December 2017 Activity Snapshot

One-Year Change in One-Year Change inClosed Sales Median Sales Price

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101112

Monthly Indicators

- 6.1% + 6.6% + 4.3%One-Year Change in

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime.

Closed SalesMedian Sales PriceAverage Sales PricePending SalesMedian Contract PriceAverage Contract Price

The number of homes for sale, days on market and months of supply were all down in year-over-year comparisons in a majority of the country for the entirety of 2017, as was housing affordability. And although total sales volumes were mixed, prices were consistently up in most markets. Buyers may not benefit from higher prices, but sellers do, and there should be more listing activity by more confident sellers in 2018. At least that would be the most viable prediction for an economic landscape pointing toward improved conditions for sellers.

New Listings were down 0.8 percent to 2,631. Pending Sales decreased 4.2 percent to 2,566. Inventory grew 4.3 percent to 20,242 units.

Prices moved higher as the Median Sales Price was up 6.6 percent to $437,000. Average Sales Price increased 7.0 percent to $532,960. Months Supply of Inventory was up 1.7 percent to 6.0 months.

Unemployment rates have remained low throughout 2017, and wages have shown improvement, though not always to levels that match home price increases. Yet housing demand remained incredibly strong in 2017, even in the face of higher mortgage rates that are likely to increase further in 2018. Home building and selling professionals are both cautiously optimistic for the year ahead. Housing and economic indicators give reason for this optimism, with or without new federal tax legislation.

Homes for Sale

Residential activity in Nassau, Queens and Suffolk counties, comprised of single-family homes, townhomes and co-ops combined. Percent changes are calculated using rounded figures.

Activity OverviewNew Listings

Housing Affordability IndexInventory of Homes for SaleMonths Supply of Inventory

Activity Overview

Key Metrics Historical Sparkbars 12-2016 12-2017 Percent Change YTD 2016 YTD 2017 Percent Change

Key metrics by report month and for year-to-date (YTD) starting from the first of the year.

New Listings 2,652 2,631 - 0.8% 59,226 + 1.2%

Closed Sales 3,387 3,182 - 6.1% 37,746 38,797 + 2.8%

58,549

+ 7.5%

Avg. Sales Price $498,268 $532,960 + 7.0% $494,630 $523,130 + 5.8%

Median Sales Price $410,000 $437,000 + 6.6% $400,000 $430,000

+ 2.7%

Median Contract Price $410,000 $439,000 + 7.1% $400,000 $430,000 + 7.5%

Pending Sales 2,678 2,566 - 4.2% 39,176 40,252

+ 5.7%

Affordability Index 98 97 - 1.0% 101 98 - 3.0%

Average Contract Price $499,845 $535,205 + 7.1% $496,702 $525,148

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime. | 2

--

Months Supply 5.9 6.0 + 1.7% -- -- --

Homes for Sale 19,414 20,242 + 4.3% -- --

12-2015 6-2016 12-2016 6-2017 12-2017

12-2015 6-2016 12-2016 6-2017 12-2017

12-2015 6-2016 12-2016 6-2017 12-2017

12-2015 6-2016 12-2016 6-2017 12-2017

12-2015 6-2016 12-2016 6-2017 12-2017

12-2015 6-2016 12-2016 6-2017 12-2017

12-2015 6-2016 12-2016 6-2017 12-2017

12-2015 6-2016 12-2016 6-2017 12-2017

12-2015 6-2016 12-2016 6-2017 12-2017

12-2015 6-2016 12-2016 6-2017 12-2017

New Listings

Prior Year Percent Change

January 2017 4,387 4,499 -2.5%

February 2017 4,482 4,458 +0.5%

March 2017 6,072 6,163 -1.5%

April 2017 5,667 6,195 -8.5%

May 2017 6,390 6,096 +4.8%

June 2017 5,996 5,946 +0.8%

July 2017 5,452 5,004 +9.0%

August 2017 5,032 4,812 +4.6%

September 2017 4,787 4,804 -0.4%

October 2017 4,535 4,281 +5.9%

November 2017 3,795 3,639 +4.3%

December 2017 2,631 2,652 -0.8%

12-Month Avg 4,936 4,879 +1.2%

Historical New Listings by Month

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime. | 3

A count of the properties that have been newly listed on the market in a given month.

New Listings

2,9962,652 2,631

2015 2016 2017

December

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

1-2005 7-2005 1-2006 7-2006 1-2007 7-2007 1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016 7-2016 1-2017 7-2017

62,29358,549 59,226

2015 2016 2017

Year to Date

+ 1.2%- 11.5% - 0.8% - 6.0%

Closed Sales

Prior Year Percent Change

January 2017 2,812 2,548 +10.4%

February 2017 2,469 2,576 -4.2%

March 2017 2,907 2,672 +8.8%

April 2017 2,505 2,468 +1.5%

May 2017 3,141 2,752 +14.1%

June 2017 3,726 3,625 +2.8%

July 2017 3,537 3,497 +1.1%

August 2017 4,357 4,212 +3.4%

September 2017 3,471 3,571 -2.8%

October 2017 3,489 3,226 +8.2%

November 2017 3,201 3,212 -0.3%

December 2017 3,182 3,387 -6.1%

12-Month Avg 3,233 3,146 +2.8%

Historical Closed Sales by Month

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime. | 4

A count of the actual sales that closed in a given month.

Closed Sales

3,271 3,3873,182

2015 2016 2017

December

1,000

2,000

3,000

4,000

5,000

1-2005 7-2005 1-2006 7-2006 1-2007 7-2007 1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016 7-2016 1-2017 7-2017

34,40337,746 38,797

2015 2016 2017

Year to Date

+ 2.8%+ 3.5% - 6.1% + 9.7%

Median Sales Price

Prior Year Percent Change

January 2017 $418,000 $385,000 +8.6%

February 2017 $395,000 $382,000 +3.4%

March 2017 $403,988 $373,000 +8.3%

April 2017 $415,000 $380,000 +9.2%

May 2017 $410,000 $393,000 +4.3%

June 2017 $440,000 $407,500 +8.0%

July 2017 $449,000 $415,000 +8.2%

August 2017 $445,000 $419,000 +6.2%

September 2017 $430,995 $415,000 +3.9%

October 2017 $439,000 $412,000 +6.6%

November 2017 $432,250 $400,000 +8.1%

December 2017 $437,000 $410,000 +6.6%

12-Month Avg $430,000 $400,000 +7.5%

Historical Median Sales Price by Month

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime. | 5

Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.

Median Sales Price

* Median Sales Price for all properties from January 2017 through December 2017. This is not the average of the individual figures above.

$382,500$410,000

$437,000

2015 2016 2017

December

$325,000

$350,000

$375,000

$400,000

$425,000

$450,000

$475,000

$500,000

1-2005 7-2005 1-2006 7-2006 1-2007 7-2007 1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016 7-2016 1-2017 7-2017

$387,000 $400,000$430,000

2015 2016 2017

Year to Date

+ 7.5%+ 7.2% + 6.6% + 3.4%

Average Sales Price

Prior Year Percent Change

January 2017 $507,780 $479,175 +6.0%

February 2017 $491,647 $481,097 +2.2%

March 2017 $489,350 $469,622 +4.2%

April 2017 $497,889 $461,199 +8.0%

May 2017 $511,094 $494,960 +3.3%

June 2017 $538,655 $514,153 +4.8%

July 2017 $547,751 $503,097 +8.9%

August 2017 $545,120 $507,116 +7.5%

September 2017 $530,021 $500,009 +6.0%

October 2017 $532,732 $517,286 +3.0%

November 2017 $520,174 $483,722 +7.5%

December 2017 $532,960 $498,268 +7.0%

12-Month Avg* $523,130 $494,630 +5.8%

Historical Average Sales Price by Month

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime. | 6

Average sales price for all closed sales, not accounting for seller concessions, in a given month.

Avg. Sales Price

* Average Avg. Sales Price of all properties from January 2017 through December 2017. This is not the average of the individual figures above.

$467,071$498,268

$532,960

2015 2016 2017

December

$400,000

$450,000

$500,000

$550,000

$600,000

$650,000

1-2005 7-2005 1-2006 7-2006 1-2007 7-2007 1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016 7-2016 1-2017 7-2017

$478,570 $494,630$523,130

2015 2016 2017

Year to Date

+ 5.8%+ 6.7% + 7.0% + 3.4%

Pending Sales

Prior Year Percent Change

January 2017 2,308 2,208 +4.5%

February 2017 2,758 2,597 +6.2%

March 2017 3,671 3,562 +3.1%

April 2017 3,542 3,825 -7.4%

May 2017 4,222 3,991 +5.8%

June 2017 4,004 3,992 +0.3%

July 2017 3,534 3,380 +4.6%

August 2017 3,855 3,602 +7.0%

September 2017 3,252 3,247 +0.2%

October 2017 3,453 3,134 +10.2%

November 2017 3,087 2,960 +4.3%

December 2017 2,566 2,678 -4.2%

12-Month Med* 3,354 3,265 +2.7%

Historical Pending Sales by Month

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime. | 7

A count of the properties on which offers have been accepted in a given month.

Pending Sales

2,739 2,678 2,566

2015 2016 2017

December

1,000

2,000

3,000

4,000

5,000

1-2005 7-2005 1-2006 7-2006 1-2007 7-2007 1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016 7-2016 1-2017 7-2017

36,29839,176 40,252

2015 2016 2017

Year to Date

+ 2.7%- 2.2% - 4.2% + 7.9%

Median Contract Price

Prior Year Percent Change

January 2017 $420,000 $385,000 +9.1%

February 2017 $395,000 $385,000 +2.6%

March 2017 $405,000 $375,000 +8.0%

April 2017 $415,000 $381,500 +8.8%

May 2017 $415,000 $395,000 +5.1%

June 2017 $441,500 $409,500 +7.8%

July 2017 $449,000 $415,000 +8.2%

August 2017 $445,000 $420,000 +6.0%

September 2017 $434,450 $415,000 +4.7%

October 2017 $439,350 $414,950 +5.9%

November 2017 $435,000 $400,000 +8.7%

December 2017 $439,000 $410,000 +7.1%

12-Month Avg* $430,000 $400,000 +7.5%

Historical Median Contract Price by Month

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime. | 8

Point at which half of the contracts were signed for more and half were signed for less, not accounting for seller concessions, in a given month.

Median Contract Price

* Median Contract Price of all properties from January 2017 through December 2017. This is not the average of the individual figures above.

$385,000$410,000

$439,000

2015 2016 2017

December

$320,000

$340,000

$360,000

$380,000

$400,000

$420,000

$440,000

$460,000

1-2005 7-2005 1-2006 7-2006 1-2007 7-2007 1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016 7-2016 1-2017 7-2017

$389,000 $400,000$430,000

2015 2016 2017

Year to Date

+ 7.5%+ 6.5% + 7.1% + 2.8%

Average Contract Price

Prior Year Percent Change

January 2017 $509,933 $480,917 +6.0%

February 2017 $492,998 $483,680 +1.9%

March 2017 $490,788 $471,471 +4.1%

April 2017 $500,328 $463,434 +8.0%

May 2017 $514,699 $497,900 +3.4%

June 2017 $540,400 $515,653 +4.8%

July 2017 $549,644 $505,658 +8.7%

August 2017 $547,086 $509,307 +7.4%

September 2017 $531,931 $502,121 +5.9%

October 2017 $535,015 $519,189 +3.0%

November 2017 $521,350 $485,572 +7.4%

December 2017 $535,205 $499,845 +7.1%

12-Month Avg* $525,148 $496,702 +5.7%

Historical Average Contract Price by Month

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime. | 9

Average contract price for all pending sales, not accounting for seller concessions, in a given month.

Average Contract Price

* Average Average Contract Price for all properties from January 2017 through December 2017. This is not the average of the individual figures above.

$468,751$499,845

$535,205

2015 2016 2017

December

$350,000

$400,000

$450,000

$500,000

$550,000

$600,000

1-2005 7-2005 1-2006 7-2006 1-2007 7-2007 1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016 7-2016 1-2017 7-2017

$480,665 $496,702$525,148

2015 2016 2017

Year to Date

+ 5.7%+ 6.6% + 7.1% + 3.3%

Housing Affordability Index

Prior Year Percent Change

January 2017 95 108 -12.0%

February 2017 104 112 -7.1%

March 2017 101 114 -11.4%

April 2017 101 113 -10.6%

May 2017 103 109 -5.5%

June 2017 95 107 -11.2%

July 2017 94 105 -10.5%

August 2017 96 104 -7.7%

September 2017 99 105 -5.7%

October 2017 95 107 -11.2%

November 2017 98 104 -5.8%

December 2017 97 98 -1.0%

12-Month Avg 98 107 -8.4%

Historical Housing Affordability Index by Month

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime. | 10

This index measures housing affordability for the region. For example, an index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.

Affordability Index

11098 97

2015 2016 2017

December

60

70

80

90

100

110

120

130

1-2005 7-2005 1-2006 7-2006 1-2007 7-2007 1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016 7-2016 1-2017 7-2017

109101 98

2015 2016 2017

Year to Date

- 3.0%- 10.9% - 1.0% - 7.3%

Inventory of Homes for Sale

Prior Year Percent Change

January 2017 19,964 22,038 -9.4%

February 2017 20,567 22,186 -7.3%

March 2017 21,688 22,853 -5.1%

April 2017 22,593 23,434 -3.6%

May 2017 23,345 23,808 -1.9%

June 2017 23,939 23,791 +0.6%

July 2017 24,393 23,739 +2.8%

August 2017 23,996 23,209 +3.4%

September 2017 23,821 23,001 +3.6%

October 2017 23,139 22,567 +2.5%

November 2017 22,192 21,686 +2.3%

December 2017 20,242 19,414 +4.3%

12-Month Avg 22,490 22,644 -0.7%

Historical Inventory of Homes for Sale by Month

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime. | 11

The number of properties available for sale in active status at the end of a given month.

Homes for Sale

21,64619,414 20,242

2015 2016 2017

December

10,000

20,000

30,000

40,000

50,000

60,000

1-2005 7-2005 1-2006 7-2006 1-2007 7-2007 1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016 7-2016 1-2017 7-2017

- 10.3% + 4.3%

Months Supply of Inventory

Prior Year Percent Change

January 2017 6.1 7.2 -15.3%

February 2017 6.3 7.2 -12.5%

March 2017 6.6 7.3 -9.6%

April 2017 6.9 7.4 -6.8%

May 2017 7.1 7.4 -4.1%

June 2017 7.3 7.4 -1.4%

July 2017 7.4 7.4 0.0%

August 2017 7.2 7.1 +1.4%

September 2017 7.2 7.1 +1.4%

October 2017 6.9 6.9 0.0%

November 2017 6.6 6.6 0.0%

December 2017 6.0 5.9 +1.7%

12-Month Avg 6.8 7.1 -4.2%

Historical Months Supply of Inventory by Month

Current as of January 10, 2018. All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS®. Report © 2018 ShowingTime. | 12

The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.

Months Supply

7.2

5.9 6.0

2015 2016 2017

December

5.0

10.0

15.0

20.0

25.0

1-2005 7-2005 1-2006 7-2006 1-2007 7-2007 1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016 7-2016 1-2017 7-2017

- 18.1% + 1.7%