Market Report: First Quarter 2017

FIRST QUARTER 2017

MARKET REPORT A Co m p r e h e ns ive A na l ysi s of the Re si d e n ti al Re al Estate M ar ke t in th e Washi n g ton M e tr opol i tan Ar e a

9325 BELLE TERRE WAY, POTOMAC MARYLAND | $4,250,000

FIRST QUARTER 2017

MARKET REPORT With the new administration in place, Washingtonians have returned to business, and our current real estate market reflects definitive momentum heading into the Spring. The Center for Regional Analysis at GMU reports that median sales prices, sales, and pending sales hit the highest level in March in over a decade in the Washington region. In the first quarter of 2017, sold dollar volume across the Mid-Atlantic increased 17.8% versus 2016. Median sales prices followed suit, increasing 6.3% and average days on market decreased 14.8%.

Close-in locations inside the Capital Beltway continue to perform particularly well, and submarkets with access to good transportation infrastructure and job centers are also outperforming other areas. Sales in the District of Columbia increased 33.6%, median sales price increased 3.4%, and average days on the market declined 8.7%. Of particular note, sales in Logan Circle more than doubled with a 115.1% increase in sold dollar volume, and median sales prices increased 2.3%.

Similarly, Georgetown experienced a 54.9% increase in sales with median sales prices increasing 7.6%.

In Montgomery County, sales increased 21.1% and median sales prices increased 6.7%. In Fairfax County, Great Falls showed renewed strength in the first quarter with sales increasing 74.6% and median sales prices increasing 2.5%. In Alexandria, sales increased 10.5%, and properties sold more quickly with average days on the market decreasing 19.4% to 54 days.

As we move into the second quarter of 2017, we want to thank the countless organizations that continue to make a difference in our community and with which we are honored to partner. In particular, we hope you will join us on May 6th for the annual Life With Cancer Lobster Extravaganza (lifewithcancer.org) providing support to those affected by cancer, the Halcyon Awards Gala (halcyonhouse.org) on May 20th celebrating social entrepreneurs, and the Hillwood Gala (hillwood. org) on June 6th which kicks off the exhibition of Marjorie Merriweather Post’s spectacular collection of jewels.

More information on building our community as well as extraordinary real estate from Annapolis to Australia 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 G TO N , D C F IR S T QUA R T E R 2 017 | SI N G LE FA M I LY HOM E SA LE S

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

CLEVELAND PARK

Q1 2016

Q1 2017

%

7

8

14%

UNITS SOLD

$1,118,143

$1,136,625

2%

AVG SOLD PRICE

16

8

-50%

Q1 2016

Q1 2017

%

AVG DAYS ON MARKET CAPITOL HILL

27

30

11%

UNITS SOLD

$1,495,704

$1,962,467

31%

AVG SOLD PRICE

47

60

28%

AVG DAYS ON MARKET

Q1 2016

Q1 2017

%

35

37

6%

$1,038,658

$1,077,327

4%

28

14

-50%

DUPONT UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET

Q1 2016

Q1 2017

%

6

7

16%

$1,611,072

$1,968,571

22%

39

26

-33%

Q1 2016

Q1 2017

%

12

28

133%

$970,458

$1,312,362

35%

45

42

-7%

Q1 2016

Q1 2017

%

10

10

0%

$1,640,150

$1,909,150

16%

20

43

115%

2121 Dunmore Ln NW, Washington DC | $5,750,000

33.6%

5208 MacArthur Terr NW, Washington DC | $2,600,000

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

Q1 2016

Q1 2017

%

4

6

50%

$2,072,500

$1,605,075

-22%

AVG SOLD PRICE

54

65

20%

AVG DAYS ON MARKET

Q1 2016

Q1 2017

%

10

13

30%

UNITS SOLD

$1,026,500

$1,028,192

0%

AVG SOLD PRICE

29

18

-38%

Q1 2016

Q1 2017

%

GLOVER PARK/BURLEITH

UNITS SOLD

SPRING VALLEY

AVG DAYS ON MARKET WESLEY HEIGHTS

5

7

40%

UNITS SOLD

$1,878,000

$3,036,714

62%

AVG SOLD PRICE

37

61

65%

AVG DAYS ON MARKET

Q1 2016

Q1 2017

%

11

14

27%

UNITS SOLD

$1,318,409

$1,524,857

16%

AVG SOLD PRICE

10

37

270%

MASS. AVE HEIGHTS

AVG DAYS ON MARKET

i n c rea se i n Sold Do l l a r Vo l u m e in Wa s h i n g to n , D C Q1 20 17 vs. Q 1 20 16

Q1 2016

Q1 2017

%

23

11

-52%

$1,136,309

$1,159,777

2%

33

8

-76%

Q1 2016

Q1 2017

%

4

10

150%

$2,008,750

$2,069,600

3%

34

93

173%

Q1 2016

Q1 2017

%

3

4

33%

$2,096,250

$1,646,250

-21%

50

18

-64%

Q1 2016

Q1 2017

%

1

5

400%

$5,800,000

$5,721,800

-1%

68

100

47%

Source: MRIS, 1/1/2016-3/31/2016; 1/1/2017-3/31/2017 | Total Sold Dollar Volume source: RBI, 4/2017. Data deemed reliable, but not guaranteed.

VIRGINIA F IR S T QUA R T E R 2 017 | SI N G LE FA M I LY HOM E SA LE S

ARLINGTON UNITS SOLD 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

Q1 2016

Q1 2017

McLEAN

%

240

259

8%

UNITS SOLD

$816,965

$917,793

12%

AVG SOLD PRICE

49

40

-18%

AVG DAYS ON MARKET

Q1 2016

Q1 2017

%

142

189

$630,539

Q1 2016

Q1 2017

%

103

120

16%

$1,411,275

$1,242,214

-12%

90

66

-27%

ALEXANDRIA

Q1 2016

Q1 2017

%

33%

UNITS SOLD

220

228

4%

$660,875

5%

AVG SOLD PRICE

$748,556

$749,016

0%

43

35

19%

AVG DAYS ON MARKET

45

36

-20%

Q1 2016

Q1 2017

%

Q1 2016

Q1 2017

%

34

52

53%

UNITS SOLD

136

161

18%

$1,146,263

$1,323,878

15%

AVG SOLD PRICE

$799,757

$879,092

10%

110

128

16%

AVG DAYS ON MARKET

46

49

6%

VIENNA

74.6%

12220 Deer Crest Ct, Fairfax VA $1,199,990

7629 Burford Dr, McLean VA | $2,450,000

i n c rea se i n So l d Dolla r Vo l u me i n G rea t Fa lls, Fa i r fa x County Q 1 20 17 vs. Q1 20 16

905 Dewolfe Dr, Alexandria VA | $1,399,000

Source: MRIS, 1/1/2016-3/31/2016; 1/1/2017-3/31/2017 | Total Sold Dollar Volume source: RBI, 4/2017. Data deemed reliable, but not guaranteed.

MARYLAND F I R S T QUA R T ER 2 017 | SI N G LE FA M I LY HOM E SA LE S

21.1%

i n c rea se i n So l d Dolla r Vo l u me i n M o n tgom e r y Co u n ty. Q 1 20 17 vs. Q1 20 16

5517 Pembroke Road, Bethesda MD | $18,000,000

9325 Belle Terre Way, Potomac MD | $4,250,000

BETHESDA

Q1 2016

Q1 2017

%

UNITS SOLD

142

171

20%

$1,123,719

$1,182,825

5%

61

46

-24%

Q1 2016

Q1 2017

%

82

93

13%

$957,082

$1,008,544

5%

72

57

-20%

Q1 2016

Q1 2017

%

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

39

46

18%

$1,271,477

$1,328,389

4%

63

60

-5%

9121 Burdette Rd, Bethesda MD | $5,995,000

Source: MRIS, 1/1/2016-3/31/2016; 1/1/2017-3/31/2017 | Total Sold Dollar Volume source: RBI, 4/2017. Data deemed reliable, but not guaranteed.

WA S H I N G TO N , D C F I R S T QUA R T E R 2 017 | CON DO & CO-OP SA LE S

CAPITOL HILL UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET DOWNTOWN UNITS SOLD 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

Q1 2016

Q1 2017

%

KALORAMA

Q1 2016

Q1 2017

%

8

8

0%

UNITS SOLD

33

34

3%

$339,600

$349,450

3%

AVG SOLD PRICE

$598,855

$568,082

-5%

66

20

-70%

33

29

-12%

Q1 2016

Q1 2017

%

Q1 2016

Q1 2017

%

AVG DAYS ON MARKET LOGAN

20

30

50%

UNITS SOLD

$623,760

$527,869

-15%

AVG SOLD PRICE

87

37

-57%

AVG DAYS ON MARKET

Q1 2016

Q1 2017

%

76

99

30%

UNITS SOLD

$498,078

$589,226

18%

AVG SOLD PRICE

36

30

-17%

AVG DAYS ON MARKET

Q1 2016

Q1 2017

%

MOUNT PLEASANT

WESLEY HEIGHTS/ CATHEDRAL

14

20

43%

UNITS SOLD

$455,000

$342,645

-25%

AVG SOLD PRICE

60

55

-8%

AVG DAYS ON MARKET

Q1 2016

Q1 2017

%

14

20

43%

$1,006,482

$1,197,550

19%

44

90

104%

SHAW UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET

32

86

169%

$561,831

$639,271

14%

29

31

7%

Q1 2016

Q1 2017

%

33

39

18%

$466,280

$522,815

12%

23

17

-26%

Q1 2016

Q1 2017

%

8

16

100%

$553,688

$495,297

-10%

75

73

-3%

Q1 2016

Q1 2017

%

5

11

120%

$679,936

$784,382

15%

16

37

131%

4740 Connecticut Ave NW #409, Washington DC | $599,000

2425 L St NW #700, Washington DC | $5,400,000

772 Girard St NW #8E, Washington DC | $1,700,000

Source: MRIS, 1/1/2016-3/31/2016; 1/1/2017-3/31/2017 | Total Sold Dollar Volume source: RBI, 4/2017. Data deemed reliable, but not guaranteed.

VIRGINIA F I R S T QUA R T E R 2 017 | CON DO & CO-OP SA LE S

ARLINGTON

Q1 2016

Q1 2017

%

UNITS SOLD

256

328

28%

UNITS SOLD

$429,035

$411,189

-4%

AVG SOLD PRICE

49

49

0%

AVG DAYS ON MARKET

AVG SOLD PRICE AVG DAYS ON MARKET

McLEAN

Q1 2016

Q1 2017

%

52

69

30%

$431,366

$395,670

-8%

68

68

0%

Q1 2017

%

1881 Nash Street N TS01, Arlington VA | $6,999,999

MARYLAND F I R S T QUA R T E R 2 017 | CON DO & CO-OP SA LE S

BETHESDA UNITS SOLD AVG SOLD PRICE AVG DAYS ON MARKET

Q1 2016

Q1 2017

%

CHEVY CHASE

53

85

60%

UNITS SOLD

$453,841

$569,133

25%

AVG SOLD PRICE

67

78

16%

AVG DAYS ON MARKET

5600 Wisconsin Ave, #1103-1104, Chevy Chase MD | $3,495,000

Source: MRIS, 1/1/2016-3/31/2016; 1/1/2017-3/31/2017. Data deemed reliable, but not guaranteed.

Q1 2016 26

38

46%

$723,710

$696,225

-4%

47

78

66%

OU R O FFICES GEORGETOWN BROKERAGE 1206 30th Street NW Washington, DC 20007

The Marketing Suite 1506 14th Street NW Washington, DC 20005 ttrsir.com | +1 202 234 3344

DOWNTOWN BROKERAGE 1515 14th Street NW Washington, DC 20005 McLEAN BROKERAGE 6723 Whittier Avenue McLean, VA 22101 ALEXANDRIA BROKERAGE 400 S Washington Street Alexandria, VA 22314 ARLINGTON BROKERAGE 2300 Clarendon Blvd Arlington, VA CHEVY CHASE BROKERAGE 5454 Wisconsin Avenue Chevy Chase, MD ANNAPOLIS BROKERAGE 209 Main Street Annapolis, MD

GLOBAL SPOTLIGHT PROPERTY T E R R E S A Z U R E , SA I N T M A RT I N Lo cate d i n t he m ost excl us i ve resi d e n t i a l a rea i n Fre n c h Sa i n t M a r t i n , t h i s e l e ga n t v i l l a af fo rds 4 be dro o m s, 4. 5 bath ro o m s, a se pa ra te ca re ta ke r ’s co t ta ge, a n d swe e p i n g vi ews to t he C ar i bbean. Pr i ce d we l l b e l ow t h e ow n e r ’s cost a t $ 3,95 0,0 0 0.

Co ntact Les l ey Re e d | l es l ey@ st m a r t i n so t h e bysrea l ty.co m | 0 1 1- 590 - 690 -3 0 5 3 5 4 (c)

UPCOMING EVENTS Halcyon Awards Gala May 20, 2017

Capitol Hill 60th Annual House & Garden Tour May 13–14, 2017

TTR Sotheby’s International Realty is a proud Innovation Supporter of the 2017 Halcyon Awards Gala - which recognizes and honors talented arts icons, entrepreneurs & visionaries. halcyonhouse.org

The Capitol Hill Restoration Society’s Annual House & Garden Tour is one of the Grand Dames of the Capitol Hill social calendar.

Capitol Hill residents will open their best homes and gardens to satisfy the curiosity of their neighbors. chrs.org/house-and-garden-tour

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. ©2017 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