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Prepared exclusively for use by

Beverly-Hanks & Associates

Quarterly Market Report

1st QUARTERJanuary–March, 2010

What a difference a year makes! This time last year we had just finished one of the toughest quarters our industry had faced

in nearly a decade. While the closing numbers on the attached page indicate an increase in closed sales of 5.8%, it is the written business (pending sales) that is creating significant enthusiasm for many in our industry. While statistics are not accurately available through the North Carolina Mountains Multiple Listing Service in regards to pending sales, I am happy to share that Beverly-Hank written business is up 33.1% in written units and 19.5% in written volume over the first quarter of 2009. My expectation is that other brokers in the region are experiencing improved sales as well. Written business is obviously the leading indicator for future closed sales so expect that closing numbers in the coming months will show significant increases over prior year. While our market has been on an upward swing since last July, significant questions have yet to be answered. What will happen when the federal tax incentives for homebuyers expire at the end of April? Most all predict rising interest rates in the months ahead, what impact will that have upon housing? Will we in fact see an increased supply of distressed and bank owned properties as many are forecasting? My personal belief is that the answer to these questions will largely be determined by the overall trajectory of the economy and at present it is headed in a positive direction. If the economy continues to improve, and unemployment numbers along with it, we will continue to see improving consumer confidence. Consumer confidence may be one of the most important factors to the real estate industry at present. People simply are reluctant to invest in big ticket items when they are uncertain about the future.The fact is we should see improved real estate statistics for our region in the coming months. I believe the percentage of sales generated from tax incentives has been less in our area than in many parts of the country leading me to believe that the prospects are very good for continued positive momentum in the Western North Carolina real estate sector. The spring and summer months will be very important in determining the course of this recovery. Inventory levels remain at high levels but are declining in some price points and neighborhoods and interest rates remain at very low levels from a historical standpoint. For sellers, pricing remains a critical component in the ability to consummate a sale. For buyers willing to do their homework, there may never have been a better time to buy. In either case, the advice of a seasoned real estate professional is a key component to successfully navigating the real estate waters of 2010. The expert Broker Associates at Beverly-Hanks and Associates stand ready to assist you and would consider a privilege to do so.

Warm Regards

W. Neal Hanks, Jr.

Your source for the most up-to-date real estate information

A personal message from Owner & President

Neal Hanks, Jr.

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Average Home Selling Price

Number of Homes Sold

NOTE: Information as reported by the North Carolina Mountains Multiple Listing Service. The North Carolina Mountains Multiple Listing Service does not guarantee or is in any way responsible for its accuracy. Data maintained by the Multiple Listing Service may not reflect all real estate activity in the market. These figures are based upon actual closed transactions as reported through the above mentioned service.

* These totals and averages include all sales reported through the North Carolina Mountains Multiple Listing Service.

COUNTY 2010 2009 % change

Buncombe 448 414 +8.2%Haywood 92 93 –1.1%

Henderson 182 174 +4.6%Madison 15 16 –6.2%

Polk 17 20 –15.0%Rutherford 33 36 –8.3%

Transylvania 48 36 +33.3%

*TOTAL 835 789 +5.8%

COUNTY 2010 2009 % change

Buncombe $248,584 $281,765 –11.8%Haywood $200,307 $205,854 –2.7%

Henderson $218,154 $213,595 +2.1%Madison $194,633 $176,431 +10.3%

Polk $201,598 $139,965 +44.0%Rutherford $215,045 $165,526 +29.9%

Transylvania $257,278 $262,684 –2.1%

*AVERAGE $233,881 $245,685 –4.9%

2010

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YTDUnitsSold

YTDMonthly Average

Units Sold

4/2/2010Active Units

AbsorptionRate**

PRICE RANGE JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

$0–$74,999 21 15 37 73 24.3 85 7.6$75,000–$149,999 65 66 101 232 77.3 1,238 16$150,000–$199,999 54 50 82 186 62 1,353 21.8$200,000–$249,999 21 44 58 123 41 1,177 28.7$250,000–$299,999 24 21 38 83 27.7 1,039 37.5$300,000–$349,999 17 9 20 46 15.3 609 39.8$350,000–$399,999 12 9 12 33 11 600 54.5$400,000–$449,999 11 5 10 26 8.7 323 37.1$450,000–$499,999 8 3 3 14 4.7 351 74.7$500,000–$549,999 6 3 5 14 4.7 177 37.7$550,000–$599,999 4 2 1 7 2.3 225 97.8$600,000–$699,000 5 1 2 8 2.7 239 88.5$700,000–$799,000 1 2 2 5 1.7 153 90$800,000–$899,999 1 1 0 2 0.7 126 180$900,000–$999,999 1 2 1 4 1.3 118 90.8$1 Million–$1.9 Million 4 2 6 12 4 362 90.5$2 Million–$2.9 Million 0 1 0 1 0.3 61 203.3$3 Million–$4.9 Million 0 0 0 0 0 24 unknown$5 Million Plus 0 0 0 0 0 7 unknownTOTALS 255 236 378 869 289.7 8,367 28.9

Western North Carolina Region

YTDUnitsSold

YTDMonthly Average

Units Sold


AbsorptionRate**


$0–$74,999 6 7 13 26 8.7 42 4.8$75,000–$149,999 24 28 53 105 35 467 13.3$150,000–$199,999 32 24 52 108 36 520 14.4$200,000–$249,999 12 23 31 66 22 461 20.9$250,000–$299,999 11 11 21 43 14.3 348 24.3$300,000–$349,999 5 3 10 18 6 216 36$350,000–$399,999 8 4 7 19 6.3 233 37$400,000–$449,999 6 3 6 15 5 152 30.4$450,000–$499,999 4 2 3 9 3 127 42.3$500,000–$549,999 5 2 2 9 3 78 26$550,000–$599,999 4 0 1 5 1.7 69 40.6$600,000–$699,000 1 1 1 3 1 84 84$700,000–$799,000 1 1 2 4 1.3 64 49.2$800,000–$899,999 0 1 0 1 0.3 48 160$900,000–$999,999 0 1 0 1 0.3 60 200$1 Million–$1.9 Million 3 1 3 7 2.3 182 79.1$2 Million–$2.9 Million 0 1 0 1 0.3 21 70$3 Million–$4.9 Million 0 0 0 0 0 9 unknown$5 Million Plus 0 0 0 0 0 1 unknownTOTALS 122 113 205 440 146.7 3,182 21.7

Buncombe County


** Absorption Rate: The “projected” months it will take to absorb all of the listings in a particular price range.

Housing Supply vs. DemandQuarterly Market Report

2010

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YTDUnitsSold

YTDMonthly Average

Units Sold


AbsorptionRate**


$0–$74,999 3 2 6 11 3.7 32 8.6$75,000–$149,999 16 14 24 54 18 259 14.4$150,000–$199,999 14 8 15 37 12.3 295 24$200,000–$249,999 8 8 15 31 10.3 288 28$250,000–$299,999 3 4 9 16 5.3 213 40.2$300,000–$349,999 5 2 4 11 3.7 137 37$350,000–$399,999 2 5 0 7 2.3 114 49.6$400,000–$449,999 1 1 1 3 1 49 49$450,000–$499,999 4 0 0 4 1.3 59 45.4$500,000–$549,999 1 0 3 4 1.3 33 25.4$550,000–$599,999 0 0 0 0 0 45 unknown$600,000–$699,000 1 0 0 1 3 44 146$700,000–$799,000 0 0 0 0 0 23 146.7$800,000–$899,999 0 0 0 0 0 22 unknown$900,000–$999,999 1 0 0 1 3 4 13.3$1 Million–$1.9 Million 0 0 2 2 0.7 33 47.4$2 Million–$2.9 Million 0 0 0 0 0 7 unknown$3 Million–$4.9 Million 0 0 0 0 0 3 unknown$5 Million Plus 0 0 0 0 0 1 unknownTOTALS 59 44 79 182 60.7 1,661 27.4

Henderson County

YTDUnitsSold

YTDMonthly Average

Units Sold


AbsorptionRate**


$0–$74,999 1 4 3 8 2.7 36 13.3$75,000–$149,999 6 11 15 32 10.7 202 18.9$150,000–$199,999 4 8 5 17 5.7 185 32.5$200,000–$249,999 0 3 8 11 3.7 136 36.8$250,000–$299,999 5 2 3 10 3.3 180 54.5$300,000–$349,999 3 1 2 6 2 83 41.5$350,000–$399,999 2 1 0 3 1 89 89$400,000–$449,999 1 0 1 2 0.7 34 48.6$450,000–$499,999 0 0 0 0 0 48 unknown$500,000–$549,999 0 0 0 0 0 19 unknown$550,000–$599,999 0 0 0 0 0 21 unknown$600,000–$699,000 1 0 1 2 0.7 25 35.7$700,000–$799,000 0 0 0 0 0 12 unknown$800,000–$899,999 0 0 0 0 0 9 unknown$900,000–$999,999 0 1 0 1 0.3 13 43.3$1 Million–$1.9 Million 0 0 0 0 0 31 unknown$2 Million–$2.9 Million 0 0 0 0 0 6 unknown$3 Million–$4.9 Million 0 0 0 0 0 1 unknown$5 Million Plus 0 0 0 0 0 0 unknownTOTALS 23 31 38 92 30.7 1,130 36.8

Haywood County


2010

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YTDUnitsSold

YTDMonthly Average

Units Sold


AbsorptionRate**


$0–$74,999 4 0 7 11 3.7 30 8.1$75,000–$149,999 2 2 3 7 2.3 67 29.1$150,000–$199,999 0 4 1 5 1.7 72 42.3$200,000–$249,999 0 1 1 2 0.7 59 84.3$250,000–$299,999 1 0 1 2 0.7 65 92.9$300,000–$349,999 1 1 0 2 0.7 35 50$350,000–$399,999 0 0 1 1 0.3 30 100$400,000–$449,999 1 0 1 2 0.7 17 24.3$450,000–$499,999 0 0 0 0 0 23 unknown$500,000–$549,999 0 0 0 0 0 9 unknown$550,000–$599,999 0 0 0 0 0 17 unknown$600,000–$699,000 0 0 0 0 0 9 unknown$700,000–$799,000 0 0 0 0 0 6 unknown$800,000–$899,999 0 0 0 0 0 6 unknown$900,000–$999,999 0 0 0 0 0 6 unknown$1 Million–$1.9 Million 1 0 1 2 0.7 10 14.3$2 Million–$2.9 Million 0 0 0 0 0 1 unknown$3 Million–$4.9 Million 0 0 0 0 0 1 unknown$5 Million Plus 0 0 0 0 0 1 unknownTOTALS 10 8 16 34 11.3 464 41.1

Rutherford County

YTDUnitsSold

YTDMonthly Average

Units Sold


AbsorptionRate**


$0–$74,999 1 0 0 1 0.3 4 13.3$75,000–$149,999 4 1 0 5 1.7 29 17.1$150,000–$199,999 1 0 1 2 0.7 37 52.9$200,000–$249,999 1 1 0 2 0.7 29 41.4$250,000–$299,999 2 1 3 6 2 24 12$300,000–$349,999 0 0 0 0 0 20 unknown$350,000–$399,999 0 1 0 1 3 25 83.3$400,000–$449,999 0 0 0 0 0 8 unknown$450,000–$499,999 0 0 0 0 0 13 unknown$500,000–$549,999 0 0 0 0 0 3 unknown$550,000–$599,999 0 0 0 0 0 12 unknown$600,000–$699,000 0 0 0 0 0 10 unknown$700,000–$799,000 0 0 0 0 0 10 unknown$800,000–$899,999 0 0 0 0 0 10 unknown$900,000–$999,999 0 0 0 0 0 5 unknown$1 Million–$1.9 Million 0 0 0 0 0 21 unknown$2 Million–$2.9 Million 0 0 0 0 0 7 unknown$3 Million–$4.9 Million 0 0 0 0 0 1 unknown$5 Million Plus 0 0 0 0 0 0 unknownTOTALS 9 4 4 17 5.7 268 47

Polk County




2010

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YTDUnitsSold

YTDMonthly Average

Units Sold


AbsorptionRate**


$0–$74,999 2 1 1 4 1.3 13 10$75,000–$149,999 4 3 2 9 3 79 26.3$150,000–$199,999 3 5 4 12 4 102 25.5$200,000–$249,999 0 5 1 6 2 82 41$250,000–$299,999 0 1 0 1 0.3 80 266.7$300,000–$349,999 3 1 4 8 2.7 54 20$350,000–$399,999 0 0 2 2 0.7 47 67.1$400,000–$449,999 1 0 0 1 3 25 83.3$450,000–$499,999 0 0 0 0 0 30 unknown$500,000–$549,999 0 0 0 0 0 18 unknown$550,000–$599,999 0 1 0 1 0.3 36 120$600,000–$699,000 2 0 0 2 0.7 31 44.3$700,000–$799,000 0 1 0 1 3 21 70$800,000–$899,999 0 0 0 0 0 14 unknown$900,000–$999,999 0 0 1 1 0.3 17 56.7$1 Million–$1.9 Million 0 0 0 0 0 40 unknown$2 Million–$2.9 Million 0 0 0 0 0 13 unknown$3 Million–$4.9 Million 0 0 0 0 0 5 unknown$5 Million Plus 0 0 0 0 0 1 unknownTOTALS 15 18 15 48 16 709 44.3

Transylvania County

YTDUnitsSold

YTDMonthly Average

Units Sold


AbsorptionRate**


$0–$74,999 0 0 1 1 0.3 4 13.3$75,000–$149,999 3 2 2 7 2.3 39 17$150,000–$199,999 0 0 1 1 0.3 35 116.7$200,000–$249,999 0 2 1 3 1 34 34$250,000–$299,999 1 0 0 1 0.3 40 133.3$300,000–$349,999 0 0 0 0 0 25 unknown$350,000–$399,999 0 0 1 1 0.3 17 56.7$400,000–$449,999 0 0 0 0 0 9 unknown$450,000–$499,999 0 0 0 0 0 24 unknown$500,000–$549,999 0 1 0 1 0.3 7 23.3$550,000–$599,999 0 0 0 0 0 13 unknown$600,000–$699,000 0 0 0 0 0 7 unknown$700,000–$799,000 0 0 0 0 0 6 unknown$800,000–$899,999 0 0 0 0 0 6 unknown$900,000–$999,999 0 0 0 0 0 7 unknown$1 Million–$1.9 Million 0 0 0 0 0 10 unknown$2 Million–$2.9 Million 0 0 0 0 0 1 unknown$3 Million–$4.9 Million 0 0 0 0 0 0 unknown$5 Million Plus 0 0 0 0 0 0 unknownTOTALS 4 5 6 15 5 284 56.8

Madison County



Residential Vacant Lots with Restrictions from 0 to 3

PRICE RANGE

BUNCOMBE HAYwOOD HENDERSON MADISON POLk RUTHERFORD TRANSYL–VANIA NCMtnsMLS

2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009

$0–$100,000 21 20 15 13 11 14 0 2 2 2 16 8 14 12 90 77

$100,000–$200,000 2 3 0 1 4 6 0 0 0 1 2 1 1 0 9 11

$200,000–$300,000 1 4 1 1 0 1 0 0 0 1 1 0 0 1 6 3

$300,000–$400,000 0 1 0 0 0 0 0 0 0 0 0 0 0 4 0 4

$400,000–$500,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

$500,000–$750,000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0

$750,000–$1,000,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

$1 Million+ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

TOTALS 28 26 16 14 15 21 0 2 2 3 19 8 15 13 106 92

Percentage Change +7.7 +14.3 –28.6 –200 –33.3 +137.5 +15.0 +15.2

Closed Lot/Land SalesJanuary–March, 2010

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PRICE RANGE BUNCOMBE HAYwOOD HENDERSON MADISON POLk RUTHER-FORD TRANSYLVANIA NCMtnsMLS

$0–$100,000 864 762 575 179 111 436 439 3,634

$100,000–$200,000 315 279 289 23 15 97 136 1,207

$200,000–$300,000 134 56 52 12 7 36 55 367

$300,000–$400,000 62 15 14 1 7 19 26 149

$400,000–$500,000 18 2 3 0 0 7 18 53

$500,000–$750,000 38 0 6 1 1 3 12 65

$7500,000–$1,000,000 15 0 0 0 0 0 2 17

$1 Million+ 5 0 0 0 0 3 6 14

TOTALS 1,451 1,114 939 216 141 601 694 5,506

Totals as of 1/05/10 1,386 1,210 952 225 170 647 723 5,601

Percentage Change +4.7 –7.9 –1.4 –4.0 –16.1 –7.1 –4.0 –1.72010

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Residential Active Lot/Land Inventory 0–3 AcresAs of 4/5/10

Quarterly Market Report

KellerWilliamsProfessionalsAsheville

PrudentialLifestyles

$106,630,485

$62,694,280

$18,222,460$14,580,274

ReMax Mountain Realty

$11,532,721Century 21Mtn Lifestyle

80%Up to $299,999

1.5%$1,000,000+

4.6%$500,000 - $999,999

14%$300,000 - $499,999


Percentage of Closed Residential Sales by Price

Sold Properties

Closed Sales Volume

Properties Sold Year to Date 2010 by the Top 5 WNC Real Estate FirmsProperty Types: residential, improved and unimproved

*These totals and averages include all sales reported through the North Carolina Mountains Multiple Listing Service.

Note: Information as reported by the North Carolina Mountains Multiple Listing Service. The North Carolina Mountains Multiple Listing Service does not guarantee or is in any way responsible for its accuracy. Data maintained by the Multiple Listing Service may not reflect all real estate activity in the market. These figures are based upon actual closed transactions as reported through the above mentioned service.

1.5%1,000,000+ 4.6%

$500,000 - $999,999

14%$300,000 - $499,999

80%Up to $299,999

Percentage of First Quarter Closed Residential Sales by Price

2010 First Quarter Snapshot

12 Month Closed Residential Sales Unit Comparison

600

500

400

300

200

100

APR MAY JUNE JULY AUG SEPT OCT NOV DEC JAN FEB MAR

2008

- 4

72

2009

- 3

13

2010

- 2

55

2008

- 5

30

2009

- 3

49

2008

- 4

91

2009

- 4

42

2008

- 5

09

2009

- 4

93

2008

- 4

83

2009

- 4

49

2008

- 3

97

2009

- 4

49

2008

- 4

23

2009

- 4

71

2008

- 2

93

2009

- 3

90

2008

- 3

27

2009

- 4

06

2008

- 3

74

2009

- 2

17

2010

- 2

36

2008

- 3

91

2009

- 2

64

2010

- 3

78

2008

- 4

60

2009

- 3

52

12 Month Unit Sales ComparisonClosed Residential Sales


Residential Real Estate BrokerageSince 1976, Western North Carolina’s leading residential brokerage firm.

Commercial Real Estate BrokerageNAI BH Commercial specializes in the marketing and sales of commercial, industrial, office and retail properties.

Builder/Developer MarketingWith a proven track record, our New Homes Division provides complete sales and marketing programs designed to fulfill the needs of builders and developers.

Relocation ServicesRelocating to Western North Carolina or anywhere else in the world can be an exciting and easy process when working with the trained relocation professionals in the Relocation Department of Beverly-Hanks & Associates. We offer you a worldwide network at your fingertips.

Mortgage FinancingBeverly-Hanks Mortgage Services’ is dedicated to making the process of financing real estate easy and enjoyable. Staffed with financing professionals dedicated to providing prompt, personal service. We offer a broad menu of financing options, very competitive rates and customer service that is second to none.

Title InsuranceRepresentatives at Cardinal Title Center, LLC serve clients statewide. This experience adds value to the closing process by fully understanding mortgage and title requirements which allows us to streamline the transaction and overcome issues before they become obstacles to closing.

Beverly-Hanks & AssociatesWNC’s Leading Full Service Real Estate Company

Family of Services

®

®


New Home Division

300 Executive ParkAsheville, NC 28801

www.beverly-hanks.com

1st Quarter 2010 Market Report

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