Market Report: Year End 2018

Among the many encouraging social and economic indicators from 2018, the November announcement of Amazon HQ2 in the heart of Arlington, Virginia positioned the Washington Metropolitan Area as a major focus in the national real estate conversation — a trend we expect to continue into 2019 and beyond.

While the infusion of additional technology jobs will be highly beneficial over the long term, the benefits to the region’s real estate marketplace are already emerging, with both Arlington and adjoining Alexandria having witnessed significant increases in new contracts following the announcement.

Indeed, Arlington experienced a 76.1% increase in new contracts in December 2018 versus the same period in 2017, followed by a 62.7% increase in Alexandria, sold dollar volume increased by approximately 33% in both jurisdictions. Furthermore,  a significant drop in the number of active new listings suggests upward pressure on prices as we move into the first quarter of 2019.

Explore the 2018 Year End Market Report »

1628 11th Street NW #109, Washington, D.C. presented by Jonathan Taylor of TTR Sotheby’s International Realty.

Elsewhere across the region, 2018 delivered stable growth across most economic indicators, including a 1.1% increase in population, net international migration of approximately 43,000, and over 53,000 new jobs reported.

Of note, jobs in the Federal Government decreased by 3,600 in 2018 while federal procurement in the region increased to $82.6 Billion, the highest level in 10 years and a further signal that the region’s economic engine is fueled increasingly by the private sector.

40889 Stumptown Road, Waterford, Virginia presented by Ron Mangas Jr. of TTR Sotheby’s International Realty.

More jobs and growth continue to strain the transportation infrastructure of the region, with almost 18% of the region’s workforce commuting over 60 minutes per day.

As with comparable metropolitan areas, transportation has a direct influence on the region’s real estate market, with submarkets proximate to job centers and transportation infrastructure continuing to outperform other submarkets in the region.

Of note, new contracts in Washington, D.C.’s Logan Circle and Thomas Circle neighborhoods increased over 33% in December 2018, mirroring the activity in Arlington and Alexandria.

10913 Burbank Drive, Potomac, Maryland presented by Shahab Nasrin of TTR Sotheby’s International Realty.

Momentum is also tangible in Montgomery County, Maryland, where the median sold price increased 4.8% in 2018, while homes sold more rapidly with the average days on market decreasing 20.3%.

In close-in McLean, Virginia sold volume and prices edged upwards slightly. However, the number of new contracts more than doubled in December 2018 versus the same month in 2017.

In Annapolis, Maryland, the 2018 market showed signs of strength, with sold volume increasing 3.1% and median sales prices increasing 4.9%. Properties sold faster with average days on market decreasing 15.1%.

TTR Sotheby’s International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.

An Inspiring Modern Loft in Washington, D.C’s Adams Morgan

Nothing captures the essence of city living better than a loft apartment.

From the soaring ceilings and industrial tones to the large, open floor plans, loft living delivers the efficiency of a traditional apartment or condominium with the added luxury of a large, adaptable canvas perfect for endless expressions of creativity.

Learn more about2328 Champlain Street NW #3401, Washington, D.C. »

Located in Washington, D.C.’s dynamic Adams Morgan neighborhood, this extraordinary modern loft delivers what few downtown residences can match.

Built in 2002, this fabulous 3,200 square foot condominium offers an ideal urban living experience, including soaring ceilings, floor to ceiling windows, and a stunning wrap-around balcony and roof terrace offering spectacular views of the Nation’s Capital.

With two spacious bedrooms and three full bathrooms, this impressive downtown residence features a tranquil upstairs loft and dedicated underground garage parking.

Within walking distance to many of Washington, D.C.’s most desirable landmarks and neighborhoods — including the iconic coffeehouse, Tryst, and the historic Dupont Circle — few residences in the Nation’s Capital offer such charm and convenience.

2328 Champlain Street NW #401, Washington, D.C. is presented by Fleur Howgill of TTR Sotheby’s International Realty.

TTR Sotheby’s International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.

A Stunning New Home in Washington, D.C.’s Charming Kent Neighborhood

From the iconic row homes of Logan Circle to the sophisticated luxury condominiums of West End, Washington, D.C. offers unparalleled access to some of the nation’s finest real estate.

Yet, among the many desirable locations in the Nation’s Capital, few offer the quintessential charm of Washington, D.C’s Kent neighborhood.

Located in Washington, D.C.’s northwest quadrant, Kent represents the best of the city’s residential landscape, with easy access to nearby Georgetown as well as the surrounding Maryland and Virginia suburbs.

Learn more about 3127 51st Place NW, Washington, D.C. »

Delivered in 2018 by CIMA Design and Build, this stunning new home offers over 8,000 square feet of interior living space, including 5 bedrooms and 5 full bathrooms.

Featuring a bright, open floor plan, this extraordinary property features a spectacular gourmet kitchen replete with state of the art appliances, a butler’s pantry, and a charming breakfast nook.

Throughout the expansive main level, a family room with gas fireplace provides an inspiring backdrop for entertaining and intimate gatherings alike.

On the second floor, the large master bedroom includes walk-in closets and an inspiring balcony, while the fabulous master bathroom — featuring marble finishes, a steam shower, and heated floors — offers a sense of peace and serenity delivered only the most luxurious spas.

3127 51st Place NW, Washington, D.C. is presented by Sandra Leiva of TTR Sotheby’s International Realty.

TTR Sotheby’s International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.

Auction House Spotlight: February 2019

The highly-anticipated Impressionist & Modern Art Evening Sale kicks off at 7:00 PM GMT at Sotheby’s Auction House in London, England.

Since 1744, Sotheby’s has been uniting collectors with world-class works of art.

With auctions in ten different salesrooms, including New York, London, Hong Kong, and Paris — as well as online — there’s never been a better time to explore the world of art, design, and culture.

This month, browse a curated selection of the most exciting sales from Sotheby’s auction house. 

The Fine Art Society: 142 Years on New Bond Street

February 5, 2019 | London, England

After 142 years on New Bond Street, The Fine Art Society — one of London’s oldest commercial art galleries — offers a selection of works that capture the history of Bond Street, including pieces from artists, printmakers, and craftsmen such as Jame McNeil Whistler and Sir Peter Blake.

RM Sotheby’s: A Return to Paris

February 6, 2019 | Paris, France

RM Sotheby’s kicks off its 2019 European calendar in spectacular fashion during the world-famous Rétromobile show week in Paris, France. Held at the historic Place Vauban, RM Sotheby’s offers a perfect setting to present the finest sports, racing, and touring cars from both pre- and post-war periods. 

The Impressionist & Modern Art Evening Sale

February 26, 2019 | London, England

Led by a rare and beautiful work from Monet’s celebrated Venice series, Sotheby’s Impressionist & Modern Art Evening Sale features a wonderful selection of paintings and sculptures by leading artists of the late 129th and early 20th centuries, including Giacometti, Picasso, and Chagall. 

TTR Sotheby’s International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.

TTR Sotheby’s International Realty CEO, Mark Lowham, named to 2019 Power List

Mark C. Lowham, CEO and Managing Partner of TTR Sotheby’s International Realty.

TTR Sotheby’s International Realty is pleased to announce Mark C. Lowham has been named once again as one of the 200 most influential people in real estate, according to the 2019 Swanepoel Power 200 list.

An annual list of the most powerful people in residential real estate in the United States, The Swanepoel Power 200 is the definitive ranking of the industry’s most influential leaders.

This is the second year in a row in which Lowham has been included on the list.

2019 Swanepoel Power 200: The List of The Most Powerful People in The Residential Real Estate Brokerage Industry in 2019 »

2018 was a banner year for Lowham, CEO and Managing Partner of TTR Sotheby’s International Realty.

In addition to leading TTR Sotheby’s International Realty to its most successful year to date, with over $3.1 Billion in closed sales, Lowham also facilitated the sale of the historic Merrywood estate of McLean, Virginia, which sold for a record $43 Million in 2018, as well as the $62.5 Million listing of The Falls of McLean, Virginia, the former estate of AOL’s Jim Kimsey.

A leader in Washington’s professional and philanthropic communities, Lowham serves as a member of the influential Bright MLS, one of the largest multiple listing services in the United States with close to 100,000 subscribers throughout the Mid-Atlantic, and is widely regarded as one of the most consistent leaders in Washington’s philanthropic community.

A pillar of TTR Sotheby’s International Realty’s ongoing mission, Lowham’s community-driven leadership has earned the firm recognition as one of the region’s most philanthropic companies for six years in a row.

Mark C. Lowham Named Among Washington Business Journal’s Big Winners for 2018 »

“The Washington market continues to capture the attention of the global investment community,” says Lowham. “As a result, we are seeing new records in terms of sale, and the recent announcement regarding Amazon’s HQ2 relocation will further enhance momentum in the Washington region.  In the interim, it is critical that the real estate community continue to lead the communities in which we live and work, both in terms of providing financial resources and volunteer engagement.”

TTR Sotheby’s International Realty Recognized as Leader in Corporate Philanthropy » 

Among the leaders named to the Swanepoel Power 200, the Sotheby’s International Realty brand and Realogy Holdings Corp. placed an industry-leading 32 employees, affiliated brokerages, and independent sales associates, including five of the Top 20 Most Powerful Women Executives.

“Congratulations to all the industry leaders, influencers and individual powerhouses who made this year’s Swanepoel Power 200 list,” said Ryan Schneider, CEO and president, Realogy.

“I am fortunate and proud to get to work with many of them here at Realogy where together across our businesses and brands we work to empower, grow and support our agents and franchisees every day.”

TTR Sotheby’s International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.