Jan-Nov 2014 “Market Stats” Florida Keys

Florida Keys Real Estate Market Jan-Nov 2014 Vs Upper KeysMiddle KeysLower KeysKey WestAll Areas Lower Matecumbe- KL 7 Mile Bridge-Long Key Bay Point-Big PineKW-Shark KeyKeys-wide 2013 Number of Sales As of 11/30/14 +7% More % More % More % More % More 2,563 2,389 Avg. Sale Price As of 11/30/14 +15% More $479K No Change $406K -4% Less $354K +20% More $654K +11% More $492K $443K $ Value of Sales As of 11/30/14 +23% More $405M +15% More $207M -1% Less $165M +27% More $485M +19% More $1.26Billion $1.06B Sale Price to Origin al List Price Nov‘14 +9% More 89.78% +5% More 88.60% +6% More 88.60% +7% More 84.63% +7% More 89.40% 82.44% Sale Price to Final List Price Nov ‘14 +1% More 92.80% No Change 91.88% +3% More 92.92% +1%More 95.47% +1% More 93.27% 91.90% Avg. Days to Sell As of 11/31/14 -22% Less % More % Less % Less %Less Pending Transactions at the end of Nov (Nov # Sales 68) 40 (Nov # Sales 28) 37 (Nov # Sales 25) 17 (Nov # Sales 54) 145 (Nov # Sales 175) N/A Listed Properties As of 11/30/14 -3% Less % Less % Less % More % Less 2,564 2,734 Avg. “List Price” As of 11/30/14 +27% More $941K +13% More $716K +7% More $609K +2% More $749K +13% More $776 $684K Mths of Inventory As of 11/30/14 -9% Less % Less % Less 11 No Change % Less 11 13

Number Properties Available Vs. Sold – Keys-Wide Source: Florida Keys MLS -27% 2,564 3, % +55%

Coldwell Banker & Offices Market Share Ranking Jan-Nov 2014

Key Wide Market Share Jan-Nov 2014 Key West to Key Largo (MM )

Lower to Upper Keys Market Share Jan-Nov 2014 Lower Keys to Upper Keys (MM )

Middle Keys Market Share Jan-Nov 2014 Middle Keys (MM ) Off # Listed Listing % Mkt # Sales Sides Sales % Market $ Volume Sales MM $ Volume % Mkt. ‘14‘13‘14‘13‘14‘13‘14‘13‘14‘13‘14‘13 CBSREC $137$ ACRE-MK $79$ RE/Max All Keys $ Island Breeze $21$ Key Colony Beach $17$ C-21 Schwartz $16$

Lower Keys Market Share Jan-Nov 2014 Lower Keys (MM )

Key West Market Share Jan-Nov 2014 Key West (MM )

Upper Keys Market Share Jan-Nov 2014 Upper Keys (MM )