1. Jan-May 2011Market Stats Florida Keys

2. Florida Keys Real Estate Market Jan-May 2011 Vs. 2010 Upper KeysMiddle KeysLower KeysKey WestAll Areas Lower Matecumbe-KL7 Mile Bridge-Long KeyBay Point-Big PineKW-Shark KeyKeys-wide Total Number of Sales As of 05/31/11 +40% More 295 +10% More 161 +6% More 171 +7% More 299 +16% More 926 Avg. Sale Price As of 05/31/11 -4% Less $414K -13% Less $385K +10% More $353K +17% More $491K +3% More $423K $ Value of Sales As of 05/31/11 +35% More $122.4M -4% Less $62.0M +17% More $60.5M +24% More $146.1M +20% More $391.0M Avg. Days to Sell As of 05/31/11 +10% More 292 +6% More 310 -6% Less 238 -2% Less 165 +3% More 251 Sale Price to Original List Price Jan-May 11 -6% Less 72.46% +26% More 73.56% +4% More 81.92% +24% More 79.83% 10% More 76.94% Sale Price to Final List Price Jan-May 11 -2% Less 88.47% N/C 90.93% -1% Less 89.38% +3% More 96.60% N/C 91.35% Pending Transactions As of 05/31/11 +34% More 376 +13% More 195 +14% More 212 +11% More 316 +19% More 1,099 Number of Properties For Sale on 05/31/11 -15% Less 1,155 -16% Less 697 +8% More 654 -8% Less 958 -9% Less 3,464 Average List Price As of 05/31/11 -9% Less $765K -6% Less $685K -42% Less $348K -14% Less $791K -15% Less $677K Months of Inventory As of 05/31/11 -39% Less 20 -24% Less 22 +2% More 19 -14% Less 16 -22% Less 19

3. Number Properties Available Vs Sold – Keys-Wide Source: Florida Keys MLS Month of April