2017 Year End Market Report

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

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 I S P R O U D T O B E N A M E D O N E O F T H E

Most Philanthropic Companies in the Region B Y T H E WA S H I N G T O N B U S I N E S S J O U R N A L F O R T H E F I F T H C O N S E C U T I V E Y E A R !

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