Metro Market Overview – 12/31/2015 Provided by Keller Williams Realty Single Family Detached Residences– Metro Atlanta (41 FMLS Areas)

List Price

Median* No. of ForeTotal Months Original Short Failed Number Number Pending Closings closures Distressed Supply List Price Sale % of Listings (Previous Active Pending Ratio Last 3 % of sales % of of Closings Percent listing Months Closings closings Listings periods

Median* Median* Median % S/L Days on Price Market Sales (Previous (Previous Price Listing Listing Periods Included)

included)

Current Month Only

Periods Included)

Using most recent 3-months of Sales and Failed data to minimize unusual monthly variations

<=$25K $26-$50K $51-$75K $76-$100K $101-$150K $151-$200K $201-$250K

68 233 332 481 1,307 1,456 1,373

42 128 218 305 949 1,023 740

38.2% 35.5% 39.6% 38.8% 42.1% 41.3% 35.0%

79 221 286 399 1,588 2,051 1,578

22.8% 25.3% 20.6% 14.0% 7.0% 3.1% 2.4%

10.1% 13.6% 18.5% 14.3% 6.4% 4.1% 3.0%

32.9% 38.9% 39.2% 28.3% 13.4% 7.2% 5.4%

34.2% 39.3% 34.4% 33.1% 28.2% 26.1% 30.3%

2.6 3.2 3.5 3.6 2.5 2.1 2.6

$22,500 $45,000 $69,800 $95,000 $136,900 $179,900 $234,900

$18,000 $39,500 $60,080 $86,000 $129,900 $173,000 $223,375

86.7% 85.2% 90.1% 92.3% 95.7% 96.9% 96.5%

33 49 55 49 45 39 47

$251-$300K $301-$350K $351-$400K $401-$500K $501-$600K $601-$750K

1,242 924 853 1,194 1,228 753

571 380 348 377 244 177

31.5% 29.1% 29.0% 24.0% 16.6% 19.0%

1,183 886 713 841 417 332

1.2% 0.8% 1.0% 0.5% 0.7% 0.0%

2.5% 1.8% 1.5% 1.9% 1.9% 1.2%

3.6% 2.6% 2.5% 2.4% 2.6% 1.2%

33.1% 33.9% 36.2% 41.6% 51.7% 53.0%

3.1 3.1 3.6 4.3 8.8 6.8

$282,590 $339,000 $389,900 $465,000 $574,900 $699,900

$270,000 $322,000 $372,000 $439,900 $538,000 $655,750

96.5% 96.2% 96.3% 95.5% 95.0% 95.0%

48 46 54 56 70 77

696 491 226 236 13,093

147 79 33 21 5,782

17.4% 13.9% 12.7% 8.2% 30.6%

222 116 42 30 10,984

0.5% 0.0% 0.0% 0.0% 4.0%

1.4% 1.7% 0.0% 0.0% 4.3%

1.8% 1.7% 0.0% 0.0% 8.2%

62.3% 67.6% 65.9% 73.2% 36.1%

9.4 $884,900 $815,000 12.7 $1,299,000 $1,150,000 16.1 $1,753,900 $1,640,000 23.6 $2,692,450 $2,301,250 3.6 $236,125 $225,000

93.9% 89.5% 92.5% 88.1% 95.9%

79 174 118 176 49

$751-$1.0M $1.0-$1.5M $1.5M-$2.0M >$2.0M TOTAL

*Median: Half are above and half are below this number

FMLS SF Detached residences data. Data believed to be accurate, but not warranted. Analysis includes previous listing period data where applicable. © 2015 ChartMaster Services, LLC. For exclusive use of participating Keller Williams Realty offices.

Metro Market Overview – 12/31/2015 Provided by Keller Williams Realty Condo/Townhome Residences– Metro Atlanta (41 FMLS Areas)

List Price

Median* No. of ForeTotal Months Original Short Failed Number Number Pending Closings closures Distressed Supply List Price Sale % of Listings (Previous Active Pending Ratio Last 3 % of sales % of of Closings Percent listing Months Closings closings Listings periods

Median* Median* Median % S/L Days on Price Market Sales (Previous (Previous Price Listing Listing Periods Included)

included)

Current Month Only

<=$25K

Periods Included)

Using most recent 3-months of Sales and Failed data to minimize unusual monthly variations

7

14

66.7%

21

57.1%

9.5%

66.7%

25.0%

1.0

$20,000

$16,000

79.7%

64

$26-$50K $51-$75K $76-$100K $101-$150K $151-$200K $201-$250K $251-$300K

49 131 163 398 426 224 179

34 80 112 301 334 188 126

41.0% 37.9% 40.7% 43.1% 43.9% 45.6% 41.3%

49 138 217 642 690 400 311

16.3% 10.9% 5.5% 3.6% 2.0% 1.0% 0.6%

18.4% 15.2% 6.9% 4.4% 2.2% 1.0% 1.0%

34.7% 26.1% 12.4% 7.9% 4.2% 2.0% 1.6%

29.0% 32.0% 29.1% 19.6% 21.5% 20.8% 19.8%

3.0 2.8 2.3 1.9 1.9 1.7 1.7

$42,500 $69,000 $89,900 $130,000 $178,950 $229,700 $276,000

$38,700 $63,700 $85,000 $125,050 $172,000 $223,000 $269,900

92.9% 91.7% 94.4% 96.7% 97.4% 97.9% 98.0%

50 47 35 30 27 26 27

$301-$350K $351-$400K $401-$500K $501-$600K $601-$750K $751-$1.0M

147 102 143 92 94 69

70 66 72 31 43 34

32.3% 39.3% 33.5% 25.2% 31.4% 33.0%

164 108 111 54 30 16

0.6% 0.0% 0.0% 0.0% 0.0% 0.0%

0.0% 1.9% 0.9% 0.0% 0.0% 0.0%

0.6% 1.9% 0.9% 0.0% 6.7% 0.0%

27.4% 24.5% 35.5% 37.9% 49.2% 61.0%

2.7 2.8 3.9 5.1 9.4 12.9

$329,000 $381,000 $448,095 $569,695 $695,000 $827,000

$320,000 $375,000 $430,000 $546,164 $653,375 $787,400

98.2% 97.4% 97.3% 95.8% 95.1% 95.3%

25 31 46 49 63 56

28 9 28 2,289

12 6 1 1,524

30.0% 40.0% 3.4% 40.0%

7 1 8 2,967

0.0% 0.0% 0.0% 3.1%

0.0% 0.0% 0.0% 3.4%

0.0% 0.0% 0.0% 6.5%

68.2% 75.0% 33.3% 24.8%

12.0 $1,165,000 $1,025,000 27.0 $1,699,000 $1,699,000 10.5 $3,151,353 $3,151,353 2.3 $184,900 $177,500

100.0% 100.0% 100.0% 97.1%

182 661 248 31

$1.0-$1.5M $1.5M-$2.0M >$2.0M TOTAL

*Median: Half are above and half are below this number

FMLS Condo/Townhome residences data. Data believed to be accurate, but not warranted. Analysis includes previous listing period data where applicable. © 2015 ChartMaster Services, LLC. For exclusive use of participating Keller Williams Realty offices.

Monthly Trend Analysis Measurements Indications Remarks # Active

# Pending Pending Ratio

May increase and decrease seasonally Should be evaluated along with Solds and Pendings to determine market direction May indicate direction of short term sales, generally, higher numbers are better, more properties going under contract results in better overall market condition Presents a way to evaluate the number of Pendings relative to Actives Higher percentages indicate faster listings turnover and increased overall market activity

# Sold (Previous 3 Months) Foreclosure % (Previous 3 Months)

Increasing sales usually indicate an improving market, as long as it results in a lower supply of listings This percentage needs to be low to result in a healthier market due to its negative impact on prices, DOM and S/L ratios for non-distressed properties This percentage needs to be low to result in a healthier market due to its negative impact on prices, Short Sale % (Previous 3 Months) DOM and S/L ratios for non-distressed properties Total Distressed Property % of This percentage needs to be low to result in a healthier market due to its negative impact on prices, sales (Previous 3 Months) DOM and S/L ratios for non-distressed properties Lower percentages mean a healthier market where prices are in line with Buyer expectations. Failed % (Previous 3 months) Lower percentages may result when Pending Ratios are higher, due to faster turnover of listings Indicator of supply/demand relationship – lower supply should result in improved sales prices, S/L Months of Supply of Listings ratios, DOM Median Original List Price (Previous 3 Mos.) Tracks the tendency to price properties in line with or counter to market conditions Median Sales Price (Previous 3 Tracks Buyer price preference changes – dropping prices indicate price resistance, rising prices Mos.) indicate improved market conditions and overall growth Median S/OL Price Ratio Evaluation of Seller listing price realism – Lower percentages indicate Buyer price resistance and lack (Previous 3 mos.) of acceptance of market reality by Sellers Median Days on Market Tracks the difficulty of attracting acceptable offers – Reflects pricing and condition strategies by Sellers (Previous 3 mos.) as well as degree of price resistance for Buyers FMLS SF Detached residences data. Data believed to be accurate, but not warranted. Analysis includes previous listing period data where applicable. © 2015 ChartMaster Services, LLC. For exclusive use of participating Keller Williams Realty offices.

Yearly Trend Analysis Detached December 2014 # Active

12,322

December 2015 13,093 Slightly Higher (+6.3%) vs. last year

# Pending

5,506

5,782 Higher (+5.0%) vs. last year

Pending Ratio

30.9%

30.6% Nearly flat (-.3 points) compared to last year

# Sold (Previous 3 Months) Foreclosure % (Previous 3 Months)

10,030 6.6%

4.0% Lower compared to last year (-2.8 percentage points)

4.9%

4.3% Somewhat lower Short Sales (-.6 percentage points)

Short Sale % (Previous 3 Months) Total Distressed Property % of sales (Previous 3 Months)

11.6%

Failed % (Previous 3 months)

38.9%

Months of Supply of Listings Median Original List Price (Previous 3 Mos.) Median Sales Price (Previous 3 Mos.) Median S/OL Price Ratio (Previous 3 mos.) Median Days on Market (Previous 3 mos.)

10,984 Somewhat higher compared to last year (+9.5%)

3.7 $229,900 $215,000 95.0% 56

8.2% Continued down (-3.4 percentage points) from last year 36.1% Slightly lower than last year (-2.8 percentage points) 3.6 Nearly flat (-2.7% lower), -.1 months, compared to last year Higher OLP (+11.4%) compared to last year, still rising due to

$236,125 continued low supply

+4.7% Higher than last year, continuing a trend of higher median $225,000 sales prices in a low-supply environment Slightly improved (+.9 percentage points) – lower supply helping 95.9% sellers maintain sales price closer to listing price

49 Slightly lower (-12.5%) compared to last year

FMLS SF Detached residences data. Data believed to be accurate, but not warranted. Analysis includes previous listing period data where applicable. © 2015 ChartMaster Services, LLC. For exclusive use of participating Keller Williams Realty offices.

Yearly Trend Analysis Condo/Townhomes December 2014

December 2015 Remarks

# Active

2,374

2,289

Lower (-3.6%) compared to last year

# Pending

1,018

1,524

Much Higher (+49.7%) compared to last year

Pending Ratio

30.0%

40.0% fewer Actives and higher Pending listings compared to last year

# Sold (Previous 3 Months) Foreclosure % (Previous 3 Months)

2,694

2,967

6.4%

3.1%

4.3%

3.4%

Short Sale % (Previous 3 Months) Total Distressed Property % of sales (Previous 3 Months)

10.7%

Failed % (Previous 3 months)

26.1%

Months of Supply of Listings Median Original List Price (Previous 3 Mos.) Median Sales Price (Previous 3 Mos.) Median S/OL Price Ratio (Previous 3 mos.) Median Days on Market (Previous 3 mos.)

2.6 $172,500 $165,000 96.2% 37

Higher compared to last year (+10.0 percentage points) due to

Somewhat higher compared to last year (+10.1%) Lower again compared to last year (-3.3 percentage points)

Sharply reduced Short Sales (-.9 percentage points) Down substantially (-4.2 percentage points) from last year 6.5% continuing the decline in these types of transactions

24.8%

Slightly lower compared to last year (-1.3 percentage points) Very low supply, down again compared to last year, -.3 months (2.3 11.5 %)

$184,900

Higher OLP (+7.2%) compared to last year +7.8% Higher than last year, continuing a trend of higher median $177,500 sales prices Slightly higher (+.9 percentage points higher) – low supply helping 97.1% sellers maintain sales price closer to listing price

31

Lower (-16.2%) compared to last year

FMLS SF Detached residences data. Data believed to be accurate, but not warranted. Analysis includes previous listing period data where applicable. © 2015 ChartMaster Services, LLC. For exclusive use of participating Keller Williams Realty offices.

Recent Trend Analysis Detached 6 MONTHS TREND Report Date

Jul-15

# Active

15,781

Aug-15 15,694

Sep-15 15,322

Oct-15

Nov-15

Dec-15

14,965

13,984

13,093

# Pending

8,047

7,621

7,150

6,603

6,930

5,782

Pending Ratio

33.8%

32.7%

31.8%

30.6%

33.1%

30.6%

14,641

15,584

15,454

14,211

12,652

10,984

% Foreclosed

4.5%

3.8%

3.8%

3.5%

4.0%

4.0%

% Short Sale

2.8%

2.5%

4.1%

4.7%

5.6%

4.3%

% Distressed

7.3%

6.3%

7.9%

8.2%

9.5%

8.2%

25.3%

25.1%

28.2%

31.1%

34.0%

36.1%

3.2

3.0

3.0

3.2

3.3

3.6

# Sold Previous 3 Mos.

% Failed Supply in Months Med. Orig. List Price

$250,000 $250,000

$249,900 $242,900

$238,000 $236,125

Med. Sale Price

$240,000 $243,000

$238,000 $232,500

$225,000 $225,000

Med. % Sale/Orig. LP Med. DOM

96.7%

96.8%

96.6%

96.3%

96.0%

95.9%

43

38

38

40

45

49

TREND

FMLS SF Detached residences data. Data believed to be accurate, but not warranted. Analysis includes previous listing period data where applicable. © 2015 ChartMaster Services, LLC. For exclusive use of participating Keller Williams Realty offices.

Recent Trend Analysis Condos/Townhomes LAST 6 MONTHS TREND Report Date

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

# Active

2,714

2,733

2,676

2,558

2,289

# Pending

1,897

2,722 1,993

1,903

1,745

1,790

1,524

Pending Ratio

41.1%

41.0%

39.5%

41.2%

40.0%

# Sold

3,653

42.3% 3,676

3,512

3,345

3,205

2,967

% Foreclosed

3.3%

3.3%

3.3%

3.3%

3.0%

3.1%

% Short Sale

1.7%

1.8%

2.0%

4.8%

3.4%

% Distressed

5.0%

1.7% 5.0%

5.1%

5.3%

7.8%

6.5%

18.1% 2.2

20.5%

21.8%

24.0%

24.8%

2.3

2.4

2.4

2.3

185,631 181,000

$185,000

$185,000

$182,900

$184,900

$180,000

$180,000

$176,000

$177,500

97.3% 28

97.2%

97.2%

97.1%

97.1%

27

28

29

31

% Failed Supply

17.7% 2.2

OLP

$185,000

Sale Price

$180,000

% S/L

97.3%

DOM

31

Dec-15 TREND

FMLS Condo/Townhome residences data. Data believed to be accurate, but not warranted. Analysis includes previous listing period data where applicable. © 2015 ChartMaster Services, LLC. For exclusive use of participating Keller Williams Realty offices.

Recent Trend Analysis Detached Distressed Properties Percent of Sales July

August

September October November December

<=$25K

24.0%

25.0%

34.1%

32.9%

38.2%

32.9%

$26-$50K

38.8%

36.8%

40.2%

39.6%

43.0%

38.9%

$51-$75K

38.9%

35.1%

34.1%

32.3%

33.4%

39.2%

$76-$100K

30.6%

25.2%

26.5%

25.8%

30.6%

28.3%

$101-$150K

15.6%

13.9%

14.0%

13.8%

13.8%

13.4%

$151-$200K

6.6%

5.9%

8.0%

8.2%

8.5%

7.2%

$201-$250K

4.3%

3.8%

4.9%

4.9%

6.6%

5.4%

$251-$300K

2.7%

2.1%

3.6%

4.5%

5.3%

3.6%

$301-$350K

1.4%

0.9%

3.0%

3.8%

4.6%

2.6%

$351-$400K

1.8%

1.6%

3.9%

4.2%

5.2%

2.5%

$401-$500K

1.8%

1.3%

3.0%

3.5%

4.6%

2.4%

$501-$600K

0.7%

0.7%

2.7%

3.3%

4.5%

2.6%

$601-$750K

0.2%

0.2%

1.7%

2.3%

3.1%

1.2%

$751-$1.0M

0.8%

0.5%

2.4%

2.5%

3.4%

1.8%

$1.0-$1.5M

2.9%

1.6%

1.5%

1.2%

2.3%

1.7%

$1.5M-$2.0M

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

>$2.0M

0.0%

2.3%

2.4%

2.6%

0.0%

0.0%

TOTAL

7.3%

6.3%

7.9%

8.2%

9.5%

8.2%

Remarks

FMLS SF Detached residences data. Data believed to be accurate, but not warranted. Analysis includes previous listing period data where applicable. © 2015 ChartMaster Services, LLC. For exclusive use of participating Keller Williams Realty offices.

Monthly Trend Analysis Condo/Townhome Sales & Actives October Sales

November December Sales Sales

October Actives

November December Actives Actives

October November December Distressed Distressed Distressed

<=$25K

18

25

21

16

15

7

71.4%

60.0%

66.7%

$26-$50K

69

63

49

58

57

49

42.0%

44.4%

34.7%

$51-$75K

150

135

138

152

143

131

25.8%

28.1%

26.1%

$76-$100K

238

231

217

199

187

163

12.9%

14.3%

12.4%

$101-$150K

728

713

642

466

468

398

9.3%

8.7%

7.9%

$151-$200K

764

759

690

511

476

426

6.5%

5.3%

4.2%

$201-$250K

458

442

400

273

242

224

5.2%

4.3%

2.0%

$251-$300K

338

319

311

208

202

179

4.4%

2.2%

1.6%

$301-$350K

206

167

164

163

155

147

1.5%

0.6%

0.6%

$351-$400K

124

105

108

109

101

102

2.4%

1.0%

1.9%

$401-$500K

125

128

111

175

177

143

4.8%

2.3%

0.9%

$501-$600K

53

52

54

113

108

92

3.8%

1.9%

0.0%

$601-$750K

29

32

30

96

95

94

6.9%

6.3%

6.7%

$751-$1.0M

21

17

16

67

66

69

4.8%

0.0%

0.0%

$1.0-$1.5M $1.5M$2.0M

10

8

7

31

27

28

0.0%

0.0%

0.0%

6

2

1

11

10

9

16.7%

0.0%

0.0%

8

7

8

28

29

28

0.0%

0.0%

0.0%

3,345

3,205

2,967

2,676

2,558

2,289

8.6%

7.8%

6.5%

>$2.0M TOTAL

FMLS Condo/Townhome residences data. Data believed to be accurate, but not warranted. Analysis includes previous listing period data where applicable. © 2015 ChartMaster Services, LLC. For exclusive use of participating Keller Williams Realty offices.

Recent Trend Analysis Detached Properties Months Supply July

August

September October

November December

Remarks

<=$25K

2.4

2.4

2.7

3.0

2.5

2.6

$26-$50K

3.5

3.8

3.6

3.5

3.2

3.2

$51-$75K

3.5

3.3

2.9

3.3

3.4

3.5

$76-$100K

2.8

3.0

2.8

3.3

3.5

3.6

$101-$150K

2.5

2.5

2.3

2.3

2.3

2.5

$151-$200K

2.3

2.2

2.0

2.0

2.1

2.1

$201-$250K

2.7

2.5

2.5

2.6

2.6

2.6

$251-$300K

2.7

2.6

2.7

2.8

3.0

3.1

$301-$350K

2.9

2.7

2.7

2.9

3.1

3.1

$351-$400K

3.3

2.9

3.1

3.3

3.6

3.6

$401-$500K

3.7

3.4

3.5

3.6

4.1

4.3

$501-$600K

4.5

4.1

4.1

5.0

5.3

8.8

$601-$750K

5.5

4.7

4.5

5.1

5.7

6.8

$751-$1.0M

7.1

6.2

6.7

7.6

8.8

9.4

Now A Buyer’s Mkt.

$1.0-$1.5M

10.4

9.3

8.8

10.9

12.1

12.7

$1.5M-$2.0M

15.1

11.3

9.8

11.9

14.1

16.1

Consistent Buyer’s Market

>$2.0M

17.3

18.4

19.5

20.7

22.6

23.6

3.3

3.0

3.0

3.2

3.3

3.6

TOTAL

Consistent Seller’s Market

Currently Changed Market

FMLS SF Detached residences data. Data believed to be accurate, but not warranted. Analysis includes previous listing period data where applicable. © 2015 ChartMaster Services, LLC. For exclusive use of participating Keller Williams Realty offices.

Recent Trend Analysis Condo/Townhome Properties Supply July

August

September October November December

Remarks

<=$25K

2.1

2.6

2.4

2.7

1.8

1.0

$26-$50K

2.4

2.4

2.4

2.5

2.7

3.0

$51-$75K

2.5

2.5

2.8

3.0

3.2

2.8

$76-$100K

2.4

2.6

2.6

2.5

2.4

2.3

$101-$150K

1.8

1.7

1.8

1.9

2.0

1.9

$151-$200K

2.0

2.0

2.0

2.0

1.9

1.9

$201-$250K

1.8

1.9

1.8

1.8

1.6

1.7

$251-$300K

1.9

1.9

1.9

1.8

1.9

1.7

$301-$350K

2.2

2.0

2.6

2.4

2.8

2.7

$351-$400K

2.3

2.3

2.4

2.6

2.9

2.8

$401-$500K

3.4

3.6

4.5

4.2

4.1

3.9

$501-$600K

4.3

4.5

4.9

6.4

6.2

5.1

Consistent Seller’s Market

$601-$750K

4.4

4.7

6.3

9.9

8.9

9.4

Balanced-to-Buyer’s

$751-$1.0M

8.2

8.1

11.1

9.6

11.6

12.9

$1.0-$1.5M

6.0

6.6

7.3

9.3

10.1

12.0

$1.5M-$2.0M

12.0

4.7

4.3

5.5

15.0

27.0

>$2.0M

19.5

12.0

17.4

10.5

12.4

10.5

2.2

2.2

2.3

2.4

2.4

2.3

TOTAL

Very Low Supply, Often <2 Months

Volatile due to fewer Sales, Mostly a Buyer’s Market

FMLS SF Detached residences data. Data believed to be accurate, but not warranted. Analysis includes previous listing period data where applicable. © 2015 ChartMaster Services, LLC. For exclusive use of participating Keller Williams Realty offices.