Annual 2022 Market Report I Turpin Realtors

MARKET REPORT NORTH CENTRAL NEW JERSEY

ANNUAL 2022

ANNUAL MARKET REPORT 2022

About the Data

• This study includes all residential home sales in the towns indicated as reported by Garden State Multiple Service LLC (GSMLS), including condominiums and townhomes. It does not include land sales, commercial sales or rentals.

• Year to Date “Overview” sales data is as reported to GSMLS on 1/9/23

• When considering Supply and Demand, it is generally accepted that a supply of six months represents a balanced market. Below six months tends to be a seller’s market, with prices rising, and above six months generally indicates a buyer’s market with downward pressure on pricing.

• Average Sales per month is calculated on the number of sales for the current year.

• The relatively tiny amount of transaction data in some categories can lead to wild swings that do not necessarily point to a trend in one direction or another.

COMMENTARY

2022 was another banner year for real estate in north central New Jersey. The robust market that developed as a result of the pandemic continued during the first half of 2022, while the second half of the year was marked by a significant moderation in home sales across the board. During the third and fourth quarters, activity appears to have normalized, with transactions occurring at about the same rate they had in the years preceding the pandemic. However, inventory remains remarkably low—in most cases between one-quarter and one-third of pre-pandemic levels.

Demand Remains

While the rapid rise in interest rates during 2022 undoubtedly sidelined many buyers, we continue to observe strong buyer energy across most market segments. This demand reflects renewed interest in our area and has thus far helped to maintain home prices even in a slowing market.

Significant Shortage of Homes for Sale

In contrast to the four to six months supply of homes that represents a balanced market, all but one town in this report had a year-end supply below two months for homes priced under $1 million, and most of those towns had supply of just one month or less. In the popular $1-2 million range, average months supply was 2.3, as compared to almost 9 months supply during the same period in 2019. As spring is traditionally a time when the greatest number of homes come to market, the months ahead will be a harbinger of the year to come.

A Healthier Market Overall

Regardless of how long it takes for inventory levels to return to balance, we believe that our market is healthier than it has been in a long time. The pandemic introduced countless new homeowners to our region and they have brought vitality and appreciation for all that New Jersey offers. These newly minted Garden State residents have undoubtedly shored up the foundation of our real estate market for years to come.

Because trends vary greatly from town to town, and even within the same town, this report contains aggregated county-level data in addition to granular results for 39 municipalities in our region. With that in mind, I invite you to reach out to one of our knowledgeable sales agents who would be pleased to explain exactly what is happening in your neighborhood and arrange for you to receive regular updates via email.

John Turpin, President

CONTENTS

REGIONAL RESULTS | DECEMBER 2022

Aggregated results for all of Hunterdon, Morris and Somerset counties, plus the following towns in Essex and Union counties: Berkeley Heights, Essex Fells, Livingston, Maplewood, Millburn, Montclair, Mountainside, New Providence, Scotch Plains, Summit, South Orange, West Orange and Westfield.

ANNUAL MARKET REPORT 2022

Bedminster Berkeley Heights

Bernards Twp. Bernardsville Boonton Town Boonton Twp. Bridgewater Twp. Califon

Chatham Boro Chatham Twp. Chester Boro Chester Twp. Clinton Town

Clinton Twp. Far Hills Florham Park Harding Twp. Lebanon Boro

Lebanon Twp. Long Hill Twp. Madison Maplewood Mendham Boro Mendham Twp. Millburn Morris Plains

Morris Twp. Morristown Mountain Lakes New Providence Peapack-Gladstone

Randolph Twp. Readington Twp. Summit Tewksbury Twp. Warren Washington Twp. Watchung Westfield

Cover image: 260 Pottersville Road, Chester Township

REGIONAL RESULTS | DECEMBER 2022

ESSEX*, HUNTERDON, MORRIS, SOMERSET & UNION* COUNTIES

Residential Properties - Activity by Price

ALL PRICES

Homes For Sale New Listing Homes Sold

Contracts Pended Days on Market

UNDER $1 MILLION

Homes For Sale New Listing Homes Sold

Contracts Pended Days on Market

Dec. 2022 Dec. 2021

% Change Dec. 2022 Dec. 2021

1301 1142 14% 539 683 -21% 737 1002 -26% 1048 1556 -33% 34 34 0%

$1,000,000 - $1,999,999 MILLION

% Change

940 855 10% 468 609 -23% 657 891 -26% 908 1391 -35% 33 33 0%

Homes For Sale New Listing Homes Sold

Contracts Pended Days on Market

% Change Dec. 2022 Dec. 2021

257 191 35% 58 63 -8% 67 92 -27% 118 139 -15% 38 38 0%

$2,000,000 - $2,999,999 MILLION

% Change Dec. 2022 Dec. 2021

Homes For Sale

New Listing Homes Sold

Contracts Pended Days on Market

56 51 10% 8 9 -11% 11 16 -31% 15 18 -17% 42 79 -47%

Homes For Sale New Listing Homes Sold

Contracts Pended Days on Market

$3 MILLION+

% Change Dec. 2022 Dec. 2021

48 45 7% 5 2 150% 2 3 -33% 7 8 -13% 87 66 32%

This report is inclusive of results from select municipalities in Essex and Union counties as follows: Essex County: Berkeley Heights Twp, Mountainside Boro, New Providence Boro, Scotch Plains Twp Union County: Essex Fells Twp, Livingston Twp, Maplewood Twp, Millburn Twp, Montclair Twp, South Orange Village Twp, Summit City, West Orange, Westfield Twp

TOTAL DOLLAR VOLUME

MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price Supply and Demand (as of December 31, 2022)

YTD 2022 YTD 2021 39 46 -15.2% 177 248 -28.6% $16,930,000 $18,179,700 -6.9% $128,043,908 $115,134,496 11.2% $380,000 $365,000 4.1% $421,000 $386,250 9% $434,102 $395,210 9.8% $723,412 $464,252 55.8% 30 29 3.4% 38 35 7.1% 99.1% 99.9% -0.8% 99.2% 98.9% 0.3%

ç

% CHANGE % CHANGE 66.7%

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 39 43 -9.3% 181 234 -22.6% $27,956,888 $24,618,500 13.6% $134,354,192 $158,519,092 -15.2% $690,000 $550,000 25.5% $701,000 $651,000 7.7% $716,843 $572,523 25.2% $742,288 $677,432 9.6% 28 37 -24.3% 27 32 -15.5% 101.2% 101.7% -0.5% 103.7% 101.7% 1.9%

ç 73.3%

% CHANGE % CHANGE

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 82 125 -34.4% 421 567 -25.7% $56,531,476 $82,613,760 -31.6% $335,212,736 $418,407,564 -19.9% $564,500 $580,000 -2.7% $736,500 $665,000 10.8% $689,408 $660,910 4.3% $796,230 $737,932 7.9% 26 30 -13.3% 25 29 -14.2% 100.3% 101% -0.7% 102.6% 100.6% 1.9%

YTD 2022 YTD 2021 YTD 2022 YTD 2021 75% 17.1% ç ç ç

% CHANGE % CHANGE 7 4 0 1

% CHANGE % CHANGE 100% ç

$766,000 7% $1,152,095 $1,007,466 14.4% $1,084,781 $936,861 15.8% 44 70 -37.1% 43 75 -42.3% 96.4% 96.8% -0.5% 99.6% 98% 1.6%

Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE NC

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 9 18 -50% 66 70 -5.7% $7,167,000 $13,981,305 -48.7% $51,165,580 $51,456,752 -0.6% $765,000 $718,500 6.5% $692,500 $719,750 -3.8% $796,333 $776,739 2.5% $775,236 $735,096 5.5% 32 34 -5.9% 33 50 -33.2% 98.3% 96.9% 1.5% 100.4% 98.8% 1.6%

$0-$999,999 % CHANGE

$1,000,000-$1,999,999 % CHANGE

Overview Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE 83.3% 100% ç ç

$2,000,000-$2,999,999 % CHANGE

$3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY

53 63 11 6 2 1 0 0 4 4.42 0.91 5 0.92 5.45

YTD 2022 YTD 2021 YTD 2022 YTD 2021 YTD 2022 YTD 2021 YTD 2022 YTD 2021 NC 15.9% 1 0.17 6.00 0 0.00 N/A

ç

$0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY

% CHANGE % CHANGE

$530,000 3.8% $616,199 $537,849 14.6% $589,299 $546,572 7.8% 30 32 -6.3% 27 31 -11.5% 101.2% 101% 0.3% 102.9% 101.6% 1.3%

% CHANGE % CHANGE

12.8% $457,500 $404,500 13.1% $418,200 $410,610 1.8% $443,417 $411,567 7.7% 51 45 13.3% 51 28 82.1% 96.5% 100.5% -4% 100.5% 100.5% 0%

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 13 34 -61.8% 107 178 -39.9% $12,088,600 $33,085,000 -63.5% $111,778,623 $186,882,732 -40.2% $860,000 $876,500 -1.9% $900,000 $956,000 -5.9% $929,892 $973,088 -4.4% $1,044,660 $1,049,903 -0.5% 24 32 -25% 30 35 -15.2% 102.6% 101.4% 1.1% 106.1% 100.6% 5.5%

Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE

57.1% ç

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 36 53 -32.1% 187 218 -14.2% $36,476,184 $58,744,500 -37.9% $229,679,496 $249,050,680 -7.8% $760,000 $975,000 -22.1% $1,100,000 $1,080,000 1.9% $1,013,227 $1,108,386 -8.6% $1,228,233 $1,142,434 7.5% 47 38 23.7% 33 32 3.4% 99.1% 99.6% -0.5% 102.6% 100.4% 2.2%

% CHANGE % CHANGE

100% 4.3% ç

$1,583,000 $3,624,000 -56.3% $17,172,000 $13,727,899 25.1% $520,000 $636,500 -18.3% $630,000 $636,000 -0.9% $527,666 $604,000 -12.6% $686,880 $623,995 10.1% 51 20 155% 22 30 -26.7% 102.5% 101.5% 1% 103.1% 92.6% 11.3%

Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE

$730,000 28.4% $850,904 $804,502 5.8% $907,685 $813,188 11.6% 47 36 30.6% 29 51 -42.7% 98.6% 100.2% -1.6% 102.1% 100.2% 1.9%

MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE

YTD 2022 YTD 2021 11 8 37.5% 36 48 -25% $4,579,775 $3,820,500 19.87% $16,068,775 $20,041,500 -19.8% $389,000 $473,750 -17.9% $428,000 $387,500 10.5% $416,343 $477,562 -12.8% $446,355 $417,531 6.9% 26 20 30% 26 25 5% 101.8% 101.5% 0.4% 102.8% 101.2% 1.7%

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 38 48 -20.8% 171 238 -28.2% $18,521,000 $24,965,904 -25.8% $91,923,032 $123,282,536 -25.4% $495,000 $492,450 0.5% $525,000 $492,500 6.6% $487,394 $520,123 -6.3% $537,562 $517,994 3.8% 30 30 0% 28 31 -9% 99.5% 102% -2.5% 102.8% 101.4% 1.4%

% CHANGE % CHANGE ç

ç 1 0.33 3.00

33.3%

TOTAL DOLLAR VOLUME

MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price

YTD 2022 YTD 2021 1 7 -85.7% 11 23 -52.2% $2,850,000 $8,680,000 -67.2% $22,045,000 $27,357,496 -19.4% $2,850,000 $815,000 249.7% $875,000 $755,000 15.9% $2,850,000 $1,240,000 129.8% $2,004,090 $1,189,456 68.5% 85 74 14.9% 78 84 -7% 95.2% 99.5% -4.4% 93.7% 94.8% -1.2% 50% 50% ç ç

Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE

PARK

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 28 32 -12.5% 129 140 -7.9% $26,404,084 $23,423,778 12.7% $117,399,960 $108,387,816 8.3% $822,500 $662,500 24.2% $800,000 $680,000 17.6% $943,003 $731,993 28.8% $910,077 $774,199 17.6% 43 33 30.3% 35 47 -25.2% 98.8% 98.4% 0.4% 101.5% 99% 2.5% ç

50% 3 2

% CHANGE % CHANGE 50%

HOMES SOLD

% CHANGE Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 8 19 -57.9% 59 75 -21.3%

$16,023,000 $31,513,088 -49.2% $105,226,352 $127,298,488 -17.3% $1,902,250 $1,600,000 18.9% $1,475,000 $1,490,000 -1% $2,002,875 $1,658,583 20.8% $1,783,497 $1,697,313 5.1% 76 46 65.2% 78 59 31.7% 95.8% 96.5% -0.7% 95.9% 96.5% -0.6% ç

Sales by Price Supply and Demand (as of December 31, 2022)

200% ç

4 0.75 5.33

TOTAL DOLLAR VOLUME

MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 2 7 -71.4% 42 32 31.3%

$930,000 $1,762,000 -47.2% $13,439,416 $10,046,427 33.8% $465,000 $250,000 86% $288,750 $302,500 -4.5% $465,000 $251,714 84.7% $319,986 $313,951 1.9% 17 27 -37% 19 38 -50% 99.6% 100.7% -1.1% 102.9% 100.2% 2.7%

Supply and Demand (as of December 31, 2022)

HOMES SOLD

% CHANGE Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 19 26 -26.9% 78 96 -18.8% $10,278,400 $14,025,700 -26.7% $39,333,252 $48,039,900 -18.1% $560,000 $460,000 21.7% $502,500 $447,500 12.3% $540,968 $539,450 0.3% $504,272 $500,416 0.8% 42 53 -20.8% 38 45 -15.6% 99.6% 99.6% 0% 101.5% 100.7% 0.8% ç

Sales by Price Supply and Demand (as of December 31, 2022)

100%

$616,000 -0.2% $547,192 $659,482 -17% $652,922 $653,001 0% 48 27 77.8% 31 31 0% 101% 101% 0% 102.9% 101% 1.9%

HOMES SOLD

% CHANGE Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 34 40 -15% 166 198 -16.2% $33,675,248 $30,801,500 9.3% $185,660,412 $188,889,440 -1.7% $819,250 $670,000 22.3% $886,000 $797,000 11.2% $990,448 $770,037 28.6% $1,118,436 $953,987 17.2% 29 29 0% 22 32 -31.3% 101.6% 97.9% 3.7% 103.6% 99.6% 4.1%

Sales by Price Supply and Demand (as of December 31, 2022)

133.3%

TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 59 76 -22.4% 274 381 -28.1% $46,762,100 $53,249,784 -12.2% $238,287,772 $288,890,120 -17.5% $715,000 $651,000 9.8% $825,000 $750,000 10% $792,577 $700,655 13.1% $869,663 $758,242 14.7% 23 24 -4.2% 20 22 -7.2% 106.1% 107.9% -1.6% 112.7% 109.1% 3.3% NC

HOMES SOLD

% CHANGE Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 YTD 2022 YTD 2021

$1,000,000-$1,999,999 % CHANGE

Sales by Price Supply and Demand (as of December 31, 2022)

ç

YTD 2022 YTD 2021 YTD 2022 YTD 2021 NC

$2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY

57 77 18 17 4 4.75 0.84 1 1.50 0.67 Subject to Errors and Omissions

% CHANGE YTD 2022 YTD 2021 14 21 -33.3% 77 97 -20.6% $16,892,000 $19,714,500 -14.3% $68,799,496 $82,013,704 -16.1% $845,000 $842,500 0.3% $780,000 $714,000 9.2% $1,206,571 $938,785 28.5% $893,500 $845,502 5.7% 50 37 35.1% 38 53 -27.7% 97.6% 101.2% -3.6% 99.1% 98.3% 0.8% ç 50%

5.9%

% CHANGE % CHANGE 1 1 1 2

$0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY

HOMES SOLD

% CHANGE Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 15 23 -34.8% 83 146 -43.2% $17,122,500 $25,745,924 -33.5% $98,291,904 $164,373,520 -40.2% $1,265,000 $910,000 39% $1,110,000 $952,550 16.5% $1,141,500 $1,119,388 2% $1,184,240 $1,125,846 5.2% 40 57 -29.8% 34 61 -43.4% 96.8% 94.3% 2.7% 99.9% 97.5% 2.4%

Sales by Price Supply and Demand (as of December 31, 2022)

ç ç ç

$66,548,400 $105,539,880 -36.9% $550,666,512 $597,511,892 -7.8% $1,386,000 $1,250,000 10.9% $1,498,000 $1,350,000 11% $1,478,853 $1,335,947 10.7% $1,683,995 $1,512,688 11.3% 33 32 3.1% 25 32 -21.5% 102.1% 100.6% 1.5% 103.9% 100.6% 3.2% ç 16.3%

Sales by Price Supply and Demand (as of December 31, 2022)

HOMES SOLD

% CHANGE Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 30 29 3.4% 107 104 2.9% $19,690,170 $15,034,000 31% $68,665,072 $55,954,180 22.7% $657,495 $515,000 27.7% $654,640 $540,000 21.2% $656,339 $518,413 26.6% $641,730 $538,021 19.3% 28 24 16.7% 22 26 -17.7% 99.8% 99.5% 0.2% 102.6% 101.5% 1.1%

Sales by Price Supply and Demand (as of December 31, 2022)

HOMES SOLD

% CHANGE Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 71 115 -38.3% 356 422 -15.6% $56,809,400 $78,392,600 -27.5% $279,650,696 $297,106,048 -5.9% $742,000 $625,500 18.6% $735,000 $650,000 13.1% $800,132 $681,674 17.4% $785,536 $704,043 11.6% 29 29 0% 26 30 -15.2% 100.1% 101.8% -1.7% 103.9% 101.2% 2.6% 50% ç

ç 0 0.17 0.00

1 2 ç

-2.1% $525,000 $501,500 4.7% $544,324 $661,362 -17.7% $598,736 $577,913 3.6% 33 39 -15.4% 31 38 -17.4% 99% 100% -1% 100.8% 100.8% 0% 100% ç

HOMES SOLD

TOTAL DOLLAR VOLUME

MEDIAN SALE PRICE

AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price

LAKES

% CHANGE Q4 2022 Q4 2021

$0-$999,999 % CHANGE 39.2%

$1,000,000-$1,999,999 % CHANGE

ç

Supply and Demand (as of December 31, 2022)

% CHANGE YTD 2022 YTD 2021 14 19 -26.3% 76 103 -26.2% $13,591,000 $16,796,074 -19.1% $78,942,024 $99,491,216 -20.7% $950,500 $816,000 16.5% $900,000 $850,000 5.9% $970,785 $884,003 9.8% $1,038,711 $965,934 7.5% 30 38 -21.1% 28 39 -28.5% 99% 102.9% -3.8% 101% 99.6% 1.4% ç ç NC

$2,000,000-$2,999,999 % CHANGE

$3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY

45 74 28 28 2 1 1 0 2 3.75 0.53 4 2.33 1.71

100%

$0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY

YTD 2022 YTD 2021 YTD 2022 YTD 2021 YTD 2022 YTD 2021 YTD 2022 YTD 2021 0 0.17 0.00 1 0.08 12.00

TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE YTD 2022 YTD 2021 29 46 -37% 169 203 -16.7% $21,577,252 $33,140,900 -34.9% $142,276,672 $147,443,112 -3.5% $665,000 $690,500 -3.7% $799,000 $700,000 14.1% $744,043 $720,454 3.3% $841,874 $726,321 15.9% 38 31 22.6% 23 25 -8.1% 101.7% 102.2% -0.5% 106.1% 102.3% 3.7% ç

HOMES SOLD

% CHANGE Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 4 9 -55.6% 29 48 -39.6% $3,314,000 $9,598,150 -65.5% $28,618,160 $47,166,776 -39.3% $807,500 $762,150 6% $875,000 $727,500 20.3% $828,500 $1,066,461 -22.3% $986,833 $982,641 0.4% 57 64 -10.9% 29 53 -45.6% 100.1% 98.8% 1.3% 96.9% 96.7% 0.2%

Sales by Price Supply and Demand (as of December 31, 2022)

1 0.67 1.50

ç 0 0.08 0.00

ç

100%

$600,000 12.5% $666,781 $583,594 14.3% $690,861 $618,705 11.7% 31 33 -6.1% 26 32 -18.4% 100.9% 101% -0.1% 104.4% 101.6% 2.7%

HOMES SOLD

% CHANGE Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 53 69 -23.2% 236 289 -18.3% $30,187,430 $38,761,426 -22.1% $140,396,712 $155,933,174 -10% $560,000 $541,500 3.4% $599,500 $520,000 15.3% $569,574 $561,760 1.4% $594,901 $539,561 10.3% 35 41 -14.6% 31 40 -23% 100.4% 100.2% 0.2% 103% 101.4% 1.5% 100% ç

ç

200%

HOMES SOLD

% CHANGE Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 59 81 -27.2% 307 405 -24.2% $69,703,888 $100,769,352 -30.8% $419,243,288 $498,958,120 -16% $906,500 $999,000 -9.3% $1,205,000 $1,050,000 14.8% $1,181,421 $1,244,066 -5% $1,365,614 $1,231,995 10.8% 35 41 -14.6% 23 34 -32.8% 101.7% 99.9% 1.9% 105.4% 100.7% 4.7%

Sales by Price Supply and Demand (as of December 31, 2022)

1 4.00 0.25

ç 6.7%

-0.5% $809,950 $750,000 8% $916,178 $740,079 23.8% $966,743 $833,139 16% 86 39 120.5% 63 62 2.9% 98.2% 99.2% -1% 99.6% 98.5% 1.1% ç ç

Sales by Price Supply and Demand (as of December 31, 2022)

HOMES SOLD

% CHANGE Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 58 53 9.4% 227 256 -11.3% $58,944,376 $49,412,156 19.3% $233,698,855 $234,389,532 -0.3% $984,500 $810,000 21.5% $955,000 $840,000 13.7% $1,016,282 $932,304 9% $1,029,510 $915,584 12.4% 49 55 -10.9% 43 46 -5.6% 97.8% 99.9% -2.1% 99.4% 99.4% 0% ç

Sales by Price Supply and Demand (as of December 31, 2022)

NC 4 0.75 5.33

80%

TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

% CHANGE YTD 2022 YTD 2021 25 30 -16.7% 104 111 -6.3% $21,769,500 $25,788,312 -15.6% $95,349,556 $97,181,744 -1.9% $875,000 $762,500 14.8% $875,000 $775,000 12.9% $870,780 $859,610 1.3% $916,823 $875,511 4.7% 50 37 35.1% 50 48 4.3% 97% 98.8% -1.8% 100.6% 98% 2.6%

Sales by Price Supply and Demand (as of December 31, 2022)

TOTAL DOLLAR VOLUME

MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE YTD 2022 YTD 2021 89 103 -13.6% 379 512 -26% $92,828,832 $94,461,632 -1.7% $399,227,124 $493,396,320 -19.1% $955,000 $830,000 15.1% $945,000 $879,500 7.4% $1,043,020 $917,103 13.7% $1,053,369 $963,665 9.3% 23 33 -30.3% 25 32 -20% 102.1% 99.7% 2.5% 104.2% 100.7% 3.4% ç 0 0.08 0.00