUN

5

M c L E A N

11 P O T O M AC

5

SPRINGFIELD

12 R O C K V I L L E

5

VIENNA

12

MARYLAND

CHURCH 11 B E T H E S D A COUNTY

11

C H E V Y

S I LV E R

C H A S E

S P R I N G

E N D

→

NORTHERN VIRGINIA

C E N T E R M E T R O

“

4.3% QTD

Fall is upon us and the market in it’s traditional seasonal swing has slowed just a tad but home sales remain very strong overall. Low inventory levels continue to hamper what could be an even stronger market for first time home buyers and move up buyers with inventory decreases ranging from -12.6% in July, -9% in August and -8.1% in September.

- Jim Lyons, Broker

HOME PRICES PROJECTED TO RISE 3-4% IN 2018 * S o u r c e N VA R - S e p t e m b e r 2 0 1 7

2

“

K W

N O R T H E R N V I R G I N I A AV E R AG E S A L E P R I C E

Alexandria

units sold avg sold price Single Family avg days on market

Q3 2016 115 $883,690 54

Q32017 111 $897,089 64

% -4% +2% +19%

Arlington

units sold avg sold price Townhouse avg days on market units sold avg sold price Condo & Coop avg days on market units sold avg sold price Single Family avg days on market

213 $657,563 26 345 $310,313 58 279 $943,876 34

219 $733,860 37 334 $335,741 36 301 $972,371 46

+3% +12% +12% -3% +8% -40% +8% +3% +35%

65

64

-2%

avg sold price Townhouse avg days on market

$723,562 26

$746,320 34

+3% +31%

units sold avg sale price Condo & Coop avg days on market

441 $436,841 51

449 $417,755 38

+2% -4% -26%

units sold avg sale price Single Family avg days on market

230 $746,467 47

232 $739,378 41

+1% -1% -13%

units sold avg sale price Townhouse avg days on market

55 $576,113 24

60 $587,507 24

+9% +2% 0%

units sold avg sale price Condo & Coop avg days on market

140 $293,038 50

150 $280,367 36

+7% -4% -28%

units sold

ALEXANDRIA HOMES AVERAGE SALE PRICE

5.1% YTD

→

Falls Church

3

Lorton

units sold avg sold price Single Family avg days on market

Q3 2016 50 $611,780 70

Q32017 53 $630,195 129

% +6% +3% +84%

Loudoun County

units sold avg sold price Townhouse avg days on market units sold avg sold price Condo & Coop avg days on market units sold avg sold price Single Family avg days on market

64 $378,000 30 17 $256,288 43 928 $603,317 62

50 $386,064 29 15 $256,927 20 955 $624,095 47

-21% +2% -3% -11% +.2% -53% +3% +3% -24%

units sold avg sold price Townhouse avg days on market

697 $400,268 29

671 $427,515 23

-4% +7% -21%

units sold avg sale price Condo & Coop avg days on market

281 $277,786 42

271 $291,014 31

-4% +5% -26%

4

Q3 2016 122 $1,308,125 64

Q3 2017 148 $1,495,445 61

% +21% +14% -5%

33 $747,779 32 72 $395,835 55 229 $534,033 39

26 $745,304 43 75 $378,547 50 230 $545,147 28

-21% -.3% +34% +4% -4% -9% +.4% +2% -28%

155

116

-25%

avg sold price Townhouse avg days on market

$404,896 21

$410,444 20

+1% -4%

units sold avg sale price Condo & Coop avg days on market

36 $243,803 22

34 $239,819 25

-5% -2% +13%

units sold avg sale price Single Family avg days on market

205 $901,093 67

168 $963,508 57

-18% +6% -15%

units sold avg sale price Townhouse avg days on market

54 $622,414 37

36 $623,427 26

-33% +.1% -29%

units sold avg sale price Condo & Coop avg days on market

24 $316,296 65

36 $336,919 66

+50% +7% +2%

McLean

units sold avg sold price Single Family avg days on market

Springfield

units sold avg sold price Townhouse avg days on market units sold avg sold price Condo & Coop avg days on market units sold avg sold price Single Family avg days on market units sold

Vienna

5

WA S H I N G T O N , D . C .

C E N T E R M E T R O K W

One of DC’s largest development, Capitol Riverfront, has transformed this waterfront area into a dynamic multi use development featuring 20 restaurants, 43 residential properties, 4 hotels, 8 parks, 3 metro lines and just 5 blocks from the capitol.

6

Capitol Hill

units sold avg sold price Single Family avg days on market

Q3 2016 7 $990804 52

Q32017 5 $1,308,000 126

% -27% +32% +143%

Downtown

units sold avg sold price Townhouse avg days on market units sold avg sold price Condo & Coop avg days on market units sold avg sold price Single Family avg days on market

74 $931,967 29 24 $439,058 32 -

73 $970,005 22 18 $629,911 32 -

-1.4% +4.1% -24% -25% +43% -

2

-

-

$1,710,000 48

-

-

49 $372,791 22

38 $380,076 31

-22% +2% +41%

-

-

-

3 $1,428,333 101

3 $1,606,667 24

+13% -73%

19 $507,911 24

34 $419,797 22

+79% -17% -8%

units sold avg sold price Townhouse avg days on market units sold avg sale price Condo & Coop avg days on market

Dupont

units sold avg sale price Single Family avg days on market units sold avg sale price Townhouse avg days on market units sold avg sale price Condo & Coop avg days on market

The revitalization of the “H� street corridor has helped the Capitol Hill area achieve record home sale prices with a 16.7% YTD increase!

7

Q3 2016 -

Q32017 -

% -

Foggy Bottom/ West End

units sold avg sold price Single Family avg days on market

Georgetown

units sold avg sold price Townhouse avg days on market units sold avg sold price Condo & Coop avg days on market units sold avg sold price Single Family avg days on market

2 $723,500 29 67 $692,143 47 2 $1,687,500 184

1 $1,800,000 0 59 $583,017 60 4 $2,137,625 45

-50% +149% -12% -16% +28% +100% +27% -75%

units sold avg sold price Townhouse avg days on market

38 $1,687,684 59

40 $1,654,700 42

+5% -2% -29%

13 $594,338 50

22 $755,314 101

+69% +27% +102%

units sold avg sale price Single Family avg days on market

3 $4,483,333 154

1 $302,000 55

-67% -93% -64%

units sold avg sale price Townhouse avg days on market

4 $2,224,750 26

7 $2,430,000 44

+75% +9% +69%

41 $627,387 30

42 $546,308 24

+2% -13% -20%

-

1 $2,600,000 6

-

3 $1,312,000 21

2 $1,682,500 11

-33% +28% -48%

36 $731,811 26

37 $899,484 23

+3% +23% -12%

units sold avg sale price Condo & Coop avg days on market

Kalorama

units sold avg sale price Condo & Coop avg days on market

Logan Circle

units sold avg sale price Single Family avg days on market units sold avg sale price Townhouse avg days on market units sold avg sale price Condo & Coop avg days on market

8

Q3 2016 4 $374,500 5

Q32017 2 $1,113,750 37

% -50% +198% +640%

23 $1,078,361 17 33 $463,406 28 -

11 $1,109,745 21 33 $508,095 23 -

-52% +3% +24% +10% -18% -

6

9

+50%

avg sold price Townhouse avg days on market

$839,250 14

$996,250 39

+19% 178%

units sold avg sale price Condo & Coop avg days on market

10 $757,500 32

9 $730,372 30

-10% -4% -6%

units sold avg sale price Single Family avg days on market

8 $2,330,938 62

3 $2,748,333 62

-63% +18% -

units sold avg sale price Townhouse avg days on market

2 $1,026,250 9

0 $1,101,000 0

+7% -

19 $433,584 86

20 $339,670 106

+5.3% -22% +23%

Mount Pleasant

units sold avg sold price Single Family avg days on market

Shaw

units sold avg sold price Townhouse avg days on market units sold avg sold price Condo & Coop avg days on market units sold avg sold price Single Family avg days on market units sold

Wesley Heights

units sold avg sale price Condo & Coop avg days on market

INVENTORY LEVELS IN WASHINGTON, DC FOR SEPTEMBER

→

9.8% 9

M A RY L A N D BETHESDA TOWNHOUSE AVERAGE SALE PRICE

29.7%

→

C E N T E R M E T R O K W

- Jim Lyons, Broker

10

“

“

Montgomery County continues to see positive numbers across most housing measurements for the third quarter of 2017. The average sales price of 1.2% was slightly behind the YTD increase of 3.2% but well ahead of the -1.9% decrease in the third quarter of 2016. Inventory levels continue to fluctuate contributing to the uneven unit sales seen over this period (Q3 2017).

Bethesda

units sold avg sold price Single Family avg days on market

Q3 2016 218 $1,162,155 68

Q32017 205 $1,141,329 54

% -6% -2% -21%

Chevy Chase

units sold avg sold price Townhouse avg days on market units sold avg sold price Condo & Coop avg days on market units sold avg sold price Single Family avg days on market

13 $884,589 26 94 $447,495 58 72 $1,283,606 39

10 $1,101,900 41 78 $361,206 61 69 $1,268,711 49

-24% +25% +58% -17% -19% +5% -4% -1% +25%

units sold avg sold price

-

3 $1,844,587

-

Townhouse avg days on market

-

-

-

48 $623,417 53

46 $574,093 54

-4% -8% +2%

153 $1,058,876 79

135 $1,067,412 73

-12% +1% -8%

units sold avg sale price Townhouse avg days on market

28 $736,925 34

25 $734,104 35

-11% -.3% +3%

units sold avg sale price Condo & Coop avg days on market

2 $630,000 37

-

-

units sold avg sale price Condo & Coop avg days on market

Potomac

units sold avg sale price Single Family avg days on market

The Chevy Chase Lake Project continues to move forward with construction to begin in late 2017.

This multi use development will include residential, retail and be steps from the purple metro line.

11

Rockville

units sold avg sold price Single Family avg days on market

Q3 2016 237 $541,331 37

Q32017 233 $570,892 35

% -2% +5% -5%

Silver Spring

units sold avg sold price Townhouse avg days on market units sold avg sold price Condo & Coop avg days on market units sold avg sold price Single Family avg days on market

70 $591,938 39 145 $338,287 45 551 $451,121 41

55 $535,745 32 155 $319,015 57 455 $475,533 34

-21% -9% -18% +7% -6% +27% -17% +5% -17%

units sold avg sold price Townhouse avg days on market

109 $340,447 34

112 $368,098 28

+3% +8% -18%

units sold avg sale price Condo & Coop avg days on market

233 $207,461 44

194 $211,565 40

-17% +2% -9%

12

KW Metro Center operates three offices in the Northern Virginia market serving residential and commercial real estate in three market areas-NOVA, Wash DC and the Maryland Suburbs. We are dedicated to providing the highest level of service and have the resources of over 600 local agents to deliver on this service level pledge. Keller Williams is the largest training organization in the world across all industries guaranteeing experienced and knowledgeable agents to help facilitate any real estate transaction. We are proud that serving and giving back to our communities is a cornerstone of our culture with many local, national and international events. Our signature community event is called “Red Day”. A day designated every year where agents in every community donate their time, money and resources to help organizations in their communities.

Please Join Us For Our

THURSDAY NOVEMBER 9, 2017 6:30 PM - 10:00 PM Featuring The Lyon Heart Band with special guest artists, delectable food and drink, special guest speakers, silent auction and live auction items, riveting conversation!

All proceeds from this annual event go to three of Arlington’s non-profits, A-SPAN (Arlington Street People’s Assistance Network), Bridges to Independence, and Edu-Futuro. These organizations provide critical services and programs to people most at risk in our community.

KW METRO CENTER 1701 DUKE STREET SUITE 100 ALEXANDRIA, VA 22314