50
Monthly Indicators A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS September 2012 Quick Facts Market Overview 2 New Listings 3 Pending Sales 4 Closed Sales 5 Days On Market Until Sale 6 Median Sales Price 7 Average Sales Price 8 9 10 Housing Affordability Index 11 Inventory of Homes for Sale 12 Months Supply of Inventory 13 Housing Supply Overview Report 14 All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | 1 + 8.9% Change in Median Sales Price Most housing metrics should follow their usual, autumnal movements – higher inventory and days on market, fewer sales, lower prices. That applies only to month-to-month seasonal trends; most indicators should still show improvement on a year-over-year basis. As you already know, all real estate is local – down to the city neighborhood, suburban development and exurban lot. Let's dive into some local figures. New Listings in the Northeast Florida region increased 4.6 percent to 2,204. Pending Sales were up 39.9 percent to 1,870. Inventory levels shrank 30.2 percent to 8,789 units. Prices moved higher. The Median Sales Price increased 8.9 percent to $135,000. Days on Market was down 5.2 percent to 109 days. The supply- demand balance stabilized as Months Supply of Inventory was down 38.6 percent to 5.5 months. Not to get negative like a political TV ad, but sluggish job growth, persistently high gas prices, drought-induced spikes in food prices and other global events could threaten consumer confidence. The Fed's mortgage purchases drove Freddie Mac's average 30-year fixed-rate mortgage survey to an all-time low of 3.40 percent. Employment growth remains critical, providing the jobs that will stimulate housing demand and push home prices up to help beleaguered homeowners that have been financially unable to sell for several years. - 30.2% Change in Inventory - 8.3% Change in Closed Sales Area breakouts of 29 submarkets begin after page 20. Click on desired metric to jump to that page. Percent of Original List Price Received Residential real estate activity comprised of single-family properties, townhomes, and condominiums combined. Percent of Properties Sold Over List Price

Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

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Page 1: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Monthly Indicators A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS

September 2012 Quick Facts

Market Overview 2New Listings 3Pending Sales 4Closed Sales 5Days On Market Until Sale 6Median Sales Price 7Average Sales Price 8

910

Housing Affordability Index 11Inventory of Homes for Sale 12Months Supply of Inventory 13Housing Supply Overview Report 14

All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | 1

+ 8.9%Change in

Median Sales Price

Most housing metrics should follow their usual, autumnal movements – higher inventory and days on market, fewer sales, lower prices. That applies only to month-to-month seasonal trends; most indicators should still show improvement on a year-over-year basis. As you already know, all real estate is local – down to the city neighborhood, suburban development and exurban lot. Let's dive into some local figures.

New Listings in the Northeast Florida region increased 4.6 percent to 2,204. Pending Sales were up 39.9 percent to 1,870. Inventory levels shrank 30.2 percent to 8,789 units.

Prices moved higher. The Median Sales Price increased 8.9 percent to $135,000. Days on Market was down 5.2 percent to 109 days. The supply-demand balance stabilized as Months Supply of Inventory was down 38.6 percent to 5.5 months.

Not to get negative like a political TV ad, but sluggish job growth, persistently high gas prices, drought-induced spikes in food prices and other global events could threaten consumer confidence. The Fed's mortgage purchases drove Freddie Mac's average 30-year fixed-rate mortgage survey to an all-time low of 3.40 percent. Employment growth remains critical, providing the jobs that will stimulate housing demand and push home prices up to help beleaguered homeowners that have been financially unable to sell for several years.

- 30.2%Change inInventory

- 8.3%Change in

Closed Sales

Area breakouts of 29 submarkets begin after page 20.Click on desired metric to jump to that page.

Percent of Original List Price Received

Residential real estate activity comprised of single-family properties, townhomes, and condominiums combined.

Percent of Properties Sold Over List Price

Page 2: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Market OverviewKey market metrics for the current month and year-to-date.

Key Metrics Historical Sparklines 9-2011 9-2012 +/- YTD 2011 YTD 2012 +/-

All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | Click for Cover Page | 2

9.0

224 - 1.8%

- 30.2%

- 38.6%

8,789

5.5

222

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

- 3.5%

1,337 1,870 + 39.9% 13,211 15,259 + 15.5%

20,7632,108 2,204 + 4.6% 21,519

1,395 1,279 - 8.3% 12,742

New Listings

Pending Sales

Closed Sales

Housing Affordability Index

Days on Market Until Sale

Median Sales Price

Average Sales Price

Percent of OriginalList Price Received

Percent of PropertiesSold Over List Price

+ 0.6%

--

$170,222 $179,755 + 5.6%

+ 3.0%87.9% 90.5%

228

12,590

115 109

224

$124,000 $135,000

$183,938 + 7.2%

89.1% 91.4%

$171,633

14.9% 17.4%

+ 8.9% $127,900

+ 16.6% 14.4% 15.8% + 9.6%

12,923 + 1.4%

$134,900

- 5.2% 121 113 - 6.8%

+ 5.5%

+ 2.7%

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

Page 3: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

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

MonthPrior Year

Current Year

+/–

October 2,345 2,167 -7.6%

November 1,994 1,840 -7.7%

December 1,957 1,665 -14.9%

January 2,750 2,430 -11.6%

February 2,280 2,374 +4.1%

March 2,682 2,442 -8.9%

April 2,341 2,360 +0.8%

May 2,326 2,301 -1.1%

June 2,471 2,260 -8.5%

July 2,222 2,144 -3.5%

August 2,339 2,248 -3.9%

September 2,108 2,204 +4.6%

12-Month Avg 2,318 2,203 -5.0%

All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | Click for Cover Page | 3

2,710

2,108 2,204

2010 2011 2012

September

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical New Listing Activity

27,621

21,519 20,763

2010 2011 2012

Year To Date

-3.5% -22.2% +4.6% -22.1%

Page 4: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Pending Sales A count of the properties on which contracts have been written in a given month.

MonthPrior Year

Current Year

+/–

October 1,123 1,343 +19.6%

November 1,274 1,248 -2.0%

December 1,181 1,232 +4.3%

January 1,246 1,370 +10.0%

February 1,382 1,514 +9.6%

March 1,714 1,711 -0.2%

April 1,457 1,664 +14.2%

May 1,549 1,804 +16.5%

June 1,587 1,718 +8.3%

July 1,442 1,706 +18.3%

August 1,497 1,902 +27.1%

September 1,337 1,870 +39.9%

12-Month Avg 1,399 1,590 +13.7%

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1,228 1,337

1,870

2010 2011 2012

September

750

1,000

1,250

1,500

1,750

2,000

2,250

2,500

2,750

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Pending Sales Activity

12,902 13,211

15,259

2010 2011 2012

Year To Date

+15.5% +8.9% +39.9% +2.4%

Page 5: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Closed Sales A count of actual sales that have closed within a given month.

MonthPrior Year

Current Year

+/–

October 1,122 1,246 +11.1%

November 1,118 1,246 +11.4%

December 1,468 1,445 -1.6%

January 1,043 1,017 -2.5%

February 1,212 1,248 +3.0%

March 1,529 1,540 +0.7%

April 1,528 1,449 -5.2%

May 1,450 1,599 +10.3%

June 1,622 1,685 +3.9%

July 1,416 1,510 +6.6%

August 1,547 1,596 +3.2%

September 1,395 1,279 -8.3%

12-Month Avg 1,371 1,405 +2.7%

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1,303 1,395

1,279

2010 2011 2012

September

500

700

900

1,100

1,300

1,500

1,700

1,900

2,100

2,300

2,500

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Closed Sales Activity

12,506 12,742 12,923

2010 2011 2012

Year To Date

+1.4% +7.1% -8.3% +1.9%

Page 6: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month.

MonthPrior Year

Current Year

+/–

October 110 125 +13.4%

November 114 119 +4.0%

December 114 119 +3.9%

January 119 120 +0.9%

February 120 121 +1.0%

March 123 118 -4.7%

April 123 115 -6.6%

May 119 107 -10.1%

June 128 104 -18.8%

July 120 117 -2.7%

August 121 110 -8.6%

September 115 109 -5.2%

12-Month Avg 119 115 -3.8%

All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | Click for Cover Page | 6

102

115 109

2010 2011 2012

September

40

50

60

70

80

90

100

110

120

130

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Days on Market Until Sale

101

121 113

2010 2011 2012

Year To Date

-6.8% +12.4% -5.2% +19.9%

Page 7: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month.

MonthPrior Year

Current Year

+/–

October $139,050 $127,900 -8.0%

November $140,900 $131,000 -7.0%

December $130,000 $126,500 -2.7%

January $122,000 $115,000 -5.7%

February $120,000 $119,900 -0.1%

March $124,063 $130,000 +4.8%

April $125,500 $136,003 +8.4%

May $130,000 $134,000 +3.1%

June $135,364 $148,493 +9.7%

July $130,000 $139,000 +6.9%

August $137,000 $140,000 +2.2%

September $124,000 $135,000 +8.9%

12-Month Med $129,900 $132,500 +2.0%

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$130,000 $124,000

$135,000

2010 2011 2012

September

$100,000

$120,000

$140,000

$160,000

$180,000

$200,000

$220,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Median Sales Price

$136,000 $127,900

$134,900

2010 2011 2012

Year To Date

+5.5% -4.6% +8.9% -6.0%

Page 8: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

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

MonthPrior Year

Current Year

+/–

October $169,419 $163,297 -3.6%

November $184,124 $163,266 -11.3%

December $170,906 $166,622 -2.5%

January $154,625 $154,843 +0.1%

February $162,482 $156,863 -3.5%

March $158,744 $172,959 +9.0%

April $168,135 $181,969 +8.2%

May $171,269 $183,331 +7.0%

June $183,496 $198,767 +8.3%

July $175,988 $176,119 +0.1%

August $178,556 $193,678 +8.5%

September $171,633 $183,938 +7.2%

12-Month Avg $171,160 $176,217 +3.0%

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$165,747 $171,633 $183,938

2010 2011 2012

September

$140,000

$160,000

$180,000

$200,000

$220,000

$240,000

$260,000

$280,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Average Sales Price

$168,702 $170,222 $179,755

2010 2011 2012

Year To Date

+ 5.6% + 3.6% + 7.2% + 0.9%

Page 9: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Percent of Original List Price Received

MonthPrior Year

Current Year

+/–

October 87.2% 89.1% +2.2%

November 87.4% 89.8% +2.8%

December 86.3% 89.0% +3.1%

January 86.3% 88.9% +3.0%

February 86.8% 88.9% +2.4%

March 87.0% 89.7% +3.1%

April 87.1% 90.2% +3.6%

May 88.0% 91.0% +3.5%

June 87.9% 91.4% +4.0%

July 89.1% 90.8% +2.0%

August 88.9% 91.5% +2.9%

September 89.1% 91.4% +2.7%

12-Month Avg 87.6% 90.2% +3.0%

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Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.

87.3% 89.1% 91.4%

2010 2011 2012

September

84%

86%

88%

90%

92%

94%

96%

98%

100%

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Percent of Original List Price Received

89.2% 87.9% 90.5%

2010 2011 2012

Year To Date

+3.0% +2.0% +2.7% -1.5%

Page 10: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Percent of Properties Sold Over List Price

MonthPrior Year

Current Year

+/–

October 13.9% 14.0% +0.4%

November 10.9% 16.6% +52.0%

December 13.9% 15.1% +8.2%

January 14.5% 14.0% -3.5%

February 15.0% 14.8% -1.2%

March 14.9% 14.9% +0.2%

April 13.3% 14.8% +10.8%

May 15.2% 17.3% +14.5%

June 13.8% 16.3% +17.9%

July 15.8% 16.1% +2.3%

August 12.7% 15.7% +23.5%

September 14.9% 17.4% +16.6%

12-Month Avg 14.1% 15.7% +11.0%

Percent of closed sales that sold for more than the most recent list price.

All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | Click for Cover Page | 10

14.6% 14.9%

17.4%

2010 2011 2012

September

6%

8%

10%

12%

14%

16%

18%

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Percent of Properties Sold Over List Price

15.5% 14.4%

15.8%

2010 2011 2012

Year To Date

+9.6% +2.2% +16.6% -6.9%

Page 11: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Housing Affordability Index

MonthPrior Year

Current Year

+/–

October 204 220 +7.5%

November 203 218 +7.2%

December 213 225 +5.6%

January 216 243 +12.4%

February 217 235 +8.2%

March 215 219 +2.2%

April 213 214 +0.4%

May 211 218 +2.9%

June 207 203 -2.3%

July 212 216 +2.2%

August 208 215 +3.3%

September 228 224 -1.8%

12-Month Avg 212 221 +4.0%

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

215 228 224

2010 2011 2012

September

100

120

140

160

180

200

220

240

260

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Housing Affordability Index

207 222 224

2010 2011 2012

Year To Date

+0.6% +5.9% -1.8% +7.1%

Page 12: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Inventory of Homes for Sale The number of properties available for sale in active status at the end of the month.

MonthPrior Year

Current Year

+/–

October 16,055 12,451 -22.4%

November 15,563 12,167 -21.8%

December 14,570 11,318 -22.3%

January 14,644 11,323 -22.7%

February 14,357 11,357 -20.9%

March 14,082 11,199 -20.5%

April 13,853 11,154 -19.5%

May 13,651 10,852 -20.5%

June 13,393 10,562 -21.1%

July 13,095 10,123 -22.7%

August 12,815 9,511 -25.8%

September 12,590 8,789 -30.2%

12-Month Avg 14,056 10,901 -22.5%

All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | Click for Cover Page | 12

16,346

12,590

8,789

2010 2011 2012

September

5,000

7,000

9,000

11,000

13,000

15,000

17,000

19,000

21,000

23,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Inventory of Homes for Sale

-30.2% -23.0%

Page 13: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Months Supply of Inventory 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.

MonthPrior Year

Current Year

+/–

October 11.9 8.8 -25.9%

November 11.4 8.6 -24.5%

December 10.6 8.0 -24.8%

January 10.6 7.9 -25.2%

February 10.4 7.9 -24.0%

March 10.2 7.8 -24.1%

April 10.3 7.7 -26.0%

May 10.0 7.3 -26.9%

June 9.7 7.1 -27.0%

July 9.5 6.7 -29.3%

August 9.2 6.2 -33.3%

September 9.0 5.5 -38.6%

12-Month Avg 10.2 7.4 -27.2%

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11.8

9.0

5.5

2010 2011 2012

September

2

4

6

8

10

12

14

16

18

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Months Supply of Inventory

-38.6% -23.9%

Page 14: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

September 2012 Quick Facts

$200,000 to $299,999 New Construction

Pending Sales 14Days on Market Until Sale 15Median Sales Price 16Percent of Original List Price Received 17Percent of Properties Sold Over List Price 18Inventory of Homes for Sale 19Months Supply of Inventory 20

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Single-Family

Click on desired metric to jump to that page.

Housing Supply Overview

A RESEARCH TOOL PROVIDED BY THENORTHEAST FLORIDA ASSOCIATION OF REALTORS

+ 20.9% + 16.4% + 16.3%

Price Range With Strongest Sales:

Construction Status With Strongest Sales:

Property Type With Strongest Sales:

Page 15: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total.

By Price Range 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

$149,999 and Below 9,697 10,859 + 12.0% 7,907 9,148 + 15.7% 1,790 1,711 - 4.4%

$150,000 to $199,999 2,568 2,844 + 10.7% 2,414 2,698 + 11.8% 154 146 - 5.2%

$200,000 to $299,999 2,436 2,944 + 20.9% 2,286 2,748 + 20.2% 150 196 + 30.7%

$300,000 to $499,999 1,385 1,668 + 20.4% 1,270 1,565 + 23.2% 115 103 - 10.4%

$500,000 to $999,999 550 586 + 6.5% 479 521 + 8.8% 71 65 - 8.5%

$1,000,000 and Above 153 181 + 18.3% 134 165 + 23.1% 19 16 - 15.8%

All Price Ranges 16,789 19,082 + 13.7% 14,490 16,845 + 16.3% 2,299 2,237 - 2.7%

By Construction Status 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

Previously Owned 14,794 16,760 + 13.3% 12,688 14,691 + 15.8% 2,106 2,069 - 1.8%

New Construction 1,995 2,322 + 16.4% 1,802 2,154 + 19.5% 193 168 - 13.0%

All Property Types 16,789 19,082 + 13.7% 14,490 16,845 + 16.3% 2,299 2,237 - 2.7%

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All Properties Single-Family Condo-Townhouse

9,697

2,568 2,436

1,385 550

153

10,859

2,844 2,944

1,668

586 181

$149,999 and Below

$150,000 to $199,999

$200,000 to $299,999

$300,000 to $499,999

$500,000 to $999,999

$1,000,000 and Above

By Price Range 9-2011 9-2012

14,794

1,995

16,760

2,322

Previously Owned New Construction

By Construction Status 9-2011 9-2012

+ 12.0%

14,490

2,299

16,845

2,237

Single-Family Condo-Townhouse

By Property Type 9-2011 9-2012

+ 10.7% + 20.9% + 20.4% + 18.3% + 16.3% - 2.7% + 13.3% + 16.4% + 6.5%

Page 16: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Days on Market Until Sale

By Price Range 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

$149,999 and Below 112 109 - 2.6% 112 112 - 0.1% 112 95 - 15.2%

$150,000 to $199,999 123 117 - 5.0% 122 114 - 6.7% 132 162 + 23.2%

$200,000 to $299,999 119 113 - 4.8% 117 112 - 4.4% 142 129 - 9.6%

$300,000 to $499,999 132 125 - 5.2% 127 123 - 3.3% 184 154 - 16.5%

$500,000 to $999,999 175 153 - 12.1% 173 146 - 15.7% 187 212 + 13.6%

$1,000,000 and Above 233 213 - 8.6% 232 210 - 9.5% 240 242 + 0.7%

All Price Ranges 119 115 - 3.8% 119 115 - 3.0% 122 110 - 9.6%

By Construction Status 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

Previously Owned 120 115 - 4.2% 119 116 - 2.9% 121 106 - 12.5%

New Construction 117 115 - 1.4% 116 112 - 3.4% 126 158 + 25.3%

All Property Types 119 115 - 3.8% 119 115 - 3.0% 122 110 - 9.6%

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Average number of days between when a property is listed and when an offer is accepted. Based on a rolling 12-month average.

All Properties Single-Family Condo-Townhouse

112 123 119

132

175

233

109 117 113 125

153

213

$149,999 and Below

$150,000 to $199,999

$200,000 to $299,999

$300,000 to $499,999

$500,000 to $999,999

$1,000,000 and Above

By Price Range 9-2011 9-2012

120

117

115

115

Previously Owned New Construction

By Construction Status 9-2011 9-2012

- 2.6%

119

122

115

110

Single-Family Condo-Townhouse

By Property Type 9-2011 9-2012

- 5.0% - 4.8% - 5.2% - 8.6% - 3.0% - 9.6% - 4.2% - 1.4% - 12.1%

Page 17: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Median Sales Price

By Construction Status 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

Previously Owned $119,000 $119,900 + 0.8% $128,650 $126,000 - 2.1% $66,000 $72,000 + 9.1%

New Construction $195,318 $215,733 + 10.5% $199,900 $218,995 + 9.6% $150,000 $163,065 + 8.7%

All Construction Statuses $129,900 $132,500 + 2.0% $140,000 $140,500 + 0.4% $70,000 $77,000 + 10.0%

All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | Click for Cover Page | 16

Median price point for all closed sales, not accounting for seller concessions. Based on a rolling 12-month median.

All Properties Single-Family Detached Condo-Townhouse Attached

$119,000

$195,318

$119,900

$215,733

Previously Owned New Construction

By Construction Status 9-2011 9-2012

$129,900 $140,000

$70,000

$132,500 $140,500

$77,000

All Properties Single-Family Detached Condo-Townhouse Attached

By Property Type 9-2011 9-2012

+ 0.4% + 10.0% + 0.8% + 2.0% + 10.5%

Page 18: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Percent of Original List Price Received

By Price Range 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

$149,999 and Below 86.4% 89.3% + 3.3% 86.0% 88.5% + 2.9% 88.2% 93.2% + 5.7%

$150,000 to $199,999 89.7% 91.7% + 2.2% 89.7% 91.8% + 2.2% 88.9% 89.8% + 0.9%

$200,000 to $299,999 90.3% 92.3% + 2.3% 90.3% 92.5% + 2.4% 88.9% 90.0% + 1.3%

$300,000 to $499,999 89.1% 91.6% + 2.7% 89.4% 91.6% + 2.5% 86.1% 90.3% + 4.9%

$500,000 to $999,999 85.5% 88.8% + 3.9% 85.7% 89.2% + 4.1% 83.9% 85.6% + 2.1%

$1,000,000 and Above 78.5% 81.4% + 3.8% 78.3% 80.8% + 3.2% 80.0% 87.4% + 9.3%

All Price Ranges 87.6% 90.2% + 3.0% 87.6% 90.0% + 2.7% 88.0% 92.3% + 4.9%

By Construction Status 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

Previously Owned 86.8% 89.4% + 3.0% 86.7% 89.0% + 2.7% 87.6% 92.0% + 5.0%

New Construction 93.7% 95.9% + 2.4% 93.9% 96.0% + 2.2% 92.2% 95.3% + 3.3%

All Property Types 87.6% 90.2% + 3.0% 87.6% 90.0% + 2.7% 88.0% 92.3% + 4.9%

All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | Click for Cover Page | 17

Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold, not accounting for seller concessions. Based on a rolling 12-month average.

All Properties Single-Family Condo-Townhouse

86.4%

89.7% 90.3% 89.1%

85.5%

78.5%

89.3%

91.7% 92.3% 91.6%

88.8%

81.4%

$149,999 and Below

$150,000 to $199,999

$200,000 to $299,999

$300,000 to $499,999

$500,000 to $999,999

$1,000,000 and Above

By Price Range 9-2011 9-2012

86.8%

93.7%

89.4%

95.9%

Previously Owned New Construction

By Construction Status 9-2011 9-2012

+ 3.3%

87.6% 88.0%

90.0%

92.3%

Single-Family Condo-Townhouse

By Property Type 9-2011 9-2012

+ 2.2% + 2.3% + 2.7% + 3.8% + 2.7% + 4.9% + 3.0% + 2.4% + 3.9%

Page 19: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Percent of Properties Sold Over List Price

By Price Range 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

$149,999 and Below 18.1% 20.5% + 13.3% 17.7% 19.6% + 10.7% 20.0% 25.4% + 26.8%

$150,000 to $199,999 12.4% 11.7% - 5.9% 12.7% 12.3% - 3.7% 7.4% 1.5% - 80.1%

$200,000 to $299,999 8.2% 9.8% + 18.8% 8.2% 10.1% + 23.1% 8.5% 4.8% - 44.0%

$300,000 to $499,999 6.9% 8.4% + 22.7% 7.1% 8.7% + 23.0% 4.4% 4.1% - 6.0%

$500,000 to $999,999 2.9% 7.2% + 149.4% 3.3% 7.9% + 141.1% 0.0% 1.6% 0.0%

$1,000,000 and Above 0.7% 1.2% + 70.1% 0.8% 1.3% + 70.9% 0.0% 0.0% 0.0%

All Price Ranges 14.1% 15.7% + 11.0% 13.6% 15.1% + 10.4% 16.9% 20.0% + 18.3%

By Construction Status 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

Previously Owned 14.2% 15.4% + 9.0% 13.6% 14.6% + 7.8% 17.7% 21.1% + 18.8%

New Construction 13.6% 17.1% + 25.8% 14.2% 17.8% + 25.5% 7.7% 7.2% - 5.4%

All Property Types 14.1% 15.7% + 11.0% 13.6% 15.1% + 10.4% 16.9% 20.0% + 18.3%

All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | Click for Cover Page | 18

Percent of closed sales that sold for more than the most recent list price. Based on a rolling 12-month average.

All Properties Single-Family Condo-Townhouse

18.1%

12.4%

8.2% 6.9%

2.9%

0.7%

20.5%

11.7% 9.8%

8.4% 7.2%

1.2%

$149,999 and Below

$150,000 to $199,999

$200,000 to $299,999

$300,000 to $499,999

$500,000 to $999,999

$1,000,000 and Above

By Price Range 9-2011 9-2012

14.2% 13.6%

15.4%

17.1%

Previously Owned New Construction

By Construction Status 9-2011 9-2012

+ 13.3%

13.6%

16.9% 15.1%

20.0%

Single-Family Condo-Townhouse

By Property Type 9-2011 9-2012

- 5.9% + 18.8% + 22.7% + 70.1% + 10.4% + 18.3% + 9.0% + 25.8% + 149.4%

Page 20: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Inventory of Homes for Sale The number of properties available for sale in active status at the end of the most recent month. Based on one month of activity.

By Price Range 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

$149,999 and Below 6,421 3,883 - 39.5% 5,693 3,490 - 38.7% 728 393 - 46.0%

$150,000 to $199,999 1,750 1,251 - 28.5% 1,610 1,143 - 29.0% 140 108 - 22.9%

$200,000 to $299,999 1,869 1,530 - 18.1% 1,711 1,401 - 18.1% 158 129 - 18.4%

$300,000 to $499,999 1,328 1,140 - 14.2% 1,174 1,046 - 10.9% 154 94 - 39.0%

$500,000 to $999,999 827 682 - 17.5% 706 598 - 15.3% 121 84 - 30.6%

$1,000,000 and Above 395 303 - 23.3% 364 283 - 22.3% 31 20 - 35.5%

All Price Ranges 12,590 8,789 - 30.2% 11,258 7,961 - 29.3% 1,332 828 - 37.8%

By Construction Status 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

Previously Owned 11,527 7,812 - 32.2% 10,306 7,056 - 31.5% 1,221 756 - 38.1%

New Construction 1,063 977 - 8.1% 952 905 - 4.9% 111 72 - 35.1%

All Property Types 12,590 8,789 - 30.2% 11,258 7,961 - 29.3% 1,332 828 - 37.8%

All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | Click for Cover Page | 19

All Properties Single-Family Condo-Townhouse

6,421

1,750 1,869 1,328

827 395

3,883

1,251 1,530

1,140 682

303

$149,999 and Below

$150,000 to $199,999

$200,000 to $299,999

$300,000 to $499,999

$500,000 to $999,999

$1,000,000 and Above

By Price Range 9-2011 9-2012

11,527

1,063

7,812

977

Previously Owned New Construction

By Construction Status 9-2011 9-2012

- 39.5%

11,258

1,332

7,961

828

Single-Family Condo-Townhouse

By Property Type 9-2011 9-2012

- 28.5% - 18.1% - 14.2% - 23.3% - 29.3% - 37.8% - 32.2% - 8.1% - 17.5%

Page 21: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

Months Supply of Inventory

By Price Range 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

$149,999 and Below 7.9 4.3 - 46.0% 8.6 4.6 - 47.0% 4.9 2.8 - 43.5%

$150,000 to $199,999 8.2 5.3 - 35.5% 8.0 5.1 - 36.5% 10.9 8.9 - 18.6%

$200,000 to $299,999 9.2 6.2 - 32.3% 9.0 6.1 - 31.9% 12.6 7.9 - 37.5%

$300,000 to $499,999 11.5 8.2 - 28.7% 11.1 8.0 - 27.7% 16.1 11.0 - 31.8%

$500,000 to $999,999 18.0 14.0 - 22.6% 17.7 13.8 - 22.1% 20.5 15.5 - 24.2%

$1,000,000 and Above 31.0 20.1 - 35.2% 32.6 20.6 - 36.9% 14.7 12.5 - 14.9%

All Price Ranges 9.0 5.5 - 38.6% 9.3 5.7 - 39.2% 7.0 4.4 - 36.1%

By Construction Status 9-2011 9-2012 Change 9-2011 9-2012 Change 9-2011 9-2012 Change

Previously Owned 9.4 5.6 - 40.2% 9.7 5.8 - 40.9% 7.0 4.4 - 37.0%

New Construction 6.4 5.0 - 21.0% 6.3 5.0 - 20.5% 6.9 5.1 - 25.5%

All Property Types 9.0 5.5 - 38.6% 9.3 5.7 - 39.2% 7.0 4.4 - 36.1%

All data provided by the Northeast Florida Multiple Listing Service. Powered by 10K Research and Marketing. | Click for Cover Page | 20

The inventory of homes for sale at the end of the most recent month, based on one month of activity, divided by the average monthly pending sales from the last 12 months.

All Properties Single-Family Condo-Townhouse

7.9 8.2 9.2 11.5

18.0

31.0

4.3 5.3 6.2 8.2

14.0

20.1

$149,999 and Below

$150,000 to $199,999

$200,000 to $299,999

$300,000 to $499,999

$500,000 to $999,999

$1,000,000 and Above

By Price Range 9-2011 9-2012

9.4

6.4 5.6

5.0

Previously Owned New Construction

By Construction Status 9-2011 9-2012

- 46.0%

9.3

7.0

5.7

4.4

Single-Family Condo-Townhouse

By Property Type 9-2011 9-2012

- 35.5% - 32.3% - 28.7% - 35.2% - 39.2% - 36.1% - 40.2% - 21.0% - 22.6%

Page 22: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 205 247 + 20.5% 1,986 2,051 + 3.3%

Closed Sales 137 135 - 1.5% 1,185 1,310 + 10.5%

Median Sales Price* $146,750 $152,000 + 3.6% $142,575 $151,000 + 5.9%

Percent of Original List Price Received* 89.9% 90.2% + 0.4% 88.5% 90.9% + 2.7%

Percent of Properties Sold Over List Price* 11.2% 14.9% + 33.3% 14.7% 14.4% - 2.3%

Days on Market Until Sale 112 101 - 9.6% 123 106 - 13.6%

Inventory of Homes for Sale 1,125 725 - 35.6% -- -- --

Months Supply of Inventory 8.3 4.4 - 47.1% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Southside / Mandarin /

+ 20.5% - 1.5% + 3.6%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 01 September Year to Date

1,986 2,051

Year to Date 2011 2012

205247

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Southside / Mandarin / Bartram

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,986

1,185

2,051

1,310

New Listings Closed Sales

Year to Date 2011 2012

+ 10.5%+ 3.3%

205

137

247

135

New Listings Closed Sales

September 2011 2012

- 1.5%+ 20.5%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,986

1,185

2,051

1,310

New Listings Closed Sales

Year to Date 2011 2012

+ 10.5%+ 3.3%

205

137

247

135

New Listings Closed Sales

September 2011 2012

- 1.5%+ 20.5%

Page 23: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 261 255 - 2.3% 2,667 2,479 - 7.0%

Closed Sales 228 171 - 25.0% 1,867 1,797 - 3.7%

Median Sales Price* $92,000 $135,750 + 47.6% $97,000 $120,000 + 23.7%

Percent of Original List Price Received* 91.1% 93.6% + 2.8% 88.7% 92.0% + 3.6%

Percent of Properties Sold Over List Price* 18.9% 18.5% - 2.6% 16.4% 17.9% + 8.8%

Days on Market Until Sale 96 93 - 3.4% 114 103 - 9.5%

Inventory of Homes for Sale 1,308 769 - 41.2% -- -- --

Months Supply of Inventory 6.6 3.5 - 46.6% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Southside- 2.3% - 25.0% + 47.6%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

Region 02 September Year to Date

2,667

1,867

2,479

1,797

Year to Date 2011 2012

261228

255

171

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Southside

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

2,667

1,867

2,479

1,797

New Listings Closed Sales

Year to Date 2011 2012

- 3.7%- 7.0%

261228

255

171

New Listings Closed Sales

September 2011 2012

- 25.0%- 2.3%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

2,667

1,867

2,479

1,797

New Listings Closed Sales

Year to Date 2011 2012

- 3.7%- 7.0%

261228

255

171

New Listings Closed Sales

September 2011 2012

- 25.0%- 2.3%

Page 24: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 50 45 - 10.0% 546 465 - 14.8%

Closed Sales 35 32 - 8.6% 242 271 + 12.0%

Median Sales Price* $170,000 $167,500 - 1.5% $178,500 $182,000 + 2.0%

Percent of Original List Price Received* 86.4% 88.9% + 2.9% 86.3% 86.4% + 0.1%

Percent of Properties Sold Over List Price* 2.9% 9.4% + 228.1% 8.5% 6.7% - 21.7%

Days on Market Until Sale 142 97 - 31.7% 146 127 - 13.0%

Inventory of Homes for Sale 331 241 - 27.2% -- -- --

Months Supply of Inventory 12.0 7.7 - 36.1% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Riverside / Avondale / Ortega

- 10.0% - 8.6% - 1.5%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 03 September Year to Date

546465

Year to Date 2011 2012

50

35

45

32

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Riverside / Avondale / Ortega

- 30%

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

546

242

465

271

New Listings Closed Sales

Year to Date 2011 2012

+ 12.0%- 14.8%

50

35

45

32

New Listings Closed Sales

September 2011 2012

- 8.6%- 10.0%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 30%

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

546

242

465

271

New Listings Closed Sales

Year to Date 2011 2012

+ 12.0%- 14.8%

50

35

45

32

New Listings Closed Sales

September 2011 2012

- 8.6%- 10.0%

Page 25: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 148 155 + 4.7% 1,551 1,440 - 7.2%

Closed Sales 116 97 - 16.4% 937 978 + 4.4%

Median Sales Price* $95,250 $103,250 + 8.4% $107,500 $102,000 - 5.1%

Percent of Original List Price Received* 86.0% 87.1% + 1.3% 86.1% 89.5% + 4.0%

Percent of Properties Sold Over List Price* 14.3% 10.4% - 27.1% 14.1% 18.0% + 27.8%

Days on Market Until Sale 121 98 - 18.8% 115 112 - 2.6%

Inventory of Homes for Sale 874 532 - 39.1% -- -- --

Months Supply of Inventory 8.4 4.4 - 48.0% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Arlington / Fort Caroline

+ 4.7% - 16.4% + 8.4%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 04 September Year to Date

1,551 1,440

978

Year to Date 2011 2012

148

116

155

97

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Arlington / Fort Caroline

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,551

937

1,440

978

New Listings Closed Sales

Year to Date 2011 2012

+ 4.4%- 7.2%

148

116

155

97

New Listings Closed Sales

September 2011 2012

- 16.4%+ 4.7%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,551

937

1,440

978

New Listings Closed Sales

Year to Date 2011 2012

+ 4.4%- 7.2%

148

116

155

97

New Listings Closed Sales

September 2011 2012

- 16.4%+ 4.7%

Page 26: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 104 84 - 19.2% 995 887 - 10.9%

Closed Sales 68 38 - 44.1% 516 552 + 7.0%

Median Sales Price* $64,500 $40,000 - 38.0% $54,950 $51,500 - 6.3%

Percent of Original List Price Received* 90.7% 90.4% - 0.3% 87.3% 88.5% + 1.4%

Percent of Properties Sold Over List Price* 17.2% 18.9% + 10.1% 19.2% 20.5% + 6.7%

Days on Market Until Sale 80 90 + 12.8% 102 105 + 2.6%

Inventory of Homes for Sale 555 335 - 39.6% -- -- --

Months Supply of Inventory 9.9 4.5 - 54.4% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Hyde Grove / Murray Hill / Lakeshore / Wesconnett

- 19.2% - 44.1% - 38.0%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 05 September Year to Date

995887

Year to Date 2011 2012

104

6884

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Hyde Grove / Murray Hill / Lakeshore / Wesconnett

- 50%

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

995

516

887

552

New Listings Closed Sales

Year to Date 2011 2012

+ 7.0%- 10.9%

104

6884

38

New Listings Closed Sales

September 2011 2012

- 44.1%- 19.2%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 50%

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

995

516

887

552

New Listings Closed Sales

Year to Date 2011 2012

+ 7.0%- 10.9%

104

6884

38

New Listings Closed Sales

September 2011 2012

- 44.1%- 19.2%

Page 27: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 124 128 + 3.2% 1,298 1,229 - 5.3%

Closed Sales 74 101 + 36.5% 827 830 + 0.4%

Median Sales Price* $83,900 $94,000 + 12.0% $88,500 $90,000 + 1.7%

Percent of Original List Price Received* 84.7% 92.1% + 8.7% 86.5% 90.2% + 4.2%

Percent of Properties Sold Over List Price* 17.8% 19.0% + 6.7% 17.2% 17.1% - 0.4%

Days on Market Until Sale 132 110 - 16.6% 122 105 - 13.8%

Inventory of Homes for Sale 698 430 - 38.4% -- -- --

Months Supply of Inventory 7.8 4.1 - 48.2% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

West Jacksonville+ 3.2% + 36.5% + 12.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

Region 06 September Year to Date

1,298

827

1,229

830

Year to Date 2011 2012

124

74

128

101

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

West Jacksonville

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,298

827

1,229

830

New Listings Closed Sales

Year to Date 2011 2012

+ 0.4%- 5.3%

124

74

128

101

New Listings Closed Sales

September 2011 2012

+ 36.5%+ 3.2%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,298

827

1,229

830

New Listings Closed Sales

Year to Date 2011 2012

+ 0.4%- 5.3%

124

74

128

101

New Listings Closed Sales

September 2011 2012

+ 36.5%+ 3.2%

Page 28: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 129 125 - 3.1% 1,241 1,169 - 5.8%

Closed Sales 60 53 - 11.7% 608 594 - 2.3%

Median Sales Price* $21,400 $26,500 + 23.8% $20,100 $21,000 + 4.5%

Percent of Original List Price Received* 87.1% 91.7% + 5.3% 86.4% 87.7% + 1.5%

Percent of Properties Sold Over List Price* 19.2% 27.1% + 40.8% 18.7% 20.0% + 7.1%

Days on Market Until Sale 107 128 + 20.3% 103 107 + 3.8%

Inventory of Homes for Sale 754 543 - 28.0% -- -- --

Months Supply of Inventory 11.2 7.2 - 35.9% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Springfield / Downtown / Paxon / Trout River South

- 3.1% - 11.7% + 23.8%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 07 September Year to Date

1,241 1,169

Year to Date 2011 2012

129 125

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Springfield / Downtown / Paxon / Trout River South

- 60%

- 50%

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,241

608

1,169

594

New Listings Closed Sales

Year to Date 2011 2012

- 2.3%- 5.8%

129

60

125

53

New Listings Closed Sales

September 2011 2012

- 11.7%- 3.1%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 60%

- 50%

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,241

608

1,169

594

New Listings Closed Sales

Year to Date 2011 2012

- 2.3%- 5.8%

129

60

125

53

New Listings Closed Sales

September 2011 2012

- 11.7%- 3.1%

Page 29: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 30 21 - 30.0% 228 208 - 8.8%

Closed Sales 3 17 + 466.7% 120 114 - 5.0%

Median Sales Price* $102,520 $122,950 + 19.9% $106,500 $120,000 + 12.7%

Percent of Original List Price Received* 74.6% 88.5% + 18.6% 84.9% 89.8% + 5.7%

Percent of Properties Sold Over List Price* 0.0% 12.5% -- 10.7% 11.9% + 11.3%

Days on Market Until Sale 92 91 - 1.5% 121 127 + 5.1%

Inventory of Homes for Sale 151 95 - 37.1% -- -- --

Months Supply of Inventory 12.9 6.0 - 53.6% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Marietta / Whitehouse / Baldwin / Garden St /

Dinsmore

- 30.0% + 466.7% + 19.9%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 08 September Year to Date

228208

Year to Date 2011 2012

30

21

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Marietta / Whitehouse / Baldwin / Garden St / Dinsmore

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

+ 100%

+ 120%

+ 140%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

228

120

208

114

New Listings Closed Sales

Year to Date 2011 2012

- 5.0%- 8.8%

30

3

2117

New Listings Closed Sales

September 2011 2012

+ 466.7%- 30.0%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

+ 100%

+ 120%

+ 140%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

228

120

208

114

New Listings Closed Sales

Year to Date 2011 2012

- 5.0%- 8.8%

30

3

2117

New Listings Closed Sales

September 2011 2012

+ 466.7%- 30.0%

Page 30: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 103 103 0.0% 1,067 1,002 - 6.1%

Closed Sales 60 68 + 13.3% 626 646 + 3.2%

Median Sales Price* $125,000 $116,750 - 6.6% $124,900 $124,000 - 0.7%

Percent of Original List Price Received* 88.4% 89.7% + 1.4% 87.5% 90.4% + 3.3%

Percent of Properties Sold Over List Price* 11.9% 22.7% + 91.6% 14.9% 18.6% + 24.9%

Days on Market Until Sale 139 157 + 13.5% 129 122 - 5.5%

Inventory of Homes for Sale 659 389 - 41.0% -- -- --

Months Supply of Inventory 9.3 4.6 - 50.9% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Jacksonville - North

0.0% + 13.3% - 6.6%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 09 September Year to Date

1,067 1,002

646

Year to Date 2011 2012

103 103

68

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Jacksonville - North

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,067

626

1,002

646

New Listings Closed Sales

Year to Date 2011 2012

+ 3.2%- 6.1%

103

60

103

68

New Listings Closed Sales

September 2011 2012

+ 13.3%0.0%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,067

626

1,002

646

New Listings Closed Sales

Year to Date 2011 2012

+ 3.2%- 6.1%

103

60

103

68

New Listings Closed Sales

September 2011 2012

+ 13.3%0.0%

Page 31: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 46 63 + 37.0% 567 503 - 11.3%

Closed Sales 43 40 - 7.0% 347 293 - 15.6%

Median Sales Price* $192,500 $190,000 - 1.3% $190,000 $200,000 + 5.3%

Percent of Original List Price Received* 90.2% 93.8% + 4.0% 89.1% 92.0% + 3.2%

Percent of Properties Sold Over List Price* 7.1% 12.5% + 75.0% 11.0% 13.7% + 24.4%

Days on Market Until Sale 116 89 - 22.8% 113 119 + 5.7%

Inventory of Homes for Sale 270 206 - 23.7% -- -- --

Months Supply of Inventory 7.0 5.7 - 19.7% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Fleming Island Area

+ 37.0% - 7.0% - 1.3%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 12 September Year to Date

567

347

503

Year to Date 2011 2012

46 43

63

40

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Fleming Island Area

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

567

347

503

293

New Listings Closed Sales

Year to Date 2011 2012

- 15.6%- 11.3%

46 43

63

40

New Listings Closed Sales

September 2011 2012

- 7.0%+ 37.0%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

567

347

503

293

New Listings Closed Sales

Year to Date 2011 2012

- 15.6%- 11.3%

46 43

63

40

New Listings Closed Sales

September 2011 2012

- 7.0%+ 37.0%

Page 32: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 125 128 + 2.4% 1,257 1,228 - 2.3%

Closed Sales 83 82 - 1.2% 867 788 - 9.1%

Median Sales Price* $110,550 $125,000 + 13.1% $120,000 $118,050 - 1.6%

Percent of Original List Price Received* 89.7% 92.3% + 2.9% 89.1% 91.7% + 2.9%

Percent of Properties Sold Over List Price* 22.5% 22.2% - 1.2% 19.1% 19.3% + 0.8%

Days on Market Until Sale 112 120 + 7.5% 111 107 - 3.4%

Inventory of Homes for Sale 614 413 - 32.7% -- -- --

Months Supply of Inventory 6.5 4.1 - 37.1% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Orange Park+ 2.4% - 1.2% + 13.1%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

Region 13 September Year to Date

1,257

867

1,228

788

Year to Date 2011 2012

125

83

128

82

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Orange Park

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,257

867

1,228

788

New Listings Closed Sales

Year to Date 2011 2012

- 9.1%- 2.3%

125

83

128

82

New Listings Closed Sales

September 2011 2012

- 1.2%+ 2.4%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,257

867

1,228

788

New Listings Closed Sales

Year to Date 2011 2012

- 9.1%- 2.3%

125

83

128

82

New Listings Closed Sales

September 2011 2012

- 1.2%+ 2.4%

Page 33: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 92 72 - 21.7% 782 676 - 13.6%

Closed Sales 62 49 - 21.0% 465 426 - 8.4%

Median Sales Price* $129,000 $110,000 - 14.7% $126,150 $132,000 + 4.6%

Percent of Original List Price Received* 91.1% 91.3% + 0.2% 89.8% 91.1% + 1.4%

Percent of Properties Sold Over List Price* 18.0% 24.5% + 35.8% 17.1% 19.6% + 14.6%

Days on Market Until Sale 109 124 + 14.7% 113 122 + 8.4%

Inventory of Homes for Sale 430 289 - 32.8% -- -- --

Months Supply of Inventory 8.4 5.4 - 35.0% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Middleburg Vicinity

- 21.7% - 21.0% - 14.7%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 14 September Year to Date

782676

Year to Date 2011 2012

92

6272

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Middleburg Vicinity

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

782

465

676

426

New Listings Closed Sales

Year to Date 2011 2012

- 8.4%- 13.6%

92

6272

49

New Listings Closed Sales

September 2011 2012

- 21.0%- 21.7%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

782

465

676

426

New Listings Closed Sales

Year to Date 2011 2012

- 8.4%- 13.6%

92

6272

49

New Listings Closed Sales

September 2011 2012

- 21.0%- 21.7%

Page 34: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 21 19 - 9.5% 193 187 - 3.1%

Closed Sales 11 15 + 36.4% 84 85 + 1.2%

Median Sales Price* $92,000 $99,500 + 8.2% $75,000 $64,000 - 14.7%

Percent of Original List Price Received* 78.6% 83.7% + 6.5% 79.7% 83.9% + 5.3%

Percent of Properties Sold Over List Price* 0.0% 33.3% -- 9.9% 14.8% + 50.0%

Days on Market Until Sale 193 129 - 33.5% 170 135 - 20.5%

Inventory of Homes for Sale 190 156 - 17.9% -- -- --

Months Supply of Inventory 21.7 16.0 - 26.3% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Keystone Heights Vicinity

- 9.5% + 36.4% + 8.2%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 15 September Year to Date

193 187

Year to Date 2011 2012

2119

15

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Keystone Heights Vicinity

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

+ 60%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

193

84

187

85

New Listings Closed Sales

Year to Date 2011 2012

+ 1.2%- 3.1%

21

11

1915

New Listings Closed Sales

September 2011 2012

+ 36.4%- 9.5%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

+ 60%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

193

84

187

85

New Listings Closed Sales

Year to Date 2011 2012

+ 1.2%- 3.1%

21

11

1915

New Listings Closed Sales

September 2011 2012

+ 36.4%- 9.5%

Page 35: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 23 23 0.0% 207 183 - 11.6%

Closed Sales 13 7 - 46.2% 95 84 - 11.6%

Median Sales Price* $114,000 $290,000 + 154.4% $132,000 $182,000 + 37.9%

Percent of Original List Price Received* 79.8% 93.0% + 16.6% 84.9% 87.8% + 3.5%

Percent of Properties Sold Over List Price* 8.3% 0.0% - 100.0% 13.0% 8.4% - 35.3%

Days on Market Until Sale 135 79 - 41.6% 123 136 + 10.1%

Inventory of Homes for Sale 129 113 - 12.4% -- -- --

Months Supply of Inventory 12.5 10.4 - 17.1% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Green Cove Springs

0.0% - 46.2% + 154.4%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 16 September Year to Date

207183

Year to Date 2011 2012

23 23

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Green Cove Springs

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

207

95

183

84

New Listings Closed Sales

Year to Date 2011 2012

- 11.6%- 11.6%

23

13

23

7

New Listings Closed Sales

September 2011 2012

- 46.2%0.0%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

207

95

183

84

New Listings Closed Sales

Year to Date 2011 2012

- 11.6%- 11.6%

23

13

23

7

New Listings Closed Sales

September 2011 2012

- 46.2%0.0%

Page 36: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 65 56 - 13.8% 621 513 - 17.4%

Closed Sales 39 42 + 7.7% 381 371 - 2.6%

Median Sales Price* $181,000 $257,500 + 42.3% $223,000 $250,000 + 12.1%

Percent of Original List Price Received* 94.4% 97.8% + 3.6% 89.8% 94.0% + 4.6%

Percent of Properties Sold Over List Price* 20.5% 22.0% + 7.0% 10.2% 14.7% + 43.3%

Days on Market Until Sale 84 62 - 26.1% 113 104 - 7.9%

Inventory of Homes for Sale 338 194 - 42.6% -- -- --

Months Supply of Inventory 8.7 4.6 - 46.5% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Jacksonville Beach- 13.8% + 7.7% + 42.3%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

Region 21 September Year to Date

621

381

513

371

Year to Date 2011 2012

65

39

56

42

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Jacksonville Beach

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

621

381

513

371

New Listings Closed Sales

Year to Date 2011 2012

- 2.6%- 17.4%

65

39

56

42

New Listings Closed Sales

September 2011 2012

+ 7.7%- 13.8%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

621

381

513

371

New Listings Closed Sales

Year to Date 2011 2012

- 2.6%- 17.4%

65

39

56

42

New Listings Closed Sales

September 2011 2012

+ 7.7%- 13.8%

Page 37: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 8 7 - 12.5% 90 95 + 5.6%

Closed Sales 3 6 + 100.0% 51 63 + 23.5%

Median Sales Price* $357,500 $219,500 - 38.6% $280,000 $267,000 - 4.6%

Percent of Original List Price Received* 83.5% 82.8% - 0.8% 89.3% 91.8% + 2.8%

Percent of Properties Sold Over List Price* 0.0% 16.7% -- 15.7% 16.4% + 4.5%

Days on Market Until Sale 164 85 - 48.0% 110 119 + 8.2%

Inventory of Homes for Sale 55 34 - 38.2% -- -- --

Months Supply of Inventory 9.7 4.3 - 55.3% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Neptune Beach- 12.5% + 100.0% - 38.6%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

Region 22 September Year to Date

90 95

63

Year to Date 2011 2012

87

6

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Neptune Beach

- 60%

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

90

51

95

63

New Listings Closed Sales

Year to Date 2011 2012

+ 23.5%+ 5.6%

8

3

76

New Listings Closed Sales

September 2011 2012

+ 100.0%- 12.5%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 60%

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

90

51

95

63

New Listings Closed Sales

Year to Date 2011 2012

+ 23.5%+ 5.6%

8

3

76

New Listings Closed Sales

September 2011 2012

+ 100.0%- 12.5%

Page 38: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 28 30 + 7.1% 265 266 + 0.4%

Closed Sales 18 15 - 16.7% 161 180 + 11.8%

Median Sales Price* $170,000 $125,000 - 26.5% $178,000 $180,000 + 1.1%

Percent of Original List Price Received* 91.8% 90.6% - 1.3% 86.0% 90.3% + 5.1%

Percent of Properties Sold Over List Price* 11.8% 26.7% + 126.7% 5.7% 13.0% + 126.7%

Days on Market Until Sale 119 131 + 10.3% 126 113 - 10.4%

Inventory of Homes for Sale 153 107 - 30.1% -- -- --

Months Supply of Inventory 8.8 5.1 - 42.0% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Atlantic Beach+ 7.1% - 16.7% - 26.5%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

Region 23 September Year to Date

265

161

266

180

Year to Date 2011 2012

28 30

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Atlantic Beach

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

+ 60%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

265

161

266

180

New Listings Closed Sales

Year to Date 2011 2012

+ 11.8%+ 0.4%

28

18

30

15

New Listings Closed Sales

September 2011 2012

- 16.7%+ 7.1%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

+ 60%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

265

161

266

180

New Listings Closed Sales

Year to Date 2011 2012

+ 11.8%+ 0.4%

28

18

30

15

New Listings Closed Sales

September 2011 2012

- 16.7%+ 7.1%

Page 39: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 10 13 + 30.0% 214 216 + 0.9%

Closed Sales 15 16 + 6.7% 116 164 + 41.4%

Median Sales Price* $251,000 $687,000 + 173.7% $385,000 $418,000 + 8.6%

Percent of Original List Price Received* 92.6% 90.0% - 2.8% 85.6% 89.9% + 4.9%

Percent of Properties Sold Over List Price* 20.0% 13.3% - 33.3% 8.0% 11.8% + 48.2%

Days on Market Until Sale 98 149 + 51.4% 130 146 + 11.8%

Inventory of Homes for Sale 149 92 - 38.3% -- -- --

Months Supply of Inventory 11.3 5.2 - 54.4% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Ponte Vedra Beach North

+ 30.0% + 6.7% + 173.7%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 25 September Year to Date

214 216

164

Year to Date 2011 2012

10

1513

16

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Ponte Vedra Beach North

- 80%

- 60%

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

+ 100%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

214

116

216

164

New Listings Closed Sales

Year to Date 2011 2012

+ 41.4%+ 0.9%

10

1513

16

New Listings Closed Sales

September 2011 2012

+ 6.7%+ 30.0%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 80%

- 60%

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

+ 100%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

214

116

216

164

New Listings Closed Sales

Year to Date 2011 2012

+ 41.4%+ 0.9%

10

1513

16

New Listings Closed Sales

September 2011 2012

+ 6.7%+ 30.0%

Page 40: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 83 105 + 26.5% 962 1,105 + 14.9%

Closed Sales 54 87 + 61.1% 585 706 + 20.7%

Median Sales Price* $281,046 $290,664 + 3.4% $298,643 $309,000 + 3.5%

Percent of Original List Price Received* 89.1% 94.5% + 6.1% 88.6% 92.8% + 4.7%

Percent of Properties Sold Over List Price* 14.8% 17.2% + 16.4% 9.7% 14.1% + 45.9%

Days on Market Until Sale 127 98 - 22.4% 150 114 - 24.1%

Inventory of Homes for Sale 592 448 - 24.3% -- -- --

Months Supply of Inventory 9.1 5.6 - 38.1% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Ponte Vedra Bch / S Ponte Vedra Beach / Vilano Bch / Palm Valley / Ponte

Vedra / Nocatee

+ 26.5% + 61.1% + 3.4%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 26 September Year to Date

9621,105

706

Year to Date 2011 2012

83

10587

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Ponte Vedra Bch / S Ponte Vedra Beach / Vilano Bch / Palm Valley / Ponte Vedra / Nocatee

- 30%

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

962

585

1,105

706

New Listings Closed Sales

Year to Date 2011 2012

+ 20.7%+ 14.9%

83

54

10587

New Listings Closed Sales

September 2011 2012

+ 61.1%+ 26.5%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 30%

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

962

585

1,105

706

New Listings Closed Sales

Year to Date 2011 2012

+ 20.7%+ 14.9%

83

54

10587

New Listings Closed Sales

September 2011 2012

+ 61.1%+ 26.5%

Page 41: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 147 159 + 8.2% 1,640 1,718 + 4.8%

Closed Sales 117 94 - 19.7% 1,051 1,133 + 7.8%

Median Sales Price* $225,708 $220,685 - 2.2% $212,500 $220,000 + 3.5%

Percent of Original List Price Received* 92.5% 94.5% + 2.1% 91.1% 93.9% + 3.1%

Percent of Properties Sold Over List Price* 12.9% 16.1% + 24.7% 12.4% 15.1% + 21.3%

Days on Market Until Sale 112 116 + 4.2% 121 108 - 10.8%

Inventory of Homes for Sale 844 679 - 19.5% -- -- --

Months Supply of Inventory 7.3 5.1 - 30.1% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

St. Johns County - NW

+ 8.2% - 19.7% - 2.2%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 30 September Year to Date

1,640 1,718

1 133

Year to Date 2011 2012

147

117

159

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

St. Johns County - NW

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,640

1,051

1,718

1,133

New Listings Closed Sales

Year to Date 2011 2012

+ 7.8%+ 4.8%

147

117

159

94

New Listings Closed Sales

September 2011 2012

- 19.7%+ 8.2%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,640

1,051

1,718

1,133

New Listings Closed Sales

Year to Date 2011 2012

+ 7.8%+ 4.8%

147

117

159

94

New Listings Closed Sales

September 2011 2012

- 19.7%+ 8.2%

Page 42: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 27 18 - 33.3% 187 163 - 12.8%

Closed Sales 14 9 - 35.7% 102 97 - 4.9%

Median Sales Price* $159,500 $249,550 + 56.5% $260,000 $245,000 - 5.8%

Percent of Original List Price Received* 87.9% 89.9% + 2.3% 89.1% 89.4% + 0.3%

Percent of Properties Sold Over List Price* 7.1% 0.0% - 100.0% 13.9% 6.3% - 54.4%

Days on Market Until Sale 124 86 - 30.3% 143 126 - 12.3%

Inventory of Homes for Sale 102 73 - 28.4% -- -- --

Months Supply of Inventory 8.9 6.3 - 30.0% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

St. Johns County - NE

- 33.3% - 35.7% + 56.5%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 31 September Year to Date

187163

Year to Date 2011 2012

27

18

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

St. Johns County - NE

- 60%

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

187

102

163

97

New Listings Closed Sales

Year to Date 2011 2012

- 4.9%- 12.8%

27

1418

9

New Listings Closed Sales

September 2011 2012

- 35.7%- 33.3%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 60%

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

187

102

163

97

New Listings Closed Sales

Year to Date 2011 2012

- 4.9%- 12.8%

27

1418

9

New Listings Closed Sales

September 2011 2012

- 35.7%- 33.3%

Page 43: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 16 8 - 50.0% 111 105 - 5.4%

Closed Sales 5 4 - 20.0% 67 62 - 7.5%

Median Sales Price* $143,500 $251,500 + 75.3% $176,113 $211,875 + 20.3%

Percent of Original List Price Received* 85.9% 89.9% + 4.6% 85.0% 87.7% + 3.1%

Percent of Properties Sold Over List Price* 0.0% 0.0% -- 10.6% 8.1% - 24.0%

Days on Market Until Sale 127 111 - 12.9% 145 118 - 18.3%

Inventory of Homes for Sale 84 56 - 33.3% -- -- --

Months Supply of Inventory 10.7 7.9 - 26.3% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

St. John's County - St. Augustine Area - East of US 1

- 50.0% - 20.0% + 75.3%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 32 September Year to Date

111

67

105

Year to Date 2011 2012

16

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

St. John's County - St. Augustine Area - East of US 1

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

111

67

105

62

New Listings Closed Sales

Year to Date 2011 2012

- 7.5%- 5.4%

16

5

8

4

New Listings Closed Sales

September 2011 2012

- 20.0%- 50.0%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

111

67

105

62

New Listings Closed Sales

Year to Date 2011 2012

- 7.5%- 5.4%

16

5

8

4

New Listings Closed Sales

September 2011 2012

- 20.0%- 50.0%

Page 44: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 48 66 + 37.5% 678 710 + 4.7%

Closed Sales 30 34 + 13.3% 429 409 - 4.7%

Median Sales Price* $153,000 $148,000 - 3.3% $152,500 $158,000 + 3.6%

Percent of Original List Price Received* 87.7% 91.2% + 4.1% 86.8% 89.8% + 3.4%

Percent of Properties Sold Over List Price* 3.4% 2.9% - 14.7% 8.8% 7.2% - 18.3%

Days on Market Until Sale 152 135 - 11.0% 137 131 - 4.3%

Inventory of Homes for Sale 417 356 - 14.6% -- -- --

Months Supply of Inventory 8.5 7.4 - 13.1% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

St. Johns County - SE

+ 37.5% + 13.3% - 3.3%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 33 September Year to Date

678

429

710

Year to Date 2011 2012

48

66

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

St. Johns County - SE

- 30%

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

678

429

710

409

New Listings Closed Sales

Year to Date 2011 2012

- 4.7%+ 4.7%

48

30

66

34

New Listings Closed Sales

September 2011 2012

+ 13.3%+ 37.5%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 30%

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

678

429

710

409

New Listings Closed Sales

Year to Date 2011 2012

- 4.7%+ 4.7%

48

30

66

34

New Listings Closed Sales

September 2011 2012

+ 13.3%+ 37.5%

Page 45: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 13 13 0.0% 112 117 + 4.5%

Closed Sales 8 7 - 12.5% 60 68 + 13.3%

Median Sales Price* $51,051 $43,500 - 14.8% $67,500 $78,150 + 15.8%

Percent of Original List Price Received* 88.3% 90.1% + 2.1% 88.5% 88.7% + 0.2%

Percent of Properties Sold Over List Price* 25.0% 14.3% - 42.9% 18.2% 9.0% - 50.7%

Days on Market Until Sale 98 74 - 24.4% 102 104 + 1.5%

Inventory of Homes for Sale 82 62 - 24.4% -- -- --

Months Supply of Inventory 12.1 7.2 - 40.5% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

St. Johns County - SW

0.0% - 12.5% - 14.8%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 34 September Year to Date

112 117

Year to Date 2011 2012

13

8

13

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

St. Johns County - SW

- 60%

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

112

60

117

68

New Listings Closed Sales

Year to Date 2011 2012

+ 13.3%+ 4.5%

13

8

13

7

New Listings Closed Sales

September 2011 2012

- 12.5%0.0%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 60%

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

112

60

117

68

New Listings Closed Sales

Year to Date 2011 2012

+ 13.3%+ 4.5%

13

8

13

7

New Listings Closed Sales

September 2011 2012

- 12.5%0.0%

Page 46: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 63 60 - 4.8% 587 590 + 0.5%

Closed Sales 34 22 - 35.3% 338 304 - 10.1%

Median Sales Price* $138,000 $135,000 - 2.2% $143,760 $152,000 + 5.7%

Percent of Original List Price Received* 89.7% 89.5% - 0.1% 88.1% 90.7% + 2.9%

Percent of Properties Sold Over List Price* 14.7% 19.0% + 29.5% 16.8% 15.3% - 8.9%

Days on Market Until Sale 111 115 + 3.1% 118 110 - 7.1%

Inventory of Homes for Sale 397 325 - 18.1% -- -- --

Months Supply of Inventory 10.8 8.7 - 19.6% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Nassau County- 4.8% - 35.3% - 2.2%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

Region 40 September Year to Date

587 590

Year to Date 2011 2012

63 60

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Nassau County

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

587

338

590

304

New Listings Closed Sales

Year to Date 2011 2012

- 10.1%+ 0.5%

63

34

60

22

New Listings Closed Sales

September 2011 2012

- 35.3%- 4.8%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

587

338

590

304

New Listings Closed Sales

Year to Date 2011 2012

- 10.1%+ 0.5%

63

34

60

22

New Listings Closed Sales

September 2011 2012

- 35.3%- 4.8%

Page 47: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 24 29 + 20.8% 203 188 - 7.4%

Closed Sales 12 3 - 75.0% 89 75 - 15.7%

Median Sales Price* $123,453 $155,000 + 25.6% $125,000 $128,000 + 2.4%

Percent of Original List Price Received* 88.1% 89.2% + 1.2% 87.8% 88.3% + 0.6%

Percent of Properties Sold Over List Price* 8.3% 0.0% - 100.0% 9.5% 19.2% + 101.4%

Days on Market Until Sale 69 167 + 140.1% 108 114 + 5.4%

Inventory of Homes for Sale 131 97 - 26.0% -- -- --

Months Supply of Inventory 13.2 9.5 - 28.4% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Baker County+ 20.8% - 75.0% + 25.6%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

Region 50 September Year to Date

203 188

Year to Date 2011 2012

2429

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Baker County

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

203

89

188

75

New Listings Closed Sales

Year to Date 2011 2012

- 15.7%- 7.4%

24

12

29

3

New Listings Closed Sales

September 2011 2012

- 75.0%+ 20.8%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

203

89

188

75

New Listings Closed Sales

Year to Date 2011 2012

- 15.7%- 7.4%

24

12

29

3

New Listings Closed Sales

September 2011 2012

- 75.0%+ 20.8%

Page 48: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 35 43 + 22.9% 337 393 + 16.6%

Closed Sales 16 15 - 6.3% 142 166 + 16.9%

Median Sales Price* $64,900 $102,500 + 57.9% $69,950 $69,950 0.0%

Percent of Original List Price Received* 79.7% 84.3% + 5.7% 78.8% 83.6% + 6.1%

Percent of Properties Sold Over List Price* 13.3% 14.3% + 7.1% 8.7% 12.5% + 43.2%

Days on Market Until Sale 225 147 - 35.0% 183 131 - 28.6%

Inventory of Homes for Sale 334 302 - 9.6% -- -- --

Months Supply of Inventory 21.3 14.9 - 30.3% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Putnam County NE+ 22.9% - 6.3% + 57.9%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

Region 56 September Year to Date

337393

Year to Date 2011 2012

3543

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Putnam County NE

- 35%

- 30%

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

337

142

393

166

New Listings Closed Sales

Year to Date 2011 2012

+ 16.9%+ 16.6%

35

16

43

15

New Listings Closed Sales

September 2011 2012

- 6.3%+ 22.9%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 35%

- 30%

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

337

142

393

166

New Listings Closed Sales

Year to Date 2011 2012

+ 16.9%+ 16.6%

35

16

43

15

New Listings Closed Sales

September 2011 2012

- 6.3%+ 22.9%

Page 49: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 18 39 + 116.7% 243 233 - 4.1%

Closed Sales 13 3 - 76.9% 111 92 - 17.1%

Median Sales Price* $31,299 $59,000 + 88.5% $38,300 $50,000 + 30.5%

Percent of Original List Price Received* 83.1% 69.0% - 16.9% 78.3% 78.3% + 0.0%

Percent of Properties Sold Over List Price* 7.7% 0.0% - 100.0% 8.3% 10.7% + 28.6%

Days on Market Until Sale 76 193 + 155.5% 162 159 - 2.0%

Inventory of Homes for Sale 224 175 - 21.9% -- -- --

Months Supply of Inventory 19.2 16.3 - 15.2% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Putnam County - West

+ 116.7% - 76.9% + 88.5%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 57 September Year to Date

243 233

Year to Date 2011 2012

39

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Putnam County - West

- 50%

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

243

111

233

92

New Listings Closed Sales

Year to Date 2011 2012

- 17.1%- 4.1%

1813

39

3

New Listings Closed Sales

September 2011 2012

- 76.9%+ 116.7%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 50%

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

243

111

233

92

New Listings Closed Sales

Year to Date 2011 2012

- 17.1%- 4.1%

1813

39

3

New Listings Closed Sales

September 2011 2012

- 76.9%+ 116.7%

Page 50: Monthly IndicatorsPercentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting

A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®

2011 2012 + / – 2011 2012 + / –

New Listings 26 29 + 11.5% 271 276 + 1.8%

Closed Sales 9 3 - 66.7% 85 111 + 30.6%

Median Sales Price* $85,550 $169,700 + 98.4% $40,000 $54,000 + 35.0%

Percent of Original List Price Received* 75.9% 72.0% - 5.0% 80.4% 79.4% - 1.3%

Percent of Properties Sold Over List Price* 33.3% 0.0% - 100.0% 10.8% 1.9% - 82.0%

Days on Market Until Sale 313 399 + 27.6% 172 199 + 15.9%

Inventory of Homes for Sale 268 262 - 2.2% -- -- --

Months Supply of Inventory 26.8 21.2 - 20.7% -- -- --

Local Market Update – September 2012

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Putnam County - South

+ 11.5% - 66.7% + 98.4%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

Region 58 September Year to Date

271 276

Year to Date 2011 2012

2629

September 2011 2012

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

All MLS

Putnam County - South

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

271

85

276

111

New Listings Closed Sales

Year to Date 2011 2012

+ 30.6%+ 1.8%

26

9

29

3

New Listings Closed Sales

September 2011 2012

- 66.7%+ 11.5%

share of sales during that period. | Current as of October 8, 2012. All data from Northeast Florida Multiple Listing Service. | Powered by 10K Research and Marketing.

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

271

85

276

111

New Listings Closed Sales

Year to Date 2011 2012

+ 30.6%+ 1.8%

26

9

29

3

New Listings Closed Sales

September 2011 2012

- 66.7%+ 11.5%