2013 Luxury Report

YEAR-END 2013

LUXURY REPORT WASHINGTON DC

MARYLAND

VIRGINIA

A COMPREHENSIVE ANALYSIS OF THE RESIDENTIAL REAL ESTATE MARKET IN THE WASHINGTON METROPOLITAN AREA

ttrsir.com

O

n behalf of our team of dedicated professionals at TTR Sotheby’s International Realty, we are pleased to present this comprehensive market summary for the Washington metropolitan area.

Several key factors drove the market in 2013; first, the region faced a notable shortage of inventory as our region added over 20,000 new jobs and more individuals continued to move to the area. At the same time, interest rates remain at historically low levels with 30-year fixed conventional loans available at around 4%. These factors provided upward pressure on prices across most regional markets and diffused the dampening affects of sequestration and the temporary government shutdown. In fact, the median sales price in Washington, DC increased 10% in 2013, and the average days on market dropped by as much as 50% in some local submarkets.

Despite low inventory levels and challenges in the market in 2013, TTR Sotheby’s International Realty continued its robust growth, achieving a 33% increase in sales volume over 2012 and positioning our firm once again as the fastest growing luxury brokerage firm in the region.

As we look ahead to 2014, all indications point to another strong year in the real estate market in the Washington metropolitan area. We continue to add jobs at a healthy pace, and interest rates are poised to remain at historically low levels. As a result, we project existing home sales will retain the healthy gains seen this past year, with continued upward pressure on prices through 2014.

Finally, as the Washington region becomes increasingly connected to the worldwide markets, strong global connections are more important than ever. Our area continues to provide an important destination for wealth being generated in the world’s fastest growing economies.

As the Washington metropolitan area’s exclusive Sotheby’s International Realty firm, we are proudly connected to our distinguished network of over 600 offices in 50 countries around the world and are uniquely positioned to reach the world’s most affluent buyers.

Locally, our goal for 2014 is to continue to provide the highest level of professional services coupled with the highest standards of integrity to our clients across all price ranges. We are grateful for all of you who continue to place your trust in our firm, and we look forward to serving you in the months ahead.

We welcome further inquiries about your local market or specific property and look forward to working with you.

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10411 New Ascot Drive, Great Falls Offered at $7,995,000

Georgetown 1206 30th Street NW Washington, DC 20007 202 333 1212

Downtown 1506 14th Street NW Washington, DC 20005 202 234 3344

Chevy Chase 5454 Wisconsin Avenue Chevy Chase, MD 20815 301 967 3344

McLean 6723 Whittier Avenue McLean, VA 22101 703 319 3344

Alexandria 400 S. Washington Street Alexandria, VA 22314 703 310 6800足

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WASHINGTON DC Statistics for single family home sales for the neighborhoods of Washington, DC.

2012

2013

2012

70

74

6

182

179

$874,754

$937,414

7

$930,088

$975,975

5

39

13

-67

41

30

-27

2012

2013

2012

2013

52

46

-12

53

32

$1,498,258

$1,495,958

0

$1,502,673

$1,487,988

-1

89

76

-15

44

62

41

2012

2013

2012

2013

108

125

16

42

60

$904,994

$961,619

6

$1,480,131

$1,546,843

5

36

34

-6

63

23

-63

3150 South Street NW #2E, Washington Sold for $3,400,000

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2013 -2

-40

43

98%

Average Sold to Original List Price in Washington, DC

2104 R Street NW #5, Washington Offered at $2,750,000

$2,948,243,000 Billion Sold in Washington, DC in 2013

2012

2013

2013

2012

2013

68

76

12

70

70

$928,454

0

$983,287

6

$1,306,114

$1,306,436

0

44

30

-32

69

75

9

2012

2013

2012

2013

28

47

68

33

34

3

$2,045,608

$2,169,427

6

$1,473,202

$1,468,217

0

144

72

-50

80

34

-58

2012

2013

2012

2013

30

34

13

68

47

-31

32

34

6

$1,458,633

$1,486,007

2

$920,097

$1,018,344

11

$1,314,121

$1,275,644

-3

65

84

29

43

21

-51

127

56

-56

2012

2013

2012

2013

127

138

$1,631,036 $1,871,324 75

YEAR-END 2013

2012

108

2012

2013

7

59

59

0

4

16

$808,028

$885,631

10

$1,580,000

46

23

11

-52

117

7

75

$1,306,000 -17 15

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SOTHEBY’S SOTHEBY’S AUCTION HOUSE Our November Contemporary Art Evening sale in New York achieved $380.7 Million USD, the highest total in the Sotheby’s history.

SOTHEBY’S INT’L REALTY Sierra Sotheby’s International Realty recently represented the sale of Tommy Hilfiger co-founder Joel Horowitz’s 210-acre Lake Tahoe estate for $48 Million USD.

SOTHEBY’S WINE This year, art and wine collided when Sotheby’s Wine received a new vintage of Dom Pérignon’s limited edition champagnes with labels created by artist Jeff Koons, with cases starting at $2,028 USD. Photo courtesy of Dom Pérignon.

SOTHEBY’S DIAMONDS Leading the largest jewelery sale in history, the Pink Star diamond brought $83 Million USD, a new high for any jewel at auction.

SOTHEBY’S INSTITUTE OF ART Sotheby’s Institute of Art has a network of more than 6,000 alumni working in the art markets around the world.

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TTR SOTHEBY’S INTERNATIONAL REALTY

TTR Sotheby’s International Realty sells 3 exceptional properties a day in the Washington metropolitan area

The Friary on the Severn Offered at $28,800,000

ttrsir.com YEAR-END 2013

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Since January 2013,TTR Sotheby’s International Realty represented twice as many buyers and sellers of Northern Virginia’s most luxurious homes sold for $4.5 million and above than our closest competitor.*

VIRGINIA

Statistics for single family home sales for the neighborhoods of Virginia

212 South Alfred Street, Alexandria Offered at $1,395,000

ARLINGTON

2012

2013

%

GREAT FALLS

UNITS SOLD

1391

1402

18

UNITS SOLD

$736,941

$808,383

3

AVG SOLD PRICE

DAYS ON MARKET

54

40

-5

DAYS ON MARKET

FALLS CHURCH

2012

2013

%

MCLEAN

947

988

4

$565,288

$619,909

10

AVG SOLD PRICE

49

35

-29

DAYS ON MARKET

AVG SOLD PRICE

UNITS SOLD AVG SOLD PRICE DAYS ON MARKET

UNITS SOLD

2012

2013

%

OLD TOWN

2012

2013

%

210

260

8

UNITS SOLD

365

380

4

$1,137,210

$1,223,470

1

AVG SOLD PRICE

$739,202

$798,961

8

106

99

-12

DAYS ON MARKET

63

45

-29

2012

2013

%

VIENNA

551

562

2

$1,189,250 94

$1,317,920 11 84

-11

UNITS SOLD AVG SOLD PRICE DAYS ON MARKET

2012

2013

%

767

804

5

$733,558

$786,234

7

62

44

-29

97% *Source: MRIS, Sales 1/1/13+ $4.5m+ in Alexandria, Arlington and Fairfax Counties. Data deemed reliable, but not guaranteed.

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Average Sold to Original List Price in Virginia in 2013

MARYLAND Statistics for single family home sales for the neighborhoods of Maryland 2012

2013

799

908

14

$942,947

$1,030,656

9

60

49

-18

2012

2013

228

254

$1,255,394 $1,219,467 66

46

2012

2013

11

483

559

-3

$956,158

$1,082,512

13

69

-20

-30

86

16

94%

Average Sold to Original List Price in Maryland in 2013

4616 Drummond Avenue, Chevy Chase Sold for $4,100,000

YEAR-END 2013

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CONDO + CO-OP SALES

In 2013, TTR Sotheby's International Realty represented 80% of the sales of condominiums sold for $3 million and above in Washington, DC.

Sales statistics for Washington DC, Virginia and Maryland Washington, DC

2012

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2013 26

35

44

$425,528

$395,102

1

89

71

-20

2012

2013

162

116

$355,807

$355,807

0

69

31

-55

-28

2012

2013

153

175

14

$446,431

$491,820

10

54

34

-37

2012

2013

214

270

26

$442,775

$440,713

0

32

30

-6

2012

2013

149

186

25

$653,894

$574,435

-12

105

81

-23

2012

2013

3150 South Street NW #PH1F, Washington Sold for $5,200,000

10

70

77

$758,883

$812,135

7

73

85

16

2012

2013

136

218

$566,899

$574,452

1

64

41

-36

60

2012

2013

201

253

26

$595,384

$631,129

0

34

29

-6

2012

2013

1615 Queen Street N #M401 Arlington Sold for $1,100,000

5630 Wisconsin Avenue #302 Chevy Chase Sold for $3,500,000

Virginia

Maryland

2012

2013

2012

2013

96

73

-24

1396

1586

14

274

331

21

$446,733

$441,781

-1

$405,799

$419,856

3

$372,425

$395,120

6

112

67

-40

54

34

-37

66

47

-29

2012

2013

2012

2013

2012

2013

33

27

-18

191

198

4

121

156

$574,619

$478,998

-17

$395,306

$412,078

4

$606,493

$654,428

8

48

34

-29

39

33

-15

68

43

-37

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SIGNIFICANT SALES - 2013 TTR Sotheby's International Realty represented the highest sale in the Washington region in 2013.

626 Chain Bridge Road, McLean

SOLD PRICE

3301 N Street NW, Washington

SOLD PRICE

$12,000,000

Address Undisclosed, McLean, VA*

$5,000,000

3301 N Street NW, Washington, DC*

$7,950,000

2861 Woodland Drive NW, Washington, DC

$4,850,000

12929 Catoctin Hollow Road, Thurmont, MD

$7,400,000

576 Innsbruck Avenue, Great Falls, VA*

$4,500,000

2424 Kalorama Road NW, Washington, DC

$6,200,000

1614 20th Street NW, Washington, DC*

$4,100,000

4616 Drummond Avenue, Chevy Chase, MD*

$5,570,000

1001 Dogue Hill Lane, McLean, VA

$4,100,000

3150 South Street NW #PH1E, Washington, DC*

$5,495,000

2910 Edgevale Terrace NW, Washington, DC

$4,100,000

505 Innsbruck Avenue, Great Falls, VA

$5,250,000

3836 Woodley Road NW, Washington, DC

$3,825,000

2107 Wyoming Avenue NW, Washington, DC

$5,200,000

2910 South Street NW #PH1F, Washington, DC

$3,600,000

407 Chain Bridge Road, McLean, VA

$5,175,000

626 Chain Bridge Road, McLean, VA*

$3,500,000

5630 Wisconsin Avenue #302, Chevy Chase, MD*

$5,100,000

405/507 Chain Bridge Road, McLean, VA

$3,475,000

8120 Spring Hill Farm Drive, McLean, VA

1001 Dogue Hill Lane, McLean

2910 Edgevale Terrace NW, Washington

* Participated on both sides of the transaction

All information obtained is deemed reliable but not guaranteed

YEAR-END 2013

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628 East Capitol Street NE, Washington Sold for $2,600,000