TTRSIR Third Quarter 2016 Market Report

THIRD QUARTER 2016

MARKET REPORT DC | MD | VA

A Comprehensive Analysis of the Residential Real Estate Market in the Washington Metropolitan Area

1800 HOLLY BEACH FARM ROAD, ANNAPOLIS MD | $14,500,000

1601 5TH STREET NW D, WASHINGTON DC | $1,575,000

THI R D QUA RT E R 2016

MARKET REPORT D C | MD | VA

W

ith the presidential election right around the corner, Washington is bracing for what promises to be a historic season. In all but one of the past four Presidential Election years, sales volume in the fourth quarter increased significantly. Neither approval ratings nor unity between Congress and the White

House correlates to real estate market trends. In fact, much like the stock market, real estate has historically performed better in times of a divided government versus a unified government. In all cases, the upper tier of the real estate market, the luxury sector, has outperformed all other sectors over any 10-year period in the past 100 years.

As you will note in the data that follows, third quarter results across the region are relatively strong. Sold dollar volume across the Washington region increased 7.7% versus the same period last year. Similarly, median sold price increased 6.9%. In both Northern Virginia and Montgomery County, homes sold more quickly with average days on the market decreasing in both areas. Close-in locations inside the Capital Beltway continue to perform well, and submarkets with access to good transportation infrastructure and job centers are also outperforming other areas.

As we move into the final quarter of 2016, we want to thank the countless community organizations who have inspired us this year. Once again, the Washington Business Journal named TTR Sotheby’s International Realty among the most philanthropic small businesses in Washington. This is important work, and our partners, staff and associates will continue to be highly engaged in the communities in which we live and work.

More information on building our community as well as extraordinary real estate from Bethesda to Beijing can be found on our website, ttrsir.com. On behalf of our partners, Jonathan Taylor, Michael Rankin, David DeSantis, and Derrick Swaak, please accept our thanks for the opportunity to be of service.

Best personal regards, Mark C. Lowham CEO and Managing Partner TTR Sotheby’s International Realty

WA S H I N GT O N, D C T H I R D Q UA R T E R 2 0 1 6 | S I N G L E FA M I LY H O M E SA L E S

3036 Macomb Street NW, Washington DC | Listed for $4,495,000

3105 Chesapeake St NW, Washington DC Listed for $2,600,000

AMERICAN UNIVERSITY UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET GEORGETOWN UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET CHEVY CHASE UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET

3125 Chain Bridge Rd NW, Washington DC Listed for $3,999,000

CLEVELAND PARK

Q3 2015

Q3 2016

%

26

18

-31%

1,108,404

1,224,614

10%

AVG SOLD PRICE

29

12

-59%

AVG DAYS ON MARKET

Q3 2015

Q3 2016

%

40

36

-10%

UNITS SOLD

1,963,872

1,707,806

-13%

AVG SOLD PRICE

41

52

27%

AVG DAYS ON MARKET

Q3 2015

Q3 2016

%

UNITS SOLD

CAPITOL HILL

DUPONT

60

48

-20%

996,693

1,072,177

8%

AVG SOLD PRICE

UNITS SOLD

18

21

17%

AVG DAYS ON MARKET

Q3 2015

Q3 2016

%

16

8

-50%

2,498,656

2,200,250

-12%

42

26

-38%

Q3 2015

Q3 2016

%

32

29

-9%

1,030,806

1,120,226

9%

22

38

73%

Q3 2015

Q3 2016

%

11

12

9%

1,831,610

1,565,083

-15%

17

66

288%

Source: MRIS, 7/1/2015-9/30/2015; 7/1/2016-9/30/2016 | Data deemed reliable, but not guaranteed.

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2241 Bancroft Pl NW, Washington DC Listed for $6,250,000

1726 Hoban Rd NW, Washington DC Listed for $4,625,000

4520 Dexter St NW, Washington DC Listed for $2,195,000

1821 Vermont Avenue NW, Washington DC | Listed for $1,595,000

FOREST HILLS UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET MOUNT PLEASANT UNITS SOLD

Q3 2015

Q3 2016

%

4

8

100%

UNITS SOLD

2,646,215

1,662,625

-37%

AVG SOLD PRICE

61

26

-57%

AVG DAYS ON MARKET

Q3 2015

Q3 2016

%

GLOVER PARK/BURLEITH

SPRING VALLEY

14

27

93%

1,054,121

1,073,215

2%

AVG SOLD PRICE

9

11

22%

AVG DAYS ON MARKET

KALORAMA

Q3 2015

Q3 2016

%

UNITS SOLD

5

8

60%

UNITS SOLD

2,513,400

2,981,750

19%

AVG SOLD PRICE

8

43

438%

Q3 2015

Q3 2016

%

AVG SOLD PRICE AVG DAYS ON MARKET

AVG SOLD PRICE AVG DAYS ON MARKET LOGAN UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET

UNITS SOLD

WESLEY HEIGHTS

AVG DAYS ON MARKET MASS. AVE HEIGHTS

11

11

0%

UNITS SOLD

1,111,018

1,271,127

14%

AVG SOLD PRICE

65

16

-75%

AVG DAYS ON MARKET

Q3 2015

Q3 2016

%

27

26

-4%

1,118,592

1,066,077

-5%

14

21

50%

Q3 2015

Q3 2016

%

8

9

13%

1,764,962

1,710,444

-3%

31

96

210%

Q3 2015

Q3 2016

%

6

10

67%

1,469,417

2,347,250

60%

47

50

6%

Q3 2015

Q3 2016

%

1

1

0%

3,000,000

6,500,000

117%

68

717

954%

Source: MRIS, 7/1/2015-9/30/2015; 7/1/2016-9/30/2016 | Data deemed reliable, but not guaranteed.

THIRD QUARTER 2016

TTRSIR MARKET REPORT

5

VI RG I N I A T H I R D Q UA R T E R 2 0 1 6 | S I N G L E FA M I LY H O M E SA L E S ARLINGTON

Q3 2015

Q3 2016

%

UNITS SOLD

416

341

-18%

848,212

903,902

7%

28

23

-18%

Q3 2015

Q3 2016

%

286

281

-2%

683,794

717,885

5%

AVG SOLD PRICE

30

34

13%

AVG DAYS ON MARKET

Q3 2015

Q3 2016

%

58

74

28%

UNITS SOLD

1,260,736

1,084,370

-14%

AVG SOLD PRICE

75

102

36%

AVG DAYS ON MARKET

AVG SOLD PRICE AVG DAYS ON MARKET FALLS CHURCH UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET GREAT FALLS UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET

McLEAN

Q3 2015

Q3 2016

%

141

149

6%

1,356,276

1,210,045

-11%

54

58

7%

ALEXANDRIA

Q3 2015

Q3 2016

%

UNITS SOLD

358

323

-10%

731,104

741,711

1%

30

31

3%

Q3 2015

Q3 2016

%

294

256

-13%

803,201

849,211

6%

28

42

50%

UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET

VIENNA

Source: MRIS, 7/1/2015-9/30/2015; 7/1/2016-9/30/2016 | Data deemed reliable, but not guaranteed.

6828 Sorrel St, McLean VA | Listed for $3,499,000

316 Gordon Rd, Kinsale VA | Listed for $995,000

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473 Millwood Rd, Boyce VA | Listed for $2,290,000

M A RY L A N D T H I R D Q UA R T E R 2 0 1 6 | S I N G L E FA M I LY H O M E SA L E S

8560 Horseshoe Ln, Potomac MD | Listed for $2,749,000

9900 Newhall Rd, Potomac MD | Listed for $3,499,000

1800 Holly Beach Farm Rd, Annapolis MD | Listed for $14,500,000

BETHESDA

Q3 2015

Q3 2016

%

UNITS SOLD

251

230

-8%

1,112,845

1,143,584

3%

35

44

26%

Q3 2015

Q3 2016

%

160

162

1%

1,056,925

1,038,748

-2%

46

60

30%

Q3 2015

Q3 2016

%

86

70

-19%

1,380,124

1,283,045

-7%

46

36

-22%

AVG SOLD PRICE AVG DAYS ON MARKET POTOMAC UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET CHEVY CHASE UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET 6309 Bradley Blvd, Bethesda MD | Listed for $2,275,000

THIRD QUARTER 2016

Source: MRIS, 7/1/2015-9/30/2015; 7/1/2016-9/30/2016 | Data deemed reliable, but not guaranteed.

TTRSIR MARKET REPORT

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SOTHEBY’S SOTHEBY’S MAGAZINE FEATURE

This autumn, Zaha Hadid’s Lilas in Bloom is rising in Beyond Limits, a Sotheby’s selling exhibition of monumental outdoor sculpture at Chatsworth House in Derbyshire. Planned well before Hadid’s untimely death last March, its presence comes as a tribute to the architect’s mastery. For more: ttrsir.us/lilasbloom

SOTHEBY’S INTERNATIONAL REALTY

Sotheby’s International Realty announced a new international partnership with Juwai.com, China’s premier real estate portal that receives over 2 million unique monthly visitors. This ensures greater visibility to Chinese consumers searching for homes worldwide.

SOTHEBY’S AUCTION

On 11 November, Sotheby’s will be hosting a sale during the International Photography Fair, Paris Photo, an unmissable event for dealers, collectors, curators, artists, and art aficionados.

TTRSIR NEWS

We are thrilled to announce the official move of our Downtown, DC office, now located at 1515 14th Street NW. We’ve found our new home; let us find yours!

And coming late fall 2016: 2300 Clarendon Blvd in Arlington, Virginia.

TTRSIR AND THE COMMUNITY

Join us for Fair Chance’s 2016 Butterfly Bash, the annual event that raises funds and honors local leaders who are committed to helping children in Washington, DC. The Butterfly Bash allows Fair Chance to provide support for nonprofits working to break the cycle of poverty for children.

8

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S I G N I F I CA N T CO N T RACTS + SA L ES F RO M THE THIRD QUARTER 2016 T T R S O T H E B Y ’ S I N T E R N AT I O N A L R E A LT Y

1. 1111 19TH ST N #2903, ARLINGTON VA

2. 3001 44TH PL NW, WASHINGTON DC

3. 3327 DENT PL NW, WASHINGTON DC

4. 9407 LUDGATE DR, ALEXANDRIA VA

5. 1824 23RD ST NW, WASHINGTON DC

6. 43 W LENOX ST, CHEVY CHASE MD

1. 1111 19h Street N #2903, Arlington VA I Listed for $2,178,000 (Under Contract; TTRSIR represented seller) 2. 3001 44th Pl NW, Washington DC I Listed for $3,995,000 (TTRSIR represented seller and buyer) 3. 3327 Dent Pl NW, Washington DC I Listed for $4,000,000 (TTRSIR represented seller and buyer) 4. 9407 Ludgate Dr, Alexandria VA I Listed for $2,495,000 (TTRSIR represented seller and buyer) 5. 1824 23rd Street NW, Washington DC I Listed for $3,650,000 (Under contract; TTRSIR represented seller and buyer) 6. 43 W Lenox St, Chevy Chase MD I Listed for $2,975,000 (TTRSIR represented seller)

WA S H I N GT O N, D C T H I R D Q UA R T E R 2 0 1 6 | C O N D O & C O - O P SA L E S CAPITOL HILL

Q3 2015

Q3 2016

%

KALORAMA

Q3 2015

Q3 2016

%

8

12

50%

UNITS SOLD

55

39

-29%

387,750

376,158

-3%

AVG SOLD PRICE

632,965

615,302

-3%

20

21

5%

AVG DAYS ON MARKET

25

24

-4%

DOWNTOWN

Q3 2015

Q3 2016

%

LOGAN

Q3 2015

Q3 2016

%

UNITS SOLD

46

51

11%

63

80

27%

570,877

610,719

7%

425,260

607,113

43%

28

36

29%

19

23

21%

Q3 2015

Q3 2016

%

Q3 2015

Q3 2016

%

141

79

-44%

UNITS SOLD

53

43

-19%

630,207

494,609

-22%

AVG SOLD PRICE

456,758

451,391

-1%

26

23

-12%

AVG DAYS ON MARKET

26

20

-23%

Q3 2015

Q3 2016

%

Q3 2015

Q3 2016

%

22

24

9%

19

19

0%

325,473

352,188

8%

AVG SOLD PRICE

595,654

417,005

-30%

23

42

83%

AVG DAYS ON MARKET

45

60

33%

Q3 2015

Q3 2016

%

Q3 2015

Q3 2016

%

27

13

-52%

UNITS SOLD

7

12

71%

725,593

594,338

-18%

AVG SOLD PRICE

517,857

827,250

60%

30

50

67%

AVG DAYS ON MARKET

18

14

-22%

UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET

AVG SOLD PRICE AVG DAYS ON MARKET DUPONT UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET FOGGY BOTTOM/ WEST END UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET GEORGETOWN UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET

UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET MOUNT PLEASANT

WESLEY HEIGHTS/ CATHEDRAL UNITS SOLD

SHAW

Source: MRIS, 7/1/2015-9/30/2015; 7/1/2016-9/30/2016 | Data deemed reliable, but not guaranteed.

1601 5th Street NW D, Washington DC Listed for $1,575,000

925 H Street NW #301, Washington DC Listed for $999,900

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1390 V Street NW #416, Washington DC Listed for $519,000

1837 Wyoming Ave #D NW, Washington DC | Starting at $1,499,000

VI RG I N I A T H I R D Q UA RT E R 2 0 1 6 | C O N D O & C O - O P SA L E S ARLINGTON

Q3 2015

Q3 2016

%

McLEAN

UNITS SOLD

419

439

5%

UNITS SOLD

426,606

438,132

3%

AVG SOLD PRICE

40

40

0%

AVG DAYS ON MARKET

AVG SOLD PRICE AVG DAYS ON MARKET

Q3 2015

Q3 2016

%

58

69

19%

422,800

396,234

-6%

59

55

-7%

Q3 2015

Q3 2016

%

40

42

5%

752,498

646,789

-14%

38

47

24%

Source: MRIS, 7/1/2015-9/30/2015; 7/1/2016-9/30/2016 | Data deemed reliable, but not guaranteed.

1600 Clarendon Blvd W306, Arlington VA Listed for $1,599,000

M A RY L A N D T H I R D Q UA RT E R 2 0 1 6 | C O N D O & C O - O P SA L E S BETHESDA

Q3 2015

Q3 2016

%

UNITS SOLD

85

98

15%

371,946

451,055

21%

AVG SOLD PRICE

41

48

17%

AVG DAYS ON MARKET

AVG SOLD PRICE AVG DAYS ON MARKET

CHEVY CHASE UNITS SOLD

Source: MRIS, 7/1/2015-9/30/2015; 7/1/2016-9/30/2016 | Data deemed reliable, but not guaranteed.

5610 Wisconsin Ave #PH-19D, Chevy Chase MD Listed for $2,995,000

THIRD QUARTER 2016

TTRSIR MARKET REPORT

11

G L O B A L S P OT L I G H T P RO P E RTY V I CTO R I A , B R I T I S H C O LU M B I A CA N A DA | P R O P E RT Y I D : 4 6 TS S S

TTR Sot h e by ’s I n te r n at i o n al Rea l ty i s pa rt of a g l o ba l rea l esta te ne two rk of ove r 8 35 of f i ces i n 63 co u n t r i es. Whe t he r yo u a re b uy i ng i n S haw, se l l i ng i n New De l hi , o r curi ou s ab ou t any p oi n t i n b e twe e n, we l o o k fo r wa rd to t he o p p o rt uni ty to b e of se r v i ce.

T T RS I R .CO M

IN THE COMMUNITY

FAIR CHANCE BUTTERFLY BASH FRIDAY, OCTOBER 21, 2016

VOLTA PARK DAY SUNDAY, OCTOBER 30TH, 2016

Join us for Fair Chance’s 2016 Butterfly Bash, the annual event that raises funds and honors local leaders who are committed to helping children in Washington, DC. The Butterfly Bash allows Fair Chance to provide support for nonprofits working to break the cycle of poverty for children.

Support Friends of Volta Park, a community-based non-profit organization whose mission is to work with the neighborhood and the DC Department of Parks and Recreation to maintain, improve and beautify Volta Park’s grounds and gardens.

fairchancedc.org/events/2016_bash

voltapark.org

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. ©2016 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