The central Indiana housing market – like across much of the nation – is being predictable, and that's a good thing. At the beginning of the year, it was anticipated that the prevailing trends of the past year would continue into and through 2016, and that has largely been the case. The number of homes for sale has generally remained lower compared to a year ago, and prices have been steadily rising in desirable communities where homes show well.

NNew Listings in central Indiana decreased 3.8 percent after rising last month which contributes to tight inventory and a highly competitive market. Pending Sales were up 5.4 percent and the Closed Sales increase was double digits – 12.4 percent more homes sold in April 2016 than in April 2015. Inventory levels fell 10.4 percent to 10,809 units.

PPrices continued to gain traction, albeit at a slower pace than in previous months. The Median Sales Price increased 1.4 percent to $150,000 in April. Average Sales Price rose 1.0 percent year over year. Sellers continue to be in the driver’s seat as inventory stands almost even to last month at 3.9 months.

TThere have been no striking changes to curtail what should be a good run of home sales over the next several months. Mortgage rates have remained low, the unemployment rate has remained at or near 5.0 percent for eight straight months and wages have increased for a great many people.

Market Overview Key market metrics for the current month and year-to-date figures.

Current Prior Year + / – Current Prior Year + / – Current Prior Year + / – Current Prior Year + / –

New Listings Feb 2016 43,022 42,492 + 1.2% 17,069 16,918 + 0.9% 7,673 7,616 + 0.7% 3,146 2,846 + 10.5%

Mar 2016 43,377 42,513 + 2.0% 18,007 17,248 + 4.4% 10,048 9,637 + 4.3% 4,350 3,995 + 8.9%

Apr 2016 43,199 42,794 + 0.9% 19,164 18,659 + 2.7% 12,043 11,566 + 4.1% 4,547 4,725 - 3.8%

Pending Sales Feb 2016 30,982 27,911 + 11.0% 13,740 12,136 + 13.2% 6,425 5,588 + 15.0% 2,445 2,144 + 14.0%

Mar 2016 31,425 28,144 + 11.7% 14,170 12,469 + 13.6% 7,604 6,637 + 14.6% 3,122 2,679 + 16.5%

Apr 2016 31,592 28,508 + 10.8% 14,935 13,211 + 13.0% 8,802 7,891 + 11.5% 3,235 3,068 + 5.4%

Closed Sales Feb 2016 32,495 30,038 + 8.2% 13,984 13,355 + 4.7% 6,368 5,789 + 10.0% 1,984 1,810 + 9.6%

Mar 2016 32,720 30,334 + 7.9% 13,857 13,013 + 6.5% 6,374 5,844 + 9.1% 2,660 2,435 + 9.2%

Apr 2016 33,058 30,644 + 7.9% 14,257 13,043 + 9.3% 7,716 6,979 + 10.6% 3,072 2,734 + 12.4%

Median Sales Price Feb 2016 $148,000 $140,000 + 5.7% $142,000 $136,500 + 4.0% $139,900 $132,000 + 6.0% $135,000 $131,500 + 2.7%

Mar 2016 $148,263 $140,000 + 5.9% $142,500 $136,000 + 4.8% $142,000 $135,000 + 5.2% $148,750 $140,000 + 6.3%

Apr 2016 $148,500 $141,000 + 5.3% $145,000 $138,000 + 5.1% $146,500 $140,500 + 4.3% $150,000 $148,000 + 1.4%

Average Sales Price Feb 2016 $184,076 $176,380 + 4.4% $178,550 $173,004 + 3.2% $176,205 $170,062 + 3.6% $170,125 $166,384 + 2.2%

Mar 2016 $184,508 $177,136 + 4.2% $178,668 $173,710 + 2.9% $175,620 $170,328 + 3.1% $182,023 $175,991 + 3.4%

Apr 2016 $184,659 $178,033 + 3.7% $180,313 $174,931 + 3.1% $180,050 $176,232 + 2.2% $184,732 $182,931 + 1.0%

Feb 2016 93.8% 93.3% + 0.5% 93.2% 92.6% + 0.6% 92.9% 92.1% + 0.9% 92.9% 91.7% + 1.2%

Mar 2016 93.9% 93.3% + 0.6% 93.2% 92.5% + 0.7% 93.3% 92.3% + 1.1% 93.9% 92.9% + 1.1%

Apr 2016 94.0% 93.4% + 0.6% 93.5% 92.7% + 0.9% 94.0% 93.0% + 1.1% 94.8% 94.0% + 0.9%

Feb 2016 10,255 10,914 - 6.0%

Mar 2016 10,490 11,348 - 7.6%

Apr 2016 10,809 12,057 - 10.4%

Feb 2016 3.8 4.4 - 13.1%

Mar 2016 3.8 4.5 - 14.3%

Apr 2016 3.9 4.7 - 16.9%

Percent of Original List Price Received at Sale

Total Active Listings Available at Month End

Months Supplyof Inventory

Data obtained from the Broker Listing Cooperative® (BLC®). Totals rounded to whole number or tenth of a percent; rounding error may occur. Powered by ShowingTime 10K. | 2

Rolling 12 Months MonthlyRolling 6 Months Rolling 3 Months

There are no rolling figures for Total Active Listings Available at Month End or Months Supply of Inventory because these metrics are simply snapshots frozen in time at the end

of each month. It does not add up over a period of months.

New Listings A count of the properties that have been newly listed on the market in a given month, regardless of what status they're currently in.

Data obtained from the Broker Listing Cooperative® (BLC®). Totals rounded to whole number or tenth of a percent; rounding error may occur. Powered by ShowingTime 10K. | 3

40,947 42,794 43,199

2014 2015 2016

12 Month

17,34118,659 19,164

2014 2015 2016

6 Month

1,000

2,000

3,000

4,000

5,000

6,000

7,000

1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016

Historical New Listings

10,92711,566 12,043

2014 2015 2016

3 Month

4,4444,725 4,547

2014 2015 2016

April

One-Year Change:

Two-Year Change:

+ 2.7%

+ 10.5%

One-Year Change:

Two-Year Change:

+ 0.9%

+ 5.5%

One-Year Change:

Two-Year Change:

- 3.8%

+ 2.3%

One-Year Change:

Two-Year Change:

+ 4.1%

+ 10.2%

Pending Sales A count of the properties on which contracts have been accepted in a given month, regardless of whether or not the sale closes.

Data obtained from the Broker Listing Cooperative® (BLC®). Totals rounded to whole number or tenth of a percent; rounding error may occur. Powered by ShowingTime 10K. | 4

26,89228,508

31,592

2014 2015 2016

12 Month

11,715

13,211

14,935

2014 2015 2016

6 Month

1,000

1,500

2,000

2,500

3,000

3,500

1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016

Historical Pending Sales

7,0347,891

8,802

2014 2015 2016

3 Month

2,704

3,0683,235

2014 2015 2016

April

One-Year Change:

Two-Year Change:

+ 13.0%

+ 27.5%

One-Year Change:

Two-Year Change:

+ 10.8%

+ 17.5%

One-Year Change:

Two-Year Change:

+ 5.4%

+ 19.6%

One-Year Change:

Two-Year Change:

+ 11.5%

+ 25.1%

Closed Sales A count of the actual sales that have closed in a given month.

Data obtained from the Broker Listing Cooperative® (BLC®). Totals rounded to whole number or tenth of a percent; rounding error may occur. Powered by ShowingTime 10K. | 5

29,534 30,64433,058

2014 2015 2016

12 Month

11,76713,043

14,257

2014 2015 2016

6 Month

1,000

1,500

2,000

2,500

3,000

3,500

4,000

1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016

Historical Closed Sales

6,1716,979

7,716

2014 2015 2016

3 Month

2,4242,734

3,072

2014 2015 2016

April

One-Year Change:

Two-Year Change:

+ 9.3%

+ 21.2%

One-Year Change:

Two-Year Change:

+ 7.9%

+ 11.9%

One-Year Change:

Two-Year Change:

+ 12.4%

+ 26.7%

One-Year Change:

Two-Year Change:

+ 10.6%

+ 25.0%

Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month.

Data obtained from the Broker Listing Cooperative® (BLC®). Totals rounded to whole number or tenth of a percent; rounding error may occur. Powered by ShowingTime 10K. | 6

$136,000 $141,000$148,500

2014 2015 2016

12 Month

$131,500$138,000

$145,000

2014 2015 2016

6 Month

$90,000

$100,000

$110,000

$120,000

$130,000

$140,000

$150,000

$160,000

$170,000

1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016

Historical Median Sales Price

$132,005$140,500 $146,500

2014 2015 2016

3 Month

$136,000$148,000 $150,000

2014 2015 2016

April

One-Year Change:

Two-Year Change:

+ 5.1%

+ 10.3%

One-Year Change:

Two-Year Change:

+ 5.3%

+ 9.2%

One-Year Change:

Two-Year Change:

+ 1.4%

+ 10.3%

One-Year Change:

Two-Year Change:

+ 4.3%

+ 11.0%

Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month.

Data obtained from the Broker Listing Cooperative® (BLC®). Totals rounded to whole number or tenth of a percent; rounding error may occur. Powered by ShowingTime 10K. | 7

$170,572$178,033 $184,659

2014 2015 2016

12 Month

$167,321$174,931 $180,313

2014 2015 2016

6 Month

$120,000

$130,000

$140,000

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016

Historical Average Sales Price

$164,953$176,232 $180,050

2014 2015 2016

3 Month

$172,324$182,931 $184,732

2014 2015 2016

April

One-Year Change:

Two-Year Change:

+ 3.1%

+ 7.8%

One-Year Change:

Two-Year Change:

+ 3.7%

+ 8.3%

One-Year Change:

Two-Year Change:

+ 1.0%

+ 7.2%

One-Year Change:

Two-Year Change:

+ 2.2%

+ 9.2%

Percent of Original List Price Received

Data obtained from the Broker Listing Cooperative® (BLC®). Totals rounded to whole number or tenth of a percent; rounding error may occur. Powered by ShowingTime 10K. | 8

Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.

92.5% 93.4% 94.0%

2014 2015 2016

12 Month

92.2% 92.7% 93.5%

2014 2015 2016

6 Month

84%

86%

88%

90%

92%

94%

96%

98%

1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016

Historical Percent of Original List Price Received

92.7% 93.0% 94.0%

2014 2015 2016

3 Month

93.7% 94.0% 94.8%

2014 2015 2016

April

One-Year Change:

Two-Year Change:

+ 0.9%

+ 1.4%

One-Year Change:

Two-Year Change:

+ 0.6%

+ 1.6%

One-Year Change:

Two-Year Change:

+ 0.9%

+ 1.2%

One-Year Change:

Two-Year Change:

+ 1.1%

+ 1.4%

Inventory of Homes for Sale

Data obtained from the Broker Listing Cooperative® (BLC®). Totals rounded to whole number or tenth of a percent; rounding error may occur. Powered by ShowingTime 10K. | 9

The number of properties available for sale in active status at the end of a given month. There are no rolling figures for Inventory of Homes for Sale because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

0

10,000

20,000

30,000

40,000

50,000

60,000

1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016

Historical Inventory of Homes Available

15,33512,795 12,378 12,057

10,809

2012 2013 2014 2015 2016

April

- 10.4%One-Year Change:

Two-Year Change:- 12.7%

Months Supply of Inventory

Data obtained from the Broker Listing Cooperative® (BLC®). Totals rounded to whole number or tenth of a percent; rounding error may occur. Powered by ShowingTime 10K. | 10

The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months. There are no rolling figures for Months Supply of Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

3

4

5

6

7

8

9

10

11

12

13

1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016

Historical Months Supply of Homes for Sale

8.0

5.65.0 4.7

3.9

2012 2013 2014 2015 2016

April

- 22.0%

One-Year Change:

Two-Year Change:

- 16.9%

2015 2016 + / – 2015 2016 + / –

New Listings 372 465 + 25.0% 144 177 + 22.9%

Closed Sales 225 250 + 11.1% 85 108 + 27.1%

Median Sales Price* $197,250 $245,000 + 24.2% $225,500 $270,000 + 19.7%

Average Sales Price* $252,225 $285,429 + 13.2% $260,578 $305,606 + 17.3%

Percent of Original List Price Received at Sale* 93.3% 95.4% + 2.2% 93.4% 96.4% + 3.3%

Absorption Rate 4.7 4.5 - 3.4%

Single-Family Detached Inventory 411 413 + 0.5%

Townhouse-Condo Inventory 13 20 + 53.8%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Boone County

+ 22.9% + 27.1% + 19.7%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Boone County

Indianapolis Metro Area

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

144

85

177

108

New Listings Closed Sales

April 2015 2016

372

225

465

250

New Listings Closed Sales

Feb through Apr 2015 2016

+ 27.1%+ 22.9%+ 11.1%+ 25.0%

2015 2016 + / – 2015 2016 + / –

New Listings 83 129 + 55.4% 49 47 - 4.1%

Closed Sales 30 50 + 66.7% 13 16 + 23.1%

Median Sales Price* $131,500 $205,000 + 55.9% $142,250 $233,750 + 64.3%

Average Sales Price* $154,637 $227,192 + 46.9% $164,071 $234,825 + 43.1%

Percent of Original List Price Received at Sale* 89.5% 92.2% + 3.1% 91.6% 91.1% - 0.6%

Absorption Rate 18.5 14.6 - 21.2%

Single-Family Detached Inventory 271 286 + 5.5%

Townhouse-Condo Inventory 5 7 + 40.0%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Brown County

- 4.1% + 23.1% + 64.3%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Brown County

Indianapolis Metro Area

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

+ 60%

+ 70%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

49

13

47

16

New Listings Closed Sales

April 2015 2016

83

30

129

50

New Listings Closed Sales

Feb through Apr 2015 2016

+ 23.1%- 4.1%+ 66.7%+ 55.4%

2015 2016 + / – 2015 2016 + / –

New Listings 103 88 - 14.6% 49 33 - 32.7%

Closed Sales 60 63 + 5.0% 17 19 + 11.8%

Median Sales Price* $109,000 $102,000 - 6.4% $115,000 $130,000 + 13.0%

Average Sales Price* $127,340 $120,423 - 5.4% $146,194 $153,616 + 5.1%

Percent of Original List Price Received at Sale* 88.7% 90.3% + 1.7% 90.5% 91.2% + 0.7%

Absorption Rate 7.2 5.6 - 23.2%

Single-Family Detached Inventory 151 126 - 16.6%

Townhouse-Condo Inventory 1 0 - 100.0%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Decatur County

- 32.7% + 11.8% + 13.0%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Decatur County

Indianapolis Metro Area

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

49

17

33

19

New Listings Closed Sales

April 2015 2016

103

60

88

63

New Listings Closed Sales

Feb through Apr 2015 2016

+ 11.8%- 32.7%+ 5.0%- 14.6%

2015 2016 + / – 2015 2016 + / –

New Listings 2,404 2,387 - 0.7% 998 868 - 13.0%

Closed Sales 1,444 1,477 + 2.3% 588 575 - 2.2%

Median Sales Price* $218,000 $225,000 + 3.2% $216,450 $226,500 + 4.6%

Average Sales Price* $272,734 $274,005 + 0.5% $277,173 $277,203 + 0.0%

Percent of Original List Price Received at Sale* 95.3% 96.2% + 0.9% 96.0% 96.5% + 0.5%

Absorption Rate 3.6 3.2 - 10.4%

Single-Family Detached Inventory 1,801 1,630 - 9.5%

Townhouse-Condo Inventory 170 172 + 1.2%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Hamilton County

- 13.0% - 2.2% + 4.6%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Hamilton County

Indianapolis Metro Area

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

998

588

868

575

New Listings Closed Sales

April 2015 2016

2,404

1,444

2,387

1,477

New Listings Closed Sales

Feb through Apr 2015 2016

- 2.2%- 13.0%+ 2.3%- 0.7%

2015 2016 + / – 2015 2016 + / –

New Listings 424 393 - 7.3% 167 143 - 14.4%

Closed Sales 260 281 + 8.1% 110 108 - 1.8%

Median Sales Price* $140,000 $146,000 + 4.3% $149,450 $151,000 + 1.0%

Average Sales Price* $155,255 $167,384 + 7.8% $154,855 $169,638 + 9.5%

Percent of Original List Price Received at Sale* 94.1% 94.6% + 0.6% 95.4% 95.4% - 0.0%

Absorption Rate 4.4 3.2 - 26.5%

Single-Family Detached Inventory 427 332 - 22.2%

Townhouse-Condo Inventory 5 6 + 20.0%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Hancock County

- 14.4% - 1.8% + 1.0%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Hancock County

Indianapolis Metro Area

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

167

110

143

108

New Listings Closed Sales

April 2015 2016

424

260

393

281

New Listings Closed Sales

Feb through Apr 2015 2016

- 1.8%- 14.4%+ 8.1%- 7.3%

2015 2016 + / – 2015 2016 + / –

New Listings 926 981 + 5.9% 371 406 + 9.4%

Closed Sales 579 622 + 7.4% 230 244 + 6.1%

Median Sales Price* $165,000 $162,450 - 1.5% $169,000 $164,475 - 2.7%

Average Sales Price* $187,963 $182,745 - 2.8% $192,595 $182,122 - 5.4%

Percent of Original List Price Received at Sale* 94.7% 95.5% + 0.9% 95.6% 96.3% + 0.8%

Absorption Rate 3.9 3.2 - 17.2%

Single-Family Detached Inventory 793 734 - 7.4%

Townhouse-Condo Inventory 64 38 - 40.6%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Hendricks County

+ 9.4% + 6.1% - 2.7%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Hendricks County

Indianapolis Metro Area

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

371

230

406

244

New Listings Closed Sales

April 2015 2016

926

579

981

622

New Listings Closed Sales

Feb through Apr 2015 2016

+ 6.1%+ 9.4%+ 7.4%+ 5.9%

2015 2016 + / – 2015 2016 + / –

New Listings 939 909 - 3.2% 362 349 - 3.6%

Closed Sales 576 636 + 10.4% 208 273 + 31.3%

Median Sales Price* $142,500 $155,000 + 8.8% $142,750 $163,000 + 14.2%

Average Sales Price* $167,821 $186,605 + 11.2% $166,094 $189,403 + 14.0%

Percent of Original List Price Received at Sale* 94.3% 95.1% + 0.8% 95.4% 96.2% + 0.8%

Absorption Rate 4.3 3.1 - 28.2%

Single-Family Detached Inventory 881 685 - 22.2%

Townhouse-Condo Inventory 38 34 - 10.5%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Johnson County

- 3.6% + 31.3% + 14.2%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Johnson County

Indianapolis Metro Area

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

362

208

349

273

New Listings Closed Sales

April 2015 2016

939

576

909

636

New Listings Closed Sales

Feb through Apr 2015 2016

+ 31.3%- 3.6%+ 10.4%- 3.2%

2015 2016 + / – 2015 2016 + / –

New Listings 527 545 + 3.4% 222 190 - 14.4%

Closed Sales 332 363 + 9.3% 140 119 - 15.0%

Median Sales Price* $72,500 $85,000 + 17.2% $80,000 $89,550 + 11.9%

Average Sales Price* $85,428 $96,947 + 13.5% $93,158 $101,450 + 8.9%

Percent of Original List Price Received at Sale* 88.3% 89.2% + 1.1% 89.1% 90.2% + 1.2%

Absorption Rate 5.4 4.8 - 12.5%

Single-Family Detached Inventory 622 568 - 8.7%

Townhouse-Condo Inventory 29 30 + 3.4%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Madison County

- 14.4% - 15.0% + 11.9%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Madison County

Indianapolis Metro Area

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

222

140

190

119

New Listings Closed Sales

April 2015 2016

527

332

545

363

New Listings Closed Sales

Feb through Apr 2015 2016

- 15.0%- 14.4%+ 9.3%+ 3.4%

2015 2016 + / – 2015 2016 + / –

New Listings 4,896 4,883 - 0.3% 1,975 1,871 - 5.3%

Closed Sales 2,932 3,197 + 9.0% 1,150 1,281 + 11.4%

Median Sales Price* $118,000 $123,000 + 4.2% $123,000 $126,000 + 2.4%

Average Sales Price* $142,202 $144,186 + 1.4% $151,272 $146,616 - 3.1%

Percent of Original List Price Received at Sale* 92.2% 93.3% + 1.2% 93.4% 94.1% + 0.8%

Absorption Rate 5.0 4.0 - 20.8%

Single-Family Detached Inventory 4,507 3,854 - 14.5%

Townhouse-Condo Inventory 638 532 - 16.6%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Marion County

- 5.3% + 11.4% + 2.4%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Marion County

Indianapolis Metro Area

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,975

1,150

1,871

1,281

New Listings Closed Sales

April 2015 2016

4,896

2,932

4,883

3,197

New Listings Closed Sales

Feb through Apr 2015 2016

+ 11.4%- 5.3%+ 9.0%- 0.3%

2015 2016 + / – 2015 2016 + / –

New Listings 156 168 + 7.7% 65 57 - 12.3%

Closed Sales 94 91 - 3.2% 36 31 - 13.9%

Median Sales Price* $90,750 $84,000 - 7.4% $108,250 $113,000 + 4.4%

Average Sales Price* $99,807 $95,006 - 4.8% $109,763 $113,147 + 3.1%

Percent of Original List Price Received at Sale* 88.2% 91.2% + 3.4% 89.4% 91.2% + 2.0%

Absorption Rate 6.1 4.9 - 19.6%

Single-Family Detached Inventory 221 188 - 14.9%

Townhouse-Condo Inventory 6 1 - 83.3%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Montgomery County

- 12.3% - 13.9% + 4.4%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Montgomery County

Indianapolis Metro Area

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

65

36

57

31

New Listings Closed Sales

April 2015 2016

156

94

168

91

New Listings Closed Sales

Feb through Apr 2015 2016

- 13.9%- 12.3%- 3.2%+ 7.7%

2015 2016 + / – 2015 2016 + / –

New Listings 331 351 + 6.0% 154 148 - 3.9%

Closed Sales 190 213 + 12.1% 69 88 + 27.5%

Median Sales Price* $133,125 $135,000 + 1.4% $132,500 $150,007 + 13.2%

Average Sales Price* $146,557 $159,457 + 8.8% $149,291 $170,674 + 14.3%

Percent of Original List Price Received at Sale* 91.3% 91.5% + 0.2% 91.6% 93.2% + 1.8%

Absorption Rate 5.8 4.7 - 19.5%

Single-Family Detached Inventory 441 378 - 14.3%

Townhouse-Condo Inventory 14 10 - 28.6%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Morgan County

- 3.9% + 27.5% + 13.2%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Morgan County

Indianapolis Metro Area

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

154

69

148

88

New Listings Closed Sales

April 2015 2016

331

190

351

213

New Listings Closed Sales

Feb through Apr 2015 2016

+ 27.5%- 3.9%+ 12.1%+ 6.0%

2015 2016 + / – 2015 2016 + / –

New Listings 177 186 + 5.1% 82 63 - 23.2%

Closed Sales 100 102 + 2.0% 46 45 - 2.2%

Median Sales Price* $115,000 $102,500 - 10.9% $130,000 $105,900 - 18.5%

Average Sales Price* $140,293 $120,136 - 14.4% $149,373 $123,530 - 17.3%

Percent of Original List Price Received at Sale* 90.6% 92.9% + 2.6% 91.5% 94.9% + 3.7%

Absorption Rate 7.6 6.0 - 21.2%

Single-Family Detached Inventory 252 220 - 12.7%

Townhouse-Condo Inventory 10 10 0.0%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Putnam County

- 23.2% - 2.2% - 18.5%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Putnam County

Indianapolis Metro Area

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

82

46

63

45

New Listings Closed Sales

April 2015 2016

177

100

186

102

New Listings Closed Sales

Feb through Apr 2015 2016

- 2.2%- 23.2%+ 2.0%+ 5.1%

2015 2016 + / – 2015 2016 + / –

New Listings 183 167 - 8.7% 69 57 - 17.4%

Closed Sales 122 117 - 4.1% 38 47 + 23.7%

Median Sales Price* $94,500 $108,000 + 14.3% $91,000 $111,250 + 22.3%

Average Sales Price* $107,072 $125,614 + 17.3% $105,532 $118,361 + 12.2%

Percent of Original List Price Received at Sale* 90.4% 89.3% - 1.2% 87.8% 91.5% + 4.3%

Absorption Rate 5.9 5.0 - 16.4%

Single-Family Detached Inventory 227 204 - 10.1%

Townhouse-Condo Inventory 11 6 - 45.5%

Change inClosed Sales

Change in Median Sales Price

Local Market Update – April 2016 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION

* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.

AprilFeb through Apr

Shelby County

- 17.4% + 23.7% + 22.3%Change in

New Listings

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).

Provided by the MIBOR REALTOR® Association and Multiple Listing Service. Report © 2016 ShowingTime.

There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo Inventory because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.

Shelby County

Indianapolis Metro Area

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 1-2015 7-2015 1-2016

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

69

38

5747

New Listings Closed Sales

April 2015 2016

183

122

167

117

New Listings Closed Sales

Feb through Apr 2015 2016

+ 23.7%- 17.4%- 4.1%- 8.7%