2020 McEnearney Associates DC-MD-VA Second Half Market Report

2020 SECOND HALF

Market Report DC

MD

VA

Front Cover 611 QUEEN STREET Alexandria, VA 22314 $1,795,000 | MLS# VAAX255452

2 2020 SECOND HALF MARKET REPORT

Table of Contents 4

Q&A with Maureen McEnear ney Dunn & David Howell

5

2020 Year in Review

8

Washington, DC Review

12

City of Alexandria, V irginia Review

16

Arlington County & Falls Church City, V irginia Review

20

Fairfax County & Fairfax City, V irginia Review

24

Loudoun County, V irginia Review

28

Prince W illiam County, V irginia Review

32

Fauquier County, V irginia Review

36

Montgomery County, Maryland Review

40

Prince George’s County, Maryland Review

42

Luxury Listings Showcase

54

McEnear ney Associates’ Leadership Team 3

2020 SECOND HALF MARKET REPORT

Q&A with Maureen McEnearney Dunn PRESIDENT OF McENEARNEY ASSOCIATES At the halfway point of 2020, could you have envisioned that the region’s real estate market in the second half of the year would be this strong?

By late May, there were certainly early signs that the market was coming back as some of the initial COVID-19 restrictions were lifted. But the honest answer is “no.” We were encouraged and optimistic, but we did not predict that we were going to end up having a record year. And as great as that is, it’s bittersweet because we know that there are so many people and so many businesses that are still struggling. We are first and foremost members of our community. We live here, we work here, and we know there is still a long way to go before life will return to normal.

Six months ago, we asked whether the market has recovered, and you characterized it as a rebound.

Do you feel differently now?

There is no doubt that the overall real estate market has recovered. As in any market, there are some pockets that outperform others, but the fundamental strength of the market is undeniable. Yet there are other things we’re concerned about. Because of the uneven recovery in the economy, where huge segments of the travel, hospitality industry, and retail industries are likely to struggle for a long time, there are too many people who are unemployed and don’t have access to affordable housing. So, the real estate market has recovered but the region’s economy hasn’t.

What stand out as the biggest trends?

There’s a lot to unpack in that question! But I think there are three major trends that have emerged and that we’ll be keeping a close eye on in the months ahead. The first is historically low mortgage interest rates. Those rates have been a major factor in the surge in demand for housing. The second is the historically low inventory — the number of detached and attached homes on the market is dramatically lower than a year ago, and there is a truly critical shortage in the suburban markets. And the third relates to the impact of COVID on the dynamics of the market. While there has been no flight to the suburbs like we have seen in San Francisco and New York, there is clearly a desire for more “elbow room.” The outer suburbs have outperformed the inner city and close-in suburbs, and there has been an explosion of condo inventory in those close-in areas. We know this relative imbalance won’t last forever — nothing ever does — but this overhang of condo inventory relative to demand is likely to be with us for a while.

How has the real estate business changed since the onset of COVID-19?

Some significant parts of the process of buying and selling homes changed as we, and the rest of the industry, rapidly embraced tools and technologies that accommodated virtual showings and remote closings, as well as socially-distant and safe business practices. And along with everyone else, we’re all suffering from Zoom fatigue!

Yet at its core, this is still a relationship business. We may be delivering service to our clients a bit differently, but technology is a tool. It still is critically important that there is a trusting relationship between a committed, knowledgeable professional focused on doing the right thing and their client. That has been our commitment for the past 40 years, and we don’t expect that to change.

4 2020 SECOND HALF MARKET REPORT

2020 YEAR IN REVIEW

$2.1+ Billion in Sales

3,783 NUMBER OF CLIENTS WE SERVED

2,759 NUMBER OF SALES

1,024 NUMBER OF RENTALS

WE ARE PROUD TO BE A TRUSTED REAL ESTATE RESOURCE IN THE DC METRO AREA 5 2020 SECOND HALF MARKET REPORT

1342 CORCORAN ST NW Washington, DC 20009 SOLD | MLS # DCDC480854

6 2020 SECOND HALF MARKET REPORT

7 2020 SECOND HALF MARKET REPORT

Washington, DC Given the impact of COVID-19 on almost every aspect of life, at the halfway point of 2020, it would have seemed implausible at best to envision the strength of Washington, DC’s real estate market.

As it emerged from the early COVID-related shutdowns, DC’s market showed strength in every property type – condos/co-ops, attached and detached homes – and virtually every important metric pointed in the favor of sellers. The pent-up demand from a deferred spring market was further fueled by historically low interest rates. And buyers who came rushing back into the market in the second half of the year found significantly fewer attached and detached homes on the market. That was not the case for condos and co-ops.

MARKET SHARE BY TYPE 2019 Second Half vs. 2020 Second Half Detached Homes

2H2019

15.80%

2H2020

14.20%

Attached Homes

Condominiums

36.78%

47.41%

36.19%

49.61%

At the end of the year, there were 65% more condos and co-ops on the market than at the end of 2019, and smaller units had an even greater disparity. The inventory of studio condos was 250% greater, 1-bedrooms were up 136%, and 2-bedrooms were up 26%. Interestingly, 3-bedroom inventory was down 16%.

This strongly suggests that owners of these smaller properties are seeking more elbow room and a lifestyle that involves less dense accommodations. And even though the demand for these units rose throughout the recovery – largely because of low interest rates – the significant shift in the supply vs. demand equation gives condo buyers a little more negotiating leverage. Initial pricing strategy always matters, but it matters even more for DC’s condo sellers.

100%

The inventory of detached homes was down an average of 35% compared to the second half of 2019, and attached home inventory was off almost 20%. But as the charts below indicate, the inventory of condos and co-ops rose steadily.

MARKET SHARE BY PRICE 2019 Second Half vs. 2020 Second Half $0-$299K

$300K-$499K

$500K-$749K

$750K-$999K

$1M-$1.49M

$1.5M+

1600

Available 2019 Available 2020

1400 1300

1,347

Month-End Available Inventory Last 8 Months of 2019 vs. Last 8 Months of 2020

1500

1,550

Washington, DC – Studio Condos/Co-ops

1200

120

1,216

1,274

140

1100

1,114

100 80

1000

60 900 40 800

20

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

700

701

JUNE

767

MAY

600

Washington, DC – 1-Bedroom Condos/Co-ops

400

415

449

492

500

Available 2019 Available 2020

300

380

Month-End Available Inventory Last 8 Months of 2019 vs. Last 8 Months of 2020 600

200

288

500 400

100

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

Washington, DC – 2-Bedroom Condos/Co-ops Available 2019 Available 2020

Month-End Available Inventory Last 8 Months of 2019 vs. Last 8 Months of 2020 700 600 500 400 300 200 100

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

8 2020 SECOND HALF MARKET REPORT

2H2020

2H2019

2H2020

2H2019 1H2019

2H2020

2H2019

2H2020

2H2019

2H2020

100

2H2019

2H2019

200

2H2020

300

ALL PROPERTIES

CONDOMINIUMS

ATTACHED HOMES

DETACHED HOMES

WASHINGTON, DC Second Half 2019

Second Half 2020

% Change

Number of Units Sold

709

782

10.30%

Average Days on Market

42.5

27.9

-34.35%

Average Sold Price

$1,039,734

$1,190,588

14.51%

Average Original List Price

$1,072,196

$1,205,380

12.42%

97.0%

98.8%

1.86%

Lowest Price Home

$102,219

$169,900

66.21%

Highest Price Home

$9,115,000

$7,295,000

-19.97%

Number of Units Sold

1,650

1,993

20.79%

Average Days on Market

33.0

20.2

-38.79%

Average Sold Price

$808,998

$906,176

12.01%

Average Original List Price

$828,315

$911,203

10.01%

97.7%

99.4%

1.74%

Lowest Price Home

$120,000

$80,000

-33.33%

Highest Price Home

$5,250,000

$5,200,000

-0.95%

Number of Units Sold

2,127

2,732

28.44%

Average Days on Market

35.3

28.7

-18.70%

Average Sold Price

$547,674

$565,958

3.34%

Average Original List Price

$558,877

$578,773

3.56%

98.0%

97.8%

-0.20%

Lowest Price Home

$30,000

$55,000

83.33%

Highest Price Home

$6,500,000

$5,100,000

-21.54%

Number of Units Sold

4,486

5,507

22.76%

Average Days on Market

35.6

25.5

-28.37%

Average Sold Price

$721,561

$777,782

7.79%

Average Original List Price

$739,108

$788,059

6.62%

97.6%

98.7%

1.13%

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

9 2020 SECOND HALF MARKET REPORT

30 ALEXANDER STREET Alexandria, VA 22314 SOLD | MLS# VAAX250512

10 2020 SECOND HALF MARKET REPORT

11 2020 SECOND HALF MARKET REPORT

City of Alexandria, Virginia The City of Alexandria rebounded from COVID-19’s impact on the market, but as is true for other close-in jurisdictions, that rebound has been a little uneven.

Total unit sales were up a very healthy 37% in the second half of 2020 compared to the same time in 2019. That increase would likely have been higher had there been more detached and attached homes to purchase. There was an average drop of 33% of these types of homes actively on the market, but it was a different story for condos.

Historically, condos make up about 40% of all the homes on the market at any given time in Alexandria, followed by attached homes at 35% and detached homes at 25%.

But COVID changed that relationship almost overnight.

That shift in the supply vs. demand equation gives condo buyers more negotiating leverage that buyers of attached and detached homes do not have in this market. And that is among the reasons that condos were on the market 32% longer in the second half of 2020 compared to the second half of 2019.

2019 Second Half vs. 2020 Second Half Detached Homes

Attached Homes

18.45%

2H2019

42.02%

39.54%

15.02%

2H2020

Condominiums

43.30%

41.68%

100%

As the region emerged from the COVID-induced shutdowns in May, some clear patterns emerged. Attached home inventory was down an average of 22% and detached home was off 44%. But condo inventory began a steady and significant climb as the charts below indicate. A high percentage of Alexandria’s condo units are in buildings with elevators, and it is clear that a growing number of the owners of these types of properties wanted to exit that lifestyle. By the end of the year, active condo inventory constituted 80% of all the homes on the market. Overall condo inventory was up 254%, and the inventory of smaller units – studios and 1-bedrooms – was up even more.

MARKET SHARE BY TYPE

MARKET SHARE BY PRICE 2019 Second Half vs. 2020 Second Half $0-$299K

$300K-$499K

$500K-$749K

$750K-$999K

$1M-$1.49M

$1.5M+

397

400

325

325

Available 2019 Available 2020

300

291

6

304

317

Month-End Available Inventory Last 8 Months of 2019 vs. Last 8 Months of 2020

350

350

City of Alexandria – Studio Condos

5

275

250

253

4 3

225

2

200

197

1

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

175

DECEMBER

150

125

134

City of Alexandria – 1-Bedroom Condos Available 2019 Available 2020

100

75

82

95

Month-End Available Inventory Last 8 Months of 2019 vs. Last 8 Months of 2020 90 80

50

70 25

31

60 50

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

City of Alexandria –­ 2-Bedroom Condos Available 2019 Available 2020

Month-End Available Inventory Last 8 Months of 2019 vs. Last 8 Months of 2020 140 120 100 80 60 40 20

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

12 2020 SECOND HALF MARKET REPORT

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

10

2H2020

20

2H2019

2H2019

30

2H2020

40

ALL PROPERTIES

CONDOMINIUMS

ATTACHED HOMES

DETACHED HOMES

CITY OF ALEXANDRIA Second Half 2019

Second Half 2020

% Change

Number of Units Sold

216

241

11.57%

Average Days on Market

27.6

32.3

16.67%

Average Sold Price

$929,666

$1,147,373

23.42%

Average Original List Price

$945,071

$1,181,208

24.99%

98.4%

97.1%

-1.32%

Lowest Price Home

$425,000

$525,000

23.53%

Highest Price Home

$2,825,000

$4,825,000

70.80%

Number of Units Sold

463

695

50.11%

Average Days on Market

21.7

22.1

1.84%

Average Sold Price

$713,484

$772,552

8.28%

Average Original List Price

$716,512

$778,582

8.66%

99.6%

99.2%

-0.40%

Lowest Price Home

$215,000

$270,000

25.58%

Highest Price Home

$2,496,041

$3,400,000

36.22%

Number of Units Sold

492

669

35.98%

Average Days on Market

16.0

21.2

32.50%

Average Sold Price

$324,061

$454,267

40.18%

Average Original List Price

$325,729

$458,334

40.71%

99.5%

99.1%

-0.40%

Lowest Price Home

$110,500

$123,000

11.31%

Highest Price Home

$2,850,000

$5,250,000

84.21%

Number of Units Sold

1,171

1,605

37.06%

Average Days on Market

20.4

23.2

13.73%

Average Sold Price

$589,743

$696,165

18.05%

Average Original List Price

$594,482

$705,552

18.68%

99.2%

98.7%

-0.50%

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

13 2020 SECOND HALF MARKET REPORT

928 N DANIEL STREET Arlington, VA 22201 SOLD | MLS# VAAR169568

14 2020 SECOND HALF MARKET REPORT

15 2020 SECOND HALF MARKET REPORT

Arlington County & Falls Church City, Virginia

Since a high percentage of Arlington’s condo units are in building with elevators, this suggests that owners of these types of properties would like to exit that lifestyle, and there aren’t enough buyers who want it. That shift in the supply vs. demand equation gives condo buyers a little more negotiating leverage. And that is among the reasons that condos were on the market longer than last year.

Attached Homes

Arlington County 2H2019

35.04%

2H2020

37.52%

18.24%

46.72%

20.85%

41.63%

Falls Church City 55.17%

2H2019

17.24%

44.04%

2H2020

22.02%

27.59% 33.94%

MARKET SHARE BY PRICE - ARLINGTON COUNTY 2019 Second Half vs. 2020 Second Half $0-$299K

$300K-$499K

$500K-$749K

$750K-$999K

$1M-$1.49M

$1.5M+ 400

357

Falls Church City Detached and attached homes sold much more rapidly in the second half of 2020, while condos sold in just about the same amount of time. The real estate market in Falls Church is very healthy, and, as is true throughout the region, the biggest challenge is the lack of available inventory – especially for detached and attached homes.

350

300

297

334

250

250

Arlington County – Studio Condos/Co-ops

Available 2019 Available 2020

200

184

Month-End Available Inventory Last 8 Months of 2019 vs. Last 8 Months of 2020

Condominiums

246

At the end of the year, there were 360% more condos and co-ops on the market than at the end of 2019, and smaller units had an even greater disparity. The inventory of studio condos was 575% greater, and 1-bedrooms were up 753%. 2-bedrooms were up 388%, and, interestingly, 3-bedroom inventory was up “only” 57%.

Detached Homes

100%

The story of available inventory is substantially different. The inventory of detached homes was down an average of 60% compared to the second half of 2019 and attached home inventory was off almost 10%. But as the charts below indicate, the inventory of condos and co-ops rose steadily and significantly.

2019 Second Half vs. 2020 Second Half

347

Arlington County Almost every important market indicator in the second half of 2020 was improved compared to the second half of 2019. Fueled by record low interest rates and pent-up demand from a spring market that was crushed by COVID-19, the number of sales increased for detached (up 31%), attached (up 40%), and condos (up 9%). With the exception of condos, they sold more rapidly as well.

MARKET SHARE BY TYPE

367

As is true throughout the Washington metro area, Arlington County and Falls Church City’s real estate markets had exceptionally strong rebounds following the loosening of the COVID-related shutdown in the spring of 2020.

150

162

160

30

130

25 20

100

83

15 10

50

Available 2019 Available 2020

Month-End Available Inventory Last 8 Months of 2019 vs. Last 8 Months of 2020

2H2020

2H2019

2H2020

Arlington County – 1-Bedroom Condos

2H2019

DECEMBER

2H2020

NOVEMBER

2H2019

OCTOBER

2H2020

SEPTEMBER

2H2019

AUGUST

2H2020

JULY

2H2019

JUNE

2H2020

MAY

2H2019

5

MARKET SHARE BY PRICE - FALLS CHURCH CITY 2019 Second Half vs. 2020 Second Half

200 180 160

40

140 120

35

100 80

30

60

29

40 20

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

25

JULY

20

23

JUNE

21

MAY

25

25

18

Arlington County – 2-Bedroom Condos

17

15

Available 2019 Available 2020 11

200

11

10

10

Month-End Available Inventory Last 8 Months of 2019 vs. Last 8 Months of 2020

5

180

4

2

160

80 60 40

16

20

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

2020 SECOND HALF MARKET REPORT

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

2H2020

100

2H2019

2H2019

120

2H2020

140

ALL PROPERTIES

CONDOMINIUMS

ATTACHED HOMES

DETACHED HOMES

ARLINGTON COUNTY

FALLS CHURCH CITY

Second Half 2019

Second Half 2020

% Change

Second Half 2019

Second Half 2020

% Change

Number of Units Sold

459

603

31.37%

48

48

0.00%

Average Days on Market

37.0

31.2

-15.68%

45.7

24.4

-46.61%

Average Sold Price

$1,091,595

$1,159,486

6.22%

$989,360

$1,141,809

15.41%

Average Original List Price

$1,115,097

$1,166,707

4.63%

$1,005,531

$1,155,723

14.94%

97.9%

99.4%

1.53%

98.4%

98.8%

0.41%

Lowest Price Home

$400,000

$458,000

14.50%

$470,000

$635,000

35.11%

Highest Price Home

$2,910,735

$3,470,000

19.21%

$1,646,600

$1,974,000

19.88%

Number of Units Sold

239

335

40.17%

15

24

60.00%

Average Days on Market

15.6

14.8

-5.13%

24.8

10.8

-56.45%

Average Sold Price

$642,226

$717,986

11.80%

$760,967

$706,675

-7.13%

Average Original List Price

$639,830

$718,105

12.23%

$772,860

$702,058

-9.16%

100.4%

100.0%

-0.40%

98.5%

100.7%

2.23%

Lowest Price Home

$151,000

$325,000

115.23%

$430,000

$420,000

-2.33%

Highest Price Home

$3,210,000

$1,985,000

-38.16%

$940,000

$1,100,000

17.02%

Number of Units Sold

612

669

9.31%

24

37

54.17%

Average Days on Market

22.5

27.7

23.11%

21.5

20.1

-6.51%

Average Sold Price

$444,665

$468,907

5.45%

$475,663

$415,709

-12.60%

Average Original List Price

$448,214

$479,375

6.95%

$481,516

$419,909

-12.79%

99.2%

97.8%

-1.41%

98.8%

99.0%

0.20%

Lowest Price Home

$95,000

---

-100.00%

$185,000

$189,900

2.65%

Highest Price Home

$3,200,000

---

-100.00%

$775,000

$751,000

-3.10%

Number of Units Sold

1,310

1,607

22.67%

87

109

25.29%

Average Days on Market

26.3

26.3

0.00%

35.4

20.0

-43.50%

Average Sold Price

$707,381

$779,959

10.26%

$808,272

$799,525

-1.08%

Average Original List Price

$716,837

$787,051

9.79%

$820,859

$806,062

-1.80%

98.7%

99.1%

0.41%

98.5%

99.2%

0.71%

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Averae Sold Price vs. List Price

Average Sold Price vs. List Price

17 2020 SECOND HALF MARKET REPORT

1201 MARION AVENUE McLean, VA 22101 SOLD | MLS# VAFX1111734

18 2020 SECOND HALF MARKET REPORT

19 2020 SECOND HALF MARKET REPORT

Fairfax County & Fairfax City, Virginia Fairfax County and City saw a healthy rebound in the second half of 2020 as the region emerged from the COVID-19 shutdowns.

Total unit sales were up roughly 20% for each of the three property types – detached, attached, and condos – compared to the same six-month period the previous year. As was true throughout most of the region, that increase would likely have been greater had there been more detached and attached homes to purchase. There was an average drop of 42% for detached homes actively on the market, and a drop of 37% for attached homes. With the surge in demand, that big drop in available inventory meant there was very tight supply, driving prices higher. But it was a bit of a different story for condos.

MARKET SHARE BY TYPE 2019 Second Half vs. 2020 Second Half Detached Homes

Attached Homes

Condominiums

2H2019

50.31%

31.90%

17.80%

2H2020

50.25%

32.10%

17.66%

The charts below show that as the region emerged from the COVID-induced shutdowns in May, condo inventory began a steady climb. By year’s end, active condo inventory was up 85% compared to the end of 2019, and the inventory of smaller units was up even more. There were 160% more 1-bedroom units and 100% more 2-bedroom units on the market, a clear indication that more sellers than buyers were looking for additional elbow room as a means of coping with the COVID pandemic.

MARKET SHARE BY PRICE 2019 Second Half vs. 2020 Second Half $0-$299K

$300K-$499K

$500K-$749K

$750K-$999K

$1M-$1.49M

$1.5M+

3500

3,491

And as is true in the closer-in jurisdictions, that shift in the supply vs. demand equation gives condo buyers a bit more negotiating leverage that buyers of attached and detached homes do not have in this market.

100%

The closer in jurisdictions with more dense living conditions and more condos with “elevator living” – DC, Arlington County, and Alexandria City – saw enormous increases in condo inventory. In Fairfax, where there are fewer high-rise condos, the increase was noticeable but not as significant.

3250

Fairfax County & City – 1-Bedroom Condos

3000

Available 2019 Available 2020

2750

2,796

Month-End Available Inventory Last 8 Months of 2019 vs. Last 8 Months of 2020

2,628

140

2500

2,516

160

2250

120 100

2000

80 1750 60 1500

1,688

40 20

1250

NOVEMBER

1000

DECEMBER

750

742

Fairfax County & City – 2-Bedroom Condos

500

381

468

Available 2019 Available 2020

Month-End Available Inventory Last 8 Months of 2019 vs. Last 8 Months of 2020

228

OCTOBER

2H2020

SEPTEMBER

2H2019

AUGUST

1,071

JULY

929

JUNE

924

MAY

300 250 200 150 100 50

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

20 2020 SECOND HALF MARKET REPORT

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

350

2H2020

2H2019

400

250

ALL PROPERTIES

CONDOMINIUMS

ATTACHED HOMES

DETACHED HOMES

FAIRFAX COUNTY & FAIRFAX CITY Second Half 2019

Second Half 2020

% Change

Number of Units Sold

4,085

4,895

19.83%

Average Days on Market

42.4

28.8

-32.08%

Average Sold Price

$797,674

$879,728

10.29%

Average Original List Price

$822,134

$890,386

8.30%

97.0%

98.8%

1.86%

Lowest Price Home

$230,000

$250,000

8.70%

Highest Price Home

$8,575,000

$24,000,000

179.88%

Number of Units Sold

2,590

3,127

20.73%

Average Days on Market

21.7

15.1

-30.41%

Average Sold Price

$477,367

$516,142

8.12%

Average Original List Price

$480,788

$513,762

6.86%

99.3%

100.5%

1.21%

Lowest Price Home

$165,000

$135,000

-18.81%

Highest Price Home

$2,300,000

$2,400,000

4.35%

Number of Units Sold

1,445

1,720

19.03%

Average Days on Market

23.8

22.3

-6.30%

Average Sold Price

$309,284

$332,199

7.41%

Average Original List Price

$313,466

$336,463

7.34%

98.7%

98.7%

0.00%

Lowest Price Home

$100,077

$91,000

-9.07%

Highest Price Home

$1,862,000

$2,230,000

19.76%

Number of Units Sold

8,120

9,742

19.98%

Average Days on Market

32.5

23.2

-28.62%

Average Sold Price

$608,596

$666,354

9.49%

Average Original List Price

$622,754

$671,699

7.86%

97.7%

99.2%

1.54%

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

21 2020 SECOND HALF MARKET REPORT

4405 BUTTERWORTH PL NW Washington, DC 20016 SOLD | MLS# DCDC478420

22 2020 SECOND HALF MARKET REPORT

23 2020 SECOND HALF MARKET REPORT

Loudoun County, Virginia Attached Homes

Condominiums

2H2019

46.73%

35.90%

17.37%

2H2020

47.89%

33.95%

18.17%

MARKET SHARE BY PRICE 2019 Second Half vs. 2020 Second Half $0-$299K

$300K-$499K

$500K-$749K

$750K-$999K

$1M-$1.49M

$1.5M+

1800

1,710

1700 1600 1500 1400 1300

1308

• By the end of the year, overall inventory was down 56% compared to the previous December, and unlike the closer-in jurisdictions, inventory was down for all three property types: • Detached home inventory was down 57% • Attached home inventory was down 70% • Condo inventory was down 24% • The total number of sales was up 30% • Detached home sales were up 34% • Attached homes sales were up 24% — and it would have been more had there been more inventory • Condo sales were up 37% • The average days on the market for homes sold dropped from 33 days in the second half of 2019 to just two weeks in the second half of 2020.

Detached Homes

100%

We have rarely seen such a confluence of factors change the market almost overnight. Record low mortgage interest rates, a big jump in the number of buyers, and a stunning lack of inventory all combined to turn Loudoun County into an aggressive sellers’ market. Consider these metrics:

2019 Second Half vs. 2020 Second Half

1,532

Loudoun had been hit hard in the spring of 2020 with the COVID-19 shutdowns, but as the market began to rebound in late May, Loudoun County clearly benefitted from the desire purchasers had to find larger accommodations in less densely populated areas.

MARKET SHARE BY TYPE

1,421

Loudoun County, along with its suburban neighbor Prince William County, had the hottest market in the metro area in the second half of 2020.

The biggest constraint in Loudoun County in the months ahead will be the lack of inventory. As an example, at the end of January 2021 there were only 33 townhomes on the market in the entire county, and the average days on the market for townhomes going under contract in January was just 8 days. It’s a great time to be a seller in Loudoun – and a pretty challenging time to be a buyer.

1200 1100 1000 900

825

800 700 600 500 400

24 2020 SECOND HALF MARKET REPORT

21

59 2H2020

2H2019

93

201 2H2020

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

2H2019

200

242 2H2020

2H2019

262

396

300

100

ALL PROPERTIES

CONDOMINIUMS

ATTACHED HOMES

DETACHED HOMES

LOUDOUN COUNTY Second Half 2019

Second Half 2020

% Change

Number of Units Sold

1,636

2,188

33.74%

Average Days on Market

44.8

25.8

-42.41%

Average Sold Price

$690,696

$781,908

13.21%

Average Original List Price

$709,854

$786,514

10.80%

97.3%

99.4%

2.16%

Lowest Price Home

$115,000

$195,000

69.57%

Highest Price Home

$3,300,000

$15,595,000

372.58%

Number of Units Sold

1,257

1,551

23.39%

Average Days on Market

24.0

13.0

-45.83%

Average Sold Price

$475,885

$513,682

7.94%

Average Original List Price

$480,112

$511,580

6.55%

99.1%

100.4%

1.31%

Lowest Price Home

$180,500

$200,000

10.80%

Highest Price Home

$2,150,000

$1,195,000

-44.42%

Number of Units Sold

608

830

36.51%

Average Days on Market

24.7

23.5

-4.86%

Average Sold Price

$331,205

$361,478

9.14%

Average Original List Price

$335,134

$363,211

8.38%

98.8%

99.5%

0.71%

Lowest Price Home

$107,700

$150,000

39.28%

Highest Price Home

$765,000

$796,786

4.16%

Number of Units Sold

3,501

4,569

30.51%

Average Days on Market

33.8

21.1

-37.57%

Average Sold Price

$551,140

$614,481

11.49%

Average Original List Price

$562,292

$616,288

9.60%

98.0%

99.7%

1.73%

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

25 2020 SECOND HALF MARKET REPORT

428 N WASHINGTON STREET Alexandria, VA 22314 SOLD | MLS# VAAX249834

26 2020 SECOND HALF MARKET REPORT

27 2020 SECOND HALF MARKET REPORT

Prince William County, Virginia Prince William County (including Manassas City and Manassas Park), along with its suburban neighbor Loudoun County, had the hottest market in the metro area in the second half of 2020.

Prince William was impacted in the spring of 2020 with the COVID-19 shutdowns as much as any jurisdiction in the metro area, but as the market began to rebound in late May, the county clearly benefitted from the desire purchasers had to find larger accommodations in less densely populated areas. While there was no mass migration to the outer suburbs, these areas absolutely outperformed those areas closest to the city center.

MARKET SHARE BY TYPE 2019 Second Half vs. 2020 Second Half Detached Homes

Attached Homes

Condominiums

2H2019

55.54%

40.22%

4.24%

2H2020

55.53%

40.28%

4.19%

MARKET SHARE BY PRICE - PRINCE WILLIAM COUNTY 2019 Second Half vs. 2020 Second Half $0-$299K

$300K-$499K

$500K-$749K

$750K-$999K

$1M-$1.49M

$1.5M+

2600

2,534

2400

2200

2000

2,102

• By the end of the year, overall inventory was down 57% compared to the previous December, and unlike the closer-in jurisdictions, inventory was down for all three property types: • Detached home inventory was down 64% • Attached home inventory was down 61% • Condo inventory was down 42% • The total number of sales was up 29% • Detached home sales were up 29% • Attached homes sales were up 30% • Condo sales were up 27% • The average days on market for homes sold dropped from 33 days in the second half of 2019 to just over two weeks in the second half of 2020.

100%

We have rarely seen such a confluence of factors change the market almost overnight. Record low mortgage interest rates, a big jump in the number of buyers, and a stunning lack of inventory all combined to turn Prince William County into an aggressive sellers’ market. Consider these metrics:

1800

1600

1400

1,488

The biggest constraint in Prince William County in the months ahead will continue to be the lack of inventory. As an example, at the end of January 2021, there were only 60 townhomes on the market in the entire county, and the average days on the market for townhomes going under contract in January was just 8 days. It’s a great time to be a seller in Prince William – and a pretty challenging time to be a buyer.

1200

1000

600

622

768

813

800

28 2020 SECOND HALF MARKET REPORT

175

19

44

2

3

2H2020

2H2019

2H2020

200

2H2019

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

70

400

ALL PROPERTIES

CONDOMINIUMS

ATTACHED HOMES

DETACHED HOMES

PRINCE WILLIAM COUNTY Second Half 2019

Second Half 2020

% Change

Number of Units Sold

2,096

2,702

28.91%

Average Days on Market

39.2

16.2

-58.67%

Average Sold Price

$483,313

$539,039

11.53%

Average Original List Price

$493,630

$536,396

8.66%

97.9%

100.5%

2.66%

Lowest Price Home

$149,877

$140,000

-6.59%

Highest Price Home

$1,524,105

$1,825,000

19.74%

Number of Units Sold

1,518

1,960

29.12%

Average Days on Market

26.5

13.7

-48.30%

Average Sold Price

$329,799

$360,929

9.44%

Average Original List Price

$333,436

$358,586

7.54%

98.9%

100.7%

1.82%

Lowest Price Home

$155,000

$171,000

10.32%

Highest Price Home

$618,750

$880,000

42.22%

Number of Units Sold

160

204

27.50%

Average Days on Market

23.0

19.5

-15.22%

Average Sold Price

$228,389

$264,892

15.98%

Average Original List Price

$232,005

$267,116

15.13%

98.4%

99.2%

0.81%

Lowest Price Home

$90,000

$138,000

53.33%

Highest Price Home

$495,000

$550,000

11.11%

Number of Units Sold

3,774

4,866

28.93%

Average Days on Market

33.4

15.3

-54.19%

Average Sold Price

$410,758

$455,804

10.97%

Average Original List Price

$418,104

$453,486

8.46%

98.2%

100.5%

2.34%

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

29 2020 SECOND HALF MARKET REPORT

3205 MCKINLEY STREET NW Washington, DC 20015 SOLD | MLS# DCDC479044

30 2020 SECOND HALF MARKET REPORT

31 2020 SECOND HALF MARKET REPORT

Fauquier County, Virginia As we have noted in some of our other area commentaries, real estate in the entire greater Washington, DC metro area has fared very well in the rebound that followed a rough spring because of the COVID-related shutdowns. But the inner and outer suburbs have outperformed the more urban areas, and Fauquier County is no exception.

• By the end of the year, overall inventory was down 50% compared to the previous December. (Detached homes represent 90% of all inventory, and condos are almost non-existent.)

• Detached home inventory was down 50% • Attached home inventory was down 50% • The total number of sales was up 30% • Detached home sales were up 34% • Attached homes sales were up 10% • The average days on market for homes sold was down 25%, although it was still the longest average time on the market in the region. In the second half of 2019, the average days on the market was 62, and it dropped to 46 in the second half of 2020.

• The average sales price rose 10%.

2019 Second Half vs. 2020 Second Half Detached Homes

Attached Homes

Condominiums

8.08%

87.72%

2H2019 2H2020

90.23%

6.80%

4.20% 2.97%

100%

Fauquier County was a popular destination for those buyers seeking significantly larger lots and much more elbow room. Although the market was not as overheated as Loudoun and Prince William Counties, every market metric pointed in a positive direction:

MARKET SHARE BY TYPE

MARKET SHARE BY PRICE - FAUQUIER COUNTY 2019 First Half vs. 2020 First Half $0-$299K

$300K-$499K

$500K-$749K

$750K-$999K

$1M-$1.49M

$1.5M+

400 380 360 340

345

Fauquier County is the most rural of the communities we profile, and it saw significant improvement in its real estate market in the second half of 2020.

320 300 280

269

260

249

240 220 200 180

165

160

145

140 120

104

100 80

32 2020 SECOND HALF MARKET REPORT

15

13

2H2020

2H2019

40 20

2H2020

7 2H2019

1H2020

1H2019

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

20

26

70

60

DETACHED HOMES

FAUQUIER COUNTY Second Half 2019

Second Half 2020

% Change

Number of Units Sold

543

730

34.44%

Average Days on Market

65.9

50.5

-23.37%

Average Sold Price

$521,097

$575,312

10.40%

Average Original List Price

$548,772

$590,898

7.68%

95.0%

97.4%

2.53%

Lowest Price Home

$75,000

$112,000

49.33%

Highest Price Home

$5,300,000

$4,265,000

-19.53%

50

55

10.00%

21.9

11.6

-47.03%

Average Sold Price

$271,761

$292,449

7.61%

Average Original List Price

$274,304

$292,486

6.63%

99.1%

100.0%

0.91%

Lowest Price Home

$170,000

$170,000

0.00%

Highest Price Home

$390,000

$400,000

2.56%

26

24

-7.69%

57.1

13.8

-75.83%

Average Sold Price

$232,377

$252,292

8.57%

Average Original List Price

$244,200

$252,748

3.50%

95.2%

99.8%

4.83%

Lowest Price Home

$125,000

$125,000

0.00%

Highest Price Home

$389,000

$405,000

4.11%

Number of Units Sold

619

809

30.69%

Average Days on Market

62.0

46.8

-24.52%

Average Sold Price

$488,830

$546,498

11.80%

Average Original List Price

$513,808

$560,579

9.10%

95.1%

97.5%

2.52%

Average Sold Price vs. List Price

Number of Units Sold

ATTACHED HOMES

Average Days on Market

Average Sold Price vs. List Price

Number of Units Sold

ALL PROPERTIES

CONDOMINIUMS

Average Days on Market

Average Sold Price vs. List Price

Average Sold Price vs. List Price

33 2020 SECOND HALF MARKET REPORT

4415 19TH STREET N Arlington, VA 22207 SOLD | MLS# VAAR165340

34 2020 SECOND HALF MARKET REPORT

35 2020 SECOND HALF MARKET REPORT

Montgomery County, Maryland Montgomery County had a great second half of 2020 after a challenging first half of the year.

There was strength across all property types and all price ranges, but as is the case with many other jurisdictions in the DC metro area, condos did not perform quite as well as attached and detached homes. While the inventory of attached and detached homes was down in a consequential way, condo inventory rose by a fairly modest amount. And almost all of the increase in condo inventory came in the closer-in portions of the County where many of the condos are in high-rise buildings. Throughout the region, condo inventory has risen in “elevator living” communities.

MARKET SHARE BY TYPE 2019 Second Half vs. 2020 Second Half Detached Homes

Attached Homes

Condominiums

2H2019

54.61%

27.06%

18.32%

2H2020

53.37%

27.98%

18.65%

100%

Here are the key market metrics:

MARKET SHARE BY PRICE 2019 Second Half vs. 2020 Second Half $0-$299K

$300K-$499K

$500K-$749K

$750K-$999K

$1M-$1.49M

$1.5M+

2,600

2,455

2600

2400

2200

2,088

2000

1800

1,590

1600

1400

1,449

1,350

• At the end of the year, overall inventory was down 37% compared to the previous December.

• Detached home inventory was down 57% • Attached home inventory was down 47% • Condo inventory was up 11% • The total number of sales was up 19% • Detached home sales were up 17% • Attached homes sales were up 23% • Condo sales were up 21% • The average days on the market for homes sold was down 32%, from an average of 47 days in the second half of 2019 to just 29 days in the second half of 2020.

• The average days on market for detached homes was down 38% • The average days on market for attached homes was down 36% • The average days on market for condos was down 11% • The greater demand, combined with the big drop in inventory for detached and attached homes, was reflected in the average sales price — and the increase in condo inventory had an impact as well.

• The average sales price of detached homes rose 12% • The average sales price of attached homes rose 5% • However, the average sales price of condos dropped 5%

1200

1000

800

902

This will continue to be a great time for sellers in Montgomery County (except for condos) and a challenging time for purchasers who have relatively few choices of homes on the market.

538

622

600

36 2020 SECOND HALF MARKET REPORT

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

213

338

406

400

200

ALL PROPERTIES

CONDOMINIUMS

ATTACHED HOMES

DETACHED HOMES

MONTGOMERY COUNTY Second Half 2019

Second Half 2020

% Change

Number of Units Sold

3,624

4,224

16.56%

Average Days on Market

47.1

29.4

-37.58%

Average Sold Price

$715,542

$803,530

12.30%

Average Original List Price

$741,181

$808,850

9.13%

96.5%

99.3%

2.90%

Lowest Price Home

$140,000

$195,000

39.29%

Highest Price Home

$6,900,000

$15,000,000

117.39%

Number of Units Sold

1,796

2,215

23.33%

Average Days on Market

34.2

22.1

-35.38%

Average Sold Price

$402,940

$423,486

5.10%

Average Original List Price

$409,924

$423,283

3.26%

98.3%

100.0%

1.73%

Lowest Price Home

$68,500

$132,500

93.43%

Highest Price Home

$1,842,875

$1,700,000

-7.75%

Number of Units Sold

1,216

1,476

21.38%

Average Days on Market

42.9

38.2

-10.96%

Average Sold Price

$322,418

$306,043

-5.08%

Average Original List Price

$333,611

$315,155

-5.53%

96.6%

97.1%

0.52%

Lowest Price Home

$55,000

$58,050

5.55%

Highest Price Home

$3,715,000

$3,180,000

-14.40%

Number of Units Sold

6,636

7,915

19.27%

Average Days on Market

42.8

29.0

-32.24%

Average Sold Price

$558,901

$604,403

8.14%

Average Original List Price

$576,844

$608,885

5.55%

96.9%

99.3%

2.48%

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

37 2020 SECOND HALF MARKET REPORT

2400 TUNLAW ROAD NW Washington, DC 20007 SOLD | MLS# DCDC491492

38 2020 SECOND HALF MARKET REPORT

39 2020 SECOND HALF MARKET REPORT

Prince George’s County, Maryland Detached Homes

Attached Homes

Condominiums

65.55%

2H2019

64.21%

2H2020

27.33%

7.12%

28.25%

7.54%

MARKET SHARE BY PRICE 2019 First Half vs. 2020 First Half $0-$299K

$300K-$499K

$500K-$749K

$750K-$999K

$1M-$1.49M

$1.5M+

3600

3,489

3400 3200 3000

2,807

2800 2600 2400

2,489

• At the end of year, overall inventory was down 55% compared to the previous December. That’s comparable to the major drop in inventory in Virginia’s outer suburbs.

• Detached home inventory was down 60% • Attached home inventory was down 59% • Condo inventory was down 23% • The total number of sales was up 10% • Detached home sales were up 8% • Attached homes sales were up 14% • Condo sales were up 17% • The average days on the market for homes sold was down 37%, from an average of 38 days in the second half of 2019 to just 24 days in the second half of 2020.

• The average days on market for detached homes was down 44% • The average days on market for attached homes was down 20% • The average days on market for condos was up just 2% • The greater demand, combined with the big drop in inventory, was reflected in the average sales price. Overall the price rose 12% • The average sales price of detached homes rose 12% • The average sales price of attached homes rose 11% • The average sales price of condos rose 17% • And perhaps most remarkable, homes sold for an average of 100.3% of their original list price; that is the best in the Metro area.

2019 Second Half vs. 2020 Second Half

100%

The County did not escape the extreme difficulties in the first half of the year when COVID-19 shut down much of the economy but saw acrossthe-board improvement in every sector of the market in the second half.

Prince George’s continues to have the most affordable housing stock in the region, and historically low mortgage interest rates helped open the door to many first-time home buyers who were attracted to those relatively affordable homes. Yet that strong market also meant that inventory dropped in a consequential way, resulting in an exceptionally strong seller’s market.

Here’s a recap of the most important metrics:

MARKET SHARE BY TYPE

2200 2000 1800

1,959

Prince George’s County’s real estate market performed better than almost any other metro area jurisdiction in the second half of 2020.

1600 1400 1200 1000

This will continue to be a great time for sellers in Montgomery County (except for condos) and a challenging time for purchasers who have relatively few choices for homes on the market.

875

800 600

490

400

40 2020 SECOND HALF MARKET REPORT

6

8

2H2019

2H2020

1

75 2H2020

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

2H2020

2H2019

0

23 2H2019

200

ALL PROPERTIES

CONDOMINIUMS

ATTACHED HOMES

DETACHED HOMES

PRINCE GEORGE’S COUNTY Second Half 2019

Second Half 2020

% Change

Number of Units Sold

3,812

4,114

7.92%

Average Days on Market

42.7

23.8

-44.26%

Average Sold Price

$364,692

$409,183

12.20%

Average Original List Price

$372,463

$406,961

9.26%

97.9%

100.5%

2.66%

Lowest Price Home

$76,000

$60,000

-21.05%

Highest Price Home

$1,400,000

$1,330,000

-5.00%

Number of Units Sold

1,589

1,810

13.91%

Average Days on Market

30.5

24.3

-20.33%

Average Sold Price

$289,585

$321,426

11.00%

Average Original List Price

$293,018

$320,780

9.47%

98.8%

100.2%

1.42%

Lowest Price Home

$55,000

$65,000

18.18%

Highest Price Home

$772,900

$870,000

12.56%

Number of Units Sold

414

483

16.67%

Average Days on Market

29.5

30.1

2.03%

Average Sold Price

$151,118

$176,771

16.98%

Average Original List Price

$154,998

$181,436

17.06%

97.5%

97.4%

-0.10%

Lowest Price Home

$38,000

$50,000

31.58%

Highest Price Home

$650,000

$1,500,000

130.77%

Number of Units Sold

5,815

6,407

10.18%

Average Days on Market

38.5

24.5

-36.36%

Average Sold Price

$328,963

$366,871

11.52%

Average Original List Price

$335,271

$365,613

9.05%

98.1%

100.3%

2.24%

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

Average Sold Price vs. List Price

41 2020 SECOND HALF MARKET REPORT

M c E N E A R N E Y A S S O C I AT E S

L U X U RY LISTINGS SHOWCASE

2205 WINDSOR ROAD Alexandria, VA 22307 $2,750,000 | MLS# VAFX1180050

42 2020 SECOND HALF MARKET REPORT

43 2020 SECOND HALF MARKET REPORT

1834 CONNECTICUT AVE NW $3,995,000 Washington, DC 20009 10 Bedrooms | 4 Full + 3 Half Baths Exclusively Represented by Gerry Gretschel, 202.494.7918 BrightMLS# DCDC466178

208 S SAINT ASAPH ST $3,750,000 Alexandria, VA 22314 5 Bedrooms | 3 Full + 1 Half Baths Exclusively Represented by Babs Beckwith, 703.627.5421 BrightMLS# VAAX252896

4805 ROCK SPRING RD $3,450,000 Arlington, VA 22207 5 Bedrooms | 6 Full + 2 Half Baths Exclusively Represented by Lisa Joy, 703.408.3450 BrightMLS# VAAR175622

44 2020 SECOND HALF MARKET REPORT

3a N RIDGEVIEW RD $3,400,000 Arlington, VA 22207 5 Bedrooms | 6 Full + 1 Half Baths Exclusively Represented by Lisa Joy, 703.408.3450 BrightMLS# VAAR168476

4a N RIDGEVIEW RD $3,200,000 Arlington, VA 22207 5 Bedrooms | 6 Full + 1 Half Baths Exclusively Represented by Lisa Joy, 703.408.3450 BrightMLS# VAAR168366

410 PRINCE ST $2,997,000 Alexandria, VA 22314 4 Bedrooms | 3 Full + 1 Half Baths Exclusively Represented by Vici Boguess, 703.447.2829 BrightMLS# VAAX253662

45 2020 SECOND HALF MARKET REPORT

2205 WINDSOR RD $2,750,000 Alexandria, VA 22307 8 Bedrooms | 8 Full + 2 Half Baths Exclusively Represented by Mary Ellen Rotondo, 703.472.5454 BrightMLS# VAFX1180050

1011 N WASHINGTON ST $2,750,000 Alexandria, VA 22314 5 Bedrooms | 4 Full + 1 Half Baths Exclusively Represented by Kate Patterson, 703.627.2166 BrightMLS# VAAX255096

38780 CHELTEN LN $2,425,000 Middleburg, VA 20117 4 Bedrooms | 4 Full + 4 Half Baths Exclusively Represented by Bradley Clarke, 703.220.5707 BrightMLS# VALO385602

46 2020 SECOND HALF MARKET REPORT

221 N ROYAL ST $2,100,000 Alexandria, VA 22314 4 Bedrooms | 3 Full + 1 Half Baths Exclusively Represented by Ann Duff, 703.965.8700 BrightMLS# VAAX249276

2101 BELLE HAVEN RD $2,000,000 Alexandria, VA 22307 5 Bedrooms | 5 Full + 1 Half Baths Exclusively Represented by Janet Price, 703.622.5984 BrightMLS# VAFX1176398

4848 28TH ST N $1,999,000 Arlington, VA 22207 5 Bedrooms | 4 Full + 1 Half Baths Exclusively Represented by Chamberlin Brothers, 703.738.4449 BrightMLS# VAAR166028

47 2020 SECOND HALF MARKET REPORT

1718 N MONROE ST $1,949,999 Arlington, VA 22207 5 Bedrooms | 4 Full + 1 Half Baths Exclusively Represented by Chamberlin Brothers, 703.738.4449 BrightMLS# VAAR166210

9 WILKES ST $1,896,000 Alexandria, VA 22314 3 Bedrooms | 3 Full + 2 Half Baths Exclusively Represented by Lauren Bishop, 202.447.6138 BrightMLS# VAAX252124

3823 N RANDOLPH CT $1,875,000 Arlington, VA 22207 4 Bedrooms | 3 Full + 2 Half Baths Exclusively Represented by Ann Nichols, 703.624.9122 BrightMLS# VAAR175508

48 2020 SECOND HALF MARKET REPORT

106 N QUAKER LN $1,799,999 Alexandria, VA 22304 5 Bedrooms | 4 Full + 1 Half Baths Exclusively Represented by Kristen Jones, 703.851.2556 BrightMLS# VAAX253872

4704 ALTON PL NW $1,795,000 Washington, DC 20016 5 Bedrooms | 4 Full + 1 Half Baths Exclusively Represented by Joan Caton Cromwell, 202.441.8912 BrightMLS# DCDC507372

611 QUEEN ST $1,795,000 Alexandria, VA 22314 4 Bedrooms | 3 Full + 1 Half Baths Exclusively Represented by Babs Beckwith, 703.627.5421 BrightMLS# VAAX250468

49 2020 SECOND HALF MARKET REPORT

1721 N TAYLOR ST $1,749,000 Arlington, VA 22207 5 Bedrooms | 4 Full + 1 Half Bath Exclusively Represented by Janet Price, 703.622.5984 BrightMLS# VAAR174560

201 QUAKER LN $1,695,000 Alexandria, VA 22304 3 Bedrooms | 3 Full Baths Exclusively Represented by Gordon Woods & Chris Hayes, 703.447.6138 BrightMLS# VAAX241762

5214 11TH ST N $1,675,000 Arlington, VA 22205 5 Bedrooms | 4 Full + 1 Half Baths Exclusively Represented by Betsy Twigg, 703.967.4391 BrightMLS# VAAR173952

50 2020 SECOND HALF MARKET REPORT

314 E DEL RAY AVE $1,400,000 Alexandria, VA 22301 4 Bedrooms | 3 Full Baths Exclusively Represented by Jen Walker, 703.675.1566 BrightMLS# VAAX256020

210 JEFFERSON ST $1,249,000 Alexandria, VA 22314 5 Bedrooms | 3 Full + 1 Half Baths Exclusively Represented by Lauren Bishop, 202.361.5079 BrightMLS# VVAAX251318

708 DUKE ST $1,225,000 Alexandria, VA 22314 3 Bedrooms | 2 Full + 1 Half Baths Exclusively Represented by Lauren Bishop, 202.361.5079 BrightMLS# VAAX255266

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4349 4TH ST N $1,125,000 Arlington, VA 22203 4 Bedrooms | 4 Full + 1 Half Baths Exclusively Represented by Barbara Simon & Robin Cale, 703.598.4662 BrightMLS# VAAR174242

1110 PRINCE ST $1,095,000 Alexandria, VA 22314 4 Bedrooms | 2 Full + Baths Exclusively Represented by Paul Anderson, 703.408.0676 BrightMLS# VAAX255660

1411 KEY BLVD #311 $1,065,000 Arlington, VA 22209 2 Bedrooms | 2 Full Baths Exclusively Represented by Anne Martone, 571.213.3991 BrightMLS# VAAR169596

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M c E N E A R N E Y A S S O C I AT E S

Leadership Management Team

MAUREEN McENEARNEY DUNN

DAVID HOWELL

President mdunn@mcenearney.com tel. 703.790.9090

Chief Information Officer EVP & Principal Broker, DC & MD dhowell@mcenearney.com tel. 202.552.5610

DAVE HAWKINS

CANDICE BOWER

Chief Operating Officer EVP & Principal Broker, VA Managing Broker, Alexandria dhawkins@mcenearney.com tel. 703.286.1285

Executive Vice President Managing Broker, Leesburg & Middleburg cbower@mcenearney.com tel. 703.738.8260

MICHAEL DAY

ANDY HILL

Executive Vice President Managing Broker, Alexandria mday@mcenearney.com tel. 703.549.9292

Executive Vice President Managing Broker, DC & MD ahill@mcenearney.com tel. 202.552.5619

GLENN LEWIS

JON WOLFORD

Executive Vice President Managing Broker, Arlington glewis@mcenearney.com tel. 703.717.6311

Executive Vice President Managing Broker, McLean jwolford@mcenearney.com tel. 703.738.9516

JEANNE CHOI

DENIZ ARTEMEL

Vice President & Chief Marketing Officer jchoi@mcenearney.com tel. 703.738.9568

Vice President, Professional Development dartemel@mcenearney.com tel. 202.552.5629

TRUDY MCCULLOUGH

MIKE MCENEARNEY

Vice President, Director, Relocation tmccullough@mcenearney.com tel. 703.537.3342

Executive Vice President, Director, Property Management mmcenearney@mcenearney.com tel.703.537.3330

54

2020 SECOND HALF MARKET REPORT

Hello Clarendon, We Have Arrived.

McEnearney Associates is excited to announce our second Arlington office location in the heart of Clarendon, Virginia. To learn more about the McEnearney Difference, visit us online at McEnearney.com

McEnearney Associates 3303 Wilson Blvd, Arlington, VA 22201 I Tel. 703.525.1900 I McEnearney.com 55 North Arlington I Clarendon I McLean I Vienna I Alexandria I Spring Valley I 14th Street I Kensington I Leesburg I Middleburg 2020 SECOND HALF MARKET REPORT

14TH STREET 1803 14th Street, NW Washington, D.C. 20009 Tel. 202.903.2200 Tel. 866.792.8975

ALEXANDRIA 109 S Pitt Street Alexandria, VA 22314 Tel. 703.549.9292 Tel. 800.549.9299

NORTH ARLINGTON 4720 Lee Highway Arlington, VA 22207 Tel. 703.525.1900 Tel. 800.826.1612

CLARENDON 3033 Wilson Boulevard Arlington, VA 22201 Tel. 703.525.1900 Tel. 800.826.1612

KENSINGTON 3804 Howard Avenue Kensington, MD 20895 Tel. 301.979.7270 Tel. 866.762.8975

LEESBURG 107 N King Street Leesburg, VA 20176 Tel. 703.738.8282 Tel. 800.548.9080

MCLEAN 1320 Old Chain Bridge Road McLean, VA 22101 Tel. 703.790.9090 Tel. 800.548.9080

MIDDLEBURG 7 W Washington Street Middleburg, VA 20118 Tel. 540.687.5490 Tel. 800.548.9080

SPRING VALLEY 4910 Massachusetts Avenue, NW Washington, DC 20016 Tel. 202.552.5600 Tel. 866.762.8975

VIENNA 374 Maple Avenue, E #202 Vienna, VA 22180 Tel. 703.839.8200 Tel. 800.548.9080

www.McEnearney.com

56 Copyright 2021 - McEnearney Associates, Inc. REALTORS. Source: Bright™ MLS. Data deemed reliable, but not guaranteed. Equal Housing Opportunity.

2020 SECOND HALF MARKET REPORT