Fourth Quarter - 2014Market Report

Executive SummaryAs we begin 2015, this report will show that Rhode Island continues to recover and build in the housing market.

Across the state, the inventory has remained fairly balanced. Q4 has shown a high demand for homes priced under $750,000, with the highest demand for homes priced under $250,000. The statewide median sale price is unchanged at $215,000, yet in Q4, areas like Newport saw a 44% increase in their average sale price to $810,000 in comparison to year end last year.

Quarter to Quarter, statewide home sales were up 6% and the median sale price was up 8%. Newport County saw a 23% increase in sales and 15% in prices. Washington County sales were up 11% while Providence and Bristol Counties both had increases in sales and prices.

Most notably, Newport Single Family Q4 sales increased 15% and the average sale price was up an astonishing 94% over Q4 2013. Providence’s East Side sales were up 31% and Westerly saw a 20% increase in both sales and prices quarter to quarter. Block Island sold 35 % more homes in 2014 vs. 2013. The Statewide Luxury Market saw an 18% increase in the number of homes sold in Q4 2014 in comparison to Q4 2013.

We are looking forward to a Fast-Paced and Improving 2015!

Rhode Island Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 2,174 2,313 6% 8,851 8,866 .2% AVERAGE SALE PRICE $268,953 $286,854 7% $269,949 $286,488 6% MEDIAN SALE PRICE $201,000 $217,000 8% $205,000 $215,000 5%

AVERAGE DOM 87 89 2% 92 87 5% % SALE TO LIST PRICE 95% 95% 0% 95% 95% 0%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$0 - $250,000 4,704 1,129 4 4,410 1,285 3 $250,000 - $500,000 3,063 542 6 3,126 641 5 $500,000 - $750,000 798 100 8 755 120 6 $750,000 - $1,000,000 353 40 9 324 36 9 $1,000,000 - $2,000,000 351 35 10 338 34 10 $2,000,000 - $5,000,000 203 10 20 171 16 11 $5,000,000 and up 29 1 29 24 1 24 Market Total 9,501 1,857 5 9,148 2,133 4

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average

Sale Price $414,966 $422,796 $434,410 $379,631 $309,118 $329,368 $326,435 $333,754 $269,949 $286,488

Days on Market 75 89 98 104 108 101 109 108 92 87

% Sale Price to

List Price 95.8 95.8 93.9 93.4 92.7 92.4 92.1 92.7 94.6 94.9

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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Av. Sale Price

DOM

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

Newport County Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 177 218 23% 768 823 7% AVERAGE SALE PRICE $477,516 $549,014 15% $473,297 $535,292 13% MEDIAN SALE PRICE $325,000 342,500 5% $329,500 $340,000 3%

AVERAGE DOM 135 148 10% 142 143 1% % SALE TO LIST PRICE 93% 94% 1% 92% 93% 1%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$0 - $250,000 219 41 5 179 49 4 $250,000 - $500,000 389 64 6 402 100 4 $500,000 - $750,000 162 13 12 157 21 7 $750,000 - $1,000,000 99 14 7 71 10 7 $1,000,000 - $2,000,000 89 9 10 95 12 8 $2,000,000 - $5,000,000 101 3 34 74 8 9 $5,000,000 and up 17 1 17 19 1 19 Market Total 1076 145 7 997 201 5

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average

Sale Price $562,745 $591,833 $662,348 $565,318 $448,523 $489,019 $508,967 $540,348 $473,297 $535,292

Days on Market 96 106 119 123 130 129 150 151 142 143

% Sale Price to

List Price 94.3 93.7 93.6 91.7 89.3 91.3 90.9 92.3 92 93.1

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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Median Sale Price

# Of Homes Sold

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

Washington County Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 377 419 11% 1,461 1,554 6% AVERAGE SALE PRICE $411,368 $396,526 4% $396,440 $400,017 1% MEDIAN SALE PRICE $310,000 $304,000 2% $290,000 $301,000 4%

AVERAGE DOM 113 113 0% 118 111 6% % SALE TO LIST PRICE 94% 94% 0% 94% 93% 1%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$0 - $250,000 507 86 6 408 111 4 $250,000 - $500,000 853 157 5 752 144 5 $500,000 - $750,000 255 31 8 225 29 8 $750,000 - $1,000,000 120 13 9 121 11 11 $1,000,000 - $2,000,000 167 16 10 152 19 8 $2,000,000 - $5,000,000 65 7 9 55 4 14 $5,000,000 and up 8 0 N/A 3 0 N/A Market Total 1,975 310 6 1,716 318 5

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average

Sale Price

$459,224 $473,068 $451,686 $436,509 $351,124 $383,789 $377,122 $415,679 $392,460 $400,017

Days on Market 80 97 107 111 112 112 113 117 117 111

% Sale Price to

List Price 95.2 98.1 89.6 92.6 92.4 92.0 91.9 92.0 93.7 93.4

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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Median Sale Price

# Of Homes Sold

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

Providence County Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 1,042 1,086 4% 4,168 4,064 2% AVERAGE SALE PRICE $202,492 216,819 7% $203,704 $215,085 6% MEDIAN SALE PRICE $173,000 182,000 5% $120,000 $180,000 50%

AVERAGE DOM 73 71 3% 79 71 10% % SALE TO LIST PRICE 96% 96% 0% 96% 96% 0%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$0 - $250,000 2,637 659 4 2,501 735 3 $250,000 - $500,000 896 168 5 1,021 221 5 $500,000 - $750,000 158 25 6 154 29 5 $750,000 - $1,000,000 45 7 6 41 6 7 $1,000,000 - $2,000,000 26 6 4 26 2 13 $2,000,000 - $5,000,000 10 0 N/A 10 2 5 $5,000,000 and up 0 0 N/A 0 0 N/A Market Total 3,772 865 4 3,753 995 4

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average

Sale Price $295,505 $296,675 $283,043 $237,389 $182,516 $210,629 $194,388 $192,094 $204,161 $215,085

Days on Market 59 74 81 89 90 80 91 92 79 71

% Sale Price to

List Price 97.1 96.5 95.6 94.6 94.3 94.7 94.5 94.4 95.7 96.3

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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Median Sale Price

# Of Homes Sold

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

Bristol County Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 96 104 8% 452 430 5% AVERAGE SALE PRICE $370,406 $390,001 5% $375,970 $415,102 10% MEDIAN SALE PRICE $291,500 $320,000 10% $314,750 $336,250 7%

AVERAGE DOM 98 101 3% 104 99 5% % SALE TO LIST PRICE 94% 94% 0% 95% 95% 0%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$0 - $250,000 194 59 3 195 70 3 $250,000 - $500,000 456 72 6 443 92 5 $500,000 - $750,000 120 15 8 127 21 6 $750,000 - $1,000,000 47 3 16 45 4 11 $1,000,000 - $2,000,000 45 3 15 37 1 37 $2,000,000 - $5,000,000 21 0 N/A 26 2 13 $5,000,000 and up 4 0 N/A 2 0 N/A Market Total 887 152 6 875 190 5

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Average Sale Price $465,290 $452,418 $486,501 $418,182 $362,096 $350,232 $352,537 $325,240 $376,377 $415,102

Days on Market 88 96 106 110 121 105 108 104 105 99

% Sale Price to

List Price 95 94.7 94.6 93.7 92.7 89.3 88.8 89.8 94.6 95.0

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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Median Sale Price

# Of Homes Sold

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

Kent County Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 483 482 .2% 2002 1968 2% AVERAGE SALE PRICE $204,786 $208,226 2% $213,614 $214,188 .3% MEDIAN SALE PRICE $175,000 $179,950 3% $177,000 $180,000 2%

AVERAGE DOM 77 78 1% 80 75 6% % SALE TO LIST PRICE 96% 96% 0% 96% 96% 0%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$0 - $250,000 1147 284 4 1127 321 4 $250,000 - $500,000 469 81 6 507 83 6 $500,000 - $750,000 120 15 8 126 20 6 $750,000 - $1,000,000 42 3 14 46 4 12 $1,000,000 - $2,000,000 24 1 24 28 0 N/A $2,000,000 - $5,000,000 6 0 N/A 6 0 N/A $5,000,000 and up 0 0 N/A 0 0 N/A Market Total 1808 384 5 1841 428 4

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average

Sale Price

$292,064 $299,988 $288,473 $240,757 $201,329 $213,170 $199,162 $195,407 $212,893 $214,188

Days on Market 54 70 76 85 85 77 85 78 80 75

% Sale Price to

List Price 97.6 96.3 96.2 94.8 95.0 94.9 94.4 95.2 96 96.1

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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Median Sale Price

# Of Homes Sold

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

Newport Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 46 53 15% 181 189 4% AVERAGE SALE PRICE $424,998 $823,132 94% $563,934 $810,168 44% MEDIAN SALE PRICE $337,000 $350,000 4% $390,000 $415,000 6%

AVERAGE DOM 105 162 54% 127 144 13% % SALE TO LIST PRICE 95% 93% 2% 93% 92% 1%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$0 - $250,000 20 6 3 10 3 3 $250,000 - $500,000 81 18 5 98 30 3 $500,000 - $750,000 31 2 16 30 5 6 $750,000 - $1,000,000 26 6 4 19 4 5 $1,000,000 - $2,000,000 21 4 5 22 4 6 $2,000,000 - $5,000,000 31 1 31 18 4 5 $5,000,000 and up 7 1 7 8 1 8 Market Total 217 38 6 205 51 4

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average

Sale Price $716,878 $703,720 $724090 $648,709 $566,218 $658,372 $570,117 $835,059 $571,608 $810,168

Days on Market 101 123 113 143 143 133 160 162 130 144

% Sale Price to

List Price 92.6 93.8 92.9 90.2 84.7 88.9 91.0 94.5 92.5 91.8

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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Median Sale Price

# Of Homes Sold

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

Narragansett Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 58 57 2% 218 223 2% AVERAGE SALE PRICE $604,822 $507,482 16% $511,992 $481,581 6% MEDIAN SALE PRICE $387,500 $395,000 2% $365,000 $374,000 2%

AVERAGE DOM 112 108 4% 120 110 8% % SALE TO LIST PRICE 92% 96% 4% 92% 94% 2%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$0 - $250,000 20 2 10 15 4 4 $250,000 - $500,000 114 25 5 117 19 6 $500,000 - $750,000 46 8 6 42 8 5 $750,000 - $1,000,000 26 2 13 23 1 23 $1,000,000 - $2,000,000 21 2 11 18 5 4 $2,000,000 - $5,000,000 15 1 15 15 0 N/A $5,000,000 and up 2 0 N/A N/A N/A N/A Market Total 244 40 6 230 37 6

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average

Sale Price $578,643 $574,506 $491,788 $533,271 $391,910 $533,508 $477,349 $529,761 $494,765 $481,581

Days on Market 79 114 123 125 124 135 139 141 120 110

% Sale Price to

List Price 95.4 92.2 93.1 91.3 92.3 92.2 91.0 88.2 92.5 94.4

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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Median Sale Price

# Of Homes Sold

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

East Side of Providence Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 35 46 31% 173 179 3% AVERAGE SALE PRICE $448,073 $491,025 10% $523,123 $536,076 2% MEDIAN SALE PRICE $419,000 $461,875 10% $440,000 $460,000 5%

AVERAGE DOM 82 86 5% 85 76 11% % SALE TO LIST PRICE 95% 95% 0% 95% 96% 1%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$0 - $250,000 18 3 6 12 6 2 $250,000 - $500,000 39 17 2 48 15 3 $500,000 - $750,000 31 10 3 26 11 2 $750,000 - $1,000,000 11 3 4 16 5 3 $1,000,000 - $2,000,000 14 4 4 16 1 16 $2,000,000 - $5,000,000 5 0 N/A 6 2 3 $5,000,000 and up 0 0 N/A 0 0 N/A Market Total 118 37 3 124 40 3

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average

Sale Price $578,834 $600,197 $575,976 $592,702 $506,981 $507,147 $480,436 $521,866 $523,969 $536,076

Days on Market 64 70 67 83 82 79 85 102 84 76

% Sale Price to

List Price 95.6 95.3 94.5 95.5 93.5 94.5 94.1 93.4 95.5 95.8

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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Median Sale Price

# Of Homes Sold

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

Jamestown Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 20 21 5% 80 67 16% AVERAGE SALE PRICE $755,987 $766,476 1% $706,647 $719,975 2% MEDIAN SALE PRICE $512,000 $480,000 6% $467,800 $430,000 8%

AVERAGE DOM 184 180 2% 150 155 3% % SALE TO LIST PRICE 94% 93% 1% 93% 94% 1% SUPPLY/DEMAND SNAPSHOT

Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$0 - $250,000 1 0 N/A 2 2 1 $250,000 - $500,000 29 6 5 37 9 4 $500,000 - $750,000 16 3 5 24 4 6 $750,000 - $1,000,000 12 2 6 15 1 15 $1,000,000 - $2,000,000 10 1 10 9 0 N/A $2,000,000 - $5,000,000 27 0 N/A 24 1 24 $5,000,000 and up 6 0 N/A 6 0 N/A Market Total 101 12 8 117 17 7

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average

Sale Price $844,450 $820,028 $1,051,125 $1,114,325 $863,452 $751,075 $733,908 $669,222 $726,834 $719,975

Days on Market 109 126 140 125 159 148 196 197 148 155

% Sale Price to

List Price 94.0 92.9 92.8 94.2 91.9 92.0 91.3 91.8 92.6 93.6

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2005 2006 2007 2008 2009 2010 2011 2012 2013 2004

Median Sale Price

# Of Homes Sold

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

Westerly Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 60 72 20% 226 262 16% AVERAGE SALE PRICE $376,420 $454,094 21% $517,342 $502,637 3% MEDIAN SALE PRICE $277,500 $295,920 7% $269,500 $281,000 4%

AVERAGE DOM 122 107 12% 132 119 10% % SALE TO LIST PRICE 97% 92% 5% 92% 90% 2%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$0 - $250,000 92 14 7 52 14 4 $250,000 - $500,000 148 23 6 108 18 6 $500,000 - $750,000 51 7 7 46 6 8 $750,000 - $1,000,000 21 2 11 23 1 23 $1,000,000 - $2,000,000 30 3 10 27 1 27 $2,000,000 - $5,000,000 19 3 6 17 2 9 $5,000,000 and up 6 0 N/A 1 0 N/A Market Total 367 52 7 274 42 7

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average

Sale Price $480,102 $580,597 $543,149 $511,132 $422,925 $391,002 $468,075 $584,259 $520,480 $502,637

Days on Market 93 109 124 128 134 124 120 147 135 119

% Sale Price to

List Price 93.1 92.3 91.4 91.9 89.1 88.7 88.8 91.4 91.8 90.0

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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Median Sale Price

# Of Homes Sold

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

Block Island Single-Family Homes – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 10 10 0% 23 31 35% AVERAGE SALE PRICE $1,604,100 $1,321,100 18% $1,433,522 $1,281,081 11% MEDIAN SALE PRICE $1,355,000 $1,150,000 15% $1,100,000 $1,175,000 7%

AVERAGE DOM 290 383 32% 291 359 23% % SALE TO LIST PRICE 89% 90% 1% 88% 88% 0%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active Listings

Pending Listings

$0 - $250,000 N/A N/A N/A N/A N/A N/A $250,000 - $500,000 N/A N/A N/A N/A N/A N/A $500,000 - $750,000 6 1 6 2 0 N/A $750,000 - $1,000,000 16 5 3 14 2 7 $1,000,000 - $2,000,000 54 6 9 35 5 7 $2,000,000 - $5,000,000 14 2 7 9 2 5 $5,000,000 and up N/A N/A N/A 1 0 N/A Market Total 90 14 6 61 9 7

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average

Sale Price $578,834 $600,197 $575,976 $592,702 $506,981 $507,147 $480,436 $521,866 $1,433,522 $1,281,081

Days on Market 64 70 67 83 82 79 85 102 291 359

% Sale Price to

List Price 95.6 95.3 94.5 95.5 93.5 94.5 94.1 93.4 88 87.9

0

5

10

15

20

25

30

35

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Median Sale Price

# Of Homes Sold

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).

Rhode Island Luxury Single-Family Homes (750K+) – Q4 2013 v Q4 2014

OVERVIEW

Q4 2013 Q4 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE

HOMES SOLD 84 99 18% 324 369 14% AVERAGE SALE PRICE $1,317,692 $1,312,688 .4% $1,347,307 $1,393,929 3% MEDIAN SALE PRICE $936,250 $1,000,000 7% $942,500 $973,500 3%

AVERAGE DOM 168 204 21% 175 175 0% % SALE TO LIST PRICE 92% 92% 0% 90% 91% 1%

SUPPLY/DEMAND SNAPSHOT Q4 2013 Q4 2014

SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*

PRICE RANGE Active

Listings Pending Listings Active

Listings Pending Listings

$750,000 - $1,000,000 353 40 9 324 36 9 $1,000,000 - $2,000,000 351 35 10 338 34 10 $2,000,000 - $5,000,000 203 10 20 171 16 11 $5,000,000 and up 29 1 29 24 1 24 Market Total 936 86 11 857 87 10

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Av. Sale

Price $1,751,252 $1,842,918 $2,014,631 $1,963,550 $1,868,310 $1,865,684 $2,095,917 $2,164,867 $1,342,308 $1,393,929

Days on Market 142 156 151 145 175 170 184 191 175 175

% Sale Price to

List Price 90.4 90.1 91.5 90.1 84.8 80.0 79.9 83.7 90.4 90.8

0

50

100

150

200

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300

350

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 $0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

Average Sale Price

DOM

This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (10/1/14) through (12/31/14).