Monthly Snapshot

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101112131415Total Market Overview

Monthly Indicators

May 2018

- 4.2% - 15.5%One-Year Change in

Closed SalesAll Properties

New Listings

Single Family Market OverviewTownhouse-Condo Market OverviewAdult Community Market Overview

Data as of June 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

+ 0.9%

Pending SalesClosed Sales

Just like last year at this time, prospective home buyers should expect a competitive housing market for the next several months. With payrolls trending upward and unemployment trending downward month after month in an extensive string of positive economic news, demand remains quite strong. Given the fact that gradually rising mortgage rates often infuse urgency to get into a new home before it costs more later, buyers need to remain watchful of new listings and make their offers quickly.

• Single Family Closed Sales were down 4.0 percent to 2,003. • Townhouse-Condo Closed Sales were down 5.1 percent to 451. • Adult Communities Closed Sales were down 2.1 percent to 47.

• Single Family Median Sales Price decreased 1.1 percent to $370,000. • Townhouse-Condo Median Sales Price increased 8.0 percent to $270,000. • Adult Communities Median Sales Price increased 13.3 percent to $360,000.

Although home sales may actually drop in year-over-year comparisons over the next few months, that has more to do with low inventory than a lack of buyer interest. As lower days on market and higher prices persist year after year, one might rationally expect a change in the outlook for residential real estate, yet the current situation has proven to be remarkably sustainable likely due to stronger fundamentals in home loan approvals than were in place a decade ago.

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 5-2017 5-2018 Percent Change YTD 2017 YTD 2018 Percent Change

Data as of June 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 5.8 4.7 - 19.0% -- -- --

Homes for Sale 10,763 9,121 - 15.3% -- --

- 13.0%

Affordability Index 123 119 - 3.3% 135 128 - 5.2%

Days on Market 66 60 - 9.1% 77 67

+ 0.6%

Pct. of List Price Received 98.7% 99.1% + 0.4% 98.1% 98.5% + 0.4%

Avg. Sales Price $455,409 $461,561 + 1.4% $430,505 $433,157

- 0.3%

Median Sales Price $374,000 $370,000 - 1.1% $342,000 $345,000 + 0.9%

Closed Sales 2,087 2,003 - 4.0% 7,877 7,857

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.

16,732 - 1.3%

Pending Sales 2,472 2,621 + 6.0% 9,882 10,155 + 2.8%

16,951New Listings 4,140 3,955 - 4.5%

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

Townhouse-Condo Market Overview

Key Metrics Historical Sparklines 5-2017 5-2018 Percent Change YTD 2017 YTD 2018 Percent Change

3,166 - 1.0%

Pending Sales 514 529 + 2.9% 2,199 2,264 + 3.0%

3,197New Listings 694 663 - 4.5%

Closed Sales 475 451 - 5.1% 1,814 1,878 + 3.5%

+ 2.0%

97.9%

$287,643 + 2.4%

Median Sales Price $250,000 $270,000 + 8.0% $249,900 $255,000

Avg. Sales Price $283,385 $303,091 + 7.0% $280,853

173

+ 0.4%

Days on Market 61 55 - 9.8% 69 60 - 13.0%

Pct. of List Price Received 98.0% 98.2% + 0.2% 97.5%

Affordability Index 184 164 - 10.9% 184

- 14.6% -- -- --

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 4.3 3.5 - 18.6% -- --

Data as of June 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

- 6.0%

Homes for Sale 1,734 1,481

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

Adult Community Market Overview

Key Metrics Historical Sparklines 5-2017 5-2018 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.

265 - 16.9%

Pending Sales 49 43 - 12.2% 212 179 - 15.6%

319New Listings 76 61 - 19.7%

Closed Sales 48 47 - 2.1% 187 182 - 2.7%

+ 13.0%

$421,390 + 24.1%

Median Sales Price $317,750 $360,000 + 13.3% $320,000 $361,500

Avg. Sales Price $340,542 $395,789 + 16.2% $339,518

+ 1.4%

Days on Market 61 59 - 3.3% 80 68 - 15.0%

Pct. of List Price Received 97.1% 99.2% + 2.2% 97.2% 98.6%

- 15.3%

Homes for Sale 237 164 - 30.8% -- -- --

Affordability Index 145 123 - 15.2% 144 122

--Months Supply 5.7 4.1 - 28.1% -- --

Data as of June 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

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

New Listings

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

June 2017 3,717 640 70

July 2017 2,958 573 52

August 2017 2,844 602 56

September 2017 3,066 623 40

October 2017 2,687 524 55

November 2017 2,016 470 36

December 2017 1,392 273 32

January 2018 2,502 512 48

February 2018 2,952 587 51

March 2018 3,248 662 48

April 2018 4,075 742 57

May 2018 3,955 663 61

12-Month Avg. 2,951 573 51 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 June 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

3,777

701

60

4,140

694

76

3,955

663

61

Single Family Townhouse-Condo Adult Communities

May

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

16,930

3,268

341

16,951

3,197

319

16,732

3,166

265

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

- 4.5%- 1.0%- 4.5%+ 9.6% - 2.2%- 1.3%+ 0.1% - 1.0%

2016 2017 2018 2016 2017 2018 2016 2017 2018

- 10.0% + 2.2% - 0.1%- 10.9% - 19.7%+ 26.7%2016 2017 2018

- 30.2% - 16.9%- 6.5%2016 2017 2018

+ 9.3%

Pending Sales

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

June 2017 2,484 486 52

July 2017 2,013 371 42

August 2017 2,032 456 61

September 2017 1,744 400 39

October 2017 1,840 448 40

November 2017 1,670 385 42

December 2017 1,297 324 30

January 2018 1,409 324 29

February 2018 1,703 416 34

March 2018 2,131 500 35

April 2018 2,291 495 38

May 2018 2,621 529 43

12-Month Avg. 1,936 428 40 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 June 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.

2,198

463

51

2,472

514

49

2,621

529

43

Single Family Townhouse-Condo Adult Communities

May

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

8,951

2,082

192

9,882

2,199

212

10,155

2,264

179

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

+ 2.9%+ 11.0%+ 6.0%+ 12.5% + 5.6%+ 2.8%+ 10.4% + 3.0%

2016 2017 2018 2016 2017 2018 2016 2017 2018

+ 5.8% + 13.6% + 11.2%- 3.7% - 12.2%- 3.9%2016 2017 2018

+ 8.5% - 15.6%+ 10.4%2016 2017 2018

+ 11.6%

Closed Sales

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

June 2017 2,633 558 52

July 2017 2,319 478 38

August 2017 2,648 472 50

September 2017 1,946 404 42

October 2017 1,902 473 52

November 2017 1,760 417 41

December 2017 1,823 412 41

January 2018 1,439 339 35

February 2018 1,217 281 32

March 2018 1,461 397 40

April 2018 1,737 410 28

May 2018 2,003 451 47

12-Month Avg. 1,907 424 42 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 June 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.

1,695

418

40

2,087

475

48

2,003

451

47

Single Family Townhouse-Condo Adult Communities

May

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

6,806

1,705

148

7,877

1,814

187

7,857

1,878

182

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

- 5.1%+ 13.6%- 4.0%+ 23.1% + 6.4%- 0.3%+ 15.7% + 3.5%

2016 2017 2018 2016 2017 2018 2016 2017 2018

+ 11.0% + 18.2% + 16.5%+ 16.1% - 2.1%+ 20.0%2016 2017 2018

+ 2.6% - 2.7%+ 26.4%2016 2017 2018

+ 11.3%

Median Sales Price

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

June 2017 $415,000 $266,000 $376,950

July 2017 $400,000 $277,000 $347,250

August 2017 $400,000 $263,200 $320,000

September 2017 $350,000 $259,000 $328,000

October 2017 $340,000 $242,500 $377,500

November 2017 $349,000 $260,750 $340,000

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

January 2018 $325,500 $253,500 $320,000

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

March 2018 $344,000 $240,000 $372,000

April 2018 $360,000 $261,350 $412,500

May 2018 $370,000 $270,000 $360,000

12-Month Med.* $364,900 $260,000 $349,900 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.

$375,000

$266,950

$340,000

$374,000

$250,000

$317,750

$370,000

$270,000

$360,000

Single Family Townhouse-Condo Adult Communities

May

$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

$339,900

$252,250

$339,500$342,000

$249,900

$320,000$345,000

$255,000

$361,500

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

+ 8.0%- 6.3%- 1.1%- 0.3% - 0.9%+ 0.9%+ 0.6% + 2.0%

2016 2017 2018 2016 2017 2018 2016 2017 2018

- 2.6% - 4.9% - 1.3%+ 3.1% + 13.3%- 6.5%2016 2017 2018

+ 10.3% + 13.0%- 5.7%2016 2017 2018

+ 5.4%

Average Sales Price

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

June 2017 $503,249 $303,511 $439,734

July 2017 $480,319 $307,610 $375,013

August 2017 $482,641 $309,512 $362,739

September 2017 $428,573 $293,267 $387,751

October 2017 $410,015 $272,623 $419,662

November 2017 $419,315 $298,773 $407,397

December 2017 $444,415 $293,059 $381,998

January 2018 $419,527 $284,806 $467,786

February 2018 $389,768 $265,196 $380,874

March 2018 $427,704 $284,426 $408,546

April 2018 $446,707 $291,496 $471,020

May 2018 $461,561 $303,091 $395,789

12-Month Avg.* $449,252 $293,681 $406,398 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.

$466,065

$310,118

$354,944

$455,409

$283,385

$340,542

$461,561

$303,091

$395,789

Single Family Townhouse-Condo Adult Communities

May

$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

$426,142

$286,113

$365,051

$430,505

$280,853

$339,518

$433,157

$287,643

$421,390

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

+ 7.0%- 8.6%+ 1.4%- 2.3% - 1.8%+ 0.6%+ 1.0% + 2.4%

2016 2017 2018 2016 2017 2018 2016 2017 2018

- 1.6% - 5.3% - 1.2%+ 5.6% + 16.2%- 4.1%2016 2017 2018

+ 15.7% + 24.1%- 7.0%2016 2017 2018

+ 8.4%

Percent of List Price Received

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

June 2017 99.4% 98.5% 98.6%

July 2017 99.0% 98.3% 96.5%

August 2017 99.0% 97.7% 96.4%

September 2017 98.5% 97.7% 97.6%

October 2017 98.3% 97.4% 98.1%

November 2017 98.4% 97.5% 98.3%

December 2017 98.1% 97.5% 97.4%

January 2018 98.3% 97.5% 96.7%

February 2018 97.7% 98.0% 98.1%

March 2018 98.4% 97.7% 100.2%

April 2018 98.8% 98.0% 98.5%

May 2018 99.1% 98.2% 99.2%

12-Month Avg.* 98.7% 97.9% 98.0% 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.

97.5% 97.5% 97.2%

98.7%98.0%

97.1%

99.1%98.2%

99.2%

Single Family Townhouse-Condo Adult Communities

May

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

96.8% 97.1% 97.1%98.1%

97.5% 97.2%98.5%

97.9%98.6%

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

+ 0.2%+ 0.5%+ 0.4%+ 1.2% + 0.4%+ 0.4%+ 1.3% + 0.4%

2016 2017 2018 2016 2017 2018 2016 2017 2018

- 0.2% - 0.1% + 0.3%+ 0.4% + 2.2%- 0.1%2016 2017 2018

- 0.1% + 1.4%+ 0.1%2016 2017 2018

+ 0.4%

Days on Market Until Sale

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

June 2017 58 51 95

July 2017 56 57 71

August 2017 57 64 84

September 2017 63 59 87

October 2017 68 62 69

November 2017 66 60 73

December 2017 73 61 85

January 2018 71 65 85

February 2018 78 68 76

March 2018 70 62 69

April 2018 62 53 51

May 2018 60 55 59

12-Month Avg.* 64 59 76 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.

74

6673

6661 6160

5559

Single Family Townhouse-Condo Adult Communities

May

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

86

7784

7769

80

6760

68

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

- 9.8%- 7.6%- 9.1%- 10.8% - 10.4%- 13.0%- 10.5% - 13.0%

2016 2017 2018 2016 2017 2018 2016 2017 2018

- 3.9% - 4.4% - 4.9%- 15.4% - 3.3%- 16.4%2016 2017 2018

- 20.7% - 15.0%- 4.8%2016 2017 2018

- 5.6%

Housing Affordability Index

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

June 2017 111 173 122

July 2017 115 167 133

August 2017 116 177 146

September 2017 133 180 142

October 2017 134 188 121

November 2017 132 177 136

December 2017 132 172 134

January 2018 136 174 138

February 2018 140 183 139

March 2018 128 184 119

April 2018 123 169 107

May 2018 119 164 123

12-Month Avg.* 127 176 130 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.

120

168

132123

184

145

119

164

123

Single Family Townhouse-Condo Adult Communities

May

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

132

178

132135

184

144128

173

122

Single Family Townhouse-Condo Adult Communities

Year to Date

2016 2017 2018

- 10.9%+ 9.5%- 3.3%+ 2.5% + 3.4%- 5.2%+ 2.3% - 6.0%

2016 2017 2018 2016 2017 2018 2016 2017 2018

+ 1.7% + 3.9% 0.0%- 4.5% - 15.2%+ 9.8%2016 2017 2018

- 10.2% - 15.3%+ 9.1%2016 2017 2018

- 6.4%

Inventory of Homes for Sale

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

June 2017 10,869 1,697 238

July 2017 10,680 1,748 223

August 2017 10,280 1,716 194

September 2017 10,301 1,726 182

October 2017 9,795 1,640 182

November 2017 8,928 1,576 152

December 2017 7,568 1,340 136

January 2018 7,629 1,387 142

February 2018 7,980 1,406 149

March 2018 8,154 1,393 156

April 2018 8,898 1,508 158

May 2018 9,121 1,481 164

12-Month Avg. 9,184 1,552 173 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 June 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

12,546

2,049285

10,763

1,734237

9,121

1,481164

Single Family Townhouse-Condo Adult Communities

May

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- 14.6%- 15.4%- 15.3%- 14.2%

2016 2017 2018- 6.2% - 10.8% - 30.8%- 16.8%

2016 2017 2018+ 9.2%

Months Supply of Inventory

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

June 2017 5.8 4.1 5.6

July 2017 5.7 4.3 5.4

August 2017 5.4 4.2 4.5

September 2017 5.5 4.2 4.2

October 2017 5.2 3.9 4.2

November 2017 4.7 3.7 3.5

December 2017 4.0 3.2 3.2

January 2018 4.0 3.3 3.3

February 2018 4.2 3.3 3.6

March 2018 4.3 3.3 3.7

April 2018 4.6 3.5 3.9

May 2018 4.7 3.5 4.1

12-Month Avg.* 4.8 3.7 4.1 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.

7.5

5.2

7.4

5.8

4.3

5.74.7

3.54.1

Single Family Townhouse-Condo Adult Communities

May

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- 18.6%- 17.3%- 19.0%- 22.7%

2016 2017 2018- 16.7% - 20.0% - 28.1%- 23.0%

2016 2017 2018- 7.5%

Total Market Overview

Key Metrics Historical Sparklines 5-2017 5-2018 Percent Change YTD 2017 YTD 2018 Percent Change

--Months Supply 5.5 4.5 - 18.2% -- --

Data as of June 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

- 5.6%

Homes for Sale 12,734 10,766 - 15.5% -- -- --

Affordability Index 135 128 - 5.2% 144 136

+ 0.4%

Days on Market 65 59 - 9.2% 76 66 - 13.2%

Pct. of List Price Received 98.6% 98.9% + 0.3% 98.0% 98.4%

$405,340 + 1.0%

Median Sales Price $342,000 $345,000 + 0.9% $320,000 $325,000

Avg. Sales Price $422,004 $431,689 + 2.3% $401,272

9,878 9,917 + 0.4%

+ 1.6%

- 4.7%

Closed Sales 2,610 2,501 - 4.2%

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.

20,163 - 1.5%

Pending Sales 3,035 3,193 + 5.2% 12,293 12,598 + 2.5%

20,467New Listings 4,910 4,679

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018

5-2015 5-2016 5-2017 5-2018