2019 Q1 Market Report - Engel & Völkers Atlanta

MARKET INTELLIGENCE 2 0 1 9

Q 1

AT L A N T A , G E O R G I A

ENGEL & VÖLKERS ATLANTA

2

ATLANTA MARKET INTELLIGENCE | 1Q19

ATLANTA MARKET INTELLIGENCE | 1Q19

3

A WORD FROM US As the newest and fastest growing real estate brokerage in Atlanta, Georgia, Engel & Vรถlkers has grown to 6 office locations around Metro Atlanta. The strength of its remarkable brand has made Engel & Vรถlkers the most recognized real estate firm worldwide with over 10,000 Advisors in over 800 offices, spanning 34 countries and 6 continents. Engel & Vรถlkers Atlanta has established themselves as leaders in the real estate industry offering their clientele unmatchable, global reach with extensive, local expertise on new home sales and general brokerage real estate.

It is our pleasure to present our 2019 Quarter 1 Atlanta Market Intelligence Report, where you will find comprehensive reports on residential attached condominiums, townhomes and residential detached single family homes in the following FMLS areas: 21, 22, 23, 24, 51, 52, 71, and 132.

TABLE OF CONTENTS A WORD FROM US . . ...................................................................................................2 FMLS AREA 21...........................................................................................................6 CONDOS........................................................................................................10 TOWNHOMES................................................................................................14 SINGLE FAMILY DETACHED.........................................................................18 FMLS AREA 22...........................................................................................................22 CONDOS........................................................................................................26 TOWNHOMES................................................................................................30 SINGLE FAMILY DETACHED.........................................................................34 FMLS AREA 23...........................................................................................................38 CONDOS........................................................................................................42 TOWNHOMES................................................................................................46 SINGLE FAMILY DETACHED.........................................................................50 FMLS AREA 24...........................................................................................................54 CONDOS........................................................................................................58 TOWNHOMES................................................................................................62 SINGLE FAMILY DETACHED.........................................................................66 FMLS AREA 51...........................................................................................................70 CONDOS........................................................................................................74 TOWNHOMES................................................................................................78 SINGLE FAMILY DETACHED.........................................................................82 FMLS AREA 52...........................................................................................................86 CONDOS........................................................................................................90 TOWNHOMES................................................................................................94 SINGLE FAMILY DETACHED.........................................................................98 FMLS AREA 71...........................................................................................................102 CONDOS........................................................................................................106 TOWNHOMES................................................................................................110 SINGLE FAMILY DETACHED.........................................................................114 FMLS AREA 132.........................................................................................................118 CONDOS........................................................................................................122 TOWNHOMES................................................................................................126 SINGLE FAMILY DETACHED.........................................................................130

ATLANTA MARKET INTELLIGENCE | 1Q19

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5

ATLANTA

21

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21

8

FMLS AREA 21 132 51 400

71

21

285

85

75 285 85

22

23 24

20

32

31

285

52

20

53

75 85

First Multiple Listing Service (FMLS) Area 21 encompasses most of Atlanta’s Buckhead Community. It includes Tuxedo Park, Mt. Paran/Northside, Chastain Park, the portion of Brookhaven that falls within Fulton County, and numerous other neighborhoods. FMLS Area 21 is bound by the Fulton/DeKalb line to the east, I-75 to the west, the City of Atlanta line to the north and I-85 to the south.

ATLANTA

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9 9

ATLANTA MARKET INTELLIGENCE REPORT | 1Q19 | FMLS AREA 21 ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21

FMLS AREA 21

SUMMARY OF MARKET ACTIVITY

ATTACHED HOMES The following table shows activity for attached homes (condos and townhomes) in FMLS Area 21 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 27 292 24 28 97% 1

$200K $299K 107 436 36 31 97% 3

$300K $399K 54 211 18 46 96% 3

$400K $499K 46 110 9 89 95% 5

$500K $599K 21 61 5 102 95% 4

$600K $699K 32 50 4 122 96% 8

$700K $799K 25 39 3 132 96% 8

$800K $899K 8 29 2 152 95% 3

$900K $999K 10 16 1 135 93% 8

$1M $2M 27 39 3 152 91% 8

$2M $5M 17 12 1 267 87% 17

AVG/ > $5M 3 0 0 0 0% 0

TOTALS 377 1295 108 58 96% 3

SOURCE: FMLS 2019; Area 21, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

DETACHED HOMES The following table shows activity for detached homes (single family) in FMLS Area 21 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 2 18 2 29 83% 1

$200K $299K 4 3 0 56 96% 16

$300K $399K 2 10 1 114 92% 2

$400K $499K 9 36 3 71 93% 3

$500K $599K 29 97 8 60 94% 4

$600K $699K 39 102 9 56 96% 5

$700K $799K 23 85 7 82 94% 3

$800K $899K 29 78 7 77 95% 4

$900K $999K 26 55 5 73 92% 6

$1M $2M 170 251 21 116 93% 8

$2M $5M 77 79 7 134 90% 12

AVG/ > $5M 15 2 0 31 99% 90

TOTALS 425 816 68 89 93% 6

SOURCE: FMLS 2019; Area 21, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE AREA2121| |CONDOS CONDOS ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA

10

FMLS AREA 21 CONDOMINIUMS

SUMMARY OF CONDOMINIUM MARKET ACTIVITY The number of active condo listings in FMLS Area 21 increased 36.6% on a year-over-year basis from 243 in March 2018 to 332 in March 2019. The number of new condo listings in FMLS Area 21 increased 8.8% on a year-over-year basis from 137 in March 2018 to 149 in March 2019. The number of condo sales in FMLS Area 21 decreased 47.1% on a year-overyear basis from 119 in March 2018 to 63 in March 2019. The months of inventory for condos in FMLS Area 21 increased 158.1% on a year-over-year basis from 2.0 months in March 2018 to 5.3 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 36.6%

+ 8.8%

- 47.1%

+ 158.1%

ATLANTA ENGEL & VÖLKERS ATLANTA

+ 13.7%

+ 9.5%

- 0.3%

+ 19.0%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | CONDOS

11 11

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | CONDOS

SUPPLY DYNAMICS The number of active condo listings in FMLS Area 21 increased 36.6% on a year-over-year basis from 243 in March 2018 to 332 in March 2019.

The number of new condo listings in FMLS Area 21 increased 8.8% on a year-over-year basis from 137 in March 2018 to 149 in March 2019.

400

400

The number of condo sales in FMLS Area 21 decreased 47.1% on a year-over-year basis from 119 in March 2018 to 63 in March 2019.

300

300

200

200

100

100

0

2Q16

3Q16

4Q16

1Q17

2Q17

3Q17

4Q17

1Q18

2Q18

3Q18

4Q18

1Q19

0

MONTHS OF INVENTORY

10

The months of inventory for condos in FMLS Area 21 increased 158.1% on a year-overyear basis from 2.0 months in March 2018 to 5.3 months in March 2019.

8 6 4 2 0

3Q16

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1Q17

3Q17

ENGEL & VÖLKERS ATLANTA

1Q18

3Q18

1Q19

ATLANTA www.evatlanta.com

ATLANTA MARKET INTELLIGENCE 21 || CONDOS CONDOS ATLANTA MARKET INTELLIGENCE | |1Q19 1Q19 | |FMLS FMLS AREA AREA 21

12 12

MEDIAN SALE PRICE

+ 13.7%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE

$600,000

The median list price for condos in FMLS Area 21 increased 18.1% on a year-over-year basis from $275,000 in March 2018 to $324,900 in March 2019.

$500,000 $400,000

The median sale price for condos in FMLS Area 21 increased 13.7% on a year-over-year basis from $233,000 in March 2018 to $265,000 in March 2019.

$300,000 $200,000 $100,000 $0

3Q16

1Q17

3Q17

1Q18

3Q18

1Q19

AVERAGE SALE PRICE

+ 9.5%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE

$600,000

The average list price for condos in FMLS Area 21 increased 23.2% on a year-over-year basis from $418,645 in March 2018 to $515,931 in March 2019.

$500,000 $400,000

The average sale price for condos in FMLS Area 21 increased 9.5% on a year-over-year basis from $322,862 in March 2018 to $353,427 in March 2019.

$300,000 $200,000 $100,000 $0 3Q16

1Q17

3Q17

ATLANTA ENGEL & VÖLKERS ATLANTA

1Q18

3Q18

1Q19

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | CONDOS

13 13

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | CONDOS

MEDIAN CDOM

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET

+ 19.0% 120

The median number of continuous days on market (CDOM) for condos in FMLS Area 21 increased 19.0% on a yearover-year basis from 21 days in March 2018 to 25 days in March 2019.

90

60

30

0

3Q16

1Q17

3Q17

1Q18

3Q18

1Q19

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 0.3%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE

102%

The ratio of SP/OLP for condos in FMLS Area 21 decreased 0.3% on a year-overyear basis from 97.8% in March 2018 to 97.5% in March 2019.

100% 98%

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

96% 94% 92%

3Q16

www.evatlanta.com

1Q17

3Q17

ENGEL & VÖLKERS ATLANTA

1Q18

3Q18

1Q19

ATLANTA www.evatlanta.com

14 14

ATLANTA MARKET INTELLIGENCE AREA21 21 | | TOWNHOMES TOWNHOMES ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA

FMLS AREA 21 TOWNHOMES

SUMMARY OF TOWNHOME MARKET ACTIVITY The number of active townhome listings in FMLS Area 21 decreased 16.5% on a year-over-year basis from 91 in March 2018 to 76 in March 2019. The number of new townhome listings in FMLS Area 21 increased 2.6% on a year-over-year basis from 38 in March 2018 to 39 in March 2019. The number of townhome sales in FMLS Area 21 decreased 18.2% on a year-over-year basis from 22 in March 2018 to 18 in March 2019. The months of inventory for townhomes in FMLS Area 21 increased 2.1% on a year-over-year basis from 4.1 months in March 2018 to 4.2 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

- 16.5%

+ 2.6%

- 18.2%

+ 2.1%

ATLANTA ENGEL & VÖLKERS ATLANTA

+ 30.0%

- 0.8%

- 3.6%

+ 318.2%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | TOWNHOMES

15 15

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | TOWNHOMES

SUPPLY DYNAMICS The number of active townhome listings in FMLS Area 21 decreased 16.5% on a year-over-year basis from 91 in March 2018 to 76 in March 2019.

120

90

The number of new townhome listings in FMLS Area 21 increased 2.6% on a year-over-year basis from 38 in March 2018 to 39 in March 2019.

120

The number of townhome sales in FMLS Area 21 decreased 18.2% on a year-over-year basis from 22 in March 2018 to 18 in March 2019.

90

60

60

30

30

0

2Q16

3Q16

4Q16

1Q17

2Q17

3Q17

4Q17

1Q18

2Q18

3Q18

4Q18

1Q19

0

MONTHS OF INVENTORY

10

The months of inventory for townhomes in FMLS Area 21 increased 2.1% on a yearover-year basis from 4.1 months in March 2018 to 4.2 months in March 2019.

8 6 4 2 0

3Q16

1Q17

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3Q17

1Q18

ENGEL & VÖLKERS ATLANTA

3Q18

1Q19

ATLANTA www.evatlanta.com

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | TOWNHOMES ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | TOWNHOMES

16 16

MEDIAN SALE PRICE

+ 30.0%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE

$1,000,000

The median list price for townhomes in FMLS Area 21 decreased 13.4% on a year-over-year basis from $617,500 in March 2018 to $535,000 in March 2019.

$750,000

The median sale price for townhomes in FMLS Area 21 increased 30.0% on a year-over-year basis from $405,500 in March 2018 to $527,325 in March 2019.

$500,000

$250,000

$0

3Q16

1Q17

3Q17

1Q18

3Q18

1Q19

AVERAGE SALE PRICE

- 0.8%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE

$1,000,000

The average list price for townhomes in FMLS Area 21 increased 7.3% on a year-over-year basis from $606,532 in March 2018 to $650,704 in March 2019.

$750,000

The average sale price for townhomes in FMLS Area 21 decreased 0.8% on a year-over-year basis from $534,113 in March 2018 to $529,758 in March 2019.

$500,000

$250,000

$0 3Q16

1Q17

3Q17

ATLANTA ENGEL & VÖLKERS ATLANTA

1Q18

3Q18

1Q19

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | TOWNHOMES

17 17

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | TOWNHOMES MEDIAN CDOM

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET

+ 318.2% 120

The median number of continuous days on market (CDOM) for townhomes in FMLS Area 21 increased 318.2% on a year-over-year basis from 11 days in March 2018 to 46 days in March 2019.

90

60

30

0

3Q16

1Q17

3Q17

1Q18

3Q18

1Q19

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 3.6%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE

102%

The ratio of SP/OLP for townhomes in FMLS Area 21 decreased 3.6% on a yearover-year basis from 99.9% in March 2018 to 96.3% in March 2019.

100% 98%

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

96% 94% 92% 90%

3Q16

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1Q17

3Q17

ENGEL & VÖLKERS ATLANTA

1Q18

3Q18

1Q19

ATLANTA www.evatlanta.com

18 18

ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA ATLANTA MARKET INTELLIGENCE AREA2121| |SFD SFD

FMLS AREA 21

SINGLE FAMILY DETACHED (SFD)

SUMMARY OF SFD MARKET ACTIVITY The number of active SFD listings in FMLS Area 21 increased 6.5% on a year-over-year basis from 417 in March 2018 to 444 in March 2019. The number of new SFD listings in FMLS Area 21 increased 2.6% on a year-over-year basis from 193 in March 2018 to 198 in March 2019. The number of SFD sales in FMLS Area 21 increased 6.3% on a year-over-year basis from 79 in March 2018 to 84 in March 2019. The months of inventory for SFD in FMLS Area 21 increased 0.1% on a year-over-year basis from 5.3 months in March 2018 to 5.3 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 6.5%

+ 2.6%

+ 6.3%

+ 0.1%

ENGEL & VÖLKERS ATLANTA ATLANTA

- 0.6%

+ 4.5%

- 1.0%

+ 30.6%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | SFD

19 19

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | SFD

SUPPLY DYNAMICS The number of active SFD listings in FMLS Area 21 increased 6.5% on a year-over-year basis from 417 in March 2018 to 444 in March 2019.

600

The number of new SFD listings in FMLS Area 21 increased 2.6% on a year-over-year basis from 193 in March 2018 to 198 in March 2019.

600

The number of SFD sales in FMLS Area 21 increased 6.3% on a year-over-year basis from 79 in March 2018 to 84 in March 2019.

450

450

300

300

150

150

0

2Q16

3Q16

4Q16

1Q17

2Q17

3Q17

4Q17

1Q18

2Q18

3Q18

4Q18

1Q19

0

MONTHS OF INVENTORY

16

The months of inventory for SFD in FMLS Area 21 increased 0.1% on a year-over-year basis from 5.3 months in March 2018 to 5.3 months in March 2019.

14 12 10 8 6 4 2 0

3Q16

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1Q17

3Q17

1Q18

ENGEL & VÖLKERS ATLANTA

3Q18

1Q19

ATLANTA

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ATLANTA MARKET 1Q19 || FMLS FMLSAREA AREA2121| SFD | SFD ATLANTA MARKETINTELLIGENCE INTELLIGENCE || 1Q19

20

MEDIAN SALE PRICE

- 0.6%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE

$1,600,000

The median list price for SFD in FMLS Area 21 increased 14.9% on a year-over-year basis from $950,000 in March 2018 to $1,091,250 in March 2019.

$1,400,000 $1,200,000

The median sale price for SFD in FMLS Area 21 decreased 0.6% on a year-over-year basis from $875,000 in March 2018 to $870,000 in March 2019.

$1,000,000 $800,000 $600,000

3Q16

1Q17

3Q17

1Q18

3Q18

1Q19

AVERAGE SALE PRICE

+ 4.5%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for SFD in FMLS Area 21 increased 12.0% on a year-over-year basis from $1,207,940 in March 2018 to $1,352,457 in March 2019.

$1,600,000 $1,400,000 $1,200,000

The average sale price for SFD in FMLS Area 21 increased 4.5% on a year-over-year basis from $1,111,336 in March 2018 to $1,161,639 in March 2019.

$1,000,000 $800,000 $600,000 3Q16

1Q17

3Q17

ENGEL & VÖLKERS ATLANTA ATLANTA

1Q18

3Q18

1Q19

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | SFD

21 21

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 21 | SFD

MEDIAN CDOM

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET

+ 30.6% 120

The median number of continuous days on market (CDOM) for SFD in FMLS Area 21 increased 30.6% on a yearover-year basis from 36 days in March 2018 to 47 days in March 2019.

90

60

30

0

3Q16

1Q17

3Q17

1Q18

3Q18

1Q19

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 1.0%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE

102%

The ratio of SP/OLP for SFD in FMLS Area 21 decreased 1.0% on a year-over-year basis from 96.4% in March 2018 to 95.4% in March 2019.

100% 98%

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

96% 94% 92% 90%

3Q16

www.evatlanta.com

1Q17

3Q17

ENGEL & VÖLKERS ATLANTA

1Q18

3Q18

1Q19

ATLANTA www.evatlanta.com

22

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22

24

FMLS AREA 22 132 51 400

71

21

285

85

75 285 85

22

23 24

20

32

31

285

52

20

53

75 85

First Multiple Listing Service (FMLS) Area 22 includes Downtown and Atlanta’s westside neighborhoods. It includes Home Park, Loring Heights, Castleberry Hill, Blandtown, the portion of Buckhead that falls south of I-75 and numerous other neighborhoods. FMLS Area 22 is bound by the connector (I-75/85) to the east, the Chattahoochee River and I-285 to the west, I-75 to the north and I-20 to the south.

ATLANTA

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ATLANTA INTELLIGENCE | 1Q19| |1Q19 FMLS AREAAREA 22 22 ATLANTA MARKET MARKET INTELLIGENCE REPORT | FMLS

25 25

FMLS AREA 22

SUMMARY OF MARKET ACTIVITY ATTACHED HOMES The following table shows activity for attached homes (condos and townhomes) in FMLS Area 22 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 37 217 18 49 92% 2

$200K $299K 33 269 22 24 99% 1

$300K $399K 28 135 11 48 99% 2

$400K $499K 23 44 4 80 97% 6

$500K $599K 18 29 2 91 98% 7

$600K $699K 11 14 1 59 100% 9

$700K $799K 4 3 0 97 99% 16

$800K $899K 7 1 0 0 100% 84

$900K $999K 1 0 0 0 0% 0

$1M $2M 4 2 0 70 91% 24

$2M $5M 1 1 0 223 89% 12

AVG/ > $5M 0 0 0 0 0% 0

TOTALS 167 715 60 40 96% 3

SOURCE: FMLS 2019; Area 22, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

DETACHED HOMES The following table shows activity for detached homes (single family) in FMLS Area 22 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 102 426 36 36 94% 3

$200K $299K 34 102 9 35 97% 4

$300K $399K 22 84 7 36 98% 3

$400K $499K 28 98 8 38 97% 3

$500K $599K 9 41 3 87 98% 3

$600K $699K 27 17 1 75 98% 19

$700K $799K 3 4 0 115 93% 9

$800K $899K 1 5 0 218 95% 2

$900K $999K 1 5 0 88 95% 2

$1M $2M 8 16 1 185 88% 6

$2M $5M 8 6 1 208 85% 16

AVG/ > $5M 3 1 0 1123 58% 36

TOTALS 246 805 67 47 95% 4

SOURCE: FMLS 2019; Area 22, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

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ATLANTA MARKET INTELLIGENCE ATLANTA MARKET INTELLIGENCE| 1Q19 | 1Q19| |FMLS FMLSAREA AREA 22 22 || CONDOS CONDOS

26

FMLS AREA 22 CONDOMINIUMS

SUMMARY OF CONDOMINIUM MARKET ACTIVITY The number of active condo listings in FMLS Area 22 increased 72.3% on a year-over-year basis from 83 in March 2018 to 143 in March 2019. The number of new condo listings in FMLS Area 22 increased 35.5% on a year-over-year basis from 62 in March 2018 to 84 in March 2019. The number of condo sales in FMLS Area 22 decreased 34.6% on a yearover-year basis from 52 in March 2018 to 34 in March 2019. The months of inventory for condos in FMLS Area 22 increased 163.5% on a year-over-year basis from 1.6 months in March 2018 to 4.2 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 72.3%

+ 35.5%

- 34.6%

+ 163.5%

ENGEL & VÖLKERS ATLANTA ATLANTA

- 1.3%

- 11.5%

- 0.5%

+ 362.5%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | CONDOS

27 27

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | CONDOS

SUPPLY DYNAMICS The number of active condo listings in FMLS Area 22 increased 72.3% on a year-over-year basis from 83 in March 2018 to 143 in March 2019.

The number of new condo listings in FMLS Area 22 increased 35.5% on a year-over-year basis from 62 in March 2018 to 84 in March 2019.

The number of condo sales in FMLS Area 22 decreased 34.6% on a year-over-year basis from 52 in March 2018 to 34 in March 2019.

MONTHS OF INVENTORY The months of inventory for condos in FMLS Area 22 increased 163.5% on a year-overyear basis from 1.6 months in March 2018 to 4.2 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

28 28

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | CONDOS ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | CONDOS

MEDIAN SALE PRICE

- 1.3%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for condos in FMLS Area 22 increased 49.4% on a year-over-year basis from $222,500 in March 2018 to $332,450 in March 2019.

The median sale price for condos in FMLS Area 22 decreased 1.3% on a year-over-year basis from $225,000 in March 2018 to $222,000 in March 2019.

AVERAGE SALE PRICE

- 11.5%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for condos in FMLS Area 22 increased 26.1% on a year-over-year basis from $315,736 in March 2018 to $398,142 in March 2019.

The average sale price for condos in FMLS Area 22 decreased 11.5% on a year-over-year basis from $259,721 in March 2018 to $229,981 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | CONDOS

29 29

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | CONDOS

MEDIAN CDOM

+ 362.5%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for condos in FMLS Area 22 increased 362.5% on a yearover-year basis from 8 days in March 2018 to 37 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 0.5%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for condos in FMLS Area 22 decreased 0.5% on a year-overyear basis from 97.7% in March 2018 to 97.2% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

30 30

ATLANTA MARKET INTELLIGENCE ATLANTA MARKET INTELLIGENCE| 1Q19 | 1Q19| FMLS | FMLSAREA AREA22 22 | | TOWNHOMES TOWNHOMES

FMLS AREA 22 TOWNHOMES

SUMMARY OF TOWNHOME MARKET ACTIVITY The number of active townhome listings in FMLS Area 22 increased 44.4% on a year-over-year basis from 27 in March 2018 to 39 in March 2019. The number of new townhome listings in FMLS Area 22 increased 17.4% on a year-over-year basis from 23 in March 2018 to 27 in March 2019. The number of townhome sales in FMLS Area 22 increased 10.0% on a year-over-year basis from 20 in March 2018 to 22 in March 2019. The months of inventory for townhomes in FMLS Area 22 increased 31.3% on a year-over-year basis from 1.4 months in March 2018 to 1.8 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

+ 25.4%

+ 0.4%

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 44.4%

+ 17.4%

+ 10.0%

+ 31.3%

ATLANTA ENGEL & VÖLKERS ATLANTA

+ 18.7%

RATIO OF SP/OLP

+ 33.3%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | TOWNHOMES

31 31

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | TOWNHOMES

SUPPLY DYNAMICS The number of active townhome listings in FMLS Area 22 increased 44.4% on a year-over-year basis from 27 in March 2018 to 39 in March 2019.

The number of new townhome listings in FMLS Area 22 increased 17.4% on a year-over-year basis from 23 in March 2018 to 27 in March 2019.

The number of townhome sales in FMLS Area 22 increased 10.0% on a year-over-year basis from 20 in March 2018 to 22 in March 2019.

MONTHS OF INVENTORY The months of inventory for townhomes in FMLS Area 22 increased 31.3% on a yearover-year basis from 1.4 months in March 2018 to 1.8 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

32 32

ATLANTA MARKET INTELLIGENCE ATLANTA MARKET INTELLIGENCE| 1Q19 | 1Q19| |FMLS FMLSAREA AREA 22 22 || TOWNHOMES TOWNHOMES

MEDIAN SALE PRICE

+ 25.4%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for townhomes in FMLS Area 22 increased 20.5% on a year-over-year basis from $282,000 in March 2018 to $339,900 in March 2019.

The median sale price for townhomes in FMLS Area 22 increased 25.4% on a year-over-year basis from $277,750 in March 2018 to $348,348 in March 2019.

AVERAGE SALE PRICE

+ 18.7%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for townhomes in FMLS Area 22 increased 17.4% on a year-over-year basis from $312,158 in March 2018 to $366,595 in March 2019.

The average sale price for townhomes in FMLS Area 22 increased 18.7% on a year-over-year basis from $317,569 in March 2018 to $377,009 in March 2019.

ENGEL & VÖLKERS ATLANTA ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | TOWNHOMES

33

33

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | TOWNHOMES MEDIAN CDOM

+ 33.3%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for townhomes in FMLS Area 22 decreased 64.1% on a year-over-year basis from 39 days in March 2018 to 14 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

+ 0.4%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for townhomes in FMLS Area 22 increased 0.4% on a yearover-year basis from 99.6% in March 2018 to 100.0% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

A neutral market will have a ratio of roughly 95%. Ratios below 95% indicate a buyer’s market and ratios above 95% indicate a seller’s market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA

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ATLANTA MARKET INTELLIGENCE AREA2222| |SFD SFD ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA

34 34

FMLS AREA 22

SINGLE FAMILY DETACHED (SFD)

SUMMARY OF SFD MARKET ACTIVITY The number of active SFD listings in FMLS Area 22 increased 53.4% on a year-over-year basis from 178 in March 2018 to 273 in March 2019. The number of new SFD listings in FMLS Area 22 increased 55.1% on a year-over-year basis from 107 in March 2018 to 166 in March 2019. The number of SFD sales in FMLS Area 22 decreased 23.5% on a year-overyear basis from 85 in March 2018 to 65 in March 2019. The months of inventory for SFD in FMLS Area 22 increased 100.6% on a year-over-year basis from 2.1 months in March 2018 to 4.2 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 53.4%

+ 55.1%

- 23.5%

+ 100.6%

ATLANTA ENGEL & VÖLKERS ATLANTA

+ 42.2%

+ 13.4%

- 3.5%

+ 33.3%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | SFD

35 35

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | SFD

SUPPLY DYNAMICS The number of active SFD listings in FMLS Area 22 increased 53.4% on a year-over-year basis from 178 in March 2018 to 273 in March 2019.

The number of new SFD listings in FMLS Area 22 increased 55.1% on a year-over-year basis from 107 in March 2018 to 166 in March 2019.

The number of SFD sales in FMLS Area 22 decreased 23.5% on a year-over-year basis from 85 in March 2018 to 65 in March 2019.

MONTHS OF INVENTORY The months of inventory for SFD in FMLS Area 22 increased 100.6% on a year-overyear basis from 2.1 months in March 2018 to 4.2 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

36 36

ATLANTA MARKET INTELLIGENCE 22 | | SFD SFD ATLANTA MARKET INTELLIGENCE | | 1Q19 1Q19 || FMLS FMLS AREA AREA 22

MEDIAN SALE PRICE

+ 42.2%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for SFD in FMLS Area 22 increased 30.8% on a year-over-year basis from $204,000 in March 2018 to $266,900 in March 2019.

The median sale price for SFD in FMLS Area 22 increased 42.2% on a year-over-year basis from $132,900 in March 2018 to $189,000 in March 2019.

AVERAGE SALE PRICE

+ 13.4%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for SFD in FMLS Area 22 increased 16.0% on a year-over-year basis from $350,669 in March 2018 to $406,800 in March 2019.

The average sale price for SFD in FMLS Area 22 increased 13.4% on a year-over-year basis from $240,397 in March 2018 to $272,672 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | SFD

37 37

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 22 | SFD

MEDIAN CDOM

+ 33.3%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for SFD in FMLS Area 22 increased 33.3% on a yearover-year basis from 15 days in March 2018 to 20 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 3.5%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for SFD in FMLS Area 22 decreased 3.5% on a year-over-year basis from 100.0% in March 2018 to 96.5% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

23

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23

40

FMLS AREA 23 132 51 400

71

21

285

85

75 285 85

22

23 24

20

32

31

285

52

20

53

75 85

First Multiple Listing Service (FMLS) Area 23 is made up of Midtown and Atlanta’s eastside neighborhoods that fall within Fulton County. It includes Ansley Park, Morningside-Lenox Park, Virginia-Highland, Old Fourth Ward, Inman Park, Cabbagetown and numerous other neighborhoods.

FMLS Area 23 is bound by the connector (I75/85) to the west, the Fulton/DeKalb line to the east, I-85 to the north, and I-20 to the south.

ATLANTA

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41 41

ATLANTAMARKET MARKET INTELLIGENCE REPORT FMLS AREA ATLANTA INTELLIGENCE | 1Q19| | 1Q19 FMLS| AREA 23 23

FMLS AREA 23

SUMMARY OF MARKET ACTIVITY ATTACHED HOMES The following table shows activity for attached homes (condos and townhomes) in FMLS Area 23 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 35 237 20 40 96% 2

$200K $299K 80 478 40 26 96% 2

$300K $399K 62 318 27 28 99% 2

$400K $499K 52 166 14 36 99% 4

$500K $599K 34 77 6 48 98% 5

$600K $699K 26 48 4 89 97% 7

$700K $799K 19 22 2 95 97% 10

$800K $899K 12 14 1 63 97% 10

$900K $999K 9 9 1 74 96% 12

$1M $2M 20 13 1 171 95% 18

$2M $5M 7 3 0 212 103% 28

AVG/ > $5M 0 0 0 0 0% 0

TOTALS 356 1385 115 35 97% 3

SOURCE: FMLS 2019; Area 23, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

DETACHED HOMES The following table shows activity for detached homes (single family) in FMLS Area 23 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 5 19 2 32 96% 3

$200K $299K 2 10 1 42 86% 2

$300K $399K 10 26 2 25 96% 5

$400K $499K 11 50 4 34 98% 3

$500K $599K 8 60 5 48 94% 2

$600K $699K 19 60 5 39 97% 4

$700K $799K 17 49 4 46 97% 4

$800K $899K 15 35 3 42 97% 5

$900K $999K 6 39 3 72 97% 2

$1M $2M 62 116 10 86 95% 6

$2M $5M 14 13 1 109 96% 13

AVG/ > $5M 0 0 0 0 0% 0

TOTALS 169 477 40 56 96% 4

SOURCE: FMLS 2019; Area 23, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

ENGEL & VÖLKERS ATLANTA

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ATLANTA

ATLANTA MARKET INTELLIGENCE ATLANTA MARKET INTELLIGENCE| 1Q19 | 1Q19| FMLS | FMLSAREA AREA 23 23 || CONDOS CONDOS

42

FMLS AREA 23 CONDOMINIUMS

SUMMARY OF CONDOMINIUM MARKET ACTIVITY The number of active condo listings in FMLS Area 23 increased 130.6% on a year-over-year basis from 134 in March 2018 to 309 in March 2019. The number of new condo listings in FMLS Area 23 increased 36.8% on a year-over-year basis from 136 in March 2018 to 186 in March 2019. The number of condo sales in FMLS Area 23 decreased 17.6% on a year-over-year basis from 119 in March 2018 to 98 in March 2019. The months of inventory for condos in FMLS Area 23 increased 180.0% on a year-over-year basis from 1.1 months in March 2018 to 3.2 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 130.6%

+ 36.8%

- 17.6%

+ 180.0%

ENGEL & VÖLKERS ATLANTA ATLANTA

+ 3.9%

- 0.6%

- 2.2%

+ 100.0%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | CONDOS

43 43

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | CONDOS

SUPPLY DYNAMICS The number of active condo listings in FMLS Area 23 increased 130.6% on a year-over-year basis from 134 in March 2018 to 309 in March 2019.

The number of new condo listings in FMLS Area 23 increased 36.8% on a year-over-year basis from 136 in March 2018 to 186 in March 2019.

The number of condo sales in FMLS Area 23 decreased 17.6% on a year-over-year basis from 119 in March 2018 to 98 in March 2019.

MONTHS OF INVENTORY The months of inventory for condos in FMLS Area 23 increased 180.0% on a year-overyear basis from 1.1 months in March 2018 to 3.2 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

44

ATLANTA MARKET INTELLIGENCE 23 || CONDOS ATLANTA MARKET INTELLIGENCE| |1Q19 1Q19| |FMLS FMLSAREA AREA 23 CONDOS

MEDIAN SALE PRICE

+ 3.9%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for condos in FMLS Area 23 increased 6.1% on a year-over-year basis from $289,900 in March 2018 to $307,500 in March 2019.

The median sale price for condos in FMLS Area 23 increased 3.9% on a year-over-year basis from $275,000 in March 2018 to $287,750 in March 2019.

AVERAGE SALE PRICE

- 0.6%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for condos in FMLS Area 23 increased 3.7% on a year-over-year basis from $365,593 in March 2018 to $379,255 in March 2019.

The average sale price for condos in FMLS Area 23 decreased 0.6% on a year-over-year basis from $317,591 in March 2018 to $315,826 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | CONDOS

45 45

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | CONDOS

MEDIAN CDOM

+ 100.0%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for condos in FMLS Area 23 increased 100% on a year-overyear basis from 11 days in March 2018 to 22 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 2.2%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for condos in FMLS Area 23 decreased 2.2% on a year-overyear basis from 100.0% in March 2018 to 97.8% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

46 46

ATLANTA MARKET INTELLIGENCE 23 || TOWNHOMES ATLANTA MARKET INTELLIGENCE| |1Q19 1Q19| |FMLS FMLSAREA AREA 23 TOWNHOMES

FMLS AREA 23 TOWNHOMES

SUMMARY OF TOWNHOME MARKET ACTIVITY The number of active townhome listings in FMLS Area 23 increased 111.8% on a year-over-year basis from 34 in March 2018 to 72 in March 2019. The number of new townhome listings in FMLS Area 23 increased 60.0% on a year-over-year basis from 25 in March 2018 to 40 in March 2019. The number of townhome sales in FMLS Area 23 decreased 45.0% on a year-over-year basis from 20 in March 2018 to 11 in March 2019. The months of inventory for townhomes in FMLS Area 23 increased 285.0% on a year-over-year basis from 1.7 months in March 2018 to 6.5 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 32.5%

+ 60.0%

- 45.0%

+ 285.0%

ATLANTA ENGEL & VÖLKERS ATLANTA

- 27.4%

- 18.2%

- 2.9%

+ 64.5%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | TOWNHOMES

47 47

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | TOWNHOMES

SUPPLY DYNAMICS The number of active townhome listings in FMLS Area 23 increased 111.8% on a year-over-year basis from 34 in March 2018 to 72 in March 2019.

The number of new townhome listings in FMLS Area 23 increased 60.0% on a year-over-year basis from 25 in March 2018 to 40 in March 2019.

The number of townhome sales in FMLS Area 23 decreased 45.0% on a year-over-year basis from 20 in March 2018 to 11 in March 2019.

MONTHS OF INVENTORY The months of inventory for townhomes in FMLS Area 23 increased 285.0% on a yearover-year basis from 1.7 months in March 2018 to 6.5 months in March 2019.

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ATLANTA www.evatlanta.com

48 48

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | TOWNHOMES ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | TOWNHOMES

MEDIAN SALE PRICE

- 27.4%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for townhomes in FMLS Area 23 increased 25.2% on a year-over-year basis from $479,000 in March 2018 to $599,900 in March 2019.

The median sale price for townhomes in FMLS Area 23 decreased 27.4% on a year-overyear basis from $599,450 in March 2018 to $435,500 in March 2019.

AVERAGE SALE PRICE

- 18.2%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for townhomes in FMLS Area 23 increased 6.7% on a year-over-year basis from $588,992 in March 2018 to $628,713 in March 2019.

The average sale price for townhomes in FMLS Area 23 decreased 18.2% on a year-overyear basis from $542,523 in March 2018 to $443,753 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | TOWNHOMES

49 49

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | TOWNHOMES MEDIAN CDOM

+ 64.5%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for townhomes in FMLS Area 23 increased 64.5% on a year-over-year basis from 31 days in March 2018 to 51 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 1.2%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for townhomes in FMLS Area 23 decreased 2.9% on a yearover-year basis from 99.5% in March 2018 to 96.6% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

ATLANTA MARKET INTELLIGENCE AREA2323| |SFD SFD ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA

50 50

FMLS AREA 23

SINGLE FAMILY DETACHED (SFD)

SUMMARY OF SFD MARKET ACTIVITY The number of active SFD listings in FMLS Area 23 increased 26.6% on a year-over-year basis from 143 in March 2018 to 181 in March 2019. The number of new SFD listings in FMLS Area 23 increased 24.1% on a year-over-year basis from 87 in March 2018 to 108 in March 2019. The number of SFD sales in FMLS Area 23 increased 31.4% on a year-over-year basis from 35 in March 2018 to 46 in March 2019. The months of inventory for SFD in FMLS Area 23 decreased 3.7% on a year-over-year basis from 4.1 months in March 2018 to 3.9 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 26.6%

+ 24.1%

+ 31.4%

- 3.7%

ATLANTA ENGEL & VÖLKERS ATLANTA

+ 2.9%

- 4.6%

- 0.2%

- 54.3%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | SFD

51 51

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | SFD

SUPPLY DYNAMICS The number of active SFD listings in FMLS Area 23 increased 26.6% on a year-over-year basis from 143 in March 2018 to 181 in March 2019.

The number of new SFD listings in FMLS Area 23 increased 24.1% on a year-over-year basis from 87 in March 2018 to 108 in March 2019.

The number of SFD sales in FMLS Area 23 increased 31.4% on a year-over-year basis from 35 in March 2018 to 46 in March 2019.

MONTHS OF INVENTORY The months of inventory for SFD in FMLS Area 23 decreased 3.7% on a year-over-year basis from 4.1 months in March 2018 to 3.9 months in March 2019.

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ATLANTA MARKET INTELLIGENCE 23 || SFD SFD ATLANTA MARKET INTELLIGENCE | |1Q19 1Q19 | | FMLS FMLS AREA AREA 23

52 52

MEDIAN SALE PRICE

+ 2.9%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for SFD in FMLS Area 23 increased 10.4% on a year-over-year basis from $789,900 in March 2018 to $872,000 in March 2019.

The median sale price for SFD in FMLS Area 23 increased 2.9% on a year-over-year basis from $629,000 in March 2018 to $647,250 in March 2019.

AVERAGE SALE PRICE

- 4.6%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for SFD in FMLS Area 23 increased 15.7% on a year-over-year basis from $908,385 in March 2018 to $1,051,451 in March 2019.

The average sale price for SFD in FMLS Area 23 decreased 4.6% on a year-over-year basis from $784,288 in March 2018 to $748,309 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | SFD

53 53

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 23 | SFD

MEDIAN CDOM

- 54.3%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for SFD in FMLS Area 23 decreased 54.3% on a yearover-year basis from 70 days in March 2018 to 32 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 0.2%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for SFD in FMLS Area 23 decreased 0.2% on a year-over-year basis from 97.1% in March 2018 to 96.9% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ATLANTA www.evatlanta.com

24

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24

56

FMLS AREA 24 132 51 400

71

21

285

85

75 285 85

22

23 24

20

32

31

285

52

20

53

75 85

First Multiple Listing Service (FMLS) Area 24 includes Atlanta’s eastside neighborhoods that fall within DeKalb County. It includes Druid Hills, Candler Park, Lake Claire, Edgewood, Kirkwood, East Atlanta and several other neighborhoods.

FMLS Area 24 is bound by the Fulton/DeKalb line to the west, and the City of Atlanta bounds to the east, north and south.

ATLANTA

www.evatlanta.com

57 57

ATLANTAMARKET MARKET INTELLIGENCE REPORT FMLS AREA ATLANTA INTELLIGENCE | 1Q19| | 1Q19 FMLS| AREA 24 24

FMLS AREA 24

SUMMARY OF MARKET ACTIVITY ATTACHED HOMES The following table shows activity for attached homes (condos and townhomes) in FMLS Area 24 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 2 34 3 10 97% 1

$200K $299K 12 66 6 16 100% 2

$300K $399K 6 44 4 16 100% 2

$400K $499K 29 35 3 63 98% 10

$500K $599K 15 44 4 80 99% 4

$600K $699K 1 6 1 40 98% 2

$700K $799K 2 0 0 0 0% 0

$800K $899K 1 0 0 0 0% 0

$900K $999K 0 0 0 0 0% 0

$1M $2M 1 0 0 0 0% 0

$2M $5M 1 0 0 0 0% 0

AVG/ > $5M 0 0 0 0 0% 0

TOTALS 70 229 19 36 99% 4

SOURCE: FMLS 2019; Area 24, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

DETACHED HOMES The following table shows activity for detached homes (single family) in FMLS Area 24 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 5 24 2 33 63% 3

$200K $299K 21 92 8 45 94% 3

$300K $399K 34 150 13 29 98% 3

$400K $499K 20 135 11 43 99% 2

$500K $599K 30 108 9 44 99% 3

$600K $699K 25 57 5 57 98% 5

$700K $799K 8 44 4 50 97% 2

$800K $899K 4 16 1 60 99% 3

$900K $999K 6 8 1 24 95% 9

$1M $2M 8 19 2 79 92% 5

$2M $5M 3 0 0 0 0% 0

AVG/ > $5M 0 0 0 0 0% 0

TOTALS 164 653 54 44 96% 3

SOURCE: FMLS 2019; Area 24, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

ENGEL & VÖLKERS ATLANTA

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ATLANTA

ATLANTA MARKET INTELLIGENCE ATLANTA MARKET INTELLIGENCE| 1Q19 | 1Q19| FMLS | FMLSAREA AREA 24 24 || CONDOS CONDOS

58

FMLS AREA 24 CONDOMINIUMS

SUMMARY OF CONDOMINIUM MARKET ACTIVITY The number of active condo listings in FMLS Area 24 increased 200.0% on a year-over-year basis from 6 in March 2018 to 18 in March 2019. The number of new condo listings in FMLS Area 24 increased 7.1% on a year-over-year basis from 14 in March 2018 to 15 in March 2019. The number of condo sales in FMLS Area 24 decreased 41.7% on a year-overyear basis from 12 in March 2018 to 7 in March 2019. The months of inventory for condos in FMLS Area 24 increased 414.3% on a year-over-year basis from 0.5 months in March 2018 to 2.6 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 200.0%

+ 7.1%

- 41.7%

+ 414.3%

ENGEL & VÖLKERS ATLANTA ATLANTA

- 30.0%

- 28.0%

- 4.0%

+ 225.0%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | CONDOS

59 59

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | CONDOS

SUPPLY DYNAMICS The number of active condo listings in FMLS Area 24 increased 200.0% on a year-over-year basis from 6 in March 2018 to 18 in March 2019.

The number of new condo listings in FMLS Area 24 increased 7.1% on a year-over-year basis from 14 in March 2018 to 15 in March 2019.

The number of condo sales in FMLS Area 24 decreased 41.7% on a year-over-year basis from 12 in March 2018 to 7 in March 2019.

MONTHS OF INVENTORY The months of inventory for condos in FMLS Area 24 increased 414.3% on a year-overyear basis from 0.5 months in March 2018 to 2.6 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

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60 60

ATLANTA MARKET INTELLIGENCE 24 || CONDOS CONDOS ATLANTA MARKET INTELLIGENCE| |1Q19 1Q19 | |FMLS FMLS AREA AREA 24

MEDIAN SALE PRICE

- 30.0%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for condos in FMLS Area 24 increased 23.7% on a year-over-year basis from $217,500 in March 2018 to $269,000 in March 2019.

The median sale price for condos in FMLS Area 24 decreased 30.0% on a year-over-year basis from $294,000 in March 2018 to $205,850 in March 2019.

AVERAGE SALE PRICE

- 28.0%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for condos in FMLS Area 24 increased 4.1% on a year-over-year basis from $275,279 in March 2018 to $286,592 in March 2019.

The average sale price for condos in FMLS Area 24 decreased 28.0% on a year-over-year basis from $264,275 in March 2018 to $190,393 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | CONDOS

61 61

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | CONDOS MEDIAN CDOM

+ 225.0%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for condos in FMLS Area 24 increased 225.0% on a yearover-year basis from 4 days in March 2018 to 13 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 4.0%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for condos in FMLS Area 24 decreased 4.0% on a year-overyear basis from 102.7% in March 2018 to 98.6% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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62 62

ATLANTA MARKET INTELLIGENCE ATLANTA MARKET INTELLIGENCE| 1Q19 | 1Q19| |FMLS FMLSAREA AREA 24 24 || TOWNHOMES TOWNHOMES

FMLS AREA 24 TOWNHOMES

SUMMARY OF TOWNHOME MARKET ACTIVITY The number of active townhome listings in FMLS Area 24 increased 87.1% on a year-over-year basis from 31 in March 2018 to 58 in March 2019. The number of new townhome listings in FMLS Area 24 increased 31.8% on a year-over-year basis from 22 in March 2018 to 29 in March 2019. The number of townhome sales in FMLS Area 24 increased 300% on a year-over-year basis from 3 in March 2018 to 12 in March 2019. The months of inventory for townhomes in FMLS Area 24 decreased 53.2% on a year-over-year basis from 10.3 months in March 2018 to 4.8 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

+ 87.1%

NUMBER OF CLOSINGS

+ 300.0%

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 31.8%

- 53.2%

ENGEL & VÖLKERS ATLANTA ATLANTA

+ 17.4%

+ 6.9%

- 1.2%

- 53.8%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | TOWNHOMES

63 63

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | TOWNHOMES

SUPPLY DYNAMICS The number of active townhome listings in FMLS Area 24 increased 87.1% on a year-over-year basis from 31 in March 2018 to 58 in March 2019.

The number of new townhome listings in FMLS Area 24 increased 31.8% on a year-over-year basis from 22 in March 2018 to 29 in March 2019.

The number of townhome sales in FMLS Area 24 increased 300% on a year-over-year basis from 3 in March 2018 to 12 in March 2019.

MONTHS OF INVENTORY The months of inventory for townhomes in FMLS Area 24 decreased 53.2% on a yearover-year basis from 10.3 months in March 2018 to 4.8 months in March 2019.

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64

ATLANTA MARKET INTELLIGENCE ATLANTA MARKET INTELLIGENCE| 1Q19 | 1Q19| |FMLS FMLSAREA AREA 24 24 || TOWNHOMES TOWNHOMES

MEDIAN SALE PRICE

+ 17.4%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for townhomes in FMLS Area 24 increased 2.4% on a year-over-year basis from $504,900 in March 2018 to $516,894 in March 2019.

The median sale price for townhomes in FMLS Area 24 increased 17.4% on a year-over-year basis from $395,000 in March 2018 to $463,750 in March 2019.

AVERAGE SALE PRICE

+ 6.9%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for townhomes in FMLS Area 24 increased 23.4% on a year-over-year basis from $506,820 in March 2018 to $625,319 in March 2019.

The average sale price for townhomes in FMLS Area 24 increased 6.9% on a year-over-year basis from $383,040 in March 2018 to $409,279 in March 2019.

ENGEL & VÖLKERS ATLANTA ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | TOWNHOMES

65 65

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | TOWNHOMES MEDIAN CDOM

- 53.8%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for townhomes in FMLS Area 24 decreased 53.8% on a year-over-year basis from 13 days in March 2018 to 6 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 1.2%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for townhomes in FMLS Area 24 decreased 1.2% on a yearover-year basis from 101.2% in March 2018 to 100.0% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ATLANTA MARKET INTELLIGENCE AREA2424| |SFD SFD ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA

66

FMLS AREA 24

SINGLE FAMILY DETACHED (SFD)

SUMMARY OF SFD MARKET ACTIVITY The number of active SFD listings in FMLS Area 24 increased 34.9% on a year-over-year basis from 129 in March 2018 to 174 in March 2019. The number of new SFD listings in FMLS Area 24 increased 31.8% on a year-over-year basis from 85 in March 2018 to 112 in March 2019. The number of SFD sales in FMLS Area 24 decreased 29.7% on a year-overyear basis from 64 in March 2018 to 45 in March 2019. The months of inventory for SFD in FMLS Area 24 increased 91.8% on a year-over-year basis from 2.0 months in March 2018 to 3.9 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

- 0.9%

+ 0.4%

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 2.4%

+ 7.9%

- 29.8%

+ 45.8%

ENGEL & VÖLKERS ATLANTA ATLANTA

- 1.0%

RATIO OF SP/OLP

- 40.7%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | SFD

67 67

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | SFD

SUPPLY DYNAMICS The number of active SFD listings in FMLS Area 24 increased 34.9% on a year-over-year basis from 129 in March 2018 to 174 in March 2019.

The number of new SFD listings in FMLS Area 24 increased 31.8% on a year-over-year basis from 85 in March 2018 to 112 in March 2019.

The number of SFD sales in FMLS Area 24 decreased 29.7% on a year-over-year basis from 64 in March 2018 to 45 in March 2019.

MONTHS OF INVENTORY The months of inventory for SFD in FMLS Area 24 increased 91.8% on a year-over-year basis from 2.0 months in March 2018 to 3.9 months in March 2019.

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ATLANTA MARKET INTELLIGENCE AREA24 24| | SFD SFD ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA

68 68

MEDIAN SALE PRICE

- 0.9%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for SFD in FMLS Area 24 decreased 9.3% on a year-over-year basis from $525,000 in March 2018 to $476,405 in March 2019.

The median sale price for SFD in FMLS Area 24 decreased 0.9% on a year-over-year basis from $447,450 in March 2018 to $443,500 in March 2019.

AVERAGE SALE PRICE

- 1.0%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for SFD in FMLS Area 24 decreased 4.1% on a year-over-year basis from $563,435 in March 2018 to $540,293 in March 2019.

The average sale price for SFD in FMLS Area 24 decreased 1.0% on a year-over-year basis from $447,642 in March 2018 to $443,263 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | SFD

69 69

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 24 | SFD

MEDIAN CDOM

- 40.7%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for SFD in FMLS Area 24 decreased 40.7% on a yearover-year basis from 27 days in March 2018 to 16 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

+ 0.4%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for SFD in FMLS Area 24 increased 0.4% on a year-over-year basis from 98.7% in March 2018 to 99.1% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ATLANTA www.evatlanta.com

51

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51

72

FMLS AREA 51 132 51 400

71

21

285

85

75 285 85

22

23 24

20

32

31

285

52

20

53

75 85

First Multiple Listing Service (FMLS) Area 51 encompasses the DeKalb County municipalities of Brookhaven, Chamblee and Doraville. It includes Ashford Park, North Brookhaven, Keswick Forest and numerous other neighborhoods. FMLS Area 51 is bound by the Fulton/DeKalb line to the west, I-85 to the east and south, and I-285 to the north.

ATLANTA

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73 73

ATLANTAMARKET MARKET INTELLIGENCE REPORT FMLS AREA ATLANTA INTELLIGENCE | 1Q19| | 1Q19 FMLS| AREA 51 51

FMLS AREA 51

SUMMARY OF MARKET ACTIVITY ATTACHED HOMES The following table shows activity for attached homes (condos and townhomes) in FMLS Area 51 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 19 75 6 29 98% 3

$200K $299K 29 142 12 29 98% 2

$300K $399K 16 83 7 41 98% 2

$400K $499K 76 140 12 69 98% 7

$500K $599K 22 44 4 107 97% 6

$600K $699K 6 16 1 111 88% 5

$700K $799K 5 3 0 107 93% 20

$800K $899K 5 3 0 93 96% 20

$900K $999K 0 1 0 255 80% 0

$1M $2M 0 2 0 16 100% 0

$2M $5M 0 0 0 0 0% 0

AVG/ > $5M 0 0 0 0 0% 0

TOTALS 178 509 42 50 97% 4

SOURCE: FMLS 2019; Area 51, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

DETACHED HOMES The following table shows activity for detached homes (single family) in FMLS Area 51 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 2 28 2 24 87% 1

$200K $299K 5 71 6 46 96% 1

$300K $399K 30 158 13 40 95% 2

$400K $499K 27 151 13 30 97% 2

$500K $599K 30 129 11 41 98% 3

$600K $699K 26 82 7 54 97% 4

$700K $799K 28 82 7 79 98% 4

$800K $899K 17 62 5 66 96% 3

$900K $999K 30 41 3 75 97% 9

$1M $2M 28 50 4 92 95% 7

$2M $5M 5 5 0 48 98% 12

AVG/ > $5M 1 0 0 0 0% 0

TOTALS 229 859 72 50 96% 3

SOURCE: FMLS 2019; Area 51, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

ENGEL & VÖLKERS ATLANTA

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ATLANTA

ATLANTA MARKET INTELLIGENCE ATLANTA MARKET INTELLIGENCE| 1Q19 | 1Q19| FMLS | FMLSAREA AREA 51 51 || CONDOS CONDOS

74 74

FMLS AREA 51 CONDOMINIUMS

SUMMARY OF CONDOMINIUM MARKET ACTIVITY The number of active condo listings in FMLS Area 51 increased 200% on a year-over-year basis from 17 in March 2018 to 51 in March 2019. The number of new condo listings in FMLS Area 51 increased 100% on a year-over-year basis from 13 in March 2018 to 26 in March 2019. The number of condo sales in FMLS Area 51 decreased 51.7% on a year-over-year basis from 29 in March 2018 to 14 in March 2019. The months of inventory for condos in FMLS Area 51 increased 521.4% on a year-over-year basis from 0.6 months in March 2018 to 3.6 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 200.0%

+ 100.0%

- 51.7%

+ 521.4%

ATLANTA ENGEL & VÖLKERS ATLANTA

- 3.4%

- 12.4%

- 0.3%

+ 50.0%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | CONDOS

75 75

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | CONDOS

SUPPLY DYNAMICS The number of active condo listings in FMLS Area 51 increased 200% on a year-over-year basis from 17 in March 2018 to 51 in March 2019.

The number of new condo listings in FMLS Area 51 increased 100% on a year-over-year basis from 13 in March 2018 to 26 in March 2019.

The number of condo sales in FMLS Area 51 decreased 51.7% on a year-over-year basis from 29 in March 2018 to 14 in March 2019.

MONTHS OF INVENTORY The months of inventory for condos in FMLS Area 51 increased 521.4% on a year-overyear basis from 0.6 months in March 2018 to 3.6 months in March 2019.

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76 76

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | CONDOS ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | CONDOS

MEDIAN SALE PRICE

- 3.4%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for condos in FMLS Area 51 decreased 7.9% on a year-over-year basis from $233,000 in March 2018 to $214,500 in March 2019.

The median sale price for condos in FMLS Area 51 decreased 3.4% on a year-over-year basis from $226,500 in March 2018 to $218,750 in March 2019.

AVERAGE SALE PRICE

- 12.4%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for condos in FMLS Area 51 decreased 21.0% on a year-over-year basis from $265,785 in March 2018 to $210,068 in March 2019.

The average sale price for condos in FMLS Area 51 decreased 12.4% on a year-over-year basis from $286,121 in March 2018 to $250,636 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | CONDOS

77 77

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | CONDOS

MEDIAN CDOM

+ 50.0%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for condos in FMLS Area 51 increased 50% on a year-overyear basis from 4 days in March 2018 to 6 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 0.3%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for condos in FMLS Area 51 decreased 0.3% on a year-overyear basis from 100% in March 2018 to 99.7% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

78

ATLANTA MARKET INTELLIGENCE 51 || TOWNHOMES ATLANTA MARKET INTELLIGENCE| |1Q19 1Q19| |FMLS FMLSAREA AREA 51 TOWNHOMES

FMLS AREA 51 TOWNHOMES

SUMMARY OF TOWNHOME MARKET ACTIVITY The number of active townhome listings in FMLS Area 51 increased 52.8% on a year-over-year basis from 89 in March 2018 to 136 in March 2019. The number of new townhome listings in FMLS Area 51 increased 32.7% on a year-over-year basis from 55 in March 2018 to 73 in March 2019. The number of townhome sales in FMLS Area 51 decreased 51.4% on a year-over-year basis from 35 in March 2018 to 17 in March 2019. The months of inventory for townhomes in FMLS Area 51 increased 214.6% on a year-over-year basis from 2.5 months in March 2018 to 8.0 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

- 3.2%

+ 0.4%

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 52.8%

+ 32.7%

- 51.4%

+ 214.6%

ENGEL & VÖLKERS ATLANTA ATLANTA

- 11.1%

RATIO OF SP/OLP

- 75.3%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | TOWNHOMES

79 79

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | TOWNHOMES

SUPPLY DYNAMICS The number of active townhome listings in FMLS Area 51 increased 52.8% on a year-over-year basis from 89 in March 2018 to 136 in March 2019.

The number of new townhome listings in FMLS Area 51 increased 32.7% on a year-over-year basis from 55 in March 2018 to 73 in March 2019.

The number of townhome sales in FMLS Area 51 decreased 51.4% on a year-over-year basis from 35 in March 2018 to 17 in March 2019.

MONTHS OF INVENTORY The months of inventory for townhomes in FMLS Area 51 increased 214.6% on a yearover-year basis from 2.5 months in March 2018 to 8.0 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

80 80

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | TOWNHOMES ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | TOWNHOMES

MEDIAN SALE PRICE

- 3.2%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for townhomes in FMLS Area 51 decreased 5.5% on a year-over-year basis from $475,000 in March 2018 to $448,900 in March 2019.

The median sale price for townhomes in FMLS Area 51 decreased 3.2% on a year-over-year basis from $433,990 in March 2018 to $420,000 in March 2019.

AVERAGE SALE PRICE

- 11.1%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for townhomes in FMLS Area 51 decreased 0.7% on a year-over-year basis from $443,454 in March 2018 to $440,559 in March 2019.

The average sale price for townhomes in FMLS Area 51 decreased 11.1% on a year-overyear basis from $464,186 in March 2018 to $412,588 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | TOWNHOMES

81 81

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | TOWNHOMES MEDIAN CDOM

- 75.3%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for townhomes in FMLS Area 51 decreased 75.3% on a year-over-year basis from 85 days in March 2018 to 21 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

+ 0.4%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for townhomes in FMLS Area 51 increased 0.4% on a yearover-year basis from 97.6% in March 2018 to 98.0% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

ATLANTA MARKET INTELLIGENCE AREA5151| |SFD SFD ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA

82

FMLS AREA 51

SINGLE FAMILY DETACHED (SFD)

SUMMARY OF SFD MARKET ACTIVITY The number of active SFD listings in FMLS Area 51 increased 28.8% on a year-over-year basis from 198 in March 2018 to 255 in March 2019. The number of new SFD listings in FMLS Area 51 increased 1.6% on a year-over-year basis from 124 in March 2018 to 126 in March 2019. The number of SFD sales in FMLS Area 51 decreased 10.1% on a year-overyear basis from 79 in March 2018 to 71 in March 2019. The months of inventory for SFD in FMLS Area 51 increased 43.3% on a year-over-year basis from 2.5 months in March 2018 to 3.6 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 28.8%

+ 1.6%

- 10.1%

+ 43.3%

ENGEL & VÖLKERS ATLANTA ATLANTA

- 12.0%

+ 3.0%

- 0.5%

- 9.1%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | SFD

83 83

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | SFD

SUPPLY DYNAMICS The number of active SFD listings in FMLS Area 51 increased 28.8% on a year-over-year basis from 198 in March 2018 to 255 in March 2019.

The number of new SFD listings in FMLS Area 51 increased 1.6% on a year-over-year basis from 124 in March 2018 to 126 in March 2019.

The number of SFD sales in FMLS Area 51 decreased 10.1% on a year-over-year basis from 79 in March 2018 to 71 in March 2019.

MONTHS OF INVENTORY The months of inventory for SFD in FMLS Area 51 increased 43.3% on a year-over-year basis from 2.5 months in March 2018 to 3.6 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

ATLANTA MARKET INTELLIGENCE 51 | | SFD SFD ATLANTA MARKET INTELLIGENCE | | 1Q19 1Q19 || FMLS FMLS AREA AREA 51

84 84

MEDIAN SALE PRICE

- 12.0%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for SFD in FMLS Area 51 decreased 5% on a year-over-year basis from $649,950 in March 2018 to $617,500 in March 2019.

The median sale price for SFD in FMLS Area 51 decreased 12.0% on a year-over-year basis from $582,000 in March 2018 to $512,000 in March 2019.

AVERAGE SALE PRICE

+ 3.0%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for SFD in FMLS Area 51 increased 0.4% on a year-over-year basis from $673,567 in March 2018 to $676,270 in March 2019.

The average sale price for SFD in FMLS Area 51 increased 3.0% on a year-over-year basis from $604,761 in March 2018 to $622,836 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | SFD

85 85

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 51 | SFD

MEDIAN CDOM

- 9.1%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for SFD in FMLS Area 51 decreased 9.1% on a yearover-year basis from 22 days in March 2018 to 20 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 0.5%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for SFD in FMLS Area 51 decreased 0.5% on a year-over-year basis from 98.8% in March 2018 to 98.3% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

52

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52

88

FMLS AREA 52 132 51 400

71

21

285

85

75 285 85

22

23 24

20

32

31

285

52

20

53

75 85

First Multiple Listing Service (FMLS) Area 52 includes the DeKalb County municipalities of Decatur and Avondale Estates, as well as portions of unincorporated DeKalb County. It includes and numerous other neighborhoods. FMLS Area 52 is bound by I-285 to the east, the City of Atlanta line to the west, I-85 to the north, and I-20 to the south.

ATLANTA

www.evatlanta.com

89 89

ATLANTA MARKET INTELLIGENCE REPORT | 1Q19 | FMLS AREA 52 ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52

FMLS AREA 52

SUMMARY OF MARKET ACTIVITY ATTACHED HOMES The following table shows activity for attached homes (condos and townhomes) in FMLS Area 52 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 29 261 22 28 93% 1

$200K $299K 13 134 11 23 99% 1

$300K $399K 9 114 10 29 97% 1

$400K $499K 21 67 6 90 96% 4

$500K $599K 15 14 1 111 95% 13

$600K $699K 4 8 1 45 99% 6

$700K $799K 2 4 0 38 94% 6

$800K $899K 7 1 0 0 100% 84

$900K $999K 0 7 1 18 100% 0

$1M $2M 0 0 0 0 0% 0

$2M $5M 0 0 0 0 0% 0

AVG/ > $5M 0 0 0 0 0% 0

TOTALS 100 610 51 32 95% 2

SOURCE: FMLS 2019; Area 52, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

DETACHED HOMES The following table shows activity for detached homes (single family) in FMLS Area 52 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 57 420 35 34 94% 2

$200K $299K 140 429 36 50 96% 4

$300K $399K 81 467 39 43 97% 2

$400K $499K 64 346 29 50 97% 2

$500K $599K 55 216 18 53 97% 3

$600K $699K 45 134 11 61 96% 4

$700K $799K 20 84 7 76 96% 3

$800K $899K 16 56 5 49 99% 3

$900K $999K 16 31 3 73 98% 6

$1M $2M 31 53 4 91 96% 7

$2M $5M 8 6 1 19 94% 16

AVG/ > $5M 0 0 0 0 0% 0

TOTALS 533 2242 187 49 96% 3

SOURCE: FMLS 2019; Area 52, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

ENGEL & VÖLKERS ATLANTA

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ATLANTA

ATLANTA MARKET INTELLIGENCE ATLANTA MARKET INTELLIGENCE| 1Q19 | 1Q19| FMLS | FMLSAREA AREA 52 52 || CONDOS CONDOS

90 90

FMLS AREA 52 CONDOMINIUMS

SUMMARY OF CONDOMINIUM MARKET ACTIVITY The number of active condo listings in FMLS Area 52 increased 96.6% on a year-over-year basis from 29 in March 2018 to 57 in March 2019. The number of new condo listings in FMLS Area 52 increased 28.2% on a year-over-year basis from 39 in March 2018 to 50 in March 2019. The number of condo sales in FMLS Area 52 decreased 33.3% on a year-overyear basis from 39 in March 2018 to 26 in March 2019. The months of inventory for condos in FMLS Area 52 increased 194.8% on a year-over-year basis from 0.7 month in March 2018 to 2.2 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 96.6%

+ 28.2%

- 33.3%

+ 194.8%

ATLANTA ENGEL & VÖLKERS ATLANTA

+ 21.0%

+ 16.2%

- 0.3%

+ 50%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | CONDOS

91 91

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | CONDOS

SUPPLY DYNAMICS The number of active condo listings in FMLS Area 52 increased 96.6% on a year-over-year basis from 29 in March 2018 to 57 in March 2019.

The number of new condo listings in FMLS Area 52 increased 28.2% on a year-over-year basis from 39 in March 2018 to 50 in March 2019.

The number of condo sales in FMLS Area 52 decreased 33.3% on a year-over-year basis from 39 in March 2018 to 26 in March 2019.

MONTHS OF INVENTORY The months of inventory for condos in FMLS Area 52 increased 194.8% on a year-overyear basis from 0.7 month in March 2018 to 2.2 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

92 92

ATLANTA MARKET INTELLIGENCE 52 || CONDOS CONDOS ATLANTA MARKET INTELLIGENCE | |1Q19 1Q19 | |FMLS FMLS AREA AREA 52

MEDIAN SALE PRICE

+ 21.0%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for condos in FMLS Area 52 increased 15.7% on a year-over-year basis from $190,000 in March 2018 to $219,850 in March 2019.

The median sale price for condos in FMLS Area 52 increased 21.0% on a year-over-year basis from $171,500 in March 2018 to $207,550 in March 2019.

AVERAGE SALE PRICE

+ 16.2%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for condos in FMLS Area 52 increased 14.5% on a year-over-year basis from $218,354 in March 2018 to $249,961 in March 2019.

The average sale price for condos in FMLS Area 52 increased 16.2% on a year-over-year basis from $194,894 in March 2018 to $226,419 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | CONDOS

93 93

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | CONDOS

MEDIAN CDOM

+ 50.0%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for condos in FMLS Area 52 increased 50% on a year-overyear basis from 4 days in March 2018 to 6 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 0.3%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for condos in FMLS Area 52 decreased 0.3% on a year-overyear basis from 98.5% in March 2018 to 98.2 % in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

94 94

ATLANTA MARKET INTELLIGENCE 52 || TOWNHOMES ATLANTA MARKET INTELLIGENCE| |1Q19 1Q19| |FMLS FMLSAREA AREA 52 TOWNHOMES

FMLS AREA 52 TOWNHOMES

SUMMARY OF TOWNHOME MARKET ACTIVITY The number of active townhome listings in FMLS Area 52 increased 22.5% on a year-over-year basis from 40 in March 2018 to 49 in March 2019. The number of new townhome listings in FMLS Area 52 increased 29.4% on a year-over-year basis from 17 in March 2018 to 22 in March 2019. The number of townhome sales in FMLS Area 52 decreased 9.1% on a year-over-year basis from 22 in March 2018 to 20 in March 2019. The months of inventory for townhomes in FMLS Area 52 increased 34.8% on a year-over-year basis from 1.8 months in March 2018 to 2.5 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 22.5 %

+ 29.4%

- 9.1%

+ 34.8%

ATLANTA ENGEL & VÖLKERS ATLANTA

- 24.5%

- 15.5%

- 0.8%

+ 72.7%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | TOWNHOMES

95 95

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | TOWNHOMES

SUPPLY DYNAMICS The number of active townhome listings in FMLS Area 52 increased 22.5% on a year-over-year basis from 40 in March 2018 to 49 in March 2019.

The number of new townhome listings in FMLS Area 52 increased 29.4% on a year-over-year basis from 17 in March 2018 to 22 in March 2019.

The number of townhome sales in FMLS Area 52 decreased 9.1% on a year-over-year basis from 22 in March 2018 to 20 in March 2019.

MONTHS OF INVENTORY The months of inventory for townhomes in FMLS Area 52 increased 34.8% on a yearover-year basis from 1.8 months in March 2018 to 2.5 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

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96 96

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | TOWNHOMES ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | TOWNHOMES

MEDIAN SALE PRICE

- 24.5%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for townhomes in FMLS Area 52 increased 31.6% on a year-over-year basis from $285,000 in March 2018 to $375,000 in March 2019.

The median sale price for townhomes in FMLS Area 52 decreased 24.5% on a year-overyear basis from $410,000 in March 2018 to $309,750 in March 2019.

AVERAGE SALE PRICE

- 15.5%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for townhomes in FMLS Area 52 increased 39.3% on a year-over-year basis from $291,385 in March 2018 to $406,005 in March 2019.

The average sale price for townhomes in FMLS Area 52 decreased 15.5% on a year-overyear basis from $368,912 in March 2018 to $311,573 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | TOWNHOMES

97 97

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | TOWNHOMES MEDIAN CDOM

+ 72.7%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for townhomes in FMLS Area 52 increased 72.7% on a year-over-year basis from 11 days in March 2018 to 19 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 0.8%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for townhomes in FMLS Area 52 decreased 0.8% on a yearover-year basis from 98.9% in March 2018 to 98.1% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

ATLANTA MARKET INTELLIGENCE AREA5252| |SFD SFD ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA

98

FMLS AREA 52

SINGLE FAMILY DETACHED (SFD)

SUMMARY OF SFD MARKET ACTIVITY The number of active SFD listings in FMLS Area 52 increased 36.6% on a year-over-year basis from 423 in March 2018 to 578 in March 2019. The number of new SFD listings in FMLS Area 52 decreased 0.9% on a year-over-year basis from 344 in March 2018 to 341 in March 2019. The number of SFD sales in FMLS Area 52 decreased 17.3% on a year-overyear basis from 202 in March 2018 to 167 in March 2019. The months of inventory for SFD in FMLS Area 52 increased 65.3% on a year-over-year basis from 2.1 months in March 2018 to 3.5 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 36.6%

- 0.9%

- 17.3%

+ 65.3%

ATLANTA ENGEL & VÖLKERS ATLANTA

- 10.7%

- 3.7%

- 0.3%

+ 92.9%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | SFD

99 99

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | SFD

SUPPLY DYNAMICS The number of active SFD listings in FMLS Area 52 increased 36.6% on a year-over-year basis from 423 in March 2018 to 578 in March 2019.

The number of new SFD listings in FMLS Area 52 decreased 0.9% on a year-over-year basis from 344 in March 2018 to 341 in March 2019.

The number of SFD sales in FMLS Area 52 decreased 17.3% on a year-over-year basis from 202 in March 2018 to 167 in March 2019.

MONTHS OF INVENTORY The months of inventory for SFD in FMLS Area 52 increased 65.3% on a year-over-year basis from 2.1 months in March 2018 to 3.5 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

ATLANTA MARKET INTELLIGENCE 52 | | SFD SFD ATLANTA MARKET INTELLIGENCE | | 1Q19 1Q19 || FMLS FMLS AREA AREA 52

100 100

MEDIAN SALE PRICE

- 10.7%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for SFD in FMLS Area 52 decreased 1.7% on a year-over-year basis from $417,000 in March 2018 to $409,900 in March 2019.

The median sale price for SFD in FMLS Area 52 decreased 10.7% on a year-over-year basis from $375,000 in March 2018 to $335,000 in March 2019.

AVERAGE SALE PRICE

- 3.7%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for SFD in FMLS Area 52 increased 1.1% on a year-over-year basis from $478,018 in March 2018 to $483,434 in March 2019.

The average sale price for SFD in FMLS Area 52 decreased 3.7% on a year-over-year basis from $411,688 in March 2018 to $396,288 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | SFD

101 101

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 52 | SFD

MEDIAN CDOM

+ 92.9%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for SFD in FMLS Area 52 increased 92.9% on a yearover-year basis from 14 days in March 2018 to 27 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 0.3%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for SFD in FMLS Area 52 decreased 0.3% on a year-over-year basis from 98.2% in March 2018 to 97.9% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

71

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71

104

FMLS AREA 71 132 51 400

71

21

285

85

75 285 85

22

23 24

20

32

31

285

52

20

53

75 85

First Multiple Listing Service (FMLS) Area 71 includes the easternmost portion of Cobb County that falls within I-285. It includes Cumberland, Vinings and several other neighborhoods. FMLS Area 71 is bound by I-285 to the west, the Chattahoochee River to the east, north and south.

ATLANTA

www.evatlanta.com

105 105

ATLANTAMARKET MARKET INTELLIGENCE REPORT FMLS AREA ATLANTA INTELLIGENCE | 1Q19| | 1Q19 FMLS| AREA 71 71

FMLS AREA 71

SUMMARY OF MARKET ACTIVITY ATTACHED HOMES The following table shows activity for attached homes (condos and townhomes) in FMLS Area 71 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 5 82 7 34 95% 1

$200K $299K 9 113 9 33 98% 1

$300K $399K 23 98 8 41 99% 3

$400K $499K 11 10 1 62 96% 13

$500K $599K 3 13 1 47 49% 3

$600K $699K 3 5 0 78 91% 7

$700K $799K 1 4 0 81 97% 3

$800K $899K 2 3 0 14 96% 8

$900K $999K 1 7 1 200 97% 2

$1M $2M 6 9 1 103 86% 8

$2M $5M 0 0 0 0 0% 0

AVG/ > $5M 0 0 0 0 0% 0

TOTALS 64 344 29 41 95% 2

SOURCE: FMLS 2019; Area 71, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

DETACHED HOMES The following table shows activity for detached homes (single family) in FMLS Area 71 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 4 77 6 23 95% 1

$200K $299K 16 42 4 43 96% 5

$300K $399K 7 43 4 49 99% 2

$400K $499K 3 21 2 33 97% 2

$500K $599K 4 14 1 34 97% 3

$600K $699K 1 15 1 61 95% 1

$700K $799K 4 10 1 237 91% 5

$800K $899K 6 3 0 52 97% 24

$900K $999K 5 4 0 159 96% 15

$1M $2M 10 17 1 80 96% 7

$2M $5M 5 2 0 221 95% 30

AVG/ > $5M 0 0 0 0 0% 0

TOTALS 65 248 21 51 96% 3

SOURCE: FMLS 2019; Area 71, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

ENGEL & VÖLKERS ATLANTA

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ATLANTA

ATLANTA MARKET INTELLIGENCE 71 || CONDOS CONDOS ATLANTA MARKET INTELLIGENCE | |1Q19 1Q19 | |FMLS FMLS AREA AREA 71

106

FMLS AREA 71 CONDOMINIUMS

SUMMARY OF CONDOMINIUM MARKET ACTIVITY The number of active condo listings in FMLS Area 71 increased 31.6% on a year-over-year basis from 19 in March 2018 to 25 in March 2019. The number of new condo listings in FMLS Area 71 increased 8.7% on a year-over-year basis from 23 in March 2018 to 25 in March 2019. The number of condo sales in FMLS Area 71 decreased 46.7% on a year-overyear basis from 15 in March 2018 to 8 in March 2019. The months of inventory for condos in FMLS Area 71 increased 146.7% on a year-over-year basis from 1.3 months in March 2018 to 3.1 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 31.6%

+ 8.7%

- 46.7%

+ 146.7%

ENGEL & VÖLKERS ATLANTA ATLANTA

+ 10.7%

- 11.1%

- 3.3%

+ 435.7%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | CONDOS

107 107

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | CONDOS

SUPPLY DYNAMICS The number of active condo listings in FMLS Area 71 increased 31.6% on a year-over-year basis from 19 in March 2018 to 25 in March 2019.

The number of new condo listings in FMLS Area 71 increased 8.7% on a year-over-year basis from 23 in March 2018 to 25 in March 2019.

The number of condo sales in FMLS Area 71 decreased 46.7% on a year-over-year basis from 15 in March 2018 to 8 in March 2019.

MONTHS OF INVENTORY The months of inventory for condos in FMLS Area 71 increased 146.7% on a year-overyear basis from 1.3 months in March 2018 to 3.1 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

108 108

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | CONDOS ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | CONDOS

MEDIAN SALE PRICE

+ 10.7%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for condos in FMLS Area 71 decreased 5.2% on a year-over-year basis from $269,000 in March 2018 to $255,000 in March 2019.

The median sale price for condos in FMLS Area 71 increased 10.7% on a year-over-year basis from $225,000 in March 2018 to $249,000 in March 2019.

AVERAGE SALE PRICE

- 11.1%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for condos in FMLS Area 71 decreased 20.7% on a year-over-year basis from $384,687 in March 2018 to $305,076 in March 2019.

The average sale price for condos in FMLS Area 71 decreased 11.1% on a year-over-year basis from $284,553 in March 2018 to $252,909 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | CONDOS

109 109

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | CONDOS

MEDIAN CDOM

+ 435.7%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for condos in FMLS Area 71 increased 435.7% on a yearover-year basis from 14 days in March 2018 to 75 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 3.3%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for condos in FMLS Area 71 decreased 3.3% on a year-overyear basis from 98.2% in March 2018 to 95.0% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

110 110

ATLANTA MARKET INTELLIGENCE 71 || TOWNHOMES ATLANTA MARKET INTELLIGENCE| |1Q19 1Q19| |FMLS FMLSAREA AREA 71 TOWNHOMES

FMLS AREA 71 TOWNHOMES

SUMMARY OF TOWNHOME MARKET ACTIVITY The number of active townhome listings in FMLS Area 71 increased 60.7% on a year-over-year basis from 28 in March 2018 to 45 in March 2019. The number of new townhome listings in FMLS Area 71 decreased 42.4% on a year-over-year basis from 33 in March 2018 to 19 in March 2019. The number of townhome sales in FMLS Area 71 decreased 25.0% on a year-over-year basis from 20 in March 2018 to 15 in March 2019. The months of inventory for townhomes in FMLS Area 71 increased 114.3% on a year-over-year basis from 1.4 months in March 2018 to 3.0 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 60.7%

- 42.4%

- 25.0%

+ 114.3%

ATLANTA ENGEL & VÖLKERS ATLANTA

+ 8.9%

+ 16.1%

- 0.3%

+ 78.6%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | TOWNHOMES

111 111

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | TOWNHOMES

SUPPLY DYNAMICS The number of active townhome listings in FMLS Area 71 increased 60.7% on a year-over-year basis from 28 in March 2018 to 45 in March 2019.

The number of new townhome listings in FMLS Area 71 decreased 42.4% on a year-over-year basis from 33 in March 2018 to 19 in March 2019.

The number of townhome sales in FMLS Area 71 decreased 25.0% on a year-over-year basis from 20 in March 2018 to 15 in March 2019.

MONTHS OF INVENTORY The months of inventory for townhomes in FMLS Area 71 increased 114.3% on a yearover-year basis from 1.4 months in March 2018 to 3.0 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

112 112

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | TOWNHOMES ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | TOWNHOMES

MEDIAN SALE PRICE

+ 8.9%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for townhomes in FMLS Area 71 increased 13.6% on a year-over-year basis from $295,000 in March 2018 to $335,000 in March 2019.

The median sale price for townhomes in FMLS Area 71 increased 8.9% on a year-over-year basis from $314,000 in March 2018 to $342,000 in March 2019.

AVERAGE SALE PRICE

+ 16.1%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for townhomes in FMLS Area 71 increased 4.0% on a year-over-year basis from $347,007 in March 2018 to $403,043 in March 2019.

The average sale price for townhomes in FMLS Area 71 increased 16.1% on a year-over-year basis from $347,007 in March 2018 to $403,043 in March 2019.

ATLANTA ENGEL & VÖLKERS ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | TOWNHOMES

113 113

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | TOWNHOMES MEDIAN CDOM

+ 78.6%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for townhomes in FMLS Area 71 increased 78.6% on a year-over-year basis from 14 days in March 2018 to 25 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 0.3%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for townhomes in FMLS Area 71 decreased 0.3% on a yearover-year basis from 98.1% in March 2018 to 97.8% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

ATLANTA MARKET INTELLIGENCE AREA7171| |SFD SFD ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA

114 114

FMLS AREA 71

SINGLE FAMILY DETACHED (SFD)

SUMMARY OF SFD MARKET ACTIVITY The number of active SFD listings in FMLS Area 71 increased 29.1% on a year-over-year basis from 55 in March 2018 to 71 in March 2019. The number of new SFD listings in FMLS Area 71 decreased 4.9% on a year-over-year basis from 41 in March 2018 to 39 in March 2019. The number of SFD sales in FMLS Area 71 increased 100.0% on a year-over-year basis from 11 in March 2018 to 22 in March 2019. The months of inventory for SFD in FMLS Area 71 decreased 35.5% on a year-over-year basis from 5.0 months in March 2018 to 3.2 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

+ 29.1%

NUMBER OF CLOSINGS

+ 100.0%

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

- 4.9%

- 35.5%

ATLANTA ENGEL & VÖLKERS ATLANTA

- 20.3%

+ 29.3%

- 3.5%

+ 700%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | SFD

115 115

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | SFD

SUPPLY DYNAMICS The number of active SFD listings in FMLS Area 71 increased 29.1% on a year-over-year basis from 55 in March 2018 to 71 in March 2019.

The number of new SFD listings in FMLS Area 71 decreased 4.9% on a year-over-year basis from 41 in March 2018 to 39 in March 2019.

The number of SFD sales in FMLS Area 71 increased 100.0% on a year-over-year basis from 11 in March 2018 to 22 in March 2019.

MONTHS OF INVENTORY The months of inventory for SFD in FMLS Area 71 decreased 35.5% on a year-overyear basis from 5.0 months in March 2018 to 3.2 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

116

ATLANTA MARKET INTELLIGENCE 71 | | SFD SFD ATLANTA MARKET INTELLIGENCE | | 1Q19 1Q19 || FMLS FMLS AREA AREA 71

MEDIAN SALE PRICE

- 20.3%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for SFD in FMLS Area 71 increased 8.8% on a year-over-year basis from $339,000 in March 2018 to $369,900 in March 2019.

The median sale price for SFD in FMLS Area 71 decreased 20.3% on a year-over-year basis from $395,000 in March 2018 to $315,000 in March 2019.

AVERAGE SALE PRICE

+ 29.3%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for SFD in FMLS Area 71 increased 24.9% on a year-over-year basis from $415,459 in March 2018 to $518,711 in March 2019.

The average sale price for SFD in FMLS Area 71 increased 29.3% on a year-over-year basis from $351,118 in March 2018 to $454,150 in March 2019.

ENGEL & VÖLKERS ATLANTA ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | SFD

117 117

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 71 | SFD MEDIAN CDOM

+ 700%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for SFD in FMLS Area 71 increased 700% on a year-overyear basis from 4 days in March 2018 to 32 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 3.5%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for SFD in FMLS Area 71 decreased 3.5% on a year-over-year basis from 100.0% in March 2018 to 96.5% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

132

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132

120

FMLS AREA 132 132 51 400

71

21

285

85

75 285 85

22

23 24

20

32

31

285

52

20

53

75 85

First Multiple Listing Service (FMLS) Area 132 includes the southernmost portion of Sandy Springs. It includes Windsor Heights, Londonberry and several other neighborhoods.

FMLS Area 132 is bound by the Fulton/DeKalb line to the east, and the Chattahoochee River to the west, I-285 to the north and the City of Atlanta line to the south.

ATLANTA

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121 121

ATLANTAMARKET MARKET INTELLIGENCE REPORT FMLS AREA ATLANTA INTELLIGENCE | 1Q19| | 1Q19 FMLS| AREA 132 132

FMLS AREA 132 SUMMARY OF MARKET ACTIVITY ATTACHED HOMES The following table shows activity for attached homes (condos and townhomes) in FMLS Area 132 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 7 56 5 44 98% 2

$200K $299K 2 41 3 36 97% 1

$300K $399K 5 22 2 77 97% 3

$400K $499K 10 39 3 94 98% 3

$500K $599K 11 28 2 54 99% 5

$600K $699K 2 10 1 89 103% 2

$700K $799K 0 0 0 0 0% 0

$800K $899K 0 0 0 0 0% 0

$900K $999K 3 2 0 653 99% 18

$1M $2M 1 2 0 546 96% 6

$2M $5M 0 0 0 0 0% 0

AVG/ > $5M 0 0 0 0 0% 0

TOTALS 41 200 17 67 98% 2

SOURCE: FMLS 2019; Area 132, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

DETACHED HOMES The following table shows activity for detached homes (single family) in FMLS Area 132 from April 1, 2018 to March 31, 2019.

CATEGORY ACTIVE LISTINGS ANNUAL CLOSINGS MONTHLY CLOSINGS AVERAGE CDOM SP/OLP MONTHS OF INVENTORY

$0 $199K 0 0 0 0 0% 0

$200K $299K 0 0 0 0 0% 0

$300K $399K 3 6 1 92 82% 6

$400K $499K 8 24 2 54 91% 4

$500K $599K 9 33 3 64 94% 3

$600K $699K 21 33 3 60 95% 8

$700K $799K 14 21 2 111 96% 8

$800K $899K 20 31 3 100 94% 8

$900K $999K 7 13 1 125 90% 6

$1M $2M 58 69 6 123 92% 10

$2M $5M 34 20 2 123 95% 20

AVG/ > $5M 2 0 0 0 0% 0

TOTALS 176 250 21 95 93% 8

SOURCE: FMLS 2019; Area 132, All attached product closed trailing 12 months (April 1, 2018 – March 31, 2019)

ENGEL & VÖLKERS ATLANTA

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ATLANTA

ATLANTA MARKET INTELLIGENCE 132| | CONDOS CONDOS ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA AREA 132

122

FMLS AREA 132 CONDOMINIUMS

SUMMARY OF CONDOMINIUM MARKET ACTIVITY The number of active condo listings in FMLS Area 132 decreased 25.0% on a year-over-year basis from 16 in March 2018 to 12 in March 2019. The number of new condo listings in FMLS Area 132 decreased 20.0% on a year-over-year basis from 10 in March 2018 to 8 in March 2019. The number of condo sales in FMLS Area 132 decreased 7.7% on a year-over-year basis from 13 in March 2018 to 12 in March 2019. The months of inventory for condos in FMLS Area 132 decreased 18.8% on a year-over-year basis from 1.2 months in March 2018 to 1.0 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

- 25.0%

- 20.0%

- 7.7%

+ 18.8%

ENGEL & VÖLKERS ATLANTA ATLANTA

+ 39.9%

+ 24.9%

- 0.1%

+ 416.7%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | CONDOS

123 123

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | CONDOS

SUPPLY DYNAMICS The number of active condo listings in FMLS Area 132 decreased 25.0% on a year-over-year basis from 16 in March 2018 to 12 in March 2019.

The number of new condo listings in FMLS Area 132 decreased 20.0% on a year-over-year basis from 10 in March 2018 to 8 in March 2019.

The number of condo sales in FMLS Area 132 decreased 7.7% on a year-over-year basis from 13 in March 2018 to 12 in March 2019.

MONTHS OF INVENTORY The months of inventory for condos in FMLS Area 132 decreased 18.8% on a year-overyear basis from 1.2 months in March 2018 to 1.0 months in March 2019.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

124

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | CONDOS ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | CONDOS

MEDIAN SALE PRICE

+ 39.9%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for condos in FMLS Area 132 decreased 10.2% on a year-over-year basis from $222,500 in March 2018 to $199,700 in March 2019.

The median sale price for condos in FMLS Area 132 increased 39.9% on a year-over-year basis from $154,000 in March 2018 to $215,500 in March 2019.

AVERAGE SALE PRICE

+ 24.9%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for condos in FMLS Area 132 decreased 8.1% on a year-over-year basis from $233,130 in March 2018 to $214,263 in March 2019.

The average sale price for condos in FMLS Area 132 increased 24.9% on a year-over-year basis from $196,023 in March 2018 to $244,763 in March 2019.

ENGEL & VÖLKERS ATLANTA ATLANTA

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | CONDOS

125 125

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | CONDOS

MEDIAN CDOM

+ 416.7%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for condos in FMLS Area 132 increased 416.7% on a yearover-year basis from 6 days in March 2018 to 31 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 0.1%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for condos in FMLS Area 132 decreased 0.1% on a year-overyear basis from 98.1% in March 2018 to 98.0% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ENGEL & VÖLKERS ATLANTA

ATLANTA www.evatlanta.com

126 126

ATLANTA MARKET INTELLIGENCE 132 || TOWNHOMES ATLANTA MARKET INTELLIGENCE| |1Q19 1Q19| |FMLS FMLSAREA AREA 132 TOWNHOMES

FMLS AREA 132 TOWNHOMES

SUMMARY OF TOWNHOME MARKET ACTIVITY The number of active townhome listings in FMLS Area 132 decreased 14.7% on a year-over-year basis from 34 in March 2018 to 29 in March 2019. The number of new townhome listings in FMLS Area 132 decreased 64.3% on a year-overyear basis from 14 in March 2018 to 5 in March 2019. The number of townhome sales in FMLS Area 132 decreased 55.6% on a year-over-year basis from 9 in March 2018 to 4 in March 2019. The months of inventory for townhomes in FMLS Area 132 increased 91.9% on a year-over-year basis from 3.8 months in March 2018 to 7.3 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 13.8%

- 9.1%

- 66.7%

+ 241.4%

ATLANTA ENGEL & VÖLKERS ATLANTA

- 4.4%

- 5.8%

- 1.6%

- 17.9%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | TOWNHOMES

127 127

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | TOWNHOMES

SUPPLY DYNAMICS The number of active townhome listings in FMLS Area 132 decreased 14.7% on a year-over-year basis from 34 in March 2018 to 29 in March 2019.

The number of new townhome listings in FMLS Area 132 decreased 64.3% on a year-over-year basis from 14 in March 2018 to 5 in March 2019.

The number of townhome sales in FMLS Area 132 decreased 55.6% on a year-over-year basis from 9 in March 2018 to 4 in March 2019.

MONTHS OF INVENTORY The months of inventory for townhomes in FMLS Area 132 increased 91.9% on a yearover-year basis from 3.8 months in March 2018 to 7.3 months in March 2019.

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128

ATLANTA MARKET INTELLIGENCE ATLANTA MARKET INTELLIGENCE| 1Q19 | 1Q19| FMLS | FMLSAREA AREA 132 132 || TOWNHOMES TOWNHOMES

MEDIAN SALE PRICE

- 4.4%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for townhomes in FMLS Area 132 decreased 7.0% on a year-over-year basis from $469,567 in March 2018 to $436,500 in March 2019.

The median sale price for townhomes in FMLS Area 132 decreased 4.4% on a year-over-year basis from $449,820 in March 2018 to $430,000 in March 2019.

AVERAGE SALE PRICE

- 5.8%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for townhomes in FMLS Area 132 decreased 6.0% on a year-over-year basis from $496,748 in March 2018 to $467,070 in March 2019.

The average sale price for townhomes in FMLS Area 132 decreased 5.8% on a year-over-year basis from $439,029 in March 2018 to $413,375 in March 2019.

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | TOWNHOMES

129 129

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | TOWNHOMES MEDIAN CDOM

- 17.9%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for townhomes in FMLS Area 132 increased 110.5% on a year-over-year basis from 57 days in March 2018 to 120 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 1.6%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for townhomes in FMLS Area 132 increased 10.8% on a year-over-year basis from 92.5% in March 2018 to 102.5% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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ATLANTA MARKET INTELLIGENCE AREA132 132| | SFD SFD ATLANTA MARKET INTELLIGENCE || 1Q19 1Q19 || FMLS FMLS AREA

130 130

FMLS AREA 132 SINGLE FAMILY DETACHED (SFD)

SUMMARY OF SFD MARKET ACTIVITY The number of active SFD listings in FMLS Area 132 increased 8.4% on a year-over-year basis from 167 in March 2018 to 181 in March 2019. The number of new SFD listings in FMLS Area 132 increased 23.4% on a year-over-year basis from 64 in March 2018 to 79 in March 2019. The number of SFD sales in FMLS Area 132 decreased 22.7% on a yearover-year basis from 22 in March 2018 to 17 in March 2019. The months of inventory for SFD in FMLS Area 132 increased 40.3% on a year-over-year basis from 7.6 months in March 2018 to 10.6 months in March 2019.

MARKET ACTIVITY DASHBOARD | YEAR-OVER-YEAR COMPARISON

NUMBER OF ACTIVE LISTINGS

NUMBER OF CLOSINGS

MEDIAN SALE PRICE

RATIO OF SP/OLP

NUMBER OF NEW LISTINGS

MONTHS OF INVENTORY

AVERAGE SALE PRICE

MEDIAN CDOM

+ 8.4%

+ 23.4%

- 22.7%

+ 40.3%

ATLANTA ENGEL & VÖLKERS ATLANTA

+ 32.3%

- 0.7%

- 0.3%

+ 34.0%

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | SFD

131 131

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 121 | SFD

SUPPLY DYNAMICS The number of active SFD listings in FMLS Area 132 increased 8.4% on a year-over-year basis from 167 in March 2018 to 181 in March 2019.

The number of new SFD listings in FMLS Area 132 increased 23.4% on a year-over-year basis from 64 in March 2018 to 79 in March 2019.

The number of SFD sales in FMLS Area 132 decreased 22.7% on a year-over-year basis from 22 in March 2018 to 17 in March 2019.

MONTHS OF INVENTORY The months of inventory for SFD in FMLS Area 132 increased 40.3% on a year-overyear basis from 7.6 months in March 2018 to 10.6 months in March 2019.

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132 132

ATLANTA MARKET INTELLIGENCE 132 || SFD SFD ATLANTA MARKET INTELLIGENCE| |1Q19 1Q19| |FMLS FMLSAREA AREA 132

MEDIAN SALE PRICE

+ 32.3%

MEDIAN LIST PRICE VS MEDIAN SALE PRICE The median list price for SFD in FMLS Area 132 increased 23.1% on a year-over-year basis from $799,950 in March 2018 to $985,000 in March 2019.

The median sale price for SFD in FMLS Area 132 increased 32.3% on a year-over-year basis from $650,000 in March 2018 to $860,000 in March 2019.

AVERAGE SALE PRICE

- 0.7%

AVERAGE LIST PRICE VS AVERAGE SALE PRICE The average list price for SFD in FMLS Area 132 increased 15.9% on a year-over-year basis from $1,061,150 in March 2018 to $1,230,057 in March 2019.

The average sale price for SFD in FMLS Area 132 decreased 0.7% on a year-over-year basis from $910,795 in March 2018 to $904,173 in March 2019.

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ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | SFD

133 133

ATLANTA MARKET INTELLIGENCE | 1Q19 | FMLS AREA 132 | SFD MEDIAN CDOM

+ 34.0%

MEDIAN NUMBER OF CONTINUOUS DAYS ON MARKET The median number of continuous days on market (CDOM) for SFD in FMLS Area 132 increased 34.0% on a yearover-year basis from 47 days in March 2018 to 63 days in March 2019.

Continuous Days on Market (CDOM) indicates how long it takes to sell a property. The clock starts ticking when the property is listed and stops when it goes under contract. Moreover, if a listing is withdrawn or expires and the property is re-listed within a 30-day period, CDOM captures the aggregated listing time of the property to provide an accurate representation of the actual time on market.

RATIO OF SP/OLP

- 0.3%

RATIO OF SALE PRICE TO ORIGINAL LIST PRICE The ratio of SP/OLP for SFD in FMLS Area 132 decreased 0.3% on a year-over-year basis from 95.8% in March 2018 to 95.5% in March 2019.

The ratio of Sale Price (SP) to Original List Price (OLP) represents the percentage difference between the prices at which properties are selling and the prices at which properties were originally listed. It reveals the relative negotiating power that buyers and sellers currently have in the market.

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