Q2_2018

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 . S E C O N D Q U A R T E R , 2 0 1 8

Market Update Despite a somewhat slower start this Spring, the Washington real estate market continues to be very active. Jobs and traffic continue to play a key role in the market dynamics across the Washington Metropolitan region.

According to the Center for Regional Economic Analysis in May, the region benefited from continued strong job growth, adding 41,300 new jobs over the past year. Northern Virginia led this growth, adding 24,800 new jobs, however Suburban Maryland ran a close second adding over 14,000 new jobs. The entire region is benefiting from a remarkably low unemployment rate of 3.1%, well below the current U.S. rate of 3.9%.

This same report indicates that 17.8% of Washington area workers commute 60+ minutes every day, rivaling the San Francisco Bay Area and ranking second only to New York. This continues to weigh heavily on the minds of potential buyers as they consider options across various submarkets. To that point, areas in and around the Beltway or close to growing job centers continue to outperform other submarkets.

Washington, DC continues to be a strong market. Sales increased 1.8% in the second quarter versus last year, and median sold price increased 3.6%. Homes continue to sell fast, an average of 35 days which identical to the same period last year. Northern Virginia maintains a brisk pace with sales volume and median prices increasing in the major jurisdictions of Fairfax County, Arlington, and Alexandria. The City of Alexandria leads the pack so far this year with sold dollar volume increasing 7.8% and median sold price increasing 5.9%.

Montgomery County has benefited from the strong jobs market noted above with sold dollar volume decreasing slightly but median sale prices increasing 5.4%. Velocity is also gaining momentum with average days on market decreasing to 43 days, 10.4% faster than the same period last year.

Our Annapolis brokerage reports that the late Spring somewhat delayed the market, and sold volume decreased slightly 5.4% year to date. Median sold prices, however, increased 2.1%. Buyers continue to be drawn to the beautiful waterfront and walkable lifestyles that the Annapolis area offers.

On the opposite side of the region, we continue to build a strong presence in the Virginia Equestrian Country. This Fall, we are delighted to be major sponsors once again of both the National Sporting Library’s Annual Polo Classic on September 9th (nationalsporting.org) and the Middleburg Film Festival which will be held October 18th-21st (middleburgfilm.org).

Regardless of location, we look forward to assisting you as your global real estate advisors. From Middleburg to Munich, we are ideally positioned to be of service to you and your family with an unwavering commitment to integrity and professional service which has defined the Sotheby’s brand worldwide for over 250 years.

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

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

P G 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: 8714 Holtzclaw Road, Warrenton VA | $5,500,000 Cover: 3127 51st Place NW, Washington DC | $3,850,000

WAS H I N GTO N , D C

5264 Loughboro Road NW Kent | $1,799,000

4927 30th Place NW Forest Hills | $1,695,000

1414 29th Street NW Georgetown | $2,145,000

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 SECOND QTR. 2017

SECOND QTR. 2018

%

29 $1,044,755 12

32 $1,153,800 13

+10% +10% +8%

9 $1,520,500 22

12 $1,385,167 10

+33% -9% -54%

41 $2,263,805 47

49 $2,093,218 28

+19% -7% -40%

31 $1,182,561 34

34 $1,139,392 16

+10% -4% -53%

67 $1,136,093 11

63 $1,232,847 17

-6% +8% +54%

16 $1,807,906 12

9 $1,753,611 17

-44% -3% +42

7 $1,485,843 27

8 $1,712,250 17

+14% +15% -37%

19 $1,185,704 11

27 $1,210,056 19

+42% +2% +73%

21 $1,197,988 7

20 $1,068,960 36

-5% -11% +414%

14 $2,370,714 73

13 $1,850,550 21

-7% -22% -71%

8 $2,871,875 60

15 $2,735,333 77

+87% -5% +28%

8 $1,441,886 14

12 $1,537,833 17

+50% +7% +21%

13 $1,850,192 31

6 $1,594,675 10

-54% -14% -68%

3 $3,720,000 107

2 $3,837,500 98

-33% +3% -8%

15 $1,628,900 57

18 $1,900,824 16

+20% +17% -72%

15 $1,298,800 14

11 $1,496,000 29

-27% +15% +107%

12 $1,026,033 13

9 $1,040,389 12

-25% +1% -8%

25 $1,149,527 16

27 $1,129,793 27

+8% -2% +69%

145 D Street SE

Capitol Hill | $1,195,000

1531 6th Street NW Shaw | $995,000

6404 31st Place NW Chevy Chase, DC | $1,675,000

NORTHERN VIRGINIA

Units Sold

Arlington

Avg. Sold Price Avg. Days on Market

Units Sold

McLean

Avg. Sold Price Avg. Days on Market

Units Sold

8736 Plymouth Road

Falls Church

Alexandria, VA | $1,570,000

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

3140 Key Blvd

Arlington, VA | $2,150,000

Units Sold

The Plains

Avg. Sold Price Avg. Days on Market

Units Sold

Middleburg

Avg. Sold Price Avg. Days on Market

Units Sold

Delaplane

Avg. Sold Price Avg. Days on Market

Units Sold

Marshall

Avg. Sold Price Avg. Days on Market

Units Sold

Purcellville 720 Potomac Knolls Drive McLean, VA | $2,495,000

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 SECOND QTR. 2017

SECOND QTR. 2018

%

496

404

-19%

$948,919

$962,059

+2%

24

23

-4%

204

203

-.5%

$1,377,120

$1,610,958

+17%

62

41

-34%

338

311

-8%

$729,613

$741,609

+2%

20

20

-

433

436

+1%

$779,329

$799,409

+3%

20

20

-

71

69

-3%

$1,176,235

$1,194,145

+1%

72

62

-14%

+10%

298

269

$888,144

$911,281

+3%

38

30

-21%

9075 John S Mosby Hwy Upperville, VA | $1,250,000

S I N G L E FA M I LY H O M E S A L E S SECOND QTR. 2017

SECOND QTR. 2018

%

13

6

-54%

$975,685

$1,274,042

+31%

348

144

-59%

14

17

+21%

$931,114

$698,882

-25%

111

108

-3%

4

3

-25%

$676,000

$970,000

+43%

140

51

-64%

-26%

35

26

$649,758

$411,381

-37%

45

26

-42%

105

111

-6%

$527,966

$563,570

+7%

46

42

-9%

903 Falls Manors Court Great Falls, VA | $1,450,000

1857 Potomac Greens Drive Alexandria, VA | $975,000

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

6810 Barrett Lane Bethesda, MD | $3,595,000

Potomac

Avg. Sold Price Avg. Days on Market

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

3302 Kenney Court Edgewater, MD | $1,600,000

Units Sold

Annapolis Severna Park Edgewater Davidsonville Crownsville 127 Quincy Street

Chevy Chase, MD | $2,440,000

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

S I N G L E FA M I LY H O M E S A L E S SECOND QTR. 2017

SECOND QTR. 2018

%

301

327

+9%

$1,126,982

$1,140,548

+1%

35

35

-

+10%

72

79

$1,405,519

$1,450,871

+3%

36

26

-28%

+2%

196

201

$1,045,623

$1,026,002

-2%

45

34

+24%

206 Mckendree Avenue Annapolis, MD | $449,000

S I N G L E FA M I LY H O M E S A L E S SECOND QTR. 2017

SECOND QTR. 2018

%

127

96

-24%

$401,579

$417,080

+4%

92

97

+5%

27

16

-41%

$616,033

$550,581

-11%

120

111

-7%

S I N G L E FA M I LY H O M E S A L E S SECOND QTR. 2017

SECOND QTR. 2018

%

418

394

-6%

$542,946

$524,777

-3%

56

47

-16% +9%

128

139

$638,954

$578,461

-9%

46

41

-11% -14%

131

112

$485,778

$505,893

+4%

44

48

+9% +4%

27

28

$690,132

$707,854

+3%

110

81

-27% -22%

51

40

$532,720

$543,037

+2%

48

52

+8%

5201 Wissioming Road Bethesda, MD | $1,995,000

7205 Arrowood Road Bethesda, MD | $7,500,000

WAS H I N GTO N , D C

|

CONDO & CO-OP SALES

SECOND QTR. 2017 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

Bell Tower at Stanton Park

Capitol Hill | Units starting at $2,400,000

Units Sold Avg. Sold Price Avg. Days on Market

SECOND QTR. 2018

% +60%

15

24

$425,354

$402,785

-5%

33

9

-73% +86%

28

52

$594,639

$589,171

-1%

34

28

-18% +18%

22

26

$985,000

$744,458

-24%

40

55

+37%

97

131

+35%

$455,721

$589,998

+29%

18

24

+33%

31

28

-10%

$357,687

$392,243

+10%

40

19

-52% -14%

49

42

$663,327

$623,243

-6%

18

21

+17%

116

114

-2%

$698,361

$673,043

-4%

15

24

+60%

29

19

-34%

$406,274

$471,211

+16%

59

34

-42% -25%

59

44

$505,526

$543,551

+7%

23

17

-26% -46%

26

14

$791,388

$822,839

+4%

23

20

-13%

1224 11th St NW #4 Logan/Shaw | $1,195,000

2410 Potomac Ave #102

311 Monroe Ave #1

Del Ray Alexandria | $869,000

Alexandria | $785,000

NORTHERN VIRGINIA

|

CONDO & CO-OP SALES

Units Sold

Arlington McLean Alexandria

Avg. Sold Price

SECOND QTR. 2017

SECOND QTR. 2018

%

486

534

+10%

$417,300

$432,460

+3%

Avg. Days on Market

27

24

-11%

Units Sold

101

83

+18%

$379,666

$412,063

+8%

Avg. Days on Market

Avg. Sold Price

58

19

-67%

Units Sold

413

399

-3%

$344,307

$339,798

-1%

28

28

-

SECOND QTR. 2018

% +56%

Avg. Sold Price Avg. Days on Market

MONTGOMERY COUNTY

|

CONDO & CO-OP SALES

SECOND QTR. 2017 Units Sold

Bethesda

Avg. Sold Price Avg.Days on Market

Units Sold

Chevy Chase

Avg. Sold Price Avg. Days on Market

59

92

$593,808

$404,708

-32%

28

40

+43%

+105%

20

41

$517,550

$670,132

+29%

27

55

+103%

SOURCE: MRIS, 4/1/2017-7/1/2017;4/1/2018-7/1/2018. 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 IS A PROUD SPONSOR OF THE

8th Annual Polo Classic B E N E F I T I N G T H E N AT I O N A L S P O R T I N G LIBRARY & MUSEUM Sunday, September 9 | Great Meadow - The Plains, Virginia Tickets at nationalsporting.org

8th Annual Polo Classic

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. Each Office Is Independently Owned And Operated. SIR1

NSLM’S MISSION IN MOTION a benefit for the

PLEASE RECYCLE