Washington, D.C.

Metropolitan Area
LUXURY HOUSING MARKET UPDATE
FEBRUARY 2017

1
 Washington D.C. Metropolitan Area - February 2017
At Long & Foster, our dedication through the years to luxury properties is evidenced by the power of
our Extraordinary Properties brand. With highly-trained, professional sales associates and a
powerful reach, Long & Foster sells more luxury homes throughout the Mid-Atlantic region than our
nearest competitors, by far.

Long & Foster is proud to offer our exclusive

Long & Foster LuxInsight report, designed
solely to keep our clients informed on the latest
luxury market statistics in their local area.
Published monthly, LuxInsight provides a broad
overview of real estate market trends for
luxury properties, including statistics on sale prices,
inventory, housing demand, new listings and more.

Building on our decades-long reputation for

unsurpassed service and industry expertise,
Long & Foster is poised to cater to the distinctive
market of luxury properties. Enhanced through our
exclusive affiliation with Christies International
Real Estate, and our affiliations with Luxury Portfolio
International, and Whos Who in Luxury Real Estate,
our unique luxury marketing programs deliver exceptional value whether youre looking to buy or sell a
luxury home. No other sales associates are better trained or better equipped to help you take
advantage of opportunities in todays market.

If youre in the market to buy or sell an extraordinary home, work with the real estate professionals
who know the market best: Long & Foster!

At A Glance
Homes $1 Million+

Active Inventory New Listings Units Sold Median Sale Price

2,104 745 248 $1,344,950

2, 660 1, 200 600 $1,450, 000

2, 460 1, 000 500

$1,400, 000
2, 260
800 400
2, 060 $1,350, 000

600 300
1, 860
$1,300, 000
400 200
1, 660

$1,250, 000
1, 460 200 100

1, 260 0 0 $1,200, 000

N-14

N-15

N-16
N-16
N-14

N-15

M-14

M-15

M-16
M-14

M-15

M-16
A-14

A-15

A-16

A-14

A-15

A-16
F-14

F-15

F-16

F-17
F-14

F-15

F-16

F-17

N-14

N-15

N-16

N-14

N-15

N-16
M-14

M-15

M-16

M-14

M-15

M-16
A-14

A-15

A-16

A-14

A-15

A-16
F-14

F-15

F-16

F-17

F-14

F-15

F-16

F-17

Up 15.0% Up 26.1% Up 30.5% No Change

Vs. Year Ago Vs. Year Ago Vs. Year Ago Vs. Year Ago

2
 Washington D.C. Metropolitan Area - February 2017
Inventory Price Ranges
Compared to last February, the total
number of homes more than $1 Million
2M - 5M
available this month was higher by 15.0% 3.41%

and higher by 30.3% compared to

February 2015. Total $1M +
Inventory 13.73%
$1M - 2M
9.71% 5M+
Active inventory this February was 7.2% 0.61%
higher than the previous months supply
of available inventory.
Active Inventory
.
Homes $1 Million+
3,000

2,500

2,551
2,549
2,529
2,467

2,465

2,461
2,445

2,443

2,443
2,400

2,384
2,365

2,292
2,287
2,274
2,268

2,263
2,206

2,198
2,188
2,000
2,166

2,104
2,094

2,038
2,013

1,962
1,912
1,913

1,898

1,829
1,720
1,718

1,500
1,716
1,615
1,595
1,520
1,486

1,000

500

0
Oct-14

Oct-15

Oct-16
Sep-14

Sep-15

Sep-16
Dec-14

Dec-15
Jan-15

Jan-16
Feb-16

Dec-16
Jan-17
Feb-17
Feb-14

Feb-15
Apr-14

Apr-15

Apr-16
Nov-14

Nov-15

Nov-16
May-14
Mar-14

Mar-15

May-15

Mar-16

May-16
Jul-14

Jul-15

Jul-16
Jun-14

Jun-15

Jun-16

Aug-16
Aug-14

Aug-15

New Listings & New Contracts Active Inventory

Homes $1 Million+ .
Versus Previous Years
New Listings New Contracts Homes $1 Million+

2,500
1,200

1,000 Feb-14 2,000

454 Feb-17 2,104
Feb-16 745 1,829
800 1,500
591 1,615
Feb-15
600 524 1,000
400
500
200 269 296
230 369 0
0 Feb-15 Feb-16 Feb-17
Oct-14

Oct-16
Oct-15
Feb-14

Feb-15

Feb-17
Feb-16
Dec-14

Dec-15

Dec-16
Apr-14

Apr-15

Apr-16
Aug-14

Aug-15

Aug-16
Jun-14

Jun-16
Jun-15

3
 Washington D.C. Metropolitan Area - February 2017
This months units sold for homes more than $1 Units Sold
Million was higher than at this time last year, an Versus Previous Years .
increase of 30.5% versus last February and an Homes $1 Million+
increase of 40.1% versus February of 2015. 300
250
200 248
There was an increase of 6.4% in luxury units sold
150 177 190
in February compared to January of this year. 100
50
0
.
Units Sold
Feb-15 Feb-16 Feb-17

600 Homes $1 Million+

546
500
459

400
428
425

413

411
395
393
385
384

357
300

334
322
304

304

299
297

294
287

287
274
273
272

268
258

258
256

248
245
200

233
210

200

193

190
181

177

166

100

0
Sep-14
Oct-14

Sep-15
Oct-15

Sep-16
Oct-16
Feb-14

Jan-15
Feb-15

Jan-16
Feb-16

Jan-17
Feb-17
Dec-14

Dec-15

Dec-16
Apr-14

Apr-15

Apr-16
Mar-14

Mar-15

Mar-16
May-14

Nov-14

May-15

Nov-15

May-16

Nov-16
Jul-14

Jul-15

Jul-16
Aug-14

Aug-15

Aug-16
Jun-14

Jun-15

Jun-16

Recent Selected Luxury Sales

Homes $1 Million+

Sale Price Long & Foster

Final List Final Sale as % of Represented
Sold Date City Zip Code Price Price List Price DOM Buyer Seller
February 23, 2017 Washington 20007 $4,300,000 $4,500,000 104.7% 1
February 17, 2017 Washington 20008 $2,700,000 $2,801,000 103.7% 37
February 15, 2017 Chevy Chase 20815 $2,800,000 $2,800,000 100.0% 1
February 23, 2017 Potomac 20854 $2,795,000 $2,670,000 95.5% 54
February 27, 2017 Bethesda 20817 $2,795,000 $2,650,000 94.8% 33
February 24, 2017 Bethesda 20814 $2,500,000 $2,500,000 100.0% 1
February 1, 2017 Herndon 20171 $2,850,000 $2,460,000 86.3% 1
February 28, 2017 Washington 20007 $2,250,000 $2,250,000 100.0% 15
February 10, 2017 Bethesda 20817 $2,395,000 $2,250,000 93.9% 219
February 28, 2017 Bethesda 20817 $2,249,950 $2,138,000 95.0% 107

4
 $1,150,000
$1,200,000
$1,250,000
$1,300,000
$1,350,000
$1,400,000
$1,450,000

$500,000,000

$100,000,000
$200,000,000
$300,000,000
$400,000,000
$600,000,000
$700,000,000
$800,000,000
$900,000,000

$0
Feb-14 Feb-14 $1,275,000
Mar-14 Mar-14 $1,320,000
Apr-14 Apr-14 $1,295,000
May-14

Feb-14
Jun-14 May-14 $1,275,000

$278,159,562
Jul-14 Jun-14 $1,295,000
Aug-14 Jul-14 $1,280,000
Sep-14
Aug-14 $1,300,000
Oct-14
Nov-14 Sep-14 $1,299,450
Dec-14 Oct-14 $1,325,000
Jan-15
Nov-14 $1,331,147
Feb-15
Mar-15 Dec-14 $1,350,000

Feb-15
Apr-15 Jan-15 $1,405,000

$266,499,485
May-15
Feb-15 $1,295,000
Jun-15

Total Dollar
Jul-15 Mar-15 $1,284,500
Aug-15 Apr-15 $1,294,500
Sep-15
May-15 $1,275,000
Oct-15
Nov-15 Jun-15 $1,265,000

Homes $1 Million+
more than $1 Million was $1,344,950, similar

The current median sales price is higher by 2.7%

than in January.
In February, the median sales price for homes

compared to the same time last year.

Dec-15 Jul-15 $1,299,000

Jan-16 Aug-15 $1,337,378
Feb-16
Mar-16 Sep-15 $1,325,000

Feb-16
Homes $1 Million+

Apr-16 Oct-15 $1,304,900

. Volume Sold

$307,630,070
May-16 Nov-15 $1,287,500
Jun-16
$1,260,000
$1,280,000
$1,300,000
$1,320,000
$1,340,000
$1,360,000

Median Sales Price

Jul-16 Dec-15 $1,360,000

Aug-16 Jan-16 $1,325,000
Sep-16 Feb-16 $1,347,000
Oct-16
Nov-16 Mar-16 $1,345,000
Feb-15
$1,295,000

Dec-16 Apr-16 $1,300,000

Feb-17
Jan-17

$417,042,549
May-16 $1,260,000
.

Feb-17
Jun-16 $1,310,000
Jul-16 $1,275,000
Feb-16

Aug-16 $1,308,148
$1,347,000

Sep-16 $1,315,500
Homes $1 Million+

Oct-16 $1,249,000
Versus Previous Years

Nov-16 $1,295,500
Washington D.C. Metropolitan Area - February 2017
Median Sales Price

Dec-16 $1,312,500
Feb-17
$1,344,950

Jan-17 $1,309,000
Feb-17 $1,344,950

February was 35.6%

month one year ago.

higher than the same

5
Total Volume sold this
 Washington D.C. Metropolitan Area - February 2017
In February, the average sale Sale Price as % of List Price
price for homes more than $1 Homes $1 Million+
100%
Million was 96.9% of the average
96.9%
list price, which is 0.3% higher 98%

than at this time last year. 96%

96.6%
96.4%
94% 95.5%
This month, the average number
92%
of days on market was 72, lower
90%
than the average last year, which

Oct-15
Oct-14

Oct-16
Dec-14

Dec-15

Dec-16
Feb-15

Feb-17
Feb-14

Feb-16
Apr-14

Apr-15

Apr-16
Jun-14
Aug-14

Aug-15

Jun-16
Aug-16
Jun-15
was 73, a decrease of 1.4%.

Days on Market
Homes $1 Million+
120

97 95
100

72 73 76
80 69 71
66 69 72
65
77 60 57 60
72 56 74 53 72
60 52 50 51 69
48 65
62 61 63 60
56 59
55
40 49 49 46
41
20

0
Oct-14

Oct-15

Oct-16
Sep-14

Sep-15

Sep-16

Dec-16
Feb-14

Dec-14

Feb-15

Dec-15

Feb-16

Feb-17
Jan-15

Jan-16

Jan-17
Apr-14

Apr-15

Apr-16
Nov-14

Nov-15

Nov-16
Jul-15

Jul-16
Mar-14

May-14

Jul-14

Mar-15

May-15

Mar-16

May-16
Jun-14

Jun-15

Jun-16
Aug-14

Aug-15

Aug-16

Months of. Supply

In February, there were Homes $1 Million+
12
8.5 months of supply
10
available, compared to
9.6 in February of 2016. 8

That is a decrease of 6
11.5% versus a year ago. 4

2
10.3
5.9
5.4
5.6
6.9
8.9
8.6
9.6
5.4
7.9
9.1
7.4
7.4
6.2
5.4
5.7
7.3

8.3
7.5
5.7
8.4
8.5
8.2
8.2
7.0

9.1
8.8
7.5
5.8

9.6
8.9
7.1
6.2
4.7
6.2
5.6
9.2

0
Sep-14
Oct-14

Sep-16
Oct-16
Sep-15
Oct-15
Dec-14

Dec-16
Dec-15
Feb-14

Feb-15

Feb-17
Jan-15

Feb-16

Jan-17
Apr-14

Apr-15

Jan-16

Apr-16
May-14

Nov-14

May-15

Nov-16
Mar-14

Jul-14

Mar-15

Nov-15

May-16

Jul-16
Jul-15

Mar-16
Jun-14

Jun-15

Jun-16
Aug-14

Aug-16
Aug-15

6
 Washington D.C. Metropolitan Area - February 2017
References & Definitions
WASHINGTON D.C. METROPOLITAN AREA: LISTING SOURCE, REPORTING AREA, & DEFINITION
Based on data supplied by Metropolitan Regional Information Systems (MRIS) and its member Association(s) of REALTORS, who are
not responsible for its accuracy. Does not reflect all activity in the marketplace.
Counties & cities included in this area are: District of Columbia; Arlington, Clarke, Fairfax, Fauquier, Loudoun, Prince William,
Spotsylvania, Stafford, Warren Counties and Alexandria, Fairfax, Falls Church, Fredericksburg, Manassas, Manassas Park Cities in
V irginia; Calvert, Charles, Prince Georges, Frederick, Montgomery Counties in Maryland; Jefferson County in West V irginia.
Analysis dates all regions are February 1, 2014 through February 28, 2017.

Contacts & Disclaimers

MEDIA CONTACT
Vicki Bendure, Bendure Communications
Email: Vicki@bendurepr.com
Phone: (540) 687-3360

CREATED BY
Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst

DISCLAIMER
"Information contained in this report is based on data provided by the local area Multiple Listing Service and its member
Association(s) of REALTORS. No representation, expressed or implied should be taken from information herein. Neither
these organizations nor Long & Foster Real Estate, Inc. guarantee or are in any way responsible for the accuracy of these
results, which do not reflect all activity in the marketplace. For more information regarding your specific market, contact
one of Long & Fosters knowledgeable and experienced sales associates. Analysis dates are February 1, 2014 through
February 28, 2017. Information contained in this report is not limited to transactions done by Long & Foster Real Estate,
Inc. The data reported is solely for residential real estate transactions.

Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does
not constitute an opinion of Long & Foster Real Estate, Inc.

# 1 Seller of Luxury Home in Mid-Atlantic based on data provided by local area Multiple Listing Services and their
member Associations of REALTORS . For more information regarding your specific market, contact one of Long & Fosters
knowledgeable and experienced sales associates. Analysis dates are February 1, 2014 through February 28, 2017".

Material appearing in this report may be reproduced or copied without permission. Please use the following
acknowledgement for citation:

Source: Long & Foster Real Estate, Inc. and also cite the appropriate MLS.