Ladera Ranch Condos - small

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1 Joe Richter California DRE Oregon REA CA CSLB 4157 & Condos and Townhomes 11 to 18 sf LISTINGS: 219 Period: Data Date: 4/2/219 Compares 219 Activity to 218 Current Active Listings: 33 ALL Listings in the last 9 Days 31 'NEW' Listings, made in the last: 9 Days: 5 New Listings SOLD: 11 DOM: Includes Outliers (1) Average DOM Active Listings: Market Average DOM Closed Listings: Type Average CDOM Closed Listings: Jan-218 Seller Average Escrow Period: Feb-218 Seller INVENTORY: Mar-218 Seller Of Month: 13 Apr-218 Absorption Rate (monthly) 12.8 Currently a: May-218 Months Supply 2.5 Jun Day Inventory Change 15 INCREASE 88.2% Jul-218 Y-O-Y Inventory Change 26 INCREASE 433.3% Aug-218 PRICE (Average) Net Change Sep-218 Closed Price Less Than 145 SF $48,594 ($1,621) (.3%) Oct-218 Closed Price Greater Than 145 SF $567,598 $6, % Nov-218 Closed Price Greater Than 145 sf Exclusive of View Lots $567,598 $13,22 2.4% Dec-218 Square Footage Range from: 1114 to 1788 Square Footage Average = 1493 Average SF of homes LESS than 145 SF is: 1318 Average SF of Homes GREATER than 145 SF is: 1628 Provided by Joe Richter / JoeR@HanoverRealtyGroup.com by J. Richter, Hanover Realty Group and Hanover Development, all rights reserved.not for consumer use. (1) See "Active Selling " and "Closed Sales" sections for details 4/4/219

2 Joe Richter California DRE Oregon REA CA CSLB Square Footage Range from: 1114 to 1788 Data Date: 4/2/ Beginning of Month Average # Beginning of Month January Februar y March April May June July August Septem ber October Novem ber Decemb er Poly. (215) Poly. (216) Poly. (217) Poly. (218) Y-T-D Averages New Listing New Listing Year- To- Date Totals Poly. (215) Poly. (216) Poly. (217) Poly. (218) 2 of 21 Printed: 4/4/219

3 Joe Richter California DRE Oregon REA CA CSLB Square Footage Range from: 1114 to 1788 Data Date: 4/2/ Total For Sale During the Month Total For Sale During the Month YTD Total Poly. (215) Poly. (216) Poly. (217) Poly. (218) 35 Contracts Written Contracts Written Poly. (215) Poly. (216) Linear (217) Poly. (217) Poly. (218) January of 21 Printed: 4/4/219

4 Joe Richter California DRE Oregon REA CA CSLB Square Footage Range from: 1114 to 1788 Data Date: 4/2/19 35 Closed Closed Year- To- Date Totals Poly. (215) Poly. (216) Poly. (217) Poly. (218) For End of Month Average # For End of Month Y-T-D Averages Poly. (215) Poly. (216) Poly. (217) Poly. (218) of 21 Printed: 4/4/219

5 11 to 18 sf Begin of Month New Listings Total for Sale Contracts Written Closed Expired, Withdrawn, Canceled For Sale at end of Month 1 January February March April May June July August September October November Prepared by: Joe Richter CABRE Period 12/1/17-12/31/18 Data Data Hold Do Not Show 12 December Checked Year-To-Date Totals Y-T-D Average % of New Listings Contracted % of TOT Availble Contracted 217 compared to 218 MARKET ACTIVITY Condos and Townhomes Begin of Month New Listings Total for Sale % Change % Change % Change 1 1 January 14 9 (5) (36%) (3) (19%) 3 22 (8) (27%) 1 2 February % % % 1 3 March 2 19 (1) (5%) (9) (32%) (1) (21%) 1 4 April 22 6 (16) (73%) % (7) (19%) 1 5 May (1) (6%) % % 1 6 June % (7) (29%) % 1 7 July % (5) (22%) (5) (11%) 1 8 August (4) (14%) (8) (31%) (12) (22%) 1 9 September (1) (31%) (3) (21%) (13) (28%) 1 1 October (7) (25%) 1 9 (1) (1%) 38 3 (8) (21%) 1 11 November 26 2 (6) (23%) % (4) (11%) 1 12 December % 5 4 (1) (2%) % YTD Total (24) (11%) (29) (13%) YTD Average (3) (13%) 217 MARKET ACTIVITY Condos and Townhomes 1/3/219 5 of 21 Printed: 4/4/219 % of TOT Available Closed

6 11 to 18 sf 217 compared to 218 MARKET ACTIVITY Condos and Townhomes Prepared by: Joe Richter CABRE Period 12/1/17-12/31/18 Data Data 1/3/219 Contracts Written Closed Expired, Withdrawn, Canceled % Change % Change % Change 1 January 15 4 (11) (73%) (1) (7%) 2 2 % 2 February % 12 3 (9) (75%) 3 March % (2) (11%) 3 3 % 4 April (5) (28%) % 1 (1) (1%) 5 May 2 15 (5) (25%) (6) (33%) 2 (2) (1%) 6 June % (2) (12%) 4 2 (2) (5%) 7 July (4) (21%) % August 2 17 (3) (15%) (7) (32%) % 9 September 17 1 (7) (41%) 2 14 (6) (3%) % 1 October 9 9 % 15 1 (5) (33%) 3 1 (2) (67%) 11 November 18 6 (12) (67%) % % 12 December 6 5 (1) (17%) 25 6 (19) (76%) 8 3 (5) (63%) YTD Total (35) (18%) (47) (22%) (4) (15%) 217 compared to 218 MARKET ACTIVITY Condos and Townhomes For Sale at end of Month % Change 1 January % Format Notes: 2 February 2 19 (1) (5%) Less than % equals GREEN (decreasing Inventory) 3 March 22 6 (16) (73%) More than % equals RED (increasing Inventory) Chapman Seller Market 4 April (1) (6%) May % Realtor.com Seller Market 6 June % 5 7 July (4) (14%) Use 8 August (1) (31%) September (7) (25%) Prior 1 October 26 2 (6) (23%) 12 Months 11 November % For Sale Monthly Months of Market 12 December EOM Absorption Supply Type Average 21 2 (2) (8%) Inventory: Months Supply Seller's Mark 9-Day Inventory Change DECREASE (4) (19%) Y-O-Y Inventory Change INCREASE 1 143% 6 of 21 Printed: 4/4/219

7 11 to 18 sf Begin of Month New Listings Total for Sale Contracts Written Closed Expired, Withdrawn, Canceled For Sale at end of Month 1 January February March April May June July August September October November December Prepared by: Joe Richter CABRE Period Data Data Hold Do Not Show Year-To-Date Totals Y-T-D Average % of New Listings Contracted % of TOT Availble Contracted % Change % Change % Change 1 1 January % % % 1 2 February % (9) (41%) (3) (8%) 1 3 March % % % 4 April 5 May 6 June 7 July 8 August 9 September 1 October 11 November 12 December 218 compared to 219 MARKET ACTIVITY Condos and Townhomes Begin of Month New Listings Total for Sale YTD Total (5) (9%) % YTD Average % 218 MARKET ACTIVITY Condos and Townhomes 4/2/219 7 of 21 Printed: 4/4/219 % of TOT Available Closed

8 11 to 18 sf Prepared by: Joe Richter CABRE Period Data Data 4/2/219 Contracts Written Closed Expired, Withdrawn, Canceled % Change % Change % Change 1 January % 13 4 (9) (69%) 2 1 (1) (5%) 2 February 19 1 (9) (47%) % March 29 1 (19) (66%) 17 8 (9) (53%) 3 3 % 4 April 5 May 6 June 7 July 8 August 9 September 1 October 11 November 12 December 218 compared to 219 MARKET ACTIVITY Condos and Townhomes YTD Total (25) (48%) 33 2 (13) (39%) % 218 compared to 219 MARKET ACTIVITY Condos and Townhomes For Sale at end of Month % Change 1 January % Format Notes: 2 February % Less than % equals GREEN (decreasing Inventory) 3 March % More than % equals RED (increasing Inventory) Chapman Seller Market 4 April May Realtor.com Seller Market 6 June 5 7 July Use 8 August September Year Over Year 1 October 12 Months 11 November For Sale Monthly Y-O-Y Months Market 12 EOM Absorption of Supply Type Average % Inventory: Months Supply #NAME? 9-Day Inventory Change INCREASE 15 88% Y-O-Y Inventory Change INCREASE % 9-Day Trends 8 of 21 Printed: 4/4/219

9 Prpeared By: Joe Richter CABRE to 18 sf 17 / 19 / 11 Begin of Month New Listings Total for Sale Contracts Written Closed Expired, Withdrawn, Canceled For Sale at end of Month Summary.month Active.at.begin.of.month New.Listings Total.for.Sale Contracts.written Closed Expired For.Sale.at.End.of.Month Period Data Data Hold Do Not Show % of New Listings / Contracts % of TOT Availble Contracted 1 January % 23% 13% 2 February % 29% 23% 3 March % 22% 18% 4 April 5 May 6 June 7 July 8 August 9 September 1 October 11 November 12 December 219 MARKET ACTIVITY Condos and Townhomes Year-To-Date Totals % 41% 3% Y-T-D Averages /2/219 % of Total Available Closed 9 of 21 Printed: 4/4/219

10 Prpeared By: Joe Richter CABRE to 18 sf 219 MARKET ACTIVITY Condos and Townhomes Period Data Data 4/2/219 Begin of Month New Listings Total for Sale Contracts Written Closed Expired, Withdrawn, Canceled For Sale at end of Month Poly. (New Listings) Poly. (Total for Sale) For of Month Trend January February March 1 of 21 Printed: 4/4/219

11 Prpeared By: Joe Richter CABRE to 18 sf 219 MARKET ACTIVITY Condos and Townhomes Home Prices Period Data Data 4/2/ , 675, 625, 575, 525, , , Strawflower , 375, 325, 1, 1,1 1,2 1,3 1,4 1,5 1,6 1,7 1,8 1,9 Active Backup Pending Closed Sale Expired Canceled Withdrawn Hold Do Not Show 27 Strawflower Active Listing Trend Closed Sale Trend Linear (Canceled) ~ Copy Right by Joe Richter. Permission required to use for any purpose other than intended Value by author Per Square Foot 11 of 21 Printed: 4/4/219

12 Prpeared By: Joe Richter CABRE to 18 sf 219 MARKET ACTIVITY Condos and Townhomes Period Data Data 4/2/ , 1,1 1,2 1,3 1,4 1,5 1,6 1,7 1,8 1,9 Active Active Under Contract Pending Closed Transactions Expired Canceled Hold 27 Srawflower Withdrawn Active Listing Trend Poly. (Closed Transactions) Closed Sale Trend 12 of 21 Printed: 4/4/219

13 Prepared by: Joe Richter CABRE vrs 218 Average Square Footage Comparison Condos and Townhomes 11 to 18 sf % Change Average SF of homes LESS than 145 SF is: 1,318 1,338 (2) (1.49%) Average SF of Homes GREATER than 145 SF is: 1,628 1,633 (5) (.31%) Average SF of ALL: 1,493 1,514 (21) (1.39%) BOTTOM LINE The average size of homes for sale in 219 that were SMALLER than 145 sf is down approximately -2 sf compared to 218 The average size of homes for sale in 219 that were LARGER than 145 sf is down approximately -5 sf compared to compared to 218 Average List Price Comparison Net Change Ave Last List Price of Homes Less Than 145 SF $492,1 $489,685 $2,316.47% $9, % Ave Last List Price of Homes Greater Than 145 SF $59,53 $562,487 $28, % $29, % Ave Price PSF Homes Less Than 145 sf $375 $371 $5 1.27% Ave Price PSF Homes Greater Than 145 sf $365 $35 $ % 219 compared to 218 Average CLOSED Price Comparison Net Change Closed Price Less Than 145 SF $48,594 $489,532 ($8,938) (1.83%) -$1,621 (.33%) Closed Price Greater Than 145 SF $567,598 $562,378 $5,22.93% $6, % Closed Price Greater Than 145 sf Exclusive of View Lots $567,598 $556,8 $11, % $13, % AVERAGE CLOSED PRICE OF ALL UNITS $527,442 $534,68 $5,22.93% $6, % Closed Price psf Less Than 145 SF $361 $366 ($5) (1.4%) Closed Price psf Greater Than 145 SF $343 $343 ($) (.4%) 56,396 $562,487 BOTTOM LINE 558,881 $ The average NET CLOSING PRICE of the smaller homes is DOWN ($1,621) or -.3% The average NET CLOSING PRICE of the LARGER homes is UP $6,942 or 1.2% 13 of 21 Printed: 4/4/219

14 Prepared by: Joe Richter CABRE Condos and Townhomes 11 to 18 sf 219 compared to 218 the Average Time On The Market DOM = Days on Market - from listing to contract 218 Summary Units CDOM = Cummualtive Days on Market DOM CDOM ED Closed ED = Escrow Duration 1114 to 145 SF to 1788 SF Summary Units DOM CDOM ED Closed 1114 to 145 SF to 1788 SF minus 218 Variance Units DOM CDOM ED Closed 1114 to 145 SF 18 8 (3) 145 to 1788 SF 11 (7) (5) BOTTOM LINE In 219 the SMALLER PRODUCT was on the market on average 18 days MORE before contracting than 218 In 219 the LARGER PRODUCT was on the market on average 11 days MORE before contracting than of 21 Printed: 4/4/219

15 X6AC Prepared By: Joe Richter CABRE Review Period: 11 to 18 sf Data Date: 4/2/219 * * * * * * * * * * * * * * * List Year List Month Number Street Status List Date Contract Date Averages Closed or Expired DOM CDOM Escrow Dur. List Month Average DOM January Valmont Active Under Contract 11/26/18 2/24/19 2/24/ February Sheridan Closed 11/29/18 11/3/18 12/13/ March 12 3 Baccus Closed 12/12/18 1/8/19 2/7/ April 38 3 Three Vines Closed 1/18/18 11/2/18 11/27/ May 5 3 Vinca Active 9/13/18 9/13/ June 28 6 Shelburne Active 1/2/18 1/2/ July 46 8 Three Vines Expired 5/3/18 2/8/ August 48 1 Fieldhouse Active 9/7/18 9/7/ September 66 1 Post Active 11/29/18 11/29/ October 35 1 Three Vines Closed 9/6/18 12/2/18 1/14/ November 21 1 Delphinium Closed 9/1/18 1/9/19 2/5/ December Agave Active 7/25/18 7/25/ AVERAGE Attleboro Closed 8/23/18 1/6/18 11/5/ Arlington Closed 1/23/18 11/7/18 11/29/ Garrison Loop Closed 11/24/18 1/25/19 2/26/ Triad Canceled 9/18/18 11/1/ Days from Listing to Contract 2 Wildflower Closed 12/21/18 12/31/18 1/15/ Average DOM Passaflora Closed 7/8/18 1/25/18 12/7/ Minimum DOM 3 22 Arlington Closed 1/24/18 11/23/18 12/21/ Maxmum DOM Tuberose Expired 11/2/18 2/1/ Average DOM - Ex/O Wildflower Closed 1/5/18 1/29/18 11/2/ Upper Outlier > Dietes Closed 8/21/18 1/2/19 2/6/ Quartz Closed 9/6/18 9/23/18 11/9/ Days WITHOUT Contract 29 Three Vines Closed 8/11/18 1/7/19 2/5/ Average DOM Harwick Canceled 1/3/18 1/26/ Minimum DOM 5 36 Chadron Closed 11/26/18 12/1/18 12/28/ Maxmum DOM Rumford Closed 11/3/18 12/9/18 12/29/ Quartz Closed 9/7/18 11/11/18 11/3/ Clifford Closed 11/2/18 1/15/19 2/13/ Chadron Closed 8/29/18 12/17/18 1/9/ Walbert Canceled 11/15/18 12/3/ of 21 4/4/219

16 X6AC Prepared By: Joe Richter CABRE Review Period: 11 to 18 sf Data Date: 4/2/219 * * * * * * * * * * * * * * * Averages List Year List Contract Closed or Number Street Status List Date Month Date Expired DOM CDOM Escrow Dur. 218 List 47 Walbert Canceled 1/11/18 11/15/ Marcilla Closed 9/11/18 1/19/18 11/2/ Garrison Closed 8/15/18 2/7/19 2/22/ Three Vines Closed 11/1/18 11/18/18 12/21/ Platinum Closed 8/12/18 1/2/18 11/21/ Platinum Closed 7/2/18 1/11/18 11/9/ Strawflower Closed 1/9/18 1/2/ Hinterland Canceled 1/24/18 12/19/ Strawflower Active 5/1/18 5/1/ Sansovino Expired 9/2/18 12/31/ Strawflower Closed 7/24/18 1/11/18 11/27/ Strawflower Closed 8/2/18 9/21/18 11/6/ Sellas Closed 11/16/18 12/3/18 1/1/ Three Vines Active 12/1/18 12/1/ Garrison Canceled 9/13/18 12/3/ Hinterland Active Under Contract 12/26/18 2/11/19 2/11/ List Month Average DOM Rumford Active 1/25/19 1/25/ Aryshire Canceled 1/22/19 2/27/ Granville Active 1/21/19 1/21/ Sheridan Active 1/31/19 1/31/ Hinterland Way Active 1/5/19 1/5/ Agave Active Under Contract 1/22/19 2/11/19 2/11/ Amesbury Active Under Contract 1/24/19 2/21/19 2/21/ Iron Horse Pending 1/12/19 2/1/19 2/1/ Harwick Active 1/29/19 1/29/ Valmont Active Under Contract 1/23/19 2/18/19 2/18/ Garrison Active 1/6/19 1/6/ Wildflower Closed 1/8/19 1/15/19 2/22/ Chadron Active 1/21/19 1/21/ Digby Active Under Contract 2/16/19 2/27/19 2/27/ Granville Active 2/15/19 2/15/ Triad Active 2/12/19 2/12/ of 21 4/4/219

17 X6AC Prepared By: Joe Richter CABRE Review Period: 11 to 18 sf Data Date: 4/2/219 * * * * * * * * * * * * * * * Averages List Year List Contract Closed or Number Street Status List Date Month Date Expired DOM CDOM Escrow Dur Marcilla Active Under Contract 2/14/19 2/25/19 2/25/ Fieldhouse Active 2/7/19 2/7/ Triad Active 2/12/19 2/12/ Triad Active 2/14/19 2/14/ Fieldhouse Active Under Contract 2/21/19 2/24/19 2/24/ Rumford Active 2/6/19 2/6/ Orange BlossomActive 2/2/19 2/2/ Iron Horse Active 2/14/19 2/14/ Garrison Loop Active 2/24/19 2/24/ Sansovino Active 2/11/19 2/11/ Grand Total List Month Average DOM 17 of 21 4/4/219

18 - 11 to 18 sf Status DOM Address Add ress Period: Data: ACTIVELY SELLING Condos and Townhomes Square Footage Original List Price Last List Price Price Change Joe Richter California DRE Oregon REA CA CSLB List Price $ PSF Total active Sales 33 Active 6 Lynde 6 1,56 599, 599, 384 Active Lisitngs Less than 145 SF 12 Active 3 4 Hinterland 4 1,25 479, 479, 383 Average Price 482,898 Active 4 31 Triad 31 1, , , Average SF 1,31 Active 4 5 Dietes 5 1, , 465, 359 Average Price SF 372 Active 5 84 Garrison 84 1,388 47, 47, 339 Active 5 23 Quartz 23 1, , 515, 389 Active Lisitngs More than 145 SF 21 Active 6 2 Quartz 2 1, ,9 589,9 354 Average Price 6,14 Active 6 12 Half Moon 12 1, , 699, 391 Average SF 1,623 Active 7 28 Arlington 28 1,694 62, 62, 366 Average Price SF 371 Active 9 38 Corbin 38 1,51 529, 529, 35 Active Harwick 23 1, ,95 629, Active 12 1 Fieldhouse 1 1,73 686, , Active Dietes 15 1,641 52, 52, 317 DOM Active Sheridan 46 1,617 54, 54, 334 Av. Exclusive of Outliers 26 Active Wildflower 26 1,44 529, 529, 367 Average 35 Active Bayley 42 1,56 579,9 579,9 372 Median 21 Active Sklar 151 1, ,9 579,9 342 Quartile 1 7 Active Ash Hollow 25 1,6 689, , Quartile 3 49 Active 26 6 Arlington 6 1,694 62, 62, 366 IQR 42 Active Triad 18 1,25 484,9 479,9 (1.3%) 388 Stand Range 63 Active Chadron 45 1, , 475, 38 Upper Range (56) Active Garrison Loop 59 1, ,9 579,9 376 Lower Range / Outliers 112 Active Triad 32 1, , 59,988 (.39%) 389 Active Iron Horse 58 1, , , Active 49 2 Triad 2 1, , 465, 365 Active 5 11 Sansovino 11 1, , 435, 344 4/2/219 Page 18 of 21

19 Joe Richter California DRE Oregon REA CA CSLB to 18 sf ACTIVELY SELLING Period: Data: 4/2/ , 7, 675, 65, 625, 6, 575, 55, 525, 5, 475, 27 Strawflower 45, 425, 4, 375, 35, 1,1 1,15 1,2 1,25 1,3 1,35 1,4 1,45 1,5 1,55 1,6 1,65 1,7 1,75 1,8 1,85 Active Listing 27 Strawflower Poly. (Active Listing) Page 19 of 21

20 Joe Richter California DRE Oregon REA CA CSLB to 18 sf Period Status DOM CDOM Address Square Footage CLOSED SALES Condos and Townhomes Original List Price Last List Price Closed Price 'Δ O v C List Price $ PSF Data: Closed Price $ PSF Total Closed Sales 26 Closed Digby ,9 579,9 569, (1.88%) Closed Sales Less than 145 SF 12 Closed Fieldhouse , 685, 69,.73% Average Price $48,594 Closed Shelburne , 595, 575, (4.49%) Average SF 1,333 Closed Valmont , 415, 385, (1.47%) Average Price SF $361 Closed Marcilla , 475, 478,5.74% Closed Sales Greater than 145 SF 14 Closed Agave ,9 529,9 52, (1.87%) Average Price $567,598 Closed Hinterland , 475, 469, (1.26%) Average SF 1,652 Closed Iron Horse , 648, 562, (17.23%) Average Price SF $343 Closed Garrison Loop , 469, 462, (1.49%) Closed Garrison , 555, 53, (4.5%) DOM CDOM Average Exclusive of Closed Wildflower , 65, 69,375 (6.25%) Outliers Closed Clifford ,9 619,9 65, (2.4%) Average Closed Baccus , , , (1.67%) Median Closed Dietes , ,5 45,125 (4.21%) Quartile Closed Delphinium , 515, 49, (4.85%) Quartile Closed Three Vines ,9 524,9 5, (5.64%) IQR Closed Wildflower , 499, 487,5 (2.3%) Stand Range Closed Three Vines , 629, 59, (13.24%) Upper Range Closed Sellas , 479, 463, (3.34%) Lower Range / OUTLIERS Closed Chadron ,9 519,9 51, (3.64%) Count: Closed Rumford , 515, 58, (1.36%) List Price Closed $$ Closed Chadron , 539, 539,.% Average Exclusive of Outliers $ 551,568 $ 545,88 Closed Three Vines , ,999 5, (2.91%) Average $ 551,568 $ 545,88 Closed Arlington , 69, 575, (5.58%) Median $ 529,9 $ 514, Closed Sheridan , 625, 625,.% Quartile 1 $ 479, $ 48,75 Closed Passaflora ,5 589, 565, (9.24%) Quartile 3 $ 617,175 $ 573,5 4/2/219 IQR $ 138,175 $ 92,75 Stand Range $ 27,263 $ 139,125 Upper Range $ 271,738 $ 341,625 Lower Range / OUTLIERS $ 824,438 $ 712,625 Count: Page 2 of 21

21 Joe Richter California DRE Oregon REA CA CSLB to 18 sf 725, 7, CLOSED SALES Condos and Townhomes Closed Sales Period Data: 4/2/ , 65, 625, 6, 575, 55, 525, 5, 475, 27 Strawflower 45, 425, 4, 375, 35, Closed Transactions 27 Strawflower Poly. (Closed Transactions) Page 21 of 21