3^RD QUARTER – AVALON, NJ. – 2011 STATISTICS:

RESIDENTIAL: UNDER CONTRACT COMPARABLE SALES

- JULY 9 5

- AUGUST 7 9

- SEPTEMBER 9 6

(25) (20)

ORIGINAL List Price REDUCED List Price SOLD Price Days on Mkt

JULY $ 891,400. $ 833,400. $ 750,000. 227

AUGUST 1,607,655. 1,407,100. 1,294,055. 230

SEPTEMBER 4,222,483. 3,630,650. 3,245,813. 386

(6,721,538.) (5,871,150.) (5,289,868.) (843)

3^RD QUARTER

AVERAGE $2,240,513. $1,957,050. $1,763,289. 281

- Difference between ORIGINAL List Price and SOLD Price = (21%)

- Difference between ORIGINAL List Price and REDUCED Price = (13%)

3^RD QTR RESIDENTIAL – NEW CONSTRUCTION – UNDER CONTRACT = (3)

3^RD QTR RESIDENTIAL – NEW CONSTRUCTION – COMPARABLE SALES = (2)

LOTS/LAND: UNDER CONTRACT COMPARABLE SALES

- JULY 1 1

- AUGUST 1 1

- SEPTEMBER 0 0

COMMERCIAL UNDER CONTRACT COMPARABLE SALES

- JULY 0 1

- AUGUST 0 0

- SEPTEMBER 1 0

MULTI-FAMILY UNDER CONTRACT COMPARABLE SALES

- JULY 0 0

- AUGUST 0 0

- SEPTEMBER 0 1

CONDO/TOWNHOUSE UNDER CONTRACT COMPARABLE SALES

- JULY 3 6

- AUGUST 3 3

- SEPTEMBER 6 3

(12) (12)

ORIGINAL List Price REDUCED List Price SOLD Price DAYS on Mkt

JULY $ 699,317. $ 699,317. $ 629,167. 142

AUGUST 1,481,333. 1,393,000. 1,278,333. 143

SEPTEMBER 589,000. 555,667. 536,667. 202

3^RD QUARTER

AVERAGE $ 923,217. $ 882,661. $ 814,722. 162

- Difference between ORIGINAL List Price and SOLD Price = (12%)

- Difference between ORIGINAL List Price and REDUCED Price = (4%)

3^RD QTR CONDO/TOWNHOUSE – NEW CONSTRUCTION – UNDER CONTRACT = (3)

3^RD QTR CONDO/TOWNHOUSE – NEW CONSTRUCTION – COMPARABLE SALES = (2)

AVALON COMPARISON – 3^RD QTR: 2009-2010-2011:

3^RD QTR 3^RD QTR 3^RD QTR

RESIDENTIAL: 2009 RESIDENTIAL: 2010 RESIDENTIAL: 2011

UNDER CONTRACT: 28 27 25

COMPARABLE SALES: 28 24 20

AVERAGE List Price: $ 2,233,792. $ 1,921,324. $ 2,240,513.

AVERAGE Sold Price: $ 1,839,846. $ 1,468,593. $ 1,763,289.

DAYS on Market: 328 263 281

3^RD QTR 3^RD QTR 3^RD QTR

Condo/Townhouse Condo/Townhouse Condo/Townhouse

2009 2010 2011

UNDER CONTRACT: 15 19 12

COMPARABLE SALES: 21 13 12

AVERAGE List Price: $ 813,144. $ 648,249. $ 923,217.

AVERAGE SOLD Price: $ 663,860. $ 566,333. $ 814,722.

Days on Market: 321 270 162

TOTAL AVALON 3^RD QTR – 2009 3^RD QTR – 2010 3^RD QTR - 2011

SALE INVENTORY:

(All Classes: Residential, Lots, Commercial, Multi-Family & Condo/Townhouse)

- JULY 425 408 350

- AUGUST 410 408 355

- SEPTEMBER 409 390 341

3^RD QTR AVERAGE…………………..(415) (402) (349)

AVALON COMPARISON – 1^ST QTR – 2^ND QTR – 3^RD QTR – 2011:

1^ST QTR: 2011 2^ND QTR: 2011 3^RD QTR: 2011

RESIDENTIAL RESIDENTIAL RESIDENTIAL

UNDER CONTRACT 26 14 25

COMPARABLE SALES 26 32 20

AVERAGE List Price: $1,905,660. $1,749,544. $2,240,513.

AVERAGE Sold Price: $1,663,916. $1,497,749. $1,763,289.

AVERAGE Days on Mkt: 275 271 281

New Construction Residential:

UNDER CONTRACT 3 1 3

COMPARABLE SALES 2 4 2

1^ST QTR: 2011 2^ND QTR: 2011 3^RD QTR: 2011

CONDO/TOWN CONDO/TOWN CONDO/TOWN

UNDER CONTRACT 18 15 12

COMPARABLE SALES 5 26 12

AVERAGE List Price: $759,400. $865,773. $923,217.

AVERAGE Sold Price: $721,500. $757,297. $814,722.

AVERAGE Days on Mkt: 74 358 162

New Construction Condo/Town:

UNDER CONTRACT 4 4 2

COMPARABLE SALES 1 7 1

TOTAL AVALON

SALE INVENTORY:

(All Classes: Residential, Lots, Commercial, Multi-Family & Condo/Townhouse)

1^ST QTR – 2011 2^ND QTR – 2011 3^RD QTR – 2011 4^TH QTR-2011 .

JAN.-2011 328 - APRIL-2011 360 - JULY-2011 350 - OCT.-2011

FEB.-2011 353 - MAY-2011 362 - AUG.-2011 355 -NOV.-2011

MAR.-2011 362 - JUNE-2011 357 - SEPT.-2011 341 -DEC.-2011

1^ST QTR 2^ND QTR 3^RD QTR 4^TH QTR

Average = (348) Average = (360) Average = (349) Average = ( )

1^ST QTR-2010 2^ND QTR-2010 3^RD QTR-2010 4^TH QTR-2010 .

JAN.-2010 391 - APRIL-2010 428 - JULY-2010 408 - OCT.-2010 383

FEB.-2010 419 - MAY-2010 415 -AUG.-2010 408 - NOV.-2010 312

MAR.-2010 410 - JUNE-2010 405 -SEPT.-2010 390 - DEC.-2010 312

1^ST QTR 2^ND QTR 3^RD QTR 4^TH QTR

Average = (407) Average = (416) Average = (402) Average = (336)

1^ST QTR – 2009 2^ND QTR-2009 3^RD QTR-2009 4^TH QTR-2009 .

JAN.-2009 400 - APRIL-2009 442 - JULY-2009 425 - OCT.-2009 386

FEB.-2009 420 - MAY-2009 436 - AUG.-2009 410 - NOV.-2009 386

MAR.-2009 422 - JUNE-2009 430 - SEPT.-2009 409 - DEC.-2009 358

1^ST QTR 2^ND QTR 3^RD QTR 4^TH QTR

Average = (414) Average = (436) Average = (415) Average = (377)