TTR Sotheby’s International Realty Announces 2012 Sales of $1.258 Billion

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Leading real estate firm grows closed sales volume by 51%; sets new price records.

TTR Sotheby's International Realty - 2012 Company Photo

Our significant growth and record transactions serve as a testament to our exceptional associates; many of the best sales associates in the city carry a TTR Sotheby’s International Realty business card.

TTR Sotheby’s International Realty today announced its 2012 sales in the Mid-Atlantic increased 51% over 2011 to more than $1.258 billion. The firm projects steady growth in 2013 based on strong buyer demand, continued low interest rates and low unemployment across the region.

The luxury real estate firm set several price records this past year, including the following transactions:

  •     The Sale of Penthouse 1801 at Parc Somerset in Chevy Chase, Maryland for $7,950,000. This transaction set a new price record for the most expensive condominium ever sold in the Washington Metropolitan Area and in the State of Maryland. TTR Sotheby’s International Realty was the listing and selling brokerage.
  •     The sale of a historic estate on Foxhall Road in Washington, DC for $7,950,000. This transaction set a new price record for the most expensive sale to transact privately (not listed in the multiple listing system) in the District of Columbia in 2012. TTR Sotheby’s International Realty was the listing and selling brokerage.
  •     The sale of a contemporary condominium at 3303 Water Street NW in Washington, DC’s Georgetown neighborhood for $6,500,000. This transaction set a new price record for the most expensive condominium sold in the District of Columbia in 2012. TTR Sotheby’s International Realty was the listing brokerage.
  •     The sale of a sweeping co-operative apartment at Watergate South in Washington, DC for $3,700,000. This transaction set a new price record for the most expensive co-operative apartment ever sold at the famed Watergate complex. TTR Sotheby’s International Realty was the selling brokerage.

“2012 was a landmark year in our firm’s 24-year history,” said Michael Rankin, Principal and Managing Partner. “Our significant growth and record transactions serve as a testament to our exceptional associates; many of the best sales associates in the city carry a TTR Sotheby’s International Realty business card. Our investments during the economic crisis are also paying dividends, as we see growth from our new Downtown DC office, a 104% increase in traffic to our newly redesigned website and global exposure for our listings via our exclusive partnerships with The Wall Street Journal, International Herald Tribune and Architectural Digest.”

TTR Sotheby’s International Realty participated in over 1,300 transactions in 2012. The firm’s sold listings closed, on average, for 96% of the list price in just 52 days according to data in MRIS, the region’s multiple listing service.

The luxury brokerage firm, which was awarded the prestigious and exclusive Sotheby’s International Realty® affiliation in 2006, continues to attract the region’s top agents. 18 new associates joined the firm in 2012, including well-known industry veterans Christie-Anne Weiss, Christopher Ritzert, Kornelia Stuphan, Sarah Brodsky Miller, Sarah Howard, Jennifer Knoll and Sarah Talcott.

In addition to listing and selling some of the finest residential real estate in the Washington Metropolitan Area, TTR Sotheby’s International Realty further expanded its commitment to the Washington community in 2012 by sponsoring over 50 major community events benefitting important organizations such as CharityWorks, the Corcoran Gallery of Art, the LUNGevity Foundation, McLean Project for the Arts, Teach for America, the Washington Humane Society, Life with Cancer and many others. “Strengthening the health and education of those most in need in our community will continue to be one of our top priorities,“ said Mark Lowham, Principal and Managing Partner. “We are grateful to live and work in the Washington community and understand that we have a significant responsibility to support it.”

The Sotheby’s International Realty network currently has more than 12,100 sales associates located in approximately 620 offices in 45 countries and territories worldwide. TTR Sotheby’s International Realty has been the exclusive affiliate for the Washington, DC metropolitan area since 2006. The 24 year-old firm currently has over 180 agents with offices in Georgetown, Downtown, DC, McLean and Chevy Chase. For more information, visit http://www.ttrsir.com.

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