Monthly Snapshot

23456789

101112131415Total Market Overview

Monthly Indicators

November 2018

+ 1.8% - 8.5%One-Year Change in

Closed SalesAll Properties

New Listings

Single Family Market OverviewTownhouse-Condo Market OverviewAdult Community Market Overview

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime.

One-Year Change in Homes for SaleAll Properties

One-Year Change in Median Sales Price

All Properties

+ 5.8%

Pending SalesClosed Sales

The booming U.S. economy continues to prop up home sales and new listings in much of the nation, although housing affordability remains a concern. Historically, housing is still relatively affordable. Although Freddie Mac recently reported that the 30-year fixed rate is at its highest average in seven years, reaching 4.94 percent, average rates were 5.97 percent ten years ago, 6.78 percent 20 years ago and 10.39 percent 30 years ago. Nevertheless, affordability concerns are causing a slowdown in home price growth in some markets, while price reductions are becoming more common.

• Single Family Closed Sales were up 4.6 percent to 1,843. • Townhouse-Condo Closed Sales were down 6.2 percent to 391. • Adult Communities Closed Sales were down 36.6 percent to 26.

• Single Family Median Sales Price increased 4.6 percent to $365,000. • Townhouse-Condo Median Sales Price decreased 3.5 percent to $251,750. • Adult Communities Median Sales Price decreased 2.5 percent to $331,500.

The Bureau of Labor Statistics recently reported that the national unemployment rate was at 3.7 percent. Low unemployment has helped the housing industry during this extensive period of U.S. economic prosperity. Home buying and selling activity relies on gainful employment. It also relies on demand, and builders are showing caution by breaking ground on fewer single-family home construction projects in the face of rising mortgage rates and fewer showings.

For residential real estate activity in Essex, Hunterdon, Morris, Somerset, Sussex, Union and Warren Counties. Percent changes are calculated using rounded figures.

Median Sales PriceAverage Sales PricePercent of List Price ReceivedDays on Market Until SaleHousing Affordability IndexInventory of Homes for SaleMonths Supply of Inventory

Single Family Market Overview

Key Metrics Historical Sparklines 11-2017 11-2018 Percent Change YTD 2017 YTD 2018 Percent Change

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 2

--

Months Supply 4.8 4.4 - 8.3% -- -- --

Homes for Sale 9,069 8,347 - 8.0% -- --

- 9.0%

Affordability Index 132 119 - 9.8% 127 116 - 8.7%

Days on Market 66 62 - 6.1% 67 61

+ 1.6%

Pct. of List Price Received 98.4% 98.5% + 0.1% 98.5% 98.7% + 0.2%

Avg. Sales Price $419,072 $447,193 + 6.7% $448,626 $455,854

- 0.1%

Median Sales Price $349,000 $365,000 + 4.6% $365,000 $374,500 + 2.6%

Closed Sales 1,762 1,843 + 4.6% 21,092 21,071

Key metrics for Single Family Properties Only, excluding Manufactured Housing, for the report month and for year-to-date (YTD) starting from the first of the year.

35,316 + 3.1%

Pending Sales 1,654 1,713 + 3.6% 21,598 21,625 + 0.1%

34,246New Listings 2,018 2,130 + 5.6%

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

Townhouse-Condo Market Overview

Key Metrics Historical Sparklines 11-2017 11-2018 Percent Change YTD 2017 YTD 2018 Percent Change

6,710 + 1.2%

Pending Sales 386 379 - 1.8% 4,740 4,775 + 0.7%

6,630New Listings 471 425 - 9.8%

Closed Sales 417 391 - 6.2% 4,616 4,704 + 1.9%

+ 2.0%

98.1%

$294,401 + 1.1%

Median Sales Price $260,750 $251,750 - 3.5% $255,000 $260,000

Avg. Sales Price $298,773 $286,052 - 4.3% $291,157

167

+ 0.4%

Days on Market 60 55 - 8.3% 63 55 - 12.7%

Pct. of List Price Received 97.5% 98.0% + 0.5% 97.7%

Affordability Index 177 173 - 2.3% 181

- 14.0% -- -- --

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

--Months Supply 3.8 3.2 - 15.8% -- --

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 3

- 7.7%

Homes for Sale 1,596 1,372

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

Adult Community Market Overview

Key Metrics Historical Sparklines 11-2017 11-2018 Percent Change YTD 2017 YTD 2018 Percent Change

Key metrics for properties in Adult Communities Only for the report month and for year-to-date (YTD) starting from the first of the year.

614 - 2.2%

Pending Sales 42 44 + 4.8% 487 420 - 13.8%

628New Listings 36 58 + 61.1%

Closed Sales 41 26 - 36.6% 462 426 - 7.8%

+ 5.0%

$403,026 + 7.4%

Median Sales Price $340,000 $331,500 - 2.5% $332,000 $348,700

Avg. Sales Price $407,397 $372,846 - 8.5% $375,388

+ 0.9%

Days on Market 73 47 - 35.6% 80 64 - 20.0%

Pct. of List Price Received 98.3% 97.3% - 1.0% 97.5% 98.4%

- 10.1%

Homes for Sale 153 176 + 15.0% -- -- --

Affordability Index 136 131 - 3.7% 139 125

--Months Supply 3.5 4.7 + 34.3% -- --

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 4

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

11-2015 11-2016 11-2017 11-2018

New Listings

Historical New Listings by Month Single Family Townhouse-Condo Adult Communities

December 2017 1,394 275 31

January 2018 2,510 518 48

February 2018 2,956 587 51

March 2018 3,254 667 48

April 2018 4,085 742 57

May 2018 4,373 742 67

June 2018 3,809 679 49

July 2018 3,193 606 43

August 2018 2,819 568 53

September 2018 3,199 598 76

October 2018 2,988 578 64

November 2018 2,130 425 58

12-Month Avg. 3,059 582 54 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.

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

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 5

1,959

416

50

2,018

471

36

2,130

425

58

Single Family Townhouse-Condo Adult Communities

November

0

1,000

2,000

3,000

4,000

5,000

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018

Single Family Townhouse-Condo Adult Communities

33,584

6,646

717

34,246

6,630

628

35,316

6,710

614

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

- 9.8%+ 13.2%+ 5.6%+ 3.0% - 0.2%+ 3.1%+ 2.0% + 1.2%

2016 2017 2018 2016 2017 2018 2016 2017 2018

+ 5.0% + 0.2% - 3.1%- 5.2% + 61.1%- 28.0%2016 2017 2018

+ 2.0% - 2.2%- 12.4%2016 2017 2018

+ 8.1%

Pending Sales

Historical Pending Sales by Month Single Family Townhouse-Condo Adult Communities

December 2017 1,283 323 30

January 2018 1,395 321 29

February 2018 1,683 420 35

March 2018 2,078 488 34

April 2018 2,224 476 37

May 2018 2,475 525 42

June 2018 2,388 485 38

July 2018 2,107 455 52

August 2018 1,980 424 34

September 2018 1,644 376 33

October 2018 1,938 426 42

November 2018 1,713 379 44

12-Month Avg. 1,909 425 38 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 6

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

1,542

335

35

1,654

386

42

1,713

379

44

Single Family Townhouse-Condo Adult Communities

November

0

500

1,000

1,500

2,000

2,500

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018

Single Family Townhouse-Condo Adult Communities

19,977

4,456

439

21,598

4,740

487

21,625

4,775

420

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

- 1.8%+ 15.2%+ 3.6%+ 7.3% + 6.4%+ 0.1%+ 8.1% + 0.7%

2016 2017 2018 2016 2017 2018 2016 2017 2018

+ 15.3% + 11.7% + 4.9%+ 5.0% + 4.8%+ 20.0%2016 2017 2018

+ 66.7% - 13.8%+ 10.9%2016 2017 2018

+ 6.3%

Closed Sales

Historical Closed Sales by Month Single Family Townhouse-Condo Adult Communities

December 2017 1,823 412 41

January 2018 1,445 339 35

February 2018 1,220 280 32

March 2018 1,463 398 40

April 2018 1,745 413 29

May 2018 2,016 459 48

June 2018 2,573 588 43

July 2018 2,515 508 40

August 2018 2,609 523 50

September 2018 1,761 390 37

October 2018 1,881 415 46

November 2018 1,843 391 26

12-Month Avg. 1,908 426 39 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 7

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

1,701

379

37

1,762

417

41

1,843

391

26

Single Family Townhouse-Condo Adult Communities

November

0

500

1,000

1,500

2,000

2,500

3,000

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018

Single Family Townhouse-Condo Adult Communities

19,164

4,354

419

21,092

4,616

462

21,071

4,704

426

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

- 6.2%+ 10.0%+ 4.6%+ 3.6% + 6.0%- 0.1%+ 10.1% + 1.9%

2016 2017 2018 2016 2017 2018 2016 2017 2018

+ 27.5% + 12.1% + 6.3%+ 29.4% - 36.6%+ 10.8%2016 2017 2018

+ 48.0% - 7.8%+ 10.3%2016 2017 2018

+ 6.3%

Median Sales Price

Historical Median Sales Price by Month Single Family Townhouse-Condo Adult Communities

December 2017 $345,000 $265,000 $340,000

January 2018 $327,000 $253,500 $320,000

February 2018 $315,000 $242,000 $317,500

March 2018 $343,250 $240,000 $372,000

April 2018 $360,000 $265,000 $415,000

May 2018 $370,000 $270,000 $355,000

June 2018 $408,000 $276,250 $341,000

July 2018 $420,000 $278,250 $345,000

August 2018 $408,250 $268,500 $347,500

September 2018 $365,000 $245,000 $288,000

October 2018 $354,000 $249,950 $380,000

November 2018 $365,000 $251,750 $331,500

12-Month Med.* $370,000 $260,000 $345,000 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.

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

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 8

* Median Sales Price for all properties from December 2017 through November 2018. This is not the average of the individual figures above.

$341,000

$245,000

$289,000

$349,000

$260,750

$340,000$365,000

$251,750

$331,500

Single Family Townhouse-Condo Adult Communities

November

$100,000

$200,000

$300,000

$400,000

$500,000

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018

Single Family Townhouse-Condo Adult Communities

$369,500

$254,750

$332,000

$365,000

$255,000

$332,000

$374,500

$260,000

$348,700

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

- 3.5%+ 6.4%+ 4.6%+ 2.3% + 0.1%+ 2.6%- 1.2% + 2.0%

2016 2017 2018 2016 2017 2018 2016 2017 2018

+ 0.3% - 1.5% - 2.0%- 3.2% - 2.5%+ 17.6%2016 2017 2018

- 16.0% + 5.0%0.0%2016 2017 2018

- 2.3%

Average Sales Price

Historical Average Sales Price by Month Single Family Townhouse-Condo Adult Communities

December 2017 $444,358 $293,059 $381,998

January 2018 $419,431 $285,035 $467,786

February 2018 $390,216 $265,621 $380,874

March 2018 $427,292 $284,159 $408,546

April 2018 $446,168 $295,652 $474,606

May 2018 $460,275 $302,762 $391,397

June 2018 $492,103 $306,951 $387,352

July 2018 $502,940 $315,156 $401,991

August 2018 $490,182 $295,682 $386,416

September 2018 $434,476 $285,964 $374,580

October 2018 $421,141 $291,768 $404,916

November 2018 $447,193 $286,052 $372,846

12-Month Avg.* $454,939 $294,293 $401,180 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.

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

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 9

* Avg. Sales Price for all properties from December 2017 through November 2018. This is not the average of the individual figures above.

$411,640

$279,780 $287,395

$419,072

$298,773

$407,397

$447,193

$286,052

$372,846

Single Family Townhouse-Condo Adult Communities

November

$200,000

$300,000

$400,000

$500,000

$600,000

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018

Single Family Townhouse-Condo Adult Communities

$451,879

$289,898

$359,780

$448,626

$291,157

$375,388

$455,854

$294,401

$403,026

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

- 4.3%+ 6.8%+ 6.7%+ 1.8% + 0.4%+ 1.6%- 0.7% + 1.1%

2016 2017 2018 2016 2017 2018 2016 2017 2018

- 2.5% - 2.8% - 0.6%- 3.6% - 8.5%+ 41.8%2016 2017 2018

- 22.1% + 7.4%+ 4.3%2016 2017 2018

+ 0.1%

Percent of List Price Received

Historical Percent of List Price Received by Month Single Family Townhouse-Condo Adult Communities

December 2017 98.1% 97.5% 97.4%

January 2018 98.3% 97.5% 96.7%

February 2018 97.6% 98.0% 98.1%

March 2018 98.4% 97.7% 100.2%

April 2018 98.8% 98.1% 98.3%

May 2018 99.1% 98.1% 99.2%

June 2018 99.3% 98.5% 98.0%

July 2018 99.2% 98.8% 99.2%

August 2018 99.0% 98.1% 98.5%

September 2018 98.4% 97.9% 98.8%

October 2018 98.4% 98.3% 97.9%

November 2018 98.5% 98.0% 97.3%

12-Month Avg.* 98.7% 98.1% 98.4% Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.

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.

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 10

* Pct. of List Price Received for all properties from December 2017 through November 2018. This is not the average of the individual figures above.

97.7%96.7%

95.8%

98.4%97.5%

98.3%98.5% 98.0%97.3%

Single Family Townhouse-Condo Adult Communities

November

92.0%

94.0%

96.0%

98.0%

100.0%

102.0%

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018

Single Family Townhouse-Condo Adult Communities

97.5% 97.1% 97.2%

98.5%97.7% 97.5%

98.7%98.1% 98.4%

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

+ 0.5%+ 0.8%+ 0.1%+ 0.7% + 0.6%+ 0.2%+ 1.0% + 0.4%

2016 2017 2018 2016 2017 2018 2016 2017 2018

+ 1.3% + 0.3% + 0.1%- 0.4% - 1.0%+ 2.6%2016 2017 2018

- 1.8% + 0.9%+ 0.3%2016 2017 2018

0.0%

Days on Market Until Sale

Historical Days on Market Until Sale by Month Single Family Townhouse-Condo Adult Communities

December 2017 73 61 85

January 2018 71 65 85

February 2018 78 68 76

March 2018 70 62 69

April 2018 62 53 54

May 2018 60 56 59

June 2018 54 45 66

July 2018 52 52 57

August 2018 55 56 61

September 2018 61 56 65

October 2018 65 54 63

November 2018 62 55 47

12-Month Avg.* 62 56 66 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.

Average number of days between when a property is listed and when an offer is accepted in a given month.

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 11

* Days on Market for all properties from December 2017 through November 2018. This is not the average of the individual figures above.

73 7380

6660

73

6255

47

Single Family Townhouse-Condo Adult Communities

November

25

50

75

100

125

150

175

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018

Single Family Townhouse-Condo Adult Communities

7569

84

6763

80

6155

64

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

- 8.3%- 17.8%- 6.1%- 9.6% - 8.7%- 9.0%- 10.7% - 12.7%

2016 2017 2018 2016 2017 2018 2016 2017 2018

- 8.8% - 2.6% - 5.5%+ 7.4% - 35.6%- 8.8%2016 2017 2018

+ 21.2% - 20.0%- 4.8%2016 2017 2018

+ 6.3%

Housing Affordability Index

Historical Housing Affordability Index by Month Single Family Townhouse-Condo Adult Communities

December 2017 132 172 134

January 2018 135 174 138

February 2018 140 182 139

March 2018 128 183 118

April 2018 120 163 104

May 2018 117 160 122

June 2018 107 157 128

July 2018 104 156 126

August 2018 107 162 125

September 2018 119 178 151

October 2018 123 174 114

November 2018 119 173 131

12-Month Avg.* 121 170 128 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 12

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

* Affordability Index for all properties from December 2017 through November 2018. This is not the average of the individual figures above.

128

178

151

132

177

136119

173

131

Single Family Townhouse-Condo Adult Communities

November

75

100

125

150

175

200

225

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018

Single Family Townhouse-Condo Adult Communities

118

171

131127

181

139

116

167

125

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

- 2.3%- 0.6%- 9.8%+ 3.1% + 5.8%- 8.7%+ 7.6% - 7.7%

2016 2017 2018 2016 2017 2018 2016 2017 2018

- 2.3% 0.0% 0.0%+ 1.7% - 3.7%- 9.9%2016 2017 2018

+ 17.1% - 10.1%+ 6.1%2016 2017 2018

0.0%

Inventory of Homes for Sale

Historical Inventory of Homes for Sale by Month Single Family Townhouse-Condo Adult Communities

December 2017 7,729 1,366 136

January 2018 7,830 1,425 142

February 2018 8,237 1,453 148

March 2018 8,528 1,466 157

April 2018 9,414 1,613 160

May 2018 10,288 1,684 174

June 2018 10,536 1,682 172

July 2018 10,402 1,668 149

August 2018 9,911 1,586 154

September 2018 10,050 1,590 179

October 2018 9,506 1,524 178

November 2018 8,347 1,372 176

12-Month Avg. 9,232 1,536 160 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.

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

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 13

10,270

1,767270

9,069

1,596153

8,347

1,372176

Single Family Townhouse-Condo Adult Communities

November

0

2,500

5,000

7,500

10,000

12,500

15,000

17,500

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018

Single Family Townhouse-Condo Adult Communities

2016 2017 2018- 14.0%- 9.7%- 8.0%- 11.7%

2016 2017 2018- 13.0% - 16.5% + 15.0%- 43.3%

2016 2017 2018+ 3.1%

Months Supply of Inventory

Historical Months Supply of Inventory by Month Single Family Townhouse-Condo Adult Communities

December 2017 4.1 3.2 3.2

January 2018 4.1 3.4 3.4

February 2018 4.3 3.4 3.5

March 2018 4.5 3.5 3.8

April 2018 4.9 3.8 3.9

May 2018 5.4 4.0 4.3

June 2018 5.6 4.0 4.4

July 2018 5.5 3.9 3.7

August 2018 5.2 3.7 4.1

September 2018 5.3 3.7 4.8

October 2018 5.0 3.6 4.8

November 2018 4.4 3.2 4.7

12-Month Avg.* 4.8 3.6 4.0 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.

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.

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 14

* Months Supply for all properties from December 2017 through November 2018. This is not the average of the individual figures above.

5.8

4.4

6.9

4.83.8 3.5

4.4

3.2

4.7

Single Family Townhouse-Condo Adult Communities

November

0

5

10

15

20

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018

Single Family Townhouse-Condo Adult Communities

2016 2017 2018- 15.8%- 13.6%- 8.3%- 17.2%

2016 2017 2018- 22.7% - 21.4% + 34.3%- 49.3%

2016 2017 2018- 5.5%

Total Market Overview

Key Metrics Historical Sparklines 11-2017 11-2018 Percent Change YTD 2017 YTD 2018 Percent Change

--Months Supply 4.6 4.2 - 8.7% -- --

Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 15

- 8.1%

Homes for Sale 10,818 9,895 - 8.5% -- -- --

Affordability Index 142 126 - 11.3% 136 125

+ 0.2%

Days on Market 65 61 - 6.2% 66 60 - 9.1%

Pct. of List Price Received 98.2% 98.4% + 0.2% 98.4% 98.6%

$425,983 + 1.5%

Median Sales Price $325,000 $344,000 + 5.8% $340,000 $348,000

Avg. Sales Price $396,273 $418,382 + 5.6% $419,534

26,170 26,201 + 0.1%

+ 2.4%

+ 3.5%

Closed Sales 2,220 2,260 + 1.8%

Key metrics for single-family properties, townhouses, condominiums and properties in adult communities combined, for the report month and for year-to-date (YTD) starting from the first of the year.

42,640 + 2.7%

Pending Sales 2,082 2,136 + 2.6% 26,825 26,820 - 0.0%

41,504New Listings 2,525 2,613

11-2015 11-2016 11-2017 11-2018

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11-2015 11-2016 11-2017 11-2018

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11-2015 11-2016 11-2017 11-2018