2019 McEnearney Associates DC-MD-VA First Half Market Report by McEnearney Associates

MCENEARNEY ASSOCIATES 2 0 1 9 FIRST HALF MARKET R EPORT DC | MD | VA

FRONT COVER VAAX234090 | 209 S Saint Asaph Street, Alexandria, VA 22314

table of

Contents 2019 First Half Notables

Vienna Office

Q & A with Maureen McEnearney Dunn & David Howell

Alexandria, Virginia Review

Summary Report of City of Alexandria, 9 Summary Report of Alexandria (Fairfax County), 23

Arlington County & Falls Church City, Virginia Review

Summary Report of Arlington County & Falls Church City, 35

Fairfax County, Virginia Review

Summary Report of Fairfax County, 47

Loudoun, Fauquier & Prince William Counties Review

Summary Report of Loudoun County, 65 Summary Report of Fauquier County, 71 Summary Report of Prince William County, 75

Suburban Maryland Review

Summary Report of Montgomery County, 85 Summary Report of Prince Georgeâ&#x20AC;&#x2122;s County, 95

Washington, DC Review

105

Summary Report of Washington, DC, 107

Luxury Listings Showcase

119

McEnearney Associates Leadership Management

127

Market Report Glossary

128 MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

mcenearney associates , inc . realtors ÂŽ

2019 First Half Notables

100,000+ Transactions Since 1980

$453M

2019 First Half Total List Side Sales Volume

2019 First Half Total Sell Side Sales Volume

673

657

Closed List Side Transactions

Closed Sell Side Transactions

Average Days on Market

875

364

Total Inventory

McEnearney Associates

Support Staff Members

9 Office Locations

34.9

McEnearney Associates Opens Its Ninth Office in Vienna!

Established in 1980, McEnearney Associates REALTORS® is proud to announce the opening of their newest office in Vienna, Virginia. The event was celebrated with a ribbon cutting with Vienna Mayor Laurie A. DiRocco, council members, and community leaders on Tuesday evening, April 30. Centrally positioned at 374 Maple Avenue East, the McEnearney Associates REALTORS® Vienna location will be the 9th with other offices throughout the Washington metro region. McEnearney Associates has been conducting business in Vienna for 35 years. The firm has grown tremendously throughout the years with key Associates living in Vienna, Oakton, and Tysons. “We felt that we wanted a stronger presence in the Town of Vienna to increase our client support and community outreach,” says Jon Wolford, Executive Vice President & Managing Broker of McLean/Vienna McEnearney Associates. “Many of our Associates are involved in the Vienna community whether through events, schools, or nonprofit organizations.” McEnearney is thrilled to continue to provide best-in-class service to their clients in Vienna and beyond. To learn more about how you can join our team, visit www.joinmcenearney.com.

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Q&A with Maureen McEnearney Dunn & David Howell What’s the biggest story in the Washington, DC metro area real estate market?

Maureen It has to be inventory. The area has seen a continuing contraction in the number of homes on the market for several years, but in some areas I would say there is an acute shortage. And the reason is the other big story: Amazon’s HQ2. David We’ve never seen anything quite like this before. Washington, DC inventory is actually a little higher than last year, and in the Maryland suburbs it’s down by a few percentage points. But in those areas closest to the new Amazon headquarters – Arlington and Alexandria – there are only half as many homes on the market as we usually see. Half.

Maureen Even though Amazon hasn’t really started hiring in any significant numbers yet, just the anticipation of their coming to town has changed behavior. Would-be sellers in those areas closest to the newly christened National Landing, home of HQ2, have hit the pause button and buyers have very few choices right now. As a result, sales activity is actually down a bit since Amazon’s announcement. That’s the short term.

How much impact will Amazon have on the market?

David Long term, the market will see a huge benefit. And it certainly won’t be limited to the 25,000+ jobs that Amazon has promised over the next decade – Virginia Tech, the University of Maryland, and other major academic institutions are planning campuses close to Amazon, and Crystal City will be transformed into a very livable, walkable community. Communities close to any Metro line, on both sides of the Potomac, will become even more attractive.

McEnearney Associates is in its 40th year. What has changed since you opened in 1980? And is there anything true today that was true then?

David Many days it seems as though everything has changed. In 1980 mortgage interest rates were in the high teens, personal computers didn’t exist, the Internet wasn’t even a thought yet and most buyers had to have 20% down to buy a home. Contracts were written with carbon paper! Transactions have gotten more complex, the doors to homeownership are open to far more people because of changes in lending practices, and technology impacts everything we do today. Maureen Real Estate remains a people business. When my father started McEnearney Associates, his focus was to have the best trained, most professional agents helping our clients make sound real estate decisions – and that remains our focus today. Despite all of the changes David mentioned and the impact of the Internet, a larger percentage of buyers and sellers use an agent today than they did 40 years. Our commitment as a locally-owned, independent real estate company serving our clients and our community is unwavering.

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Maureen McEnearney Dunn President

David Howell CIO, EVP, Principal Broker of the DC & MD Offices

david howell

Alexandria, Virginia Review There is no question that the Amazon Headquarters 2 announcement had enormous impact on Alexandria‘s real estate market in the first half of 2019 – but not in ways that many expected. Including us. At the beginning of the year, we speculated that because of Amazon’s news, we might see “an 8% - 10% increase in the number of sales and a similar increase in prices in the City of Alexandria and more stable sales and prices in South Alexandria.” We were half right. Prices closest to the Crystal City/ Pentagon City HQ2 buzz did rise higher than the rest of the region – the 10.74% increase in the Potomac Yards portion of the City is a good example. In those areas with lower price points and a higher concentration of condos – most attractive to first time homebuyers and investors – prices rose as well. Alexandria West and Eisenhower saw similar average price increases. We do want to add a cautionary note. There have been some truly sensational – and misleading – stories in local media recently about meteoric price increases. One even suggested that prices in the HQ2 zip code had doubled. We think the best measure of actual price appreciation is found by looking at homes that have sold twice – once shortly before the Amazon news and once since. On that admittedly small sample size, price appreciation has been about 8%. However, and despite the understandable hype associated with Amazon, unit sales actually dropped in the first half of the year in both the City of Alexandria and the Alexandria portions of Fairfax County. The reason is simple: there was an enormous decline in the inventory of homes on the market. At the end of June 2019, there were half as many available homes in the City as there were twelve months earlier. Homeowners who do not have a time-sensitive need to sell seem to be holding off putting their homes on the market in anticipation of much higher prices in the years ahead as Amazon begins to ramp up their hiring. Remember that this drop in the number of sales came during a time of falling mortgage interest rates which made purchasing a home more affordable. We’re very bullish on the Alexandria housing market, and we expect current conditions to persist well into next year. That means record-low inventory and relatively stable unit sales. Home prices closest to the newly christened “National Landing” Amazon HQ2 will still see disproportionately higher price appreciation. And condos will continue to be in higher demand than attached and detached homes.

David Howell CIO, Executive Vice President & Principal Broker of DC & MD Offices o. +1 202.552.5610 dhowell@mcenearney.com

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

summary report of

City of Alexandria, Virginia # of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Alexandria West

160

144

-10.00%

$313,507

$350,816

11.90%

97.8%

100.7%

2.97%

33.7

31.7

Arlandria

-27.27%

$526,527

$552,183

4.87%

99.2%

101.1%

1.92%

26.4

27.3

Del Ray

119

126

5.88%

$718,010

$716,514

-0.21%

99.0%

101.1%

2.12%

22.9

17.6

Eisenhower

44.12%

$515,718

$575,063

11.51%

95.3%

99.4%

4.30%

60.4

35.2

Landmark/Cameron Station

281

303

7.83%

$358,317

$359,007

0.19%

98.6%

99.9%

1.32%

32.7

33.9

Northridge, Beverley Hills, Braddock Heights

118

114

-3.39%

$628,204

$626,294

-0.30%

98.8%

99.8%

1.01%

21.4

24.6

Old Town

349

285

-18.34%

$765,588

$826,183

7.91%

97.0%

97.6%

0.62%

37.9

40.9

Potomac Greens/Potomac Yard

-4.76%

$725,874

$803,803

10.74%

98.4%

98.3%

-0.10%

33.3

36.1

Rosemont

-22.22%

$963,179

$945,321

-1.85%

96.1%

99.7%

3.75%

34.2

26.8

Seminary Ridge

158

125

-20.89%

$466,568

$537,206

15.14%

98.6%

0.00%

32.9

28.9

Taylor Run

-10.77%

$670,578

$577,012

-13.95%

97.8%

99.2%

1.43%

36.4

24.7

1407

1326

-5.76%

$567,756

$582,106

2.53%

97.9%

99.2%

1.33%

31.9

31.2

City of Alexandria

# of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Detached Homes

234

201

-14.10%

$938,330

$945,595

0.77%

97.1%

98.3%

1.24%

32.2

35.0

Attached Homes

601

531

-11.65%

$673,997

$729,006

8.16%

98.3%

99.5%

1.22%

27.8

27.6

Condominiums

572

594

3.85%

$304,531

$327,788

7.64%

97.9%

99.4%

1.53%

36.0

33.1

Market Share by Type - 2019 First Half Detached

Attached

Condominiums

Market Share by Price - 2019 First Half $0-$299,999

$300,000-$499,999

$750,000-$999,999

$1M-$1.49M

99 32

15.16% 211

351

44.80% 40.05%

343

290

$500,000-$749,999 $1.5M+

VAAX227658 800 S Lee St

Alexandria West CITY OF ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAFX1054228 6471 Woodridge Rd

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$799,000

$365,000

24.1

1H19

$750,000

$495,000

85.7

1H18

$735,000

$216,500

25.4

1H19

$685,000

$265,000

28.9

1H18

$450,000

$120,000

34.9

1H19

121

$470,000

$120,000

32.4

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Arlandria CITY OF ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAAX236102 3803 Edison St

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$849,000

$690,000

3.0

1H19

$1,215,000

$672,800

10.5

1H18

$660,000

$300,000

29.0

1H19

$627,000

$285,000

25.7

1H18

$495,000

$465,000

33.0

1H19

$420,000

$346,000

53.0

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Del Ray CITY OF ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAAX227018 208 Clifford Ave

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,595,000

$500,000

1H19

22.2

1H19

$1,869,298

$550,000

1H18

$1,002,500

$425,000

1H19

$454,000

$1,201,075

1H18

$800,000

$268,000

1H19

$265,000

$195,000

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

1H18

1H19

27.1 1H18

11.9 1H19

17.0 1H18

31.1 1H19

45.1 1H18

Eisenhower CITY OF ALEXANDRIA, VA

VAAX227046 520 John Carlyle St #104

Condominiums

Attached Homes

Detached Homes

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

1H19

1H18

$975,000

$515,000

34.5

1H19

$825,000

$520,000

109.8

1H18

$895,000

$343,000

35.5

1H19

$950,000

$315,000

42.6

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Landmark/Cameron Station CITY OF ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAAX233894 235 Medlock Ln

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,025,000

$970,000

73.3

1H19

$1,022,000

44.0

1H18

$877,000

$277,000

34.3

1H19

$880,000

$389,500

30.7

1H18

226

$521,000

$125,650

33.2

1H19

201

$465,000

$125,000

33.4

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Northridge/Beverley Hills/Braddock Heights CITY OF ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAAX209482 304 Virginia Ave

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$2,600,000

$610,000

36.9

1H19

$3,125,000

$527,000

28.1

1H18

$649,900

$282,000

10.6

1H19

$645,000

$233,000

11.9

1H18

$375,000

$199,900

24.9

1H19

$349,999

$167,000

19.1

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Old Town CITY OF ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAAX226622 22 Wolfe St

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$3,850,000

$567,000

67.9

1H19

$2,875,000

$380,000

51.7

1H18

170

$3,275,000

$270,000

38.8

1H19

232

$2,750,000

$419,000

34.1

1H18

100

$2,050,000

$185,000

40.3

1H19

$2,600,000

$175,000

44.2

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Potomac Greens/Potomac Yard CITY OF ALEXANDRIA, VA

VAAX100290 719 Bracey Ln

Condominiums

Attached Homes

Detached Homes

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

1H19

1H18

$1,150,000

$690,000

34.1

1H19

$1,065,000

$605,000

31.1

1H18

$820,000

$315,000

41.2

1H19

$764,900

$240,000

41.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Rosemont CITY OF ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAAX226876 118 W Alexandria Ave

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,680,000

$624,500

26.8

1H19

$1,855,000

$675,000

36.1

1H18

1H19

$550,000

2.0

1H18

1H19

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Seminary Ridge CITY OF ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

1004251676 1591 Chapel Hill Dr

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,375,000

$455,000

40.9

1H19

$1,485,000

$361,000

34.2

1H18

$747,273

$320,000

16.5

1H19

$865,921

$270,000

26.4

1H18

$350,000

$127,800

30.9

1H19

$319,900

$85,000

41.5

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Taylor Run CITY OF ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAAX226960 518 Canterbury Ln

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,565,000

$603,000

32.6

1H19

$2,800,000

$615,000

36.4

1H18

$665,000

$465,000

25.4

1H19

$755,000

$443,000

17.8

1H18

$416,069

$179,000

18.0

1H19

$385,000

$220,000

50.0

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

VAAX234766 500 S Fayette St

summary report of

Alexandria, Virginia (Fairfax County) # of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Belle Haven

110

13.40%

$470,879

$475,262

0.93%

95.4%

97.3%

1.99%

44.4

45.7

Fort Hunt

173

170

-1.73%

$707,060

$764,422

8.11%

98.3%

97.5%

-0.81%

32.5

43.8

Franconia

343

378

10.20%

$481,450

$505,228

4.94%

99.2%

99.5%

0.30%

24.1

33.8

Huntington

122

110

-9.84%

$387,816

$402,616

3.82%

98.3%

99.7%

1.42%

35.5

32.9

Hybla Valley

151

150

-0.66%

$444,658

$479,192

7.77%

98.7%

99.2%

0.51%

25.7

31.3

Kingstowne

215

198

-7.91%

$506,974

$505,860

-0.22%

99.3%

99.8%

0.50%

26.0

28.3

Mount Vernon

270

245

-9.26%

$444,894

$436,462

-1.90%

97.7%

99.20%

1.54%

33.0

35.0

Alexandria (Fairfax County)

1519

1515

-0.26%

$494,481

$512,964

3.74%

98.3%

99.0%

0.71%

30.1

35.0

# of units sold

avg dom

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Detached Homes

721

711

-1.39%

$613,851

$644,900

5.06%

97.8%

98.2%

0.41%

33.7

43.8

Attached Homes

543

532

-2.03%

$447,405

$460,676

2.97%

99.5%

100.4%

0.90%

20.4

25.6

Condominiums

255

272

6.67%

$257,216

$270,357

5.11%

97.8%

99.4%

1.64%

40.8

30.7

Market Share by Type - 2019 First Half Detached

avg sp vs . lp

avg sold price

1H18

Attached

Condominiums

Market Share by Price - 2019 First Half $0-$299,999

$300,000-$499,999

$750,000-$999,999

$1M-$1.49M

$1.5M+

23 142

17.95% 46.93% 35.12%

577

$500,000-$749,999

230

539

1007847040 7615 Southdown Rd

Belle Haven ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAFX867730 5908 Sandbrook Ct

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,540,000

$380,000

63.9

1H19

$1,460,000

$372,500

45.2

1H18

$695,000

$336,000

23.9

1H19

$624,000

$345,000

21.1

1H18

$447,555

$110,250

35.2

1H19

$287,500

$120,300

47.9

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Fort Hunt ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAFX992764 8618 Conover Pl

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

170

$4,600,000

$375,000

43.8

1H19

173

$1,607,119

$399,900

32.5

1H18

1H19

1H18

1H19

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Franconia ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAFX745746 5916 Founders Hill Dr #303

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

180

$1,260,000

$301,000

43.7

1H19

139

$987,500

$300,000

26.0

1H18

148

$659,000

$295,500

24.4

1H19

155

$650,000

$260,000

18.2

1H18

$373,000

$180,000

25.9

1H19

$350,000

$153,470

37.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Huntington ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAFX1050170 3107 Marl Pat Dr

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$765,000

$275,750

35.2

1H19

$730,000

$360,000

19.2

1H18

$784,900

$305,500

24.4

1H19

$623,500

$300,000

18.1

1H18

$843,800

$110,000

38.6

1H19

$805,000

$143,000

18.1

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Hybla Valley ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAFX747040 7840 Liberty Springs Cir

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,000,000

$325,000

35.1

1H19

$916,000

$335,000

32.7

1H18

$841,870

$265,000

25.5

1H19

$506,500

$300,000

18.2

1H18

$288,000

$130,000

32.6

1H19

$255,000

$87,000

22..2

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Kingstowne ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAFX502508 7021 Chesley Search Way

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$940,000

$350,000

41.8

1H19

$859,000

$445,000

31.2

1H18

121

$729,684

$299,900

26.4

1H19

141

$762,050

$260,000

22.0

1H18

$392,000

$215,000

21.4

1H19

$341,000

$229,000

37.9

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Mount Vernon ALEXANDRIA, VA

Condominiums

Attached Homes

Detached Homes

VAAX744938 9208 Cherrytree Dr

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

130

$1,250,000

$230,000

41.8

1H19

157

$1,850,000

$268,000

37.6

1H18

$465,000

$140,000

30.1

1H19

$661,715

$115,000

23.9

1H18

$230,000

$135,000

19.8

1H19

$210,000

$111,000

31.5

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

1003797320 6036 Fort Hunt Rd

david howell

Arlington County & Falls Church City Review As anticipated, the Amazon Headquarters 2 announcement was the biggest story in Arlington County’s real estate market in the first half of 2019. There is no doubt that the prospect of 25,000+ direct Amazon jobs coming to Northern Virginia over the next decade created a buzz unlike any we have seen, and that buzz is most acute at the epicenter of Amazon’s future development in Crystal City and Pentagon City. There have been some truly sensational – and misleading – stories in local media recently about meteoric price increases. One even suggested that prices in the HQ2 zip code (22202) had doubled. We think the best measure of actual price appreciation is found by looking at homes that have sold twice – once shortly before the Amazon news and once since. On that admittedly small sample size, price appreciation has been about 8%. Given the fact that overall price appreciation in the metro area was just under 3% in the first half of the year, that’s a very solid number. While prices are up, contract activity and sales are down. As you’ll see in the following pages, the South Arlington zip codes (those are the even-numbers ones) closest to Amazon had a significant drop in the number of sales. Overall sales in 22202, 22204 and 22206 were down 17%. That is simply because there were so few homes on the market for sale. The typical monthend inventory of condos in Crystal City prior to the Amazon announcement was 25-30. Now there are usually less than 8. Homeowners are holding off putting their homes on the market in anticipation of much higher prices once Amazon’s hiring ramps up. Arlington’s housing market will continue to see a very tight inventory for the foreseeable future, and that will keep upward pressure on home prices. Falls Church City had a very solid first half of 2019. The number of homes sold was up almost 10% and the average sales price jumped 20%. Bear in mind that with the relatively small number of sales, right at 100, the average sales price can skew on just a handful of more expensive sales. We expect continuing strong performance in Falls Church.

David Howell CIO, Executive Vice President & Principal Broker of DC & MD Offices o. +1 202.552.5610 dhowell@mcenearney.com

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

summary report of

Arlington County & Falls Church City # of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

22201 & 22209

448

401

-10.49%

$661,939

$648,783

-1.99%

97.8%

98.4%

0.61%

52.6

49.6

22202

113

-38.94%

$595,771

$642,679

7.87%

98.8%

99.3%

0.51%

38.7

29.9

22203, 22205, 22213

260

255

-1.92%

$714,640

$784,864

9.83%

98.7%

99.6%

0.91%

42.8

45.2

22204

285

269

-5.61%

$478,267

$485,667

1.55%

99.2%

100.50%

1.31%

32.2

29.7

22206

207

164

-20.77%

$429,097

$461,505

7.55%

99.7%

101.8%

2.11%

19.2

13.8

22207

230

260

13.04%

$1,061,745

$1,105,248

4.10%

97.9%

0.00%

65.3

61.4

Arlington County

1543

1418

-8.10%

$660,407

$704,050

6.61%

98.4%

99.0%

0.61%

43.6

42.1

Falls Church City

102

9.68%

$760,718

$915,671

20.37%

99.0%

98.8%

-0.20%

33.3

47.7

# of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Detached Homes

520

525

0.96%

$1,024,086

$1,064,684

3.96%

98.4%

98.8%

0.41%

47.2

49.7

Attached Homes

272

241

-11.40%

$601,236

$640,308

6.50%

99.4%

100.4%

1.01%

24.9

26.2

Condominiums

751

652

-13.18%

$430,022

$437,223

1.67%

97.9%

98.8%

0.92%

47.9

41.8

Market Share by Type - 2019 First Half Detached

Attached

Condominiums

Market Share by Price - 2019 First Half $0-$299,999

$300,000-$499,999

$750,000-$999,999

$1M-$1.49M

37.02% 45.98%

183

arlington county

263

17.00%

$1.5M+

86 195 arlington county

318 8 3 9

16.67% falls church city

15.69%

67.65%

$500,000-$749,999

falls church city

373

VAAR103840 4748 33rd St N

22201 & 22209 BALLSTON, COURTHOUSE, CLARENDON, LYON PARK, ROSSLYN, VIRGINIA SQUARE

Condominiums

Attached Homes

Detached Homes

VAAR148118 3409 Wilson Blvd #609

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$2,260,000

$625,000

45.6

1H19

$2,595,000

$580,000

38.4

1H18

$1,750,000

$470,000

44.5

1H19

$2,000,000

$460,000

41.1

1H18

314

$2,950,000

$118,000

50.9

1H19

351

$3,050,000

$102,000

56.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

22202 ADDISON HEIGHTS, ARLINGTON RIDGE, AURORA HILLS, CRYSTAL CITY, PENTAGON CITY

Condominiums

Attached Homes

Detached Homes

VAAR140266 2615 S Joyce St

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,600,000

$630,000

18.8

1H19

$1,537,250

$610,000

28.9

1H18

$1,079,000

$565,000

52.5

1H19

$815,000

$530,000

11.9

1H18

$1,100,000

$195,000

33.1

1H19

$675,000

$185,000

50.2

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

22203, 22205 & 22213 BALLSTON, BUCKINGHAM, EAST FALLS CHURCH, WESTOVER, WEST ARLINGTON

Condominiums

Attached Homes

Detached Homes

1002254692 2843 Rochester St N

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

151

$4,477,139

$607,000

42.3

1H19

138

$1,795,000

$395,000

39.8

1H18

$1,175,000

$511,000

23.4

1H19

$1,025,000

$485,000

33.7

1H18

$825,000

$30,000

54.7

1H19

$850,000

$95,000

49.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

22204 ALCOVA HEIGHTS, ARLINGTON HEIGHTS, BARCROFT, COLUMBIA FOREST, COLUMBIA PIKE, GLENCARLYN

Condominiums

Attached Homes

Detached Homes

VAAR139184 404 S Highland St

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,295,000

$390,000

38.0

1H19

$1,370,000

$425,000

35.9

1H18

$958,000

$225,000

23.2

1H19

$818,500

$271,000

17.5

1H18

114

$510,000

$100,000

28.5

1H19

109

$617,500

$130,000

40.7

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

22206 FAIRLINGTON, SHIRLINGTON

Condominiums

Attached Homes

Detached Homes

VAAR148906 1429 S Greenbrier St

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$850,000

$332,500

15.2

1H19

$725,000

$550,000

7.8

1H18

$762,000

$323,000

12.2

1H19

$740,000

$315,000

18.2

1H18

$630,000

$265,000

15.4

1H19

106

$760,000

$232,000

20.6

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

22207 CHAIN BRIDGE, CHERRYDALE, COUNTRY CLUB HILLS, LEE/HARRISON, WILLIAMSBURG, YORKTOWN, WAVERLY HILLS

Condominiums

Attached Homes

Detached Homes

VAAR147818 2500 24th St N

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

222

$2,575,000

$570,000

64.3

1H19

193

$3,270,011

$495,000

64.7

1H18

$1,675,000

$608,500

55.9

1H19

$1,555,000

$480,000

73.9

1H18

$550,000

$174,900

35.8

1H19

$624,900

$165,000

65.7

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Falls Church City FALLS CHURCH CITY, VA

Condominiums

Attached Homes

Detached Homes

VAFA109166 610 Knollwood Dr

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,795,900

$458,300

53.6

1H19

$1,589,900

$425,000

57.4

1H18

$1,275,300

$420,000

24.1

1H19

$1,090,000

$170,000

15.0

1H18

$899,000

$220,000

46.1

1H19

$985,000

$389,000

11.5

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

VAAR138906 2305 N Monroe St

david howell

Fairfax County, Virginia Review Six months ago we projected that Fairfax County’s real estate market in the first half of 2019 would look a lot like 2018’s – and with one exception we were right. The number of homes sold was almost identical, and overall price appreciation was a modest and sustainable 3%. The average number of days a home was on the market before going under contract was 38, up 8 days from the first half of 2018. Not much change. The exception was the inventory of available homes on the market. In 2018, there were roughly 20% fewer homes on the market than in 2017, and that low inventory has dropped even further into 2019. There were 15% fewer homes on the market through the first half of 2019 compared to last year. Property owners are simply holding onto their homes for longer periods of time. And that shortage of homes is even more acute for properties priced less than $500,000 – there are half as many available homes in that price range today as there were this time last year. That makes it pretty challenging for first-time buyers. As one would expect in such a large County, some areas fared better than others. Vienna, Oakton, Springfield, Great Falls and Fairfax all had doubledigit increases in the number of homes sold. Centreville and Lorton both had double-digit decreases in sales, but they had considerably higher average price appreciation. As we head into the second half of the year, we are encouraged by mortgage interest rates that are well below 4%. That has helped ease concerns over affordability. The overall supply of homes on the market is less than two months, and is only about three weeks for homes priced less than $500,000. We don’t see anything that will likely change this tight market through the rest of the year and into 2020.

David Howell CIO, Executive Vice President & Principal Broker of DC & MD Offices o. +1 202.552.5610 dhowell@mcenearney.com

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

summary report of

Fairfax County, Virginia # of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Annandale

371

346

-6.74%

$521,464

$529,921

1.62%

98.5%

99.0%

0.51%

28.4

38.2

Burke

336

356

5.95%

$503,495

$515,159

2.32%

99.5%

100.0%

0.50%

19.0

31.5

Centreville

593

533

-10.12%

$436,195

$460,261

5.52%

99.2%

99.3%

0.10%

20.5

29.4

Chantilly

131

126

-3.82%

$511,419

$560,570

9.61%

98.9%

99.3%

0.40%

21.9

32.7

Clifton & Fairfax Station

246

245

-0.41%

$757,485

$798,183

5.37%

97.9%

95.9%

-2.04%

34.1

58.5

Fairfax (including Fairfax City)

932

1116

19.74%

$560,642

$555,600

-0.90%

99.0%

99.2%

0.20%

24.5

35.1

Falls Church (Fairfax County)

658

684

3.95%

$526,329

$559,467

6.30%

98.8%

0.00%

31.6

34.9

Great Falls

107

136

27.10%

$1,127,268

$1,222,141

8.42%

94.5%

94.6%

0.11%

74.9

86.9

Herndon & Oak Hill

563

546

-3.02%

$545,462

$556,851

2.09%

99.1%

98.8%

-0.30%

24.7

32.5

Lorton

257

221

-14.01%

$485,027

$522,160

7.66%

98.6%

98.2%

-0.41%

27.1

38.6

McLean

463

445

-3.89%

$1,102,479

$1,080,471

-2.00%

94.9%

96.2%

1.37%

51.2

53.7

Reston

682

637

-6.60%

$474,434

$476,970

0.53%

98.1%

98.7%

0.61%

30.5

36.9

Springfield

699

773

10.59%

$490,037

$512,276

4.54%

99.4%

99.6%

0.20%

22.4

30.6

Vienna & Oakton

598

664

11.04%

$800,611

$806,474

0.73%

97.8%

97.7%

-0.10%

34.4

48.3

Fairfax County

8181

8180

-0.01%

$577,205

$595,515

3.17%

98.1%

98.4%

0.31%

29.3

37.7

# of units sold

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Detached Homes

4106

4210

2.53%

$758,532

$774,627

2.12%

97.6%

97.7%

0.10%

33.4

43.5

Attached Homes

2637

2471

-6.30%

$455,293

$472,036

3.68%

99.4%

100.0%

0.60%

20.1

28.9

Condominiums

1438

1499

4.24%

$283,016

$296,017

4.59%

97.6%

98.8%

1.23%

34.9

36.1

Market Share by Type - 2019 First Half Detached

avg sp vs . lp

avg sold price

Attached

Condominiums

Market Share by Price - 2019 First Half $0-$299,999

$300,000-$499,999

$750,000-$999,999

$1M-$1.49M

460

30.21%

$1.5M+

1,068 176

18.33%

$500,000-$749,999

1,069 51.47%

2,483 2,924

VAAR103840 4748 33rd St N

Annandale FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX1055322 4903 Regina Dr

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

226

$1,354,000

$366,000

38.5

1H19

238

$1,500,000

$310,000

27.0

1H18

$669,000

$240,000

36.9

1H19

$516,500

$160,000

27.4

1H18

$355,000

$150,000

38.0

1H19

$350,000

$102,500

34.0

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Burke FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX1057904 6329 Timarron Cove Ln

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

172

$1,165,000

$377,500

27.4

1H19

162

$1,065,000

$444,000

20.2

1H18

155

$709,750

$260,000

35.5

1H19

160

$535,000

$227,000

15.4

1H18

$345,000

$195,000

34.1

1H19

$290,000

$110,000

46.9

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Centreville FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX1054532 14248 Autumn Cir

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

194

$1,650,000

$255,000

34.4

1H19

175

$1,399,990

$361,000

25.3

1H18

283

$630,000

$170,000

26.0

1H19

363

$580,000

$190,000

17.9

1H18

$325,000

$165,000

29.1

1H19

$380,000

$179,000

22.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Chantilly FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX748156 4936 Trail Vista Ln

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,275,000

$300,500

32.7

1H19

$1,474,780

$387,500

24.6

1H18

$720,000

$200,550

25.8

1H19

$740,860

$175,000

13.6

1H18

$290,000

$216,000

49.8

1H19

$270,000

$183,413

28.6

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Clifton & Fairfax Station FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX999412 5913 Innisvale Dr

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

224

$4,600,000

$450,000

61.8

1H19

227

$1,500,000

$409,000

36.3

1H18

$541,500

$255,000

27.5

1H19

$468,000

$320,000

7.9

1H18

$260,000

$203,000

10.0

1H19

$239,000

$202,500

6.7

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Fairfax (including Fairfax City) FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFC117790 9511 Shelly Krasnow Ln

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

503

$1,766,233

$361,000

40.8

1H19

418

$4,100,000

$412,480

28.9

1H18

376

$996,579

$230,000

27.3

1H19

343

$990,000

$195,000

18.9

1H18

237

$622,500

$112,000

35.2

1H19

171

$629,900

$178,000

24.8

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Falls Church (Fairfax County) FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX535140 2616 West St

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

342

$2,000,000

$333,000

37.0

1H19

321

$1,710,000

$300,000

31.3

1H18

$1,150,000

$325,000

23.7

1H19

$1,099,000

$301,000

22.2

1H18

244

$550,000

$132,500

36.4

1H19

252

$473,000

$115,000

35.1

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Great Falls FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX744742 1124 Walker Rd

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

136

$7,000,000

$475,000

86.9

1H19

107

$2,600,000

$550,000

74.9

1H18

1H19

1H18

1H19

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Herndon & Oak Hill FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX820942 1528 Summerset Pl

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

319

$1,696,013

$381,500

28.8

1H19

327

$3,040,000

$290,000

27.3

1H18

155

$812,500

$250,000

37.2

1H19

174

$714,251

$154,000

18.9

1H18

$656,625

$187,500

39.0

1H19

$628,873

$172,500

27.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Lorton FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX1049484 8244 Native Violet Dr

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$1,250,000

$369,000

52.7

1H19

109

$1,100,000

$295,000

31.2

1H18

114

$692,000

$186,500

30.1

1H19

126

$680,000

$150,000

24.3

1H18

$326,000

$147,000

17.0

1H19

$425,000

$146,000

23.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

McLean FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX103620 1110 Ingleside Ave

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

274

$6,390,714

$615,000

59.0

1H19

273

$12,000,000

$700,000

57.1

1H18

$1,425,000

$388,000

34.4

1H19

$1,750,000

$345,000

41.2

1H18

127

$1,285,000

$175,000

48.9

1H19

141

$1,300,000

$175,000

43.4

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Reston FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX1057614 2422 Silver Fox Ln

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

138

$1,350,000

$359,900

36.0

1H19

140

$1,350,000

$430,000

32.5

1H18

265

$1,025,000

$283,000

31.6

1H19

296

$999,995

$157,000

21.7

1H18

234

$1,048,000

$124,000

43.5

1H19

246

$1,600,000

$87,500

39.9

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Springfield FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX991884 7503 Axton St

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

451

$1,103,862

$283,750

32.4

1H19

403

$1,013,000

$339,800

24.8

1H18

277

$649,900

$269,777

28.3

1H19

257

$649,900

$235,000

18.5

1H18

$515,000

$160,000

25.6

1H19

$446,000

$165,000

23.2

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Vienna & Oakton FAIRFAX COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFX964920 11211 Sorrel Ridge Ln

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

439

$2,460,125

$524,999

55.4

1H19

388

$3,800,000

$450,000

39.1

1H18

123

$998,300

$274,000

37.9

1H19

117

$1,111,555

$312,000

21.3

1H18

102

$930,000

$187,500

30.4

1H19

$542,000

$180,000

31.0

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

david howell

Loudoun, Fauquier & Prince William County Review All three jurisdictions of Northern Virginia’s outer suburbs had a solid if unspectacular first half of the year. Here are the highlights: Loudoun County The number of homes sold was down almost 7% compared to the first half of 2018. That fairly modest decline in sales wasn’t isolated to one part of the county or property type. Ashburn – with arguably the hottest market in Loudoun, saw a 20% drop in the number of homes going to settlement. The primary reason is the lack of inventory, not softening demand. In 2018, inventory dropped 20% compared to 2017, and we have seen another 20% drop from there. That lower inventory combined with stable demand has helped push prices higher, up almost 3.5%. And on average, homes took about 12 days longer to sell than the first half of last year. Fauquier County Although Fauquier is the smallest and most rural of these three areas, it had the best market performance. There was a healthy 10% increase in the number of homes sold, and all three property types – detached, attached and condos – rose. (Bear in mind that almost 90% of the market is for detached homes.) Fauquier does not have the same inventory challenge as Loudoun and Prince William, with almost the same number of homes on the market as last year. The average sales price rose 6.5%, and that’s one of the best numbers in the metro area. But homes did take, on average, 20 days longer to sell. Prince William County There was a modest increase in the number of homes sold, up 2.4% compared to the first half of 2018, due to an 8% increase in sales in Woodbridge and a 17% increase in the much smaller Bristow. Sales elsewhere in the county were down. Prince William has the same inventory challenges as Loudoun, with a 20% drop in the number of homes on the market compared to last year. Buyers just don’t have a lot of choices, particularly for entry-level homes. The overall average sales price rose 3.25%, and was up in every part of the county. And closely matching Loudoun County, homes in Prince William took about 14 days longer to sell than the same time period last year.

David Howell CIO, Executive Vice President & Principal Broker of DC & MD Offices o. +1 202.552.5610 dhowell@mcenearney.com

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

summary report of

Loudoun County, Virginia # of units sold

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Ashburn

985

785

-20.30%

$532,083

$543,330

2.11%

99.0%

0.00%

23.8

36.6

Leesburg

769

722

-6.11%

$523,995

$542,508

3.53%

98.2%

0.00%

33.4

41.9

East Loudoun

969

919

-5.16%

$463,915

$467,406

0.75%

99.0%

99.4%

0.40%

22.3

32.6

West Loudoun

706

647

-8.36%

$554,978

$605,176

9.05%

98.1%

97.5%

-0.61%

37.5

55.9

3,569

3,322

-6.92%

$519,476

$536,871

3.35%

98.6%

98.5%

-0.10%

28.6

40.9

Loudoun County

# of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Detached Homes

1,671

1,529

-8.50%

$644,808

$672,888

4.35%

98.1%

97.9%

-0.20%

35.6

52.1

Attached Homes

1,303

1,230

-5.60%

$450,850

$466,163

3.40%

99.4%

99.6%

0.20%

21.2

31.2

595

563

-5.38%

$317,779

$321,953

1.31%

98.8%

99.0%

0.20%

25.0

32.0

Condominiums

Market Share by Type - 2019 First Half Detached

avg sp vs . lp

avg sold price

Attached

Condominiums

Market Share by Price - 2019 First Half $0-$299,999

$300,000-$499,999

$750,000-$999,999

$500,000-$749,999

$1M-$1.49M

$1.5M+

14 16.95%

339

79 273

46.03% 37.03%

1,209

1,408

VALO387402 14416 Loyalty Rd

Ashburn LOUDOUN COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VALO100700 20673 Erskine Ter

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

234

$1,500,000

$259,995

37.4

1H19

298

$1,511,156

$445,000

25.3

1H18

392

$1,331,000

$320,000

37.1

1H19

473

$930,821

$324,000

25.6

1H18

159

$650,000

$182,500

34.0

1H19

214

$709,000

$99,694

17.5

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Leesburg LOUDOUN COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VALO352702 43535 Michigan Sq #Rs1

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

348

$2,750,000

$210,000

52.9

1H19

376

$1,800,000

$105,800

41.7

1H18

254

$1,050,000

$243,000

28.5

1H19

247

$1,100,000

$239,900

18.3

1H18

120

$624,000

$142,000

37.9

1H19

146

$828,611

$104,500

37.5

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

East Loudoun LOUDOUN COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VALO315028 42243 Riggins Ridge Ter

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

370

$1,300,000

$340,000

37.6

1H19

414

$1,199,000

$260,000

25.0

1H18

368

$895,000

$177,000

29.6

1H19

397

$704,000

$195,000

17.7

1H18

181

$626,500

$120,000

28.7

1H19

158

$665,000

$125,000

26.6

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

West Loudoun LOUDOUN COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VALO381348 38238 Stone Eden Dr

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

463

$3,750,000

$175,000

68.2

1H19

493

$3,700,000

$145,000

44.5

1H18

122

$610,000

$255,000

21.4

1H19

140

$625,000

$210,000

22.5

1H18

$420,407

$265,000

31.8

1H19

$401,000

$209,000

18.9

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

summary report of

Fauquier County, Virginia # of units sold

avg sp vs . lp

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Warrenton

295

303

2.71%

$442,225

$444,101

0.42%

97.1%

97.6%

0.51%

37.9

53.6

Fauquier County

532

587

10.34%

$420,215

$447,450

6.48%

96.3%

95.0%

-1.35%

45.2

66.5

# of units sold

avg sold price

avg sp vs . lp

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Detached Homes

475

517

8.84%

$441,066

$473,653

7.39%

96.2%

94.8%

-1.46%

48.2

69.1

Attached Homes

15.38%

$272,869

$272,784

-0.03%

98.9%

98.5%

-0.40%

17.7

41.1

Condominiums

38.89%

$189,236

$219,974

16.24%

96.6%

96.0%

-0.62%

26.3

59.9

Market Share by Type - 2019 First Half Detached

avg sold price

Attached

Condominiums

Market Share by Price - 2019 First Half $0-$299,999 $750,000-$999,999

4.26%

$300,000-$499,999 $1M-$1.49M

20 3 7

7.67%

124

139

88.07%

294

$500,000-$749,999 $1.5M+

Warrenton FAUQUIER COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAFQ155176 4537 Spring Run Rd

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

256

$1,400,000

$145,000

54.6

1H19

259

$3,250,000

$171,000

40.6

1H18

$385,000

$125,000

41.7

1H19

$380,000

$220,000

17.9

1H18

$380,000

$92,500

59.5

1H19

$393,000

$145,000

20.5

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

VAFQ155176 4537 Spring Run Rd

summary report of

Prince William County, Virginia # of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Bristow

257

302

17.51%

$438,537

$448,620

2.30%

99.0%

99.1%

0.10%

22.7

35.1

Dumfries

371

334

-9.97%

$378,676

$390,188

3.04%

99.1%

98.5%

-0.61%

37.5

42.8

Gainesville

401

395

-1.50%

$469,568

$474,410

1.03%

98.6%

98.5%

-0.10%

30.0

41.3

Haymarket

310

273

-11.94%

$524,461

$541,363

3.22%

98.3%

98.0%

-0.31%

34.6

49.8

Manassas

688

664

-3.49%

$377,426

$398,201

5.50%

98.6%

98.4%

-0.20%

31.4

44.8

Woodbridge

1509

1634

8.28%

$346,507

$359,196

3.66%

98.6%

98.7%

0.10%

28.4

45.8

Prince William County

3684

3772

2.39%

$393,706

$406,621

3.28%

98.6%

98.5%

-0.10%

30.8

45.5

# of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Detached Homes

2060

2086

1.26%

$464,116

$479,250

3.26%

98.2%

0.00%

35.2

51.7

Attached Homes

1473

1484

0.75%

$312,101

$328,315

5.20%

99.3%

99.1%

-0.20%

24.4

37.7

Condominiums

151

202

33.77%

$229,191

$231,873

1.17%

98.0%

98.6%

0.61%

32.8

38.3

Market Share by Type - 2019 First Half Detached

Attached

Condominiums

Market Share by Price - 2019 First Half $0-$299,999

$300,000-$499,999

$750,000-$999,999

$1M-$1.49M

14 3 68

5.36% 778 39.34%

55.30%

2,091

818

$500,000-$749,999 $1.5M+

VAPW101258 472 Belmont Bay Dr

Bristow PRINCE WILLIAM COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAPW464188 12056 Elliots Oak Pl

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

187

$675,000

$275,000

39.9

1H19

160

$840,000

$195,000

28.7

1H18

115

$455,000

$260,000

27.2

1H19

$452,000

$231,000

13.0

1H18

1H19

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Dumfries PRINCE WILLIAM COUNTY, VA

Condominiums

Attached Homes

Detached Homes

Leesylvania State Park Dumfries, VA

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

191

$760,000

$255,000

45.5

1H19

210

$803,197

$202,125

37.6

1H18

141

$557,870

$175,000

39.7

1H19

158

$672,811

$155,000

36.1

1H18

$195,000

$190,000

4.5

1H19

$335,000

$165,000

99.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Gainesville PRINCE WILLIAM COUNTY, VA

Condominiums

Attached Homes

Detached Homes

Battle of Manassas Prince William County, VA

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

236

$1,300,000

$230,000

47.1

1H19

247

$1,175,000

$220,000

33.9

1H18

143

$703,188

$245,000

31.5

1H19

140

$636,343

$215,000

22.5

1H18

$399,990

$223,000

44.3

1H19

$360,500

$175,000

36.5

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Haymarket PRINCE WILLIAM COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAPW462766 2014 Youngs Dr

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

159

$1,455,000

$270,000

60.3

1H19

191

$1,120,000

$240,000

39.7

1H18

106

$575,000

$255,000

35.3

1H19

105

$584,000

$250,000

22.3

1H18

$500,000

$280,000

32.0

1H19

$451,215

$274,900

56.4

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Manassas PRINCE WILLIAM COUNTY, VA

Condominiums

Attached Homes

Detached Homes

Battlefield of Manassas Prince William County, VA

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

391

$2,159,729

$120,000

51.8

1H19

392

$849,000

$150,000

37.8

1H18

222

$479,599

$115,000

35.5

1H19

256

$467,300

$150,000

23.0

1H18

$289,000

$114,300

30.6

1H19

$387,060

$109,000

21.4

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Woodbridge PRINCE WILLIAM COUNTY, VA

Condominiums

Attached Homes

Detached Homes

VAPW101258 472 Belmont Bay Dr

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

792

$2,000,000

$180,000

51.6

1H19

754

$1,240,000

$176,786

31.9

1H18

721

$1,256,000

$132,500

40.3

1H19

676

$530,000

$119,000

24.2

1H18

120

$542,500

$109,000

40.8

1H19

$465,000

$105,500

31.5

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

david howell

Suburban Maryland Review The first half of 2019 looked a lot like the first half of 2018 in the Maryland suburbs of the Washington, DC metro area. A lot. Montgomery County Units sales in the County were down 4.5% and the average sales price was almost unchanged, up just 0.5% at $551,000. As one might expect from such a large area that ranges from the rural northern parts of the County to the very urban areas closest to DC, market conditions varied considerably. Close-in Kensington had a 32% increase in the number of sales – but had a 9% drop in the average sales price. Kensington is also the smallest of the areas in our statistical break out, so a handful of sales can skew the average price significantly either way. Not far away in Silver Spring – the largest area – unit sales were down almost 5%. The average number of days a home was on the market before receiving a contract rose to 55 days, up 10 days from the first half of last year. Prince George’s County Then number of homes sold was almost unchanged, down just 0.5%, but the average sales price rose a little over 5%. The average price was up in every area as well. But that’s where a recap of the statistics can be misleading – there was a 10% drop in the number of condos that sold, so with a smaller number of less expensive properties selling as part of the overall mix of homes, the mathematical average is going to rise anyway. This doesn’t mean that homes appreciated by 5% across the board. Prince George’s continues to have the lowest average sales price in the metro area – and that’s a good thing. As more first-time homebuyers are getting priced out of DC and other suburbs, they are increasingly seeking PG’s more affordable housing stock. We don’t see anything in the cards that is likely to result in any big changes to either of these markets through the rest of the year.

David Howell CIO, Executive Vice President & Principal Broker of DC & MD Offices o. +1 202.552.5610 dhowell@mcenearney.com

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

summary report of

Montgomery County, Maryland # of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Bethesda & Chevy Chase

853

833

-2.34%

$991,899

$987,255

-0.47%

96.7%

96.8%

0.10%

59.9

68.7

Gaithersburg

876

757

-13.58%

$410,221

$403,810

-1.56%

98.3%

98.2%

-0.10%

39.9

56.3

Germantown

575

546

-5.04%

$329,135

$347,641

5.62%

98.5%

98.2%

-0.30%

34.5

47.3

Kensington

125

166

32.80%

$710,582

$644,944

-9.24%

99.0%

98.0%

-1.01%

62.5

45.2

Potomac & North Potomac

400

375

-6.25%

$947,814

$949,134

0.14%

95.2%

0.00%

62.7

79.0

Rockville

799

822

2.88%

$517,882

$503,192

-2.84%

97.8%

0.00%

39.0

51.5

Silver Spring

1449

1380

-4.76%

$405,176

$413,472

2.05%

98.5%

98.6%

0.10%

39.9

48.5

Montgomery County

6287

5999

-4.58%

$548,562

$551,096

0.46%

97.6%

97.5%

-0.10%

45.1

55.3

# of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Detached Homes

3422

3321

-2.95%

$714,763

$716,517

0.25%

97.5%

97.3%

0.25%

46.4

58.5

Attached Homes

1720

1525

-11.34%

$394,239

$394,313

0.02%

98.6%

98.7%

0.10%

38.0

46.6

Condominiums

1145

1153

0.70%

$283,669

$281,996

-0.59%

96.1%

96.2%

0.10%

52.2

57.7

Market Share by Type - 2019 First Half Detached

Attached

Condominiums

Market Share by Price - 2019 First Half $0-$299,999

$300,000-$499,999

$750,000-$999,999

$1M-$1.49M

184 370

19.22%

611

1,333

55.36% 25.42%

1,402 2,099

$500,000-$749,999 $1.5M+

MDMC625870 9720 Kensington Pkwy

Bethesda & Chevy Chase MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

1002603562 3220 Farmington Dr

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

560

$4,890,000

$399,000

65.4

1H19

577

$5,350,000

$520,000

56.6

1H18

$1,452,093

$355,000

57.9

1H19

$1,935,000

$190,000

30.4

1H18

219

$3,000,000

$130,000

79.6

1H19

219

$4,400,000

$135,000

76.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Gaithersburg MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

MDMC666956 639 Diamondback Dr #17-B

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

276

$1,896,364

$212,000

73.9

1H19

320

$1,275,000

$223,000

43.3

1H18

334

$859,000

$150,000

49.6

1H19

393

$950,000

$109,000

38.0

1H18

147

$621,512

$64,000

38.2

1H19

163

$550,000

$70,000

37.8

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Germantown MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

MDMC668184 21215 Lake Spray Ter #82

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

138

$1,150,000

$300,000

59.4

1H19

138

$1,100,000

$175,000

47.6

1H18

311

$575,000

$135,000

45.3

1H19

327

$548,575

$144,000

31.3

1H18

$365,389

$118,000

36.6

1H19

110

$333,000

$114,990

27.5

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Kensington MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

MDMC625870 9720 Kensington Pkwy

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

146

$1,699,000

$315,000

43.9

1H19

112

$2,150,000

$310,000

52.7

1H18

$567,000

$222,000

24.6

1H19

$543,017

$171,000

194.0

1H18

$250,000

$135,000

64.3

1H19

$250,000

$152,000

40.8

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Potomac & North Potomac MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

MDMC620758 11845 Beekman Pl

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

304

$4,200,000

$345,000

86.6

1H19

310

$4,125,000

$495,000

62.9

1H18

$1,300,000

$283,140

43.9

1H19

$1,450,000

$274,000

61.3

1H18

$1,865,000

$260,000

77.0

1H19

$1,291,000

$475,000

71.2

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Rockville MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

MDMC650062 10917 Brewer House Rd

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

461

$2,600,000

$231,100

44.6

1H19

472

$2,225,000

$185,000

35.0

1H18

146

$800,000

$220,000

48.3

1H19

152

$965,000

$127,000

39.1

1H18

215

$1,125,000

$113,000

68.4

1H19

175

$825,000

$120,000

49.7

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Silver Spring MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

MDMC621060 1020 Gadsden Ave

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

810

$1,195,000

$232,000

49.6

1H19

834

$1,300,000

$230,000

36.6

1H18

255

$859,000

$145,000

41.1

1H19

272

$1,050,000

$130,000

34.5

1H18

315

$608,000

$62,000

51.8

1H19

343

$492,000

$54,000

52.2

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

MDMC659484 3304 Cummings Ln

summary report of

Prince Georgeâ&#x20AC;&#x2122;s County, Maryland # of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Bowie

723

715

-1.11%

$345,402

$369,826

7.07%

98.5%

97.8%

-0.71%

43.0

59.5

Capitol Heights

375

314

-16.27%

$213,648

$232,737

8.93%

96.8%

97.2%

0.41%

50.9

58.7

District Heights

224

219

-2.23%

$220,647

$237,783

7.77%

98.1%

97.8%

-0.31%

34.5

59.7

Fort Washington

315

372

18.10%

$314,366

$328,428

4.47%

97.3%

97.0%

-0.31%

63.7

71.4

Hyattsville

332

344

3.61%

$294,963

$300,489

1.87%

99.0%

98.1%

-0.91%

35.5

50.8

Laurel

334

316

-5.39%

$296,422

$313,943

5.91%

98.9%

97.9%

-1.01%

39.0

56.3

Oxon Hill & National Harbor

180

190

5.56%

$256,224

$292,151

14.02%

97.6%

96.7%

-0.92%

54.1

79.4

Upper Marlboro

805

798

-0.87%

$338,172

$353,396

4.50%

97.8%

97.6%

-0.20%

54.7

67.1

Prince Georgeâ&#x20AC;&#x2122;s County

5412

5385

-0.50%

$296,026

$313,578

5.39%

98.0%

97.6%

-0.41%

47.3

62.9

# of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Detached Homes

3547

3583

1.01%

$327,390

$344,184

5.13%

97.8%

97.4%

-0.41%

49.5

65.7

Attached Homes

1219

1220

0.08%

$275,650

$287,196

4.19%

98.6%

0.00%

44.3

58.1

Condominiums

646

582

-9.91%

$162,263

$180,464

11.22%

97.9%

97.6%

-0.31%

41.4

55.8

Market Share by Type - 2019 First Half Detached

Attached

Condominiums

Market Share by Price - 2019 First Half $0-$299,999

$300,000-$499,999

$750,000-$999,999

$500,000-$749,999

$1M-$1.49M

$1.5M+

184 10.81%

370 611

22.66%

1,333

66.54% 1,402 2,099

Bowie MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

1007878780 2402 Keyberry Ln

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

502

$995,000

$129,000

62.0

1H19

496

$855,000

$180,000

45.4

1H18

167

$453,000

$150,769

57.1

1H19

172

$435,000

$160,000

38.4

1H18

$415,000

$115,000

41.0

1H19

$381,000

$76,000

36.2

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Capitol Heights

Condominiums

Attached Homes

Detached Homes

MONTGOMERY COUNTY, MD

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

227

$370,000

$62,000

57.5

1H19

272

$490,000

$75,000

52.4

1H18

$340,000

$109,000

61.6

1H19

$330,000

$89,000

49.2

1H18

$139,000

$69,100

69.3

1H19

$350,000

$79,000

23.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

District Heights MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

1009975568 6711 Darkwood Ct

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

139

$400,000

$115,000

64.4

1H19

138

$366,000

$110,000

36.7

1H18

$280,000

$150,000

52.8

1H19

$273,000

$135,000

33.7

1H18

$220,000

$52,500

44.1

1H19

$219,000

$33,000

23.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Fort Washington

Condominiums

Attached Homes

Detached Homes

MONTGOMERY COUNTY, MD

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

333

$780,000

$109,900

74.3

1H19

285

$760,081

$105,000

64.6

1H18

$325,000

$160,000

52.3

1H19

$299,900

$170,000

27.1

1H18

$217,500

$119,999

35.0

1H19

$225,000

$117,000

83.4

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

100

Hyattsville MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

1002513352 4545 Longfellow St

101

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

228

$811,000

$107,000

53.7

1H19

219

$745,000

$140,000

35.8

1H18

$650,000

$137,000

39.3

1H19

$520,000

$161,100

33.1

1H18

$328,000

$55,255

53.4

1H19

$482,145

$50,000

36.4

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Laurel MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

1000107162 13601 Belle Chasse Blvd #315

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

169

$640,000

$128,000

59.8

1H19

145

$650,000

$110,000

45.1

1H18

$505,000

$120,000

53.3

1H19

104

$459,901

$94,500

33.3

1H18

$305,000

$107,000

50.7

1H19

$295,000

$59,000

35.5

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

102

Oxon Hill & National Harbor MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

1000037645 157 Fleet St #611

103

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$475,000

$135,000

66.5

1H19

$425,000

$105,000

31.9

1H18

$850,000

$107,959

79.9

1H19

$775,000

$115,000

49.6

1H18

$761,253

$37,500

98.0

1H19

$854,065

$40,000

106.2

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Upper Marlboro MONTGOMERY COUNTY, MD

Condominiums

Attached Homes

Detached Homes

MDPG525420 13031 Boykin Pl

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

435

$1,225,000

$68,000

70.2

1H19

454

$931,725

$105,000

61.3

1H18

263

$584,000

$139,000

64.6

1H19

260

$620,000

$140,000

51.8

1H18

100

$402,000

$57,000

60.6

1H19

$265,000

$48,300

29.4

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

104

david howell

Washington, DC Review In the first half of 2019 the real estate market in Washington, DC performed much as it did in the first half of 2018, with stable sales and modest overall price appreciation. The District has had the best market in the metro area for several years, and that continues to be the case. The supply of homes in every price category under $1,000,000 is just one and half months or less, and no other area jurisdiction can make that claim. DC also has the highest average sales price at $705,000 for the first half of the year, slightly more than Arlington County, Virginia and more than $100,000 higher than any other local area. That is an enormously positive sign – and also the reason the market has cooled a bit. While Washington, DC has been experiencing home price appreciation between 5% and 7% over the past five years, it was just over 1% in the first half of this year. Those previous levels of appreciation were not sustainable for the long run and a gentle easing of the price accelerator was both inevitable and healthy. Prices that get too high, too fast seem great for sellers but can ultimately lead to a rapid and painful market adjustment. This moderation in prices, combined with lower mortgage interest rates will help DC settle into a “normal” market that benefits buyers and sellers alike. Perhaps the biggest change in The District in the first half of the year is the change in the inventory of homes on the market. Every suburban jurisdiction has fewer homes on the market than last year – and in the case of Arlington and Alexandria, Virginia that reduction has been on the order of 50%. Yet in DC, inventory is actually up about 9%. That, too, is a healthy sign, because it has had historically low inventory for the past five years with very tight supply. Washington needed more homes on the market to help ease the upward pressure on home prices, and that is precisely what is happening. Again, this is not a major shift, but one that is indicative of a slowly evolving market. With total sales up 1.4% and average days on the market up just one day compared to the first half of 2018, the real estate market in Washington, DC is poised for a strong second half of the year.

David Howell CIO, Executive Vice President & Principal Broker of DC & MD Offices o. +1 202.552.5610 dhowell@mcenearney.com

105

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

summary report of

Washington, DC # of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

20001

375

393

4.80%

$710,911

$748,195

5.24%

98.9%

98.2%

-0.71%

35.2

39.8

20002 & 20003

830

796

-4.10%

$713,758

$754,211

5.67%

99.9%

99.0%

-0.90%

29.2

34.0

1,019

1,063

4.32%

$682,753

$673,197

-1.40%

98.7%

98.5%

-0.20%

37.3

36.8

20007 & 20008

440

452

2.73%

$1,206,450

$1,050,117

-12.96%

95.6%

96.9%

1.36%

50.2

46.3

20011 & 20012

514

567

10.31%

$638,488

$661,639

3.63%

99.2%

98.3%

-0.91%

38.0

37.9

20015 & 20016

374

386

3.21%

$995,154

$1,025,205

3.02%

98.5%

97.9%

-0.61%

42.9

44.5

20017 & 20018

264

300

13.64%

$562,875

$568,520

1.00%

98.1%

97.7%

-0.41%

37.3

44.7

20019, 20020 & 20032

633

544

-14.06%

$304,250

$339,479

11.58%

98.1%

97.9%

-0.20%

42.5

45.5

20024

105

119

13.33%

$536,640

$433,062

-19.30%

98.6%

0.00%

40.4

34.2

4,588

4,653

1.42%

$697,871

$705,054

1.03%

98.4%

98.1%

-0.30%

38.4

39.8

20005, 20006, 20009, 20010, 20036 & 20037

Washington, DC

# of units sold

avg sp vs . lp

avg sold price

avg dom

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

% CHG

1H18

1H19

Detached Homes

655

661

0.92%

$1,050,395

$1,048,279

-0.20%

97.1%

96.8%

-0.31%

41.4

45.3

Attached Homes

1,673

1654

-1.14%

$765,571

$806,122

5.30%

98.9%

98.8%

-0.10%

35.2

35.3

Condominiums

2,260

2338

3.45%

$545,585

$536,517

-1.66%

98.5%

98.3%

-0.20%

39.9

41.4

Market Share by Type - 2019 First Half Detached

Attached

Condominiums

Market Share by Price - 2019 First Half $0-$299,999

$300,000-$499,999

$750,000-$999,999

14.21%

50.25%

$500,000-$749,999

$1M-$1.49M

524

$1.5M+

257 518

1,345

779 35.55% 1,230

DCDC312592 242 14th St SE

20001 LOGAN, PENN QUARTER, SHAW

Condominiums

Attached Homes

Detached Homes

DCDC402254 301 Massachusetts Ave NW #804

109

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$749,495

1.0

1H19

$1,750,000

$1,200,000

49.0

1H18

130

$2,050,000

$420,000

31.1

1H19

$2,285,000

$410,000

35.6

1H18

262

$1,499,000

$265,000

44.3

1H19

274

$1,700,000

$245,000

34.8

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

20002 & 20003 BROOKLAND, CAPITOL HILL, ECKINGTON, NAVY YARD

Condominiums

Attached Homes

Detached Homes

DCDC312592 242 14th St SE

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$2,150,000

$303,000

29.5

1H19

$2,300,000

$275,000

21.9

1H18

451

$3,900,000

$288,982

31.1

1H19

471

$2,375,000

$251,750

27.4

1H18

337

$1,400,000

$134,900

38.1

1H19

343

$1,925,000

$157,500

32.1

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

110

20005, 20006, 20009, 20010, 20036 & 20037 ADAMS MORGAN, DUPONT, COLUMBIA HEIGHTS

Condominiums

Attached Homes

Detached Homes

DCDC401440 3220 Park Pl NW

111

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$2,100,000

$580,000

30.3

1H19

$4,100,000

$1,500,000

243.3

1H18

154

$2,775,000

$490,500

25.4

1H19

157

$4,380,000

$450,000

36.1

1H18

905

$3,500,000

$136,920

38.8

1H19

859

$4,369,745

$38,200

36.1

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

20007 & 20008 GEORGETOWN, KALORAMA, NORTH CLEVELAND PARK, FOREST HILLS

Condominiums

Attached Homes

Detached Homes

DCDC422990 3254 Jones Ct NW

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

$8,750,000

$775,000

56.8

1H19

$9,000,000

$865,000

66.0

1H18

137

$4,900,000

$640,000

47.1

1H19

133

$5,250,000

$695,000

40.4

1H18

249

$3,150,000

$132,000

43.0

1H19

227

$8,000,000

$176,925

50.3

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

112

20011 & 20012 BRIGHTWOOD, SHERIDAN FRIENDSHIP HEIGHTS

Condominiums

Attached Homes

Detached Homes

DCDC402142 4840 7th St NW

113

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

132

$1,650,000

$373,000

45.3

1H19

118

$2,137,000

$304,000

34.1

1H18

292

$1,399,900

$280,000

35.7

1H19

274

$1,132,000

$310,000

38.6

1H18

143

$959,000

$147,000

35.4

1H19

122

$909,000

$110,000

40.4

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

20015 & 20016 AU PARK, CHEVY CHASE, CLEVELAND PARK, SPRING VALLEY

Condominiums

Attached Homes

Detached Homes

DCDC419344 3314 45th St NW

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

190

$4,750,000

$700,000

33.7

1H19

187

$6,050,000

$560,000

28.4

1H18

$2,400,000

$634,999

32.4

1H19

$1,875,000

$685,000

41.5

1H18

154

$1,530,000

$170,000

61.1

1H19

155

$1,675,000

$132,000

60.8

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

114

20017 & 20018 BROOKLAND, LANGDON

Condominiums

Attached Homes

Detached Homes

1009962662 3708 24th St NE

115

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

118

$1,075,000

$330,000

47.7

1H19

$1,200,000

$294,500

38.8

1H18

125

$875,000

$292,000

43.9

1H19

118

$885,000

$290,000

32.0

1H18

$800,000

$140,000

40.1

1H19

$744,000

$109,000

46.6

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

20019, 20020 & 20032 ANACOSTIA, BENING, CONGRESS HEIGHTS

Condominiums

Attached Homes

Detached Homes

1008119838 412 Woodcrest Dr SE #A

Number of Units Sold

Highest Sold Price

Lowest Sold Price

Avg Days on Market

142

$715,000

$101,000

55.3

1H19

152

$1,100,000

$120,000

49.7

1H18

317

$547,000

$150,000

39.0

1H19

385

$540,000

$120,000

38.3

1H18

$500,000

$30,000

53.8

1H19

$465,000

$19,000

47.9

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

116

20024 SOUTHWEST, SW WATERFRONT

1008688568 715 G St SW

Condominiums

Attached Homes

Detached Homes

Number of Units Sold

117

Highest Sold Price

Lowest Sold Price

Avg Days on Market

1H19

1H18

$1,070,000

$535,000

55.5

1H19

$2,700,000

$135,000

65.7

1H18

113

$1,400,000

$138,000

33.1

1H19

$2,700,000

$135,000

38.6

1H18

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

DCDC403854 2360 Champlain St NW #2.1

mcenearney associates

Luxury Listings Showcase

217 S FAIRFAX ST | $5,499,000

820 HERBERT SPRINGS RD | $4,450,000

MLS# VAAX233488 6 Bedrooms | 6 Full & 1 Half Baths

MLS# 1000063245 4 Bedrooms | 5 Full & 1 Half Baths

301 S SAINT ASAPH ST | $3,950,000

1201 KEY DR | $3,450,000

MLS# VAAX235654 6 Bedrooms | 3 Full & 1 Half Baths

MLS# VAAX237796 6 Bedrooms | 7 Full Baths

Alexandria, VA 22314

119

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Alexandria, VA 22308

Alexandria, VA 22302

mcenearney associates

Luxury Listings Showcase

209 S SAINT ASAPH ST | $3,450,000

14416 LOYALTY RD | $3,424,000

MLS# VAAX234090 4 Bedrooms | 3 Full & 1 Half Baths

MLS# VALO387402 5 Bedrooms | 8 Full & 3 Half Baths

1306 BALLANTRAE CT | $3,400,000

19729 RIDGESIDE RD | $3,390,000

MLS# VAFX100529 7 Bedrooms | 2 Full Baths

MLS# VALO386178 3 Bedrooms | 2 Full & 1 Half Baths

Alexandria, VA 22314

McLean, VA 22101

Leesburg, VA 20176

Bluemont, VA 20135

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

120

mcenearney associates

Luxury Listings Showcase

3901 BLACKTHORN ST | $3,195,000

9208 HARRINGTON DR | $3,195,000

MLS# MDMC671254 6 Bedrooms | 6 Full & 1 Half Baths

MLS# MDMC671198 6 Bedrooms | 6 Full & 1 Half Baths

638 E CAPITOL ST NE | $2,999,000

3411 N WOODROW ST | $2,599,900

MLS# DCDC403272 6 Bedrooms | 3 Full & 2 Half Baths

MLS# VAAR103724 6 Bedrooms | 6 Full & 2 Half Baths

Chevy Chase, MD 20815

Washingotn, DC 20003

121

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Potomac, MD 20854

Arlington, VA 22207

mcenearney associates

Luxury Listings Showcase

3116 N NELSON ST | $2,524,900

38780 CHELTEN LN | $2,475,000

MLS# VAAR140450 7 Bedrooms | 6 Full & 1 Half Baths

MLS# VALO385602 4 Bedrooms | 4 Full & 4 Half Baths

3304 CUMMINGS LN | $2,395,000

218 S ROYAL ST | $2,300,000

MLS# MDMC663930 5 Bedrooms | 4 Full & 1 Half Baths

MLS# VAAX237018 4 Bedrooms | 4 Full Baths

Arlington, VA 22207

Chevy Chase, MD 20815

Middleburg, VA 20117

Alexandria, VA 22314

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

122

mcenearney associates

Luxury Listings Showcase

3013 N DICKERSON ST | $2,299,000

511 S LEE ST | $2,290,000

MLS# VAAR139106 7 Bedrooms | 5 Full & 1 Half Baths

MLS# VAAX238276 5 Bedrooms | 3 Full & 2 Half Baths

315 S LEE ST | $2,250,000

52 WOLFE ST | $1,995,000

MLS# VAAX235682 5 Bedrooms | 2 Full & 2 Half Baths

MLS# VAAX237736 4 Bedrooms | 3 Full & 1 Half Baths

Arlington, VA 22207

Alexandria, VA 22314

123

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Alexandria, VA 22314

mcenearney associates

Luxury Listings Showcase

1007 BRYAN POND CT | $1,990,000

3827 VILLAGE PARK DR | $1,899,000

MLS# VAFX1068342 5 Bedrooms | 5 Full & 2 Half Baths

MLS# MDMC661680 6 Bedrooms | 6 Full & 1 Half Baths

14943 FINEGAN FARM DR | $1,895,000

2320 N VERNON ST | $1,850,000

MLS# MDMC655112 6 Bedrooms | 6 Full & 2 Half Baths

MLS# VAAR140580 5 Bedrooms | 4 Full & 1 Half Baths

McLean, VA 22102

Darnestown, MD 20874

Chevy Chase, MD 20815

Arlington, VA 22207

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

124

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Luxury Listings Showcase

8609 BROOK DR | $1,795,000

819 RIVERGATE PL | $1,749,000

MLS# VAFX1052016 5 Bedrooms | 6 Full & 1 Half Baths

MLS# VAAX234788 3 Bedrooms | 4 Full & 1 Half Baths

221 N SAINT ASAPH ST | $1,695,000

2226 N KENSINGTON ST | $1,625,000

MLS# VAAX227114 3 Bedrooms | 2 Full & 1 Half Baths

MLS# VAAR153276 5 Bedrooms | 5 Full & 1 Half Baths

McLean, VA 22102

Alexandria, VA 22314

125

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

Alexandria, VA 22314

Arlington, VA 22205

mcenearney associates

Luxury Listings Showcase

1700 CLARENDON BLVD #128 | $1,625,000

2742 N LEXINGTON ST | $1,600,000

MLS# VAAR151116 2 Bedrooms | 2 Full & 1 Half Baths

MLS# VAAR148828 5 Bedrooms | 4 Full & 1 Half Baths

11104 PRINCE EDWARD CT | $1,550,000

7307 LINGANORE CT | $1,510,000

MLS# VAFX1062694 6 Bedrooms | 5 Full & 1 Half Baths

MLS# VAFX1054316 5 Bedrooms | 5 Full & 1 Half Baths

Arlingotn, VA 22209

Oakton, VA 22124

Arlington, VA 22207

McLean, VA 22102

MCENEARNEY ASSOCIATES 2019 FIRST HALF REVIEW MARKET REPORT

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Leadership Management Team

Maureen McEnearney Dunn

David Howell

Dave Hawkins

Candice Bower

President

Executive Vice President Chief Information Officer Principal Broker, DC & MD

Executive Vice President Managing Broker, Alexandria Principal Broker, VA

Executive Vice President Managing Broker, Leesburg & Middleburg

Michael Day

Andy Hill

Glenn Lewis

Jon Wolford

Executive Vice President Managing Broker, Alexandria

Executive Vice President Managing Broker, DC & MD

Executive Vice President Managing Broker, Arlington

Executive Vice President Managing Broker, McLean

Deniz Artemel

Trudy McCullough

Mike McEnearney

Vice President, Professional Development

Vice President Director, Relocation

Executive Vice President Director, Property Management

market report

Glossary

MDMC663930 3304 Cummings Ln

Active Listings The number of listings for sale which are currently being marketed yet do not yet have a purchase agreement. Days on Market The number of days a settled home was on the market before it got a ratified contract. Average Sales Price The average price for which a property sold. Number of Units Sold The number of properties that have closed. 1H18 First half of 2018 1H19 First half of 2019 Average Original List Price vs. List Price Ratio The percentage of the original list price - before reductions - that the buyer ultimately paid for the property.

Total Volume of Sales Prices Original List Price to Sales Price Ratio = Total Volume of Original List Prices

14th Street Office 1803 14th Street, NW, Washington, DC 20009 202.903.2200 | 866.792.8975

Alexandria Office 109 S. Pitt Street, Alexandria, VA 22314 703.549.9292 | 800.549.9299

Arlington Office 4720 Lee Highway, Arlington, VA 22207 703.525.1900 | 800.826.1612

Kensington Office 3804 Howard Avenue, Kensington, MD 20895 301.979.7270 | 866.762.8975

Leesburg Office 107 N. King Street, Leesburg, VA 20176 703.738.8282 | 800.548.9080

McLean Office 1320 Old Chain Bridge Road, McLean, VA 22101 703.790.9090 | 800.548.9080

Middleburg Office 7 W. Washington Street, Middleburg, VA 20118 540.687.5490 | 800.548.9080

Spring Valley Office 4315 50th Street, NW, Washington, DC 20016 202.552.5600 | 866.762.8975

Vienna Office 374 Maple Avenue, E, #202, Vienna, VA 22180 703.839.8200 | 800.548.9080