2017 Year End Market Report A C O M P R E H E N S I V E A N A LY S I S O F T H E R E S I D E N T I A L R E A L E S TAT E M A R K E T I N T H E W A S H I N G T O N M E T R O P O L I TA N A R E A .
Despite uncertainty which permeated national politics and ongoing geopolitical conflicts, the Mid-Atlantic Region witnessed a further resurgence in real estate in 2017. TTR Sotheby’s International Realty achieved its best year on record with over $3.02 billion in sales, making it the largest brokerage firm in the region with 30 or less offices. Homes sold faster and prices increased across the region, but this was particularly evident in close-in locations such as Washington, DC. In the District of Columbia, sold volume increased almost 14% and average days on the market decreased over 5%. Prices moved upwards with average sold prices increasing over 4%. In Northern Virginia, a strong jobs market continued to produce effectively full employment through 2017. This strong regional economy influenced the housing market - sold volume increased over 7% and average sold prices increased over 4%. Listings in Northern Virginia sold over 17% faster than 2016. Loudoun County reflected similar changes in volume and average sold prices, but momentum is clearly evident with average days on market declining significantly - almost 22%. Montgomery County continued to show strength with sold dollar volume increasing over 3%. Average sold price increased over 3% and average days on market decreased almost 15%. This same momentum was reflected in nearby Anne Arundel County where volume increased over 6%, average sold prices increased over 4%, and average days on market declined by 13%. Our region continues to serve as a global and cultural crossroads, making it more important than ever to provide global reach to our clients. With Sotheby’s International Realty offices in virtually every major city in the word and a digital presence that receives over 22 million unique visitors annually, translates into 20 languages and converts 49 different currencies, TTR Sotheby’s International Realty is uniquely positioned to bring the world to Washington - and to deliver our clients’ real estate to the world. We look forward to being of service in 2018 - wherever your real estate requirements take you. Best personal regards, Mark C. Lowham CEO and Managing Partner
Contents S I N G L E FA M I LY H O M E S A L E S
CONDO & CO-OP SALES
PG 2-3
PG 8-9
WAS H I N GTO N , D C
NORTHERN VIRGINIA
MONTGOMERY COUNTY
PG 4-5
WAS H I N GTO N , D C
NORTHERN VIRGINIA
LOUDOUN COUNTY
FA U Q U I E R C O U N T Y
P G 6 -7
MONTGOMERY COUNTY
ANNE ARUNDEL COUNTY
TA L B O T C O U N T Y
Above: 1450 T Street NW, Logan Circle | Washington DC Cover: 4920 Indian Lane NW, Spring Valley | Washington DC
WAS H I N GTO N , D C
2343 Ashmead Place NW Kalorama | $1,995,000
603 Kenyon Street NW Columbia Heights | $998,000
2845 Mcgill Terrace NW
Massachusetts Avenue Heights | $4,995,000
American University
Units Sold Avg. Sold Price Avg. Days on Market
Cleveland Park
Units Sold Avg. Sold Price Avg. Days on Market
Georgetown
Units Sold Avg. Sold Price Avg. Days on Market
Capitol Hill
Units Sold Avg. Sold Price Avg. Days on Market
Chevy Chase, DC
Units Sold Avg. Sold Price Avg. Days on Market
Dupont
Units Sold Avg. Sold Price Avg. Days on Market
Forest Hills
Units Sold Avg. Sold Price Avg. Days on Market
Glover Park / Burleith
Units Sold Avg. Sold Price Avg. Days on Market
Mount Pleasant
Units Sold Avg. Sold Price Avg. Days on Market
Spring Valley
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
Wesley Heights
Units Sold Avg. Sold Price Avg. Days on Market
Mass Ave Heights
Units Sold Avg. Sold Price Avg. Days on Market
Kent
Units Sold Avg. Sold Price Avg. Days on Market
Palisades
Units Sold Avg. Sold Price Avg. Days on Market
Shaw
Units Sold Avg. Sold Price Avg. Days on Market
Bloomingdale/ LeDroit Park
Units Sold Avg. Sold Price Avg. Days on Market
S I N G L E FA M I LY H O M E S A L E S 2016
2017
%
67 $1,097,598 14
104 $1,038,781 16
+55% -5% +14%
44 $1,881,343 21
38 $1,636,388 21
-14% -13% -
146 $1,679,177 43
238 $1,314,604 44
+63% -22% +2%
108 $1,091,758 26
115 $1,251,662 35
+6% +15% +35%
185 $1,091,147 22
186 $1,116,586 17
+.5% +2% -23%
32 $1,624,922 42
51 $1,651,062 26
-59% +2% +38%
30 $1,951,793 34
26 $1,488,360 55
-13% -24% +62%
40 $917,625 17
63 $1,152,081 10
+57% +25% -41%
77 $1,052,336 16
69 $1,125,854 13
-10% +7% -19%
35 $1,795,971 59
52 $1,941,086 59
+49% +8% -
31 $3,179,952 42
28 $2,543,625 50
-10% -20% +19%
50 $1,326,823 12
53 $1,480,274 14
+4% +12% +17%
26 $1,859,260 44
27 $1,812,426 32
+4% -2% -27%
4 $3,672,500 202
12 $5,029,500 75
+200% +37% -63%
44 $1,833,250 46
44 $1,886,097 43
+3% -6%
34 $1,212,693 23
45 $1,340,750 31
+32% +11% +35%
19 $952,514 20
40 $999,557 19
+110% +5% -5%
84 $928,215 23
92 $1,033,468 17
+9% +11% -26%
2855 University Terrace NW University Terrace | $2,499,000
3540 Van Ness Street NW North Cleveland Park | $1,895,000
2820 Bellevue Terrace NW Cathedral Heights | $2,299,000
NORTHERN VIRGINIA
Units Sold
Arlington
Avg. Sold Price Avg. Days on Market
Units Sold
McLean
Avg. Sold Price Avg. Days on Market
Units Sold
6211 Randall Court
Falls Church
Alexandria, VA | $1,499,900
Avg. Sold Price Avg. Days on Market
Units Sold
Alexandria
Avg. Sold Price Avg. Days on Market
Units Sold
Great Falls
Avg. Sold Price Avg. Days on Market
Units Sold
Vienna
Avg. Sold Price Avg. Days on Market
L O U D O U N & FA U Q U I E R C O U N T I E S
7849 Westmont Lane
Units Sold
McLean, VA | $2,799,900
The Plains
Avg. Sold Price Avg. Days on Market
Units Sold
Middleburg
Avg. Sold Price Avg. Days on Market
Units Sold
Marshall
Avg. Sold Price Avg. Days on Market
Units Sold
Purcellville Upperville 9081 Eaton Park Road Great Falls, VA | $2,999,000
Avg. Sold Price Avg. Days on Market
Units Sold Avg. Sold Price Avg. Days on Market
S I N G L E FA M I LY H O M E S A L E S 2016
2017
%
1,354
1,461
+8%
$885,097
$927,922
+5%
31
30
-3%
593
648
+9%
$1,303,912
$1,430,046
+10%
60
60
-
985
1,155
+17%
$693,512
$679,958
+2%
34
30
-12%
3,431
3,515
+2%
$602,347
$623,780
+4%
35
30
+14%
243
247
+2%
$1,187,927
$1,227,854
+3%
101
84
-17%
844
846
<1%
$840,722
$894,869
+6%
44
40
-9%
212 Quaker Lane N Alexandria, VA | $1,650,000
S I N G L E FA M I LY H O M E S A L E S 2016
2017
%
18
27
+50%
$508,928
$712,425
+40%
95
222
+134%
67
55
-18%
$720,957
$835,581
+16%
139
151
+9%
84
88
+5%
$573,576
$563,842
+2%
112
64
-43%
325
350
+8%
$524,150
$528,329
+1%
56
48
-14%
10
11
+10%
$1,149,796
$1,715,409
+49%
178
242
+36%
4757 Williamsburg Blvd Arlington, VA | $1,550,000
9092 John Mosby Highway Upperville, VA | $9,800,000
MONTGOMERY COUNTY
Units Sold
Bethesda
Avg. Sold Price Avg. Days on Market
Units Sold
Chevy Chase
Avg. Sold Price Avg. Days on Market
Units Sold
Potomac
Avg. Sold Price Avg. Days on Market
8610 Country Club Drive Bethesda, MD | $3,795,000
TA L B O T C O U N T Y
Units Sold
Easton
Avg. Sold Price Avg. Days on Market
Units Sold
Saint Michaels
Avg. Sold Price Avg. Days on Market
ANNE ARUNDEL COUNTY
3625 Chevy Chase Lake Drive Chevy Chase, MD | $1,599,000
Units Sold
Annapolis Severna Park Edgewater Davidsonville Crownsville
Avg. Sold Price Avg. Days on Market Units Sold Avg. Sold Price Avg. Days on Market Units Sold Avg. Sold Price Avg. Days on Market Units Sold Avg. Sold Price Avg. Days on Market Units Sold Avg. Sold Price Avg. Days on Market
Gibson Island 8850 Dawson Road
Saint Michaels, MD | $4,995,000
Units Sold Avg. Sold Price Avg. Days on Market
S I N G L E FA M I LY H O M E S A L E S 2016
2017
%
877
890
+1%
$1,130,742
$1,141,218
+1%
43
42
-2%
264
250
-5%
$1,254,981
$1,334,501
+6%
45
43
-4%
560
540
-4%
$1,017,262
$1,058,646
+4%
58
51
-12%
1745 Banbury Road
Gibson Island, MD | $995,000
S I N G L E FA M I LY H O M E S A L E S 2016
2017
%
355
430
+21%
$372,679
$421,434
+13%
119
83
-30%
71
87
+23%
$555,193
$631,232
+14%
110
119
+8%
S I N G L E FA M I LY H O M E S A L E S 2016
2017
%
1252
1328
+6%
$515,668
$536,028
+4%
63
62
-2%
443
395
-11%
$523,724
$599,472
+14%
62
52
-16% +.5%
397
399
$441,503
$476,218
+8%
66
54
-18%
93
80
-14%
$622,195
$697,383
+12%
91
87
-4% +19%
126
150
$539,264
$503,781
-7%
78
62
-20%
13
4
-70%
$1,537,231
$1,793,750
+17%
97
215
+122%
636 Stillwater Road
Gibson Island, MD | $2,995,000
1800 Holly Beach Farm Road Annapolis, MD | $10,000,000
WAS H I N GTO N , D C
|
CONDO & CO-OP SALES
2016 Units Sold
Capitol Hill Downtown
Avg. Sold Price Avg. Days on Market Units Sold Avg. Sold Price Avg. Days on Market
Georgetown
Units Sold Avg. Sold Price Avg. Days on Market
Dupont
Units Sold Avg. Sold Price Avg. Days on Market
Foggy Bottom / West End Kalorama
Units Sold Avg. Sold Price Avg. Days on Market Units Sold Avg. Sold Price Avg. Days on Market
Logan
Units Sold Avg. Sold Price Avg. Days on Market
Wesley Heights / Cathedral Mount Pleasant
Units Sold Avg. Sold Price Avg. Days on Market Units Sold Avg. Sold Price Avg. Days on Market
Shaw
1535 P Street NW #3 Loganl | $999,500
Units Sold Avg. Sold Price Avg. Days on Market
2017
%
46
42
-9%
$389,433
$414,577
+6%
32
28
-12% +13%
141
159
$581,190
$576,197
-1%
53
33
-38% +22%
74
90
$772,140
$950,614
23%
50
59
+18% -42%
327
188
$580,443
$496,370
-14%
28
23
-18%
145
190
+31%
$649,763
$746,640
+15%
49
42
-14%
158
184
16%
$582,156
$607,477
+4%
28
21
+25%
285
153
-46%
$639,479
$872,851
+36%
20
18
-10%
68
93
+37%
$466,774
$409,801
-12%
62
64
+3%
162
197
+22%
$485,795
$515,456
+6%
20
20
+64%
33
54
$787,369
$775,160
-2%
19
24
26%
2501 Pennsylvania Ave NW #2a West End | $2,250,000
1111 19th Street N #2605
2258 Garfield Street S Arlington | $495,000
Arlington | $889,500
NORTHERN VIRGINIA
|
CONDO & CO-OP SALES
Units Sold
Arlington
Avg. Sold Price Avg. Days on Market
Units Sold
McLean Alexandria
Avg. Sold Price Avg. Days on Market
Units Sold Avg. Sold Price Avg. Days on Market
MONTGOMERY COUNTY
|
2016
2017
%
1,581
1,664
+5%
$425,633
$421,765
-1%
41
35
-15%
250
317
+27%
$398,530
$385,131
-3%
62
54
-13%
1,872
2,026
+8%
$301,773
$315,192
+4%
42
34
-19%
2017
% +15%
CONDO & CO-OP SALES
2016 Units Sold
Bethesda
Avg. Sold Price Avg.Days on Market
Units Sold
Chevy Chase
Avg. Sold Price Avg. Days on Market
341
392
$487,587
$523,608
+7%
50
52
+4%
+19%
143
170
$644,418
$645,910
<1%
44
59
+34%
SOURCE: MRIS, 1/1/2016-12/31/30/2016; 1/1/2017-12/31/2017. DATA DEEMED RELIABLE, BUT NOT GUARANTEED.
Georgetown Brokerage 1206 30th Street NW Washington, DC 20007 Downtown Brokerage 1515 14th Street NW Washington, DC 20005
1506 14th Street NW Washington, DC 20005 ttrsir.com
McLean Brokerage 6723 Whittier Avenue McLean, VA 22101 Alexandria Brokerage 400 S Washington Street Alexandria, VA 22314 Arlington Brokerage 2300 Clarendon Blvd Arlington, VA 22201 Chevy Chase Brokerage 5454 Wisconsin Avenue Chevy Chase, MD 20815 Annapolis Brokerage 209 Main Street Annapolis, MD 21401
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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. ©2018 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