ttr sotheby's international realty's 2015 mid-year market report - jennifer knoll

9001 CONGRESSIONAL COURT, POTOMAC MD | LISTED FOR $5,200,00010105 IRON GATE RD, POTOMAC MD | LISTED FOR $3,850,0003309 Macomb Street NW, Washington DC

MID-YEAR 2015

MARKET REPORTWASHINGTON, DC MARYLAND VIRGINIA

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

3309 Macomb Street NW, Washington DC

TTRSIR.COM2

Cleveland Park continues to benefit from a spring market which seems to have extended all the way through summer. There has been a substantial increase in listings coming to market and selling during this period when compared with 2014.

By August 2014, only 21 single family homes in historic Cleveland Park had settled. So far in 2015, 30 properties in the historic district have closed. This is a nearly 50% increase. This is even more substantial than the increase seen in the broader market in the metropolitan region which has seen an increase of pending sales of almost 14% over last year.

The increase might appear to be good news for buyers and not for sellers, but it appears that so far this year both buyers and sellers are benefitting in the robust Cleveland Park market. While inventory increased, prices continued to climb in 2015. In 2014 the average sales price of homes in historic Cleveland Park was $1,955,724. To date in 2015, the average list price in $2,036,013, an increase of just over 4%. Sale prices are averaging over 99% of list price- outperforming the District of Columbia’s 96.7% average.

In all of 2014, there were 11 sales in Cleveland Park that were over two million dollars. With a third of the year still left, there have been 10 sales over two million dollars. The inventory of homes in Historic Cleveland Park that sell for under one million dollars remains extremely limited. There were seven in 2014. Despite an inventory increase of nearly 50%, there have only been five homes that have sold for under one million dollars in Cleveland Park, making Cleveland Park one of the most expensive neighborhoods in the city.

TTR Sotheby’s International Realty continues to lead the markets in which we are active - across all price points. At the heart of this growth and regardless of price point, as a company we continue to focus on providing our clients with the highest levels of service coupled with exceptional integrity. As the leading TTR Sotheby’s agent in Cleveland Park, I am devoted to using the company’s unmatched marketing platform, my community contacts, and sales techniques to help homeowners in Cleveland Park reach and even surpass their goals when selling their home. I am equally committed to helping homebuyers find the home of their dreams. This tenacity is essential in Cleveland Park where more than 15% of homes are sold before they ever reach the market. Many of these homes have owners who want to protect their privacy. For them the Sotheby’s Private Placement program is the most discrete and profitable way to sell their home. It is essential for any buyer looking to purchase in Cleveland Park that they have an agent who has deep knowledge of the neighborhood listings that may never reach the market.

I am grateful for the trust so many of you continue to place in me and welcome your inquiries. Thank you.

Jennifer KnollVice President, TTR Sotheby’s International Realty

MID-YEAR 2015 TTRSIR MARKET REPORT 3

DOWNTOWN1506 14th Street NW Washington, DC 20005202 234 3344

CHEVY CHASE5454 Wisconsin AvenueChevy Chase, MD 20815301 967 3344

McLEAN6723 Whittier AvenueMcLean, VA 22101703 319 3344

ALEXANDRIA400 S Washington StreetAlexandria, VA 22314703 310 6800

GEORGETOWN1206 30th Street NWWashington, DC 20007202 333 1212

Cleveland Park, Washington, DC

TTRSIR.COM4

WASHINGTON, DCStatistics for single family home sales across various neighborhoods of Washington, DC.

3101 Highland Place NW, Washington DC

AMERICAN UNIVERSITY Q2 2014 Q2 2015 %

UNITS SOLD 18 31 72%

AVG SOLD PRICE $998,460 $980,652 -2%

DAYS ON MARKET 7 11 57%

CLEVELAND PARK* Q2 2014 Q2 2015 %


AVG SOLD PRICE $2,008,476 $2,036,013 1%


CAPITOL HILL Q2 2014 Q2 2015 %


AVG SOLD PRICE $1,106,331 $1,046,210 -5%

DAYS ON MARKET 37 19 -49%

DUPONT Q2 2014 Q2 2015 %

UNITS SOLD 11 9 -18%

AVG SOLD PRICE $3,162,682 $1,803,962 -43%


GEORGETOWN Q2 2014 Q2 2015 %


AVG SOLD PRICE $2,257,881 $2,318,735 3%


CHEVY CHASE Q2 2014 Q2 2015 %


AVG SOLD PRICE $1,092,096 $1,088,100 -.5%

DAYS ON MARKET 14 19 35.71%

Source: MRIS, 4/1/2015-6/30/2015. Data deemed reliable, but not guaranteed.

*Historic Cleveland Parkthrough 8/17/2015


3314 Ordway Street NW, Washington DC

FOREST HILLS Q2 2014 Q2 2015 %

UNITS SOLD 6 6 0%

AVG SOLD PRICE $1,124,167 $1,618,333 44%


GLOVER PARK/BURLEITH Q2 2014 Q2 2015 %


AVG SOLD PRICE $928,479 $999,785 8%


SPRING VALLEY Q2 2014 Q2 2015 %


AVG SOLD PRICE $2,028,991 $1,481,208 -27%


WESLEY HEIGHTS Q2 2014 Q2 2015 %

UNITS SOLD 13 14 8%

AVG SOLD PRICE $1,939,914 $1,172,282 -40%


MASS. AVE HEIGHTS Q2 2014 Q2 2015 %


AVG SOLD PRICE $2,191,000 0 -100%


MOUNT PLEASANT Q2 2014 Q2 2015 %


AVG SOLD PRICE $1,002,678 $944,950 -6%


KALORAMA Q2 2014 Q2 2015 %

UNITS SOLD 7 12 71%

AVG SOLD PRICE $2,406,646 $3,889,667 62%


LOGAN Q2 2014 Q2 2015 %

UNITS SOLD 17 17 0%

AVG SOLD PRICE $1,390,594 $1,154,327 -17%



TTRSIR.COM6

VIRGINIAStatistics for single family home sales across various neighborhoods of Northern Virginia.

4736 Neptune Drive, Alexandria VA

ARLINGTON Q2 2014 Q2 2015 %


AVG SOLD PRICE $868,243 $899,414 4%


McLEAN Q2 2014 Q2 2015 %


AVG SOLD PRICE $1,325,114 $1,258,492 -5%


FALLS CHURCH Q2 2014 Q2 2015 %


AVG SOLD PRICE $651,459 $671,711 3%


ALEXANDRIA Q2 2014 Q2 2015 %


AVG SOLD PRICE $737,093 $732,228 -1%


GREAT FALLS Q2 2014 Q2 2015 %


AVG SOLD PRICE $1,284,380 $1,208,304 -6%


VIENNA Q2 2014 Q2 2015 %


AVG SOLD PRICE $865,627 $829,552 -4%




MARYLANDStatistics for single family home sales across various neighborhoods of Maryland.

8 Quincy Street, Chevy Chase MD

6308 Orchid Drive, Bethesda MD

BETHESDA Q2 2014 Q2 2015 %


AVG SOLD PRICE $1,110,888 $1,105,723 -.5%


POTOMAC Q2 2014 Q2 2015 %


AVG SOLD PRICE $1,035,726 $946,698 -9%


CHEVY CHASE Q2 2014 Q2 2015 %

UNITS SOLD 85 87 2%

AVG SOLD PRICE $1,257,145 $1,273,313 1%



TTRSIR.COM8

SOTHEBY’S VIEW AT HOMEOur new Sotheby’s View at Home app for iPad allows you to take a self-guided tour through our New York and London exhibition spaces and to view any artwork in the context of your own home. To learn more about this new innovative technology, visit www.sothebys.com

SOTHEBY’S WINESotheby’s will reveal a collection for auction of the most sought-after wines that has been amassed over the last 20 years. Some highlights include Léoville Las Cases 1985, Ducru Beaucaillou 1996 and Léoville Poyferré 2003.

SOTHEBY’S INTERNATIONAL REALTY In June, we launched our newest publication, which brings together for the fi rst time the world of Sotheby’s and Washington’s fi nest homes. Rich editorial about art, design and Washington’s most extraordinary properties, delivered to your doorstep and your desktop at www.ttrsir.com

SOTHEBY’S INSTITUTE OF ARTSotheby’s Institute of Art abroad encourages students to take their studies across the globe. Students have embarked on their art world adventure in places such as The Vatican and the Great Wall of China.

SOTHEBY’SSOTHEBY’S AUCTION HOUSEOn 22 September, 2015 Sotheby’s London will present the Victory Watch, originally commissioned for Winston Churchill. Churchill said when he received the gift, “I admire so much the care and the quality with which this delicate example of craftsmanship and Swiss precision was realised.” For more info, visit www.sothebys.com


1. 3601 Porter Street NW, Washington, DC 200162. 3319 Rowland Place NW, Washington, DC 200083. 3230 Woodley Road NW, Washington, DC 200084. 3212 Porter Street NW, Washington, DC 200085. 3066 Porter Street NW, Washington DC 20016

6. 3312 Newark Street NW, Washington, DC 20008

JENNIFER KNOLL & TTR SOTHEBY’S INTERNATIONAL REALTY CLEVELAND PARK SALES

1.

4.

5. 6.

3.

2.

TTRSIR.COM10

WASHINGTON, DC

CONDOS & CO-OP SALESSales statistics for Washington, DC

3230 Woodley Road, Washington, DC

HISTORIC CLEVELAND PARK Q2 2014 Q2 2015 %


AVG SOLD PRICE $385,017 $365,864 -5%


WESLEY HEIGHTS/CATHEDRAL Q2 2014 Q2 2015 %


AVG SOLD PRICE $447,040 $480,163 7%


KALORAMA Q2 2014 Q2 2015 %


AVG SOLD PRICE $528,310 $596,897 13%


LOGAN Q2 2014 Q2 2015 %


AVG SOLD PRICE $660,986 $698,807 6%


DOWNTOWN Q2 2014 Q2 2015 %


AVG SOLD PRICE $583,078 $703,682 21%


FOGGY BOTTOM/WEST END Q2 2014 Q2 2015 %


AVG SOLD PRICE $379,213 $375,544 -1%


DUPONT Q2 2014 Q2 2015 %


AVG SOLD PRICE $427,981 $522,056 22%


GEORGETOWN Q2 2014 Q2 2015 %


AVG SOLD PRICE $1,100,555 $1,022,305 -7%




TESTIMONIALS FOR JENNIFER KNOLL

“

“

“

”

”

”

In the spring of 2015, my wife and I asked Jennifer Knoll to handle the sale of our house in the Cleveland Park area. We did this because, in our very first meeting with her, she showed knowledge of the market, professional competence, and the determination to make the process as easy on us as possible. The more we dealt with Jennifer, the more impressed we were. She mapped out a strategy that would be effective with minimum trouble to us, explained it clearly, and carried it out successfully and fast. But she wasn’t finished then. She arranged for the asbestos removal, radon coverage, and termite repair required by law, and scheduled these to minimize the disruption to us. She even had a carpet laid in the three days between our leaving the house and settlement. Through her connection with Sotheby’s top-notch auction house, she obtained their prompt review and acceptance of a few pieces we wished to sell. In short, throughout the process she went the extra mile without our asking, and did it cheerfully and well. We thanked our lucky stars that we had her.

Jennifer is an expert in DC real estate, honest, and extremely hard working. Selling or buying a home is very personal and Jennifer really cares about helping people find the most optimal fit for their desired lifestyle. She is truly exceptional! I would recommend her to anyone without hesitation!

We recently worked with Jennifer Knoll on the sale of our Cleveland Park home and had a wonderful experience from our initial contact to closing. Jennifer gave us great advice on small touch-up projects, developed first-rate marketing materials, organized very well-attended open houses, and managed the contract negotiation like a pro. She is an expert on the Cleveland Park neighborhood, the DC market, pricing, timing, and how to interest serious buyers. We could not be more satisfied and would strongly recommend Jennifer and Sotheby’s to other sellers!

– Madeleine Y & Roger Kirk, Woodley Road

– Stacey & Bryan Sivak, Porter Street

– Lindsey & Brian Toohey, Porter Street

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. ©MMXV Sotheby’s International Realty Affi liates LLC. All Rights Reserved. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affi liates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Offi ce Is Independently Owned And Operated. SIR1

MEDIAN SOLD PRICESOLD DOLLAR VOLUME

WASHINGTON, DC $2,499,448,998 3%

ARLINGTON COUNTY, VA $903,039,332 8%

FAIRFAX COUNTY, VA $4,019,471,810 12%

ALEXANDRIA CITY, VA $1,256,669,955 7%

MONTGOMERY COUNTY, MD $2,874,134,743 9%

YTD % change

$520,500 5%

$556,750 6%

$475,000 3%

$451,400 4%

$400,000 0%

YTD % change

49 -2%

49 32%

50 22%

53 13%

57 21%

YTD % change

AVERAGE DAYS ON MARKET

Clients describe Jennifer as smart, hardworking and extremely loyal. As a Northwest DC resident for more than 18 years, Jennifer is highly committed to serving her neighbors with expert real estate consultations. In addition to being recognized by the Washingtonian Magazine in 2015 as a Top Agent with sales over 20 million last year, Jennifer was voted “Best Agent” for 2015 in the Washington City Paper’s readers poll.

Prior to her successful career in real estate, Jennifer worked as a journalist based in Washington, DC and Tel Aviv, Israel. Jennifer covered fi nance, consumer news, Middle East peace talks, visiting heads of state and the White House. She is married to Justin Kenny, the Foreign and Defense Editor of the PBS NewsHour. She has three children. Her twins daughters attend John Eaton Elementary School and her son is a student at the Sheridan School.

JENNIFER KNOLL+1 202 441 2301 m +1 301 967 3344 [email protected]

ttr sotheby's international realty's 2015 mid-year market report - jennifer knoll

Documents