Q2 2014 New River Valley Market Report

NEW RIVER VALLEY MSA MARKET ANALYSIS Second Quarter 2014

Market Snapshot

-17% $169,000TOTAL SALESThere were 435 total sales thispast quarter compared to 527 inQ2 2013. This translates to a 17%drop on a year-over-year basis.

MEDIAN SALES PRICEThe median sales price this pastquarter was $169,000 comparedto $179,900 in Q2 2013.

TOTAL INVENTORYAt the end of this past quarter, total inventory levels were up 3%compared to the end of Q2 2013.

'09

Q2

'09

Q3

'09

Q4

'10 Q

1

'10 Q

2

'10 Q

3

'10 Q

4

'11 Q

1

'11 Q

2

'11 Q

3

'11 Q

4

'12 Q

1

'12 Q

2

'12 Q

3

'12 Q

4

'13 Q

1

'13 Q

2

'13 Q

3

'13 Q

4

'14 Q

1

'14 Q

2

0

100

200

300

400

500

600

440

300

450450428

476465

250

427

305334

262

435

236

527

412

321

271251

313311

Five Year Sales Trend (Total Sales)

109DAYS ON MARKETHomes sold this quarter spent anaverage of 109 days on market before being sold.

8%CONTRACTS WRITTENThere were a total of 526 con-tracts written this past quarter compared to 488 in Q2 2013. Thistranslates to a 8% year-over-year ..

MONTHS OF INVENTORYAt the end of this past quarter,there were 9 months of inventory available.

06/2013 07/2013 08/2013 09/2013 10/2013 11/2013 12/2013 01/2014 02/2014 03/2014 04/2014 05/2014 06/2014

120K

140K

160K

180K

200K

220K

188,144

190,295

180,318

191,057

153,488155,397

215,031

195,019

197,399

170,696

200,599 207,052

165,947

195,000

161,500156,000164,100

165,500

130,000

150,000

168,500168,875

183,575

144,001

141,950

140,000

Average & Median Price Trends

AVG. SALES PRICE MEDIAN SALES PRICE

06/2013 07/2013 08/2013 09/2013 10/2013 11/2013 12/2013 01/2014 02/2014 03/2014 04/2014 05/2014 06/2014

183,575

207,052

168,500

195,019

150,000

180,318

144,001

153,488

141,950

165,947

130,000

155,397

156,000

190,295

140,000

170,696

165,500

191,057

164,100

188,144

168,875

200,599

161,500

197,399

195,000

215,031Average Median

3%

9

NEW RIVER VALLEY MSA MARKET ANALYSIS Second Quarter 2014

Quarterly Performance & Yearly Growth

TOTALSALES

AVG. LISTPRICE

AVG. SALESPRICE

MEDIANSALES PRICE

AVG.$/SQ.FT.

AVG. DAYSON MARKET

2014 Q2 111105179,000201,758209,181364% Change 10.16%1.14%-4.28%-2.18%-2.57%-20.35%

2013 Q2 101104187,000206,253214,697457% Change -18.74%5.45%17.43%11.97%9.89%20.90%

2012 Q2 12498159,250184,203195,372378

CONTRACTSWRITTEN

457

9.33%

418

9.14%

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TOTALSALES

AVG. LISTPRICE

AVG. SALESPRICE

MEDIANSALES PRICE

AVG.$/SQ.FT.

AVG. DAYSON MARKET

2014 Q2 83106164,000171,894177,69451

% Change 12.54%-6.54%-4.93%-1.89%-1.72%8.51%

2013 Q2 74114172,500175,198180,80947

% Change -28.09%1.91%4.55%-1.51%-1.99%-11.32%

2012 Q2 103112165,000177,881184,47453

CONTRACTSWRITTEN

51

10.87%

46

-17.86%

56

TOTALSALES

AVG. LISTPRICE

AVG. SALESPRICE

MEDIANSALES PRICE

AVG.$/SQ.FT.

AVG. DAYSON MARKET

2014 Q2 127128121,900138,125142,03820

% Change -7.02%-13.42%2.44%-3.91%-5.34%-13.04%

2013 Q2 74114172,500175,198180,80947

% Change 7.74%10.81%-15.00%-16.32%-12.27%21.05%

2012 Q2 126133140,000171,771171,03219

CO

ND

O

CONTRACTSWRITTEN

18

-25.00%

24

9.09%

22

2012 2013 2014

680609 622

80 7883

3932 31

Year-to-Date Sales by Property Type

Detached Townhome/Twin Condo

NEW RIVER VALLEY MSA MARKET ANALYSIS Second Quarter 2014

June 2014

INVENTORYMONTHS OFINVENTORY

May 2014

INVENTORYMONTHS OFINVENTORY

June 2013

INVENTORYMONTHS OFINVENTORY

Single Family

Attached

Condo

All 19.7

5.13

5.29

9.28

1,497

41

111

1,345

42.23

24.67

7.47

10.09

1,498

74

112

1,312

20.22

6.14

5.76

8.32

1,447

43

98

1,306

Inventory Levels & Months of Inventory

January February March April May June July August September October November December

1000

1200

1400

1600

1800

2000

Four Year Inventory History

2011 2012 2013 2014

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011 Inventory

New Listings

2012 Inventory

New Listings

2013 Inventory

New Listings

2014 Inventory

New Listings

138

1,318

174

1,415

203

1,507

192

1,620

277

1,693

254

1,680

303

1,745

370

1,708

385

1,611

385

1,478

287

1,354

221

1,318

145

1,175

155

1,255

202

1,297

182

1,355

219

1,397

231

1,424

240

1,472

294

1,427

362

1,388

328

1,297

272

1,233

245

1,205

122

1,246

160

1,348

191

1,408

261

1,445

266

1,457

258

1,467

310

1,447

332

1,372

365

1,319

358

1,251

254

1,185

238

1,120

304

1,492

357

1,496

362

1,423

339

1,297

243

1,212

264

1,159

3 KEY TAKEAWAYS 1. After the strongest first quarter performance in the past five years, Q2 total sales this past quarterwere the lowest they'e been since 2011. 2. In addition to the substantial year-over-year decrease in total sales, the drop in median prices signalsthat home values may be depreciating which discourges both buyers and sellers from entering the marketplace. 3. The 8% year-over-year increase in contracts written this past quarter is a positive sign that the marketcan bounce back in the third quarter this year, despite a tough second quarter.

TOWN OF BLACKSBURG MARKET ANALYSIS Second Quarter 2014

Market Snapshot

-31% $237,000

59 -9%

TOTAL SALESThere were 84 totals sales this pastquarter compared to 121 total salesin Q2 2013. This translates to a 31%drop on a year-over-year basis.

MEDIAN SALES PRICEThe median sales price was$237,000 this past quarter com-pared to $230,000 in Q2 2013.

TOTAL INVENTORYAt the end of this past quarter,inventory levels were 4% higherthan inventory levels at the end ofQ2 2013.

DAYS ON MARKETHomes sold this past quarter spentan average of 59 days on market before being sold.

CONTRACTS WRITTEN95 total contracts were written thispast quarter compared to 104 writ-ten in Q2 2013. This translates to a9% drop on a year-over-year basis.

MONTHS OF INVENTORYAt the end of this past quarter,there were 4 months of inventoryavailable for sale.

'09

Q2

'09

Q3

'09

Q4

'10 Q

1

'10 Q

2

'10 Q

3

'10 Q

4

'11 Q

1

'11 Q

2

'11 Q

3

'11 Q

4

'12 Q

1

'12 Q

2

'12 Q

3

'12 Q

4

'13 Q

1

'13 Q

2

'13 Q

3

'13 Q

4

'14 Q

1

'14 Q

2

0

20

40

60

80

100

120

140

103

90 9084

64

86

50

34

74

47 47 47 43

54

82

63

79

56

121

52

35

Five Year Sales Trend (Total Sales)

0% 25% 50% 75% 100%

2014Q2

2014Q1

2013Q4

2013Q3

2013Q2

20%30%

30% 42%

28%

26%

38%

39%

23%

37%

53%

14%14%

12%

21%

17%

15%

4%

4%

6%

2%

2%

2%

3%

5%

5%

5%

1%

Sales by Price Range

0-99,999 100K-199,999 200K-299,999 300K-399,999 400K-499,999 500K+

4%

4

TOWN OF BLACKSBURG MARKET ANALYSIS Second Quarter 2014

Quarterly Performance & Yearly Growth

TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

2014 Q2 39132267,500291,801297,41352% Change -20.38%2.17%0.38%1.22%0.96%-35.00%

2013 Q2 49130266,500288,294294,59880% Change -48.37%0.96%10.58%6.32%5.64%40.35%

2012 Q2 95128241,000271,156278,87457

CONTRACTSWRITTEN

61

1.67%

60

25.00%

48

TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

2014 Q2 47124175,000186,247189,65315

% Change -46.82%-0.47%-7.89%-8.41%-9.56%-31.82%

2013 Q2 88125190,000203,359209,69322

% Change -24.34%-3.75%-0.52%-7.23%-7.78%15.79%

2012 Q2 116130191,000219,216227,38919

CONTRACTSWRITTEN

18

-33.33%

27

58.82%

17

TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

2014 Q2 130127121,000126,794129,99717

% Change 0.29%-16.68%2.54%-3.62%-5.46%-10.53%

2013 Q2 129152118,000131,561137,50019

% Change 95.77%13.11%-13.39%-11.31%-10.28%35.71%

2012 Q2 66134136,250148,343153,25714

CONTRACTSWRITTEN

16

-5.88%

17

0.00%

17

2012 2013 2014

86

24

70

2638

3227 25

111

Year-to-Date Sales by Property Type

Condo Detached Townhome/Twin

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TOWN OF BLACKSBURG MARKET ANALYSIS

Second Quarter 2014

3 KEY TAKEAWAYS

1. The low average days on market and limited months of inventory, the Town of Blacksburgmarketplace heavily favors sellers. 2. While total sales decreased signficantly this past quarter, the fact that median sales prices roseslightly is another positive sign for sellers. 3. Given that the number of contracts written this past quarter was down signficantly on a year-over-year basis, the market may lower sales levels in the third quarter this year.

June 2014

TOTALINVENTORY

MONTHS OFINVENTORY

May 2014

TOTALINVENTORY

MONTHS OFINVENTORY

June 2013

TOTALINVENTORY

MONTHS OFINVENTORY

Detached

Attached

Condo

All 12.4

4.4

4.6

3.5

148

31

41

76

35.7

21.0

10.5

4.2

181

63

42

76

12.3

7.0

2.8

2.6

142

35

25

82

Inventory Levels & Months of Inventory

January February March April May June July August September October November December

100

120

140

160

180

200

220

Four Year Inventory History

2011 2012 2013 2014

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011 InventoryNew Listings

2012 InventoryNew Listings

2013 InventoryNew Listings

2014 InventoryNew Listings

11122

19137

23136

19150

26157

26166

31183

46202

59201

56173

37156

39143

28145

21134

27138

12145

26149

31155

33158

29152

50161

67127

43120

36112

19123

14130

21145

62149

31130

28131

31142

30149

49159

71179

48158

39135

37148

45181

44176

58169

48143

39115

TOWN OF CHRISTIANSBURG MARKET ANALYSIS Second Quarter 2014

Market Snapshot

TOTAL SALESThere were 91 total sales this pastquarter compared to 92 total salesin Q2 2013. This translates to a 1%year-over-year decrease.

MEDIAN PRICEThe median sales price this pastquarter was $166,000 comparedto $175,625 in Q2 2013.

-1% $166,000 18%TOTAL INVENTORYAt the end of this past quarter,inventory levels were 18% higherthan at the end of Q2 2013.

94DAYS ON MARKETHomes sold this past quarter spentan average of 94 days on marketbefore being sold.

CONTRACTS WRITTENThere were 91 contracts writtenthis past quarter compared to 78 inQ2 2013. This translates to a 21%year-over-year increase.

MONTHS OF INVENTORYAt the end of this past quarter,there was a total of 8 months of inventory available on the marketin the Town of Christiansburg.

21% 8

'09

Q2

'09

Q3

'09

Q4

'10 Q

1

'10 Q

2

'10 Q

3

'10 Q

4

'11 Q

1

'11 Q

2

'11 Q

3

'11 Q

4

'12 Q

1

'12 Q

2

'12 Q

3

'12 Q

4

'13 Q

1

'13 Q

2

'13 Q

3

'13 Q

4

'14 Q

1

'14 Q

2

0

25

50

75

100

125

150

44

90

64

48

64

89

47 47

118

5445

92

78

93

112

85

37

75

55 55

91

Five Year Sales Trend (Total Sales)

0% 25% 50% 75% 100%

2014Q2

2014Q1

2013Q4

2013Q3

2013Q2

60%

48%

64% 20%

26%

56%

65% 23%

27%

33%12%

13%

4%

4%

8%

6%

11% 2%

3%

7%

1%

1%

1%

1%

Sales by Price Range

0-99,999 100K-199,999 200K-299,999 300K-399,999 400K-499,999 500K+

TOWN OF CHRISTIANSBURG MARKET ANALYSIS Second Quarter 2014

Quarterly Performance & Yearly Growth

TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

2014 Q2 8999185,000191,956195,07565% Change 9.38%-4.73%2.78%1.45%0.04%-13.33%

2013 Q2 81104180,000189,205195,00375% Change -24.38%6.39%4.65%0.06%-0.44%36.36%

2012 Q2 10798172,000189,091195,86555

CONTRACTSWRITTEN

76

18.75%

64

-3.03%

66

TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

2014 Q2 10793138,000143,454148,64024

% Change 92.04%-6.33%5.54%3.13%3.51%71.43%

2013 Q2 5699130,750139,100143,60014

% Change -29.47%2.64%-3.51%-3.95%-3.06%-46.15%

2012 Q2 7997135,500144,815148,13326

CONTRACTSWRITTEN

18

80.00%

10

-65.52%

29

TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

2014 Q2 102150241,500241,500250,4502

% Change -53.44%8.24%5.46%3.28%3.09%-33.33%

2013 Q2 218139229,000233,833242,9333

% Change -39.36%1.77%-16.58%-15.88%-5.11%-25.00%

2012 Q2 360136274,500277,963256,0054

CONTRACTSWRITTEN

30

0.00%

4

n/a

0.00%

4

2012 2013 2014

107

89

2535 41

111

4

63

Year-to-Date Sales by Property Type

Attached Condo Detached

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TOWN OF CHRISTIANSBURG MARKET ANALYSIS Second Quarter 2014

June 2014

TOTALINVENTORY

MONTHS OFINVENTORY

May 2014

TOTALINVENTORY

MONTHS OFINVENTORY

June 2013

TOTALINVENTORY

MONTHS OFINVENTORY

Detached

Attached

Condo

All 15.72

7.57

8.15

219

3

53

163

12.98

6.75

6.23

219

3

54

162

21.35

1.5

14.33

5.52

184

3

43

138

Year-to-Date Sales by Property Type

January February March April May June July August September October November December

0

50

100

150

200

250

Four Year Inventory History

2011 2012 2013 2014

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2011 Inventory

New Listings2012 Inventory

New Listings2013 Inventory

New Listings2014 Inventory

New Listings

15151

24161

34173

31193

33202

40212

42227

50243

55228

61215

46204

50185

24117

26130

26140

33142

28139

27155

22173

52179

69161

40153

47152

30134

19155

27174

33181

39180

55183

42185

54184

57165

75155

47132

44126

46111

46218

53219

71207

58178

38167

54155

3 KEY TAKEAWAYS 1. With total sales remaining flat, median prices increasing for each property type, and 8 months of inventory available, the Christiansburg market is fairly stable. 2. The significant increase in inventory levels, which are as high as they've been since 2011, is due in part tothe increase in the average days on market as well as seller confidence in the market. 3. The strong year-over-year increase in the number of contracts written is also a positive signal that themarket will maintain momentum moving in the third quarter this year.

RADFORD CITY MARKET ANALYSIS Second Quarter 2014

TOTAL SALESThere were 38 total sales this pastquarter compared to 31 in Q2 2013.This translates to a 23% increaseon a year-over-year basis.

MEDIAN SALES PRICEThe median sales price this pastquarter was $151,000 compared to$119,000 in Q2 2013.

Quarterly Performance & Yearly Growth

'09

Q2

'09

Q3

'09

Q4

'10 Q

1

'10 Q

2

'10 Q

3

'10 Q

4

'11 Q

1

'11 Q

2

'11 Q

3

'11 Q

4

'12 Q

1

'12 Q

2

'12 Q

3

'12 Q

4

'13 Q

1

'13 Q

2

'13 Q

3

'13 Q

4

'14 Q

1

'14 Q

20

10

20

30

40

50

20 20

34

28

38

27

32

27

3335

41

18 18 1816

1921

31 31

15

11

Five Year Sales Trend (Total Sales)

TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

2014 Q2 7994151,000159,272165,73538

% Change 14.18%16.54%26.89%32.85%33.12%22.58%

2013 Q2 6981119,000119,885124,49831

% Change -37.83%-11.97%2.59%-11.40%-13.21%14.81%

2012 Q2 11192116,000135,313143,44627

CONTRACTSWRITTEN

46

31.43%

35

2.94%

34

TOTAL INVENTORYAt the end of this past quarter, total inventory levels were up183% compared to the end of Q2 2013.

CONTRACTS WRITTENThere were a total of 46 contractswritten this past quarter comparedto 35 in Q2 2013. This translates toa 31% year-over-year increase.

DAYS ON MARKETHomes sold this quarter spent anaverage of 79 days on market before being sold.

MONTHS OF INVENTORYAt the end of this past quarter,there were 14 months of inventory available.

23% $151,000 183%

79 31% 14

Market Snapshot

MONTGOMERY COUNTY MARKET ANALYSIS Second Quarter 2014

TOTAL SALESThere were 61 total sales this pastquarter compared to 109 in Q22013. This translates to a 44% dropon a year-over-year basis.

-44% $240,000 -7%

83 -2% 7

'09

Q2

'09

Q3

'09

Q4

'10 Q

1

'10 Q

2

'10 Q

3

'10 Q

4

'11 Q

1

'11 Q

2

'11 Q

3

'11 Q

4

'12 Q

1

'12 Q

2

'12 Q

3

'12 Q

4

'13 Q

1

'13 Q

2

'13 Q

3

'13 Q

4

'14 Q

1

'14 Q

20

20

40

60

80

100

120109

48

64

46

68

34

47 4743 43 43

36

67

59

2227

23

52

35

81

61

Five Year Sales Trend (Total Sales)

MEDIAN SALES PRICEThe median sales price this pastquarter was $240,000 comparedto $218,000 in Q2 2013.

Quarterly Performance & Yearly Growth

TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

2014 Q2 83120240,000284,218293,09661

% Change 12.24%5.59%10.09%12.80%12.38%-44.04%

2013 Q2 74114218,000251,958260,804109

% Change -45.66%0.36%-2.44%-1.37%-2.36%60.29%

2012 Q2 137113223,450255,446267,10168

CONTRACTSWRITTEN

87

-2.25%

89

17.11%

76

TOTAL INVENTORYAt the end of this past quarter, total inventory levels were down7% compared to the end of Q2 2013.

DAYS ON MARKETHomes sold this quarter spent anaverage of 83 days on market before being sold.

CONTRACTS WRITTENThere were a total of 87 contractswritten this past quarter comparedto 89 in Q2 2013. This translates toa 2% year-over-year drop.

MONTHS OF INVENTORYAt the end of this past quarter,there were 7 months of inventory available.

Market Snapshot

FLOYD COUNTY MARKET ANALYSIS Second Quarter 2014

TOTAL SALESThere were 25 total sales this pastquarter compared to 26 in Q22013. This translates to a 4% dropon a year-over-year basis.

MEDIAN SALES PRICEThe median sales price this pastquarter was $150,000 comparedto $153,050 in Q2 2013.

Quarterly Performance & Yearly Growth

'09

Q2

'09

Q3

'09

Q4

'10 Q

1

'10 Q

2

'10 Q

3

'10 Q

4

'11 Q

1

'11 Q

2

'11 Q

3

'11 Q

4

'12 Q

1

'12 Q

2

'12 Q

3

'12 Q

4

'13 Q

1

'13 Q

2

'13 Q

3

'13 Q

4

'14 Q

1

'14 Q

20

10

20

30

40

50

20 20 20

2426

2223 232525

10

14

18

12

21

17 17

13

911 11

Five Year Sales Trend (Total Sales)

TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

2014 Q2 148116150,000157,396170,98825

% Change 20.33%16.15%-1.99%-4.22%0.28%-3.85%

2013 Q2 123100153,050164,329170,51426

% Change -18.37%4.84%28.83%9.64%-0.57%13.04%

2012 Q2 15196118,800149,874171,48723

CONTRACTSWRITTEN

27

0.00%

27

42.11%

19

TOTAL INVENTORYAt the end of this past quarter, total inventory levels were down2% compared to the end of Q22013.

DAYS ON MARKETHomes sold this quarter spent anaverage of 148 days on market before being sold.

CONTRACTS WRITTENThere were a total of 27 contractswritten this past quarter comparedto 27 in Q2 2013. This translates toa 0% year-over-year change.

MONTHS OF INVENTORYAt the end of this past quarter,there were 26 months of inventory available.

-4% $150,000 -2%

148 0% 26

Market Snapshot

GILES COUNTY MARKET ANALYSIS Second Quarter 2014

Market Snapshot

-38% $114,950

264 8%

-7%

10

'09

Q2

'09

Q3

'09

Q4

'10 Q

1

'10 Q

2

'10 Q

3

'10 Q

4

'11 Q

1

'11 Q

2

'11 Q

3

'11 Q

4

'12 Q

1

'12 Q

2

'12 Q

3

'12 Q

4

'13 Q

1

'13 Q

2

'13 Q

3

'13 Q

4

'14 Q

1

'14 Q

20

10

20

30

40

50

40

20

24

30

42

34

28 2826

22

32

23

3335 35

1619 19

21

3131

Five Year Sales Trend (Total Sales)

TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

2014 Q2 26478114,950133,545140,03426

Quarterly Performance & Yearly Growth

% Change 72.14%-5.52%-16.37%-14.30%-14.89%-38.10%

2013 Q2 15383137,450155,821164,53842

% Change 5.22%2.51%27.27%11.11%11.77%35.48%

2012 Q2 14681108,000140,242147,20931

CONTRACTSWRITTEN

41

7.89%

38

31.03%

29

TOTAL SALESThere were 26 total sales this pastquarter compared to 42 total salesin Q2 2013. This translates to a 38%year-over-year drop.

MEDIAN SALES PRICEThe median home price was$114,950 this past quarter compared to a median price of$137,450 in Q2 2013.

DAYS ON MARKETHomes sold this quarter spent anaverage of 264 days on market before being sold.

TOTAL INVENTORYAt the end of this past quarter, total inventory levels were down7% compared to the end of Q2 2013.

CONTRACTS WRITTENThere were a total of 41 contractswritten this past quarter comparedto 38 in Q2 2013. This translates toa 8% year-over-year increase.

MONTHS OF INVENTORYAt the end of this past quarter,there were 10 months of inventory available.

PULASKI COUNTY MARKET ANALYSIS Second Quarter 2014

30%

Market Snapshot

$139,200

124 16%

7%

11

'09

Q2

'09

Q3

'09

Q4

'10 Q

1

'10 Q

2

'10 Q

3

'10 Q

4

'11 Q

1

'11 Q

2

'11 Q

3

'11 Q

4

'12 Q

1

'12 Q

2

'12 Q

3

'12 Q

4

'13 Q

1

'13 Q

2

'13 Q

3

'13 Q

4

'14 Q

1

'14 Q

20

20

40

60

80

100

60

4849 49

68 70

47

54 5454 54

83

52 52 52

33

53

41 41

31

71

Five Year Sales Trend (Total Sales)

Quarterly Performance & Yearly Growth

TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

2014 Q2 12488139,200159,226165,90570

% Change 19.12%10.92%5.45%10.40%8.47%29.63%

2013 Q2 10479132,011144,230152,95454

% Change 13.74%2.75%11.87%18.79%18.53%-20.59%

2012 Q2 9277118,000121,415129,03868

CONTRACTSWRITTEN

80

69

15.94%

1.47%

68

TOTAL SALESThere were 70 total sales this pastquarter compared to 54 total salesin Q2 2013. This translates to a30% year-over-year increase.

MEDIAN SALES PRICEThe median home price was$139,200 this past quarter compared to a median price of$132,011 in Q2 2013.

TOTAL INVENTORYAt the end of this past quarter, total inventory levels were up 7%compared to the end of Q2 2013.

DAYS ON MARKETHomes sold this quarter spent anaverage of 124 days on market before being sold.

CONTRACTS WRITTENThere were a total of 80 contractswritten this past quarter comparedto 69 in Q2 2013. This translates toa 16% year-over-year increase.

MONTHS OF INVENTORYAt the end of this past quarter,there were 11 months of inventory available.