Monthly Indicators + 1.4% + 6.4% % Activity Overview New Listings Pending Sales. Closed Sales. Days on Market Until Sale. Median Sales Price

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1 Monthly Indicators 2018 Last year, U.S. consumers seemed to be operating with a renewed but cautious optimism. The stock market was strong, wages were edging upwards and home buying activity was extremely competitive. Not much has changed in 2018 in terms of those measures, yet there is a sort of seasoned prudence mixed into the high emotions that go with a major expense like a home purchase. We are now several years deep into a period of rising prices and low inventory. Those in the market to buy a home have caught on. As sellers attempt take advantage of rising prices, expect buyers to be more selective. New Listings were down 5.2 percent to 163. Pending Sales increased percent to 156. Inventory shrank 23.4 percent to 1,136 units. Prices moved higher as the Median Sales Price was up 6.4 percent to $215,000. Days on Market increased 18.5 percent to 141 days. Months Supply of Inventory was down 32.4 percent to 9.4 months. Whatever external forces are placed upon residential real estate markets across the country whether they are related to tax legislation, mortgage rates, employment situation changes, new family formations, the availability of new construction and the like the appetite for home buying remains strong enough to drive prices upward in virtually all markets across the country. New sales are not necessarily following that trend, but monthly increases are expected until at least late summer. Activity Snapshot + 1.4% + 6.4% % One-Year Change in Closed Sales One-Year Change in Median Sales Price Activity Overview New Listings Pending Sales Closed Sales Days on Market Until Sale Median Sales Price Average Sales Price Percent of List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory One-Year Change in Homes for Sale Residential activity in Columbia, Dutchess and Greene counties, comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures

2 Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars Percent Change YTD 2017 YTD 2018 Percent Change New Listings % % Pending Sales % % Closed Sales % % Days on Market % % Median Sales Price $202,000 $215, % $202,000 $215, % Avg. Sales Price $273,561 $233, % $273,561 $233, % Pct. of List Price Received 94.7% 94.2% - 0.5% 94.7% 94.2% - 0.5% Affordability Index % % Homes for Sale 1,483 1, % Months Supply %

3 New Listings A count of the properties that have been newly listed on the market in a given month % - 4.4% - 5.2% + 1.7% - 4.4% % New Listings February % March % April % May % June % July % August % September % October % November % December % % 12-Month Avg % Historical New Listings by Month

4 Pending Sales A count of the properties on which offers have been accepted in a given month % % % % % % Pending Sales February % March % April % May % June % July % August % September % October % November % December % % 12-Month Avg % Historical Pending Sales by Month

5 Closed Sales A count of the actual sales that closed in a given month % + 4.2% + 1.4% -6.6% + 4.2% % Closed Sales February % March % April % May % June % July % August % September % October % November % December % % 12-Month Avg % Historical Closed Sales by Month

6 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 % % % % % % Days on Market February % March % April % May % June % July % August % September % October % November % December % % 12-Month Avg* % Historical Days on Market Until Sale by Month * Average Days on Market of all properties from February 2017 through This is not the average of the individual figures above

7 Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month. $217,500 $202,000 $215,000 $217,500 $202, % - 7.1% + 6.4% % - 7.1% $215, % Median Sales Price February 2017 $197,500 $189, % March 2017 $245,000 $202, % April 2017 $237,500 $195, % May 2017 $229,000 $212, % June 2017 $242,000 $208, % July 2017 $230,000 $219, % August 2017 $227,500 $194, % September 2017 $227,500 $199, % October 2017 $205,000 $215, % November 2017 $192,000 $214, % December 2017 $239,500 $205, % 2018 $215,000 $202, % 12-Month Med* $222,000 $205, % Historical Median Sales Price by Month * Median Sales Price of all properties from February 2017 through This is not the average of the individual figures above. $260,000 $240,000 $220,000 $200,000 $180,000 $160,

8 Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $297,478 $273,561 $233,266 $297,478 $273, % - 8.0% % -2.4% - 8.0% $233, % Avg. Sales Price February 2017 $301,213 $236, % March 2017 $371,251 $265, % April 2017 $327,426 $246, % May 2017 $276,179 $303, % June 2017 $300,189 $260, % July 2017 $298,951 $298, % August 2017 $278,069 $270, % September 2017 $321,713 $265, % October 2017 $250,242 $333, % November 2017 $253,314 $278, % December 2017 $317,170 $339, % 2018 $233,266 $273, % 12-Month Avg* $290,671 $281, % Historical Average Sales Price by Month * Avg. Sales Price of all properties from February 2017 through This is not the average of the individual figures above. $400,000 $350,000 $300,000 $250,000 $200,000 $150,

9 Percent of List Price Received Percentage found when dividing a property s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. 93.7% 94.7% 94.2% 93.7% 94.7% 94.2% + 1.4% + 1.1% - 0.5% + 1.4% + 1.1% -0.5% Pct. of List Price Received February % 96.1% -1.6% March % 92.0% +1.4% April % 93.3% -0.1% May % 94.4% +2.0% June % 93.6% +1.6% July % 94.7% +0.1% August % 94.6% +1.0% September % 93.4% +1.1% October % 94.7% -0.4% November % 93.0% +0.3% December % 93.9% +0.5% % 94.7% -0.5% 12-Month Avg* 94.5% 94.0% +0.5% Historical Percent of List Price Received by Month * Average Pct. of List Price Received for all properties from February 2017 through This is not the average of the individual figures above. 98% 96% 94% 92% 90% 88%

10 Housing Affordability Index This index measures housing affordability for the region. For example, an index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability % + 5.6% - 4.8% % + 5.6% % Affordability Index February % March % April % May % June % July % August % September % October % November % December % % 12-Month Avg % Historical Housing Affordability Index by Month

11 Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. 1,631 1,483 1, % - 9.1% % Homes for Sale February ,466 1, % March ,487 1, % April ,545 1, % May ,642 1, % June ,720 2, % July ,755 2, % August ,776 2, % September ,743 2, % October ,615 1, % November ,472 1, % December ,249 1, % ,136 1, % 12-Month Avg 1,551 1, % Historical Inventory of Homes for Sale by Month 2,500 2,250 2,000 1,750 1,500 1,250 1,

12 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 % % % Months Supply February % March % April % May % June % July % August % September % October % November % December % % 12-Month Avg % Historical Months Supply of Inventory by Month