MARKET AREA UPDATE Year: 2018 Report as of: 1Q 2Q 3Q 4Q

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1 Market Area (City, State): Los Angeles County, CA Provided by (Company / Companies): Coldwell Banker Residential Brokerage - SoCal Provided by RDC Member(s): Thomas Hilmar MARKET AREA UPDATE Year: 2018 Report as of: 1Q 2Q 3Q 4Q What are the most significant trends in your current real estate market? (Attach addenda, charts, graphs, etc. as appropriate) * Define Market Area: Urban (city limit area only) Metro Area (as defined by MSA) Other: Please explain: *County Single Family (detached) Condominiums / Townhomes (attached) **Sales Price (current) Choose one: Average Median $ 580,000 $ 455,000 **Sales Price (same time prior year) Choose one: Average Median $ 545,000 $ 430,000 Average Days on Market list to contract (current) Absorption Months of Inventory (last 3 months) Number of active listings divided by the average # of sales per month (for the last 3 months) = # of months needed to sell existing inventory Example: Active Listings = 4500 Closed sales in the past 3 months = 4000 RIGHT: 4,000/3 (months)=1,333 (sales per month) 4,500/1,333=3.37 months of inventory WRONG: 4,500/4,000=1 month of inventory # 36 Increase Decreasing Stable # 2.0 # 1.8 Absorption Months of Inventory (same time prior year) # 1.8 # 1.5 Active Listings # 5,560 # 1,532 Closed ( total last 3 months) # 6,339 # 2,108 Expired Listings ( total last 3 months if available) # # Change in Home Values REAL ESTATE MARKET DATA % 2.0 Increase in past 3 months Stable Decreasing in past 3 months Sold LP/SP Ratio (last 3 months) % 99.6 % 100 # 34 Increase Decreasing Stable % 1.4 Increase in past 3 months Stable Decreasing in past 3 months **Average = the result by adding all sales prices and dividing by the number of units sold Median = denoting the middle of the range of values GENERAL ECONOMY How would you rate the overall economic conditions in area as defined above: Mixed Stable Healthy Shrinking Depressed Supply of Listings: (Single family) Shortage Oversupply Balanced ~ (Condo/Town home) Shortage Oversupply Balanced Overall Market Conditions: Active Stable Sluggish Flat Depressed Unemployment Rate: % % 5.5 Average Please check trend: Increasing Decreasing Same Please describe local economic conditions/climate: (draw upon newspaper articles concerning the coming and going of corporations, layoffs, etc.) *ECONOMY The unemployment rate in Los Angeles is 5.5% (U.S. avg. is 5.2%). Recent job growth is Positive. Los Angeles jobs have increased by 1.37%. COST OF LIVING Compared to the rest of the country, Los Angeles's cost of living is 66.20% higher than the U.S. average. POPULATION Los Angeles's population is 3,971,880 people. Since 2000, it has had a population growth of 13.96%. REAL ESTATE The median home cost in Los Angeles is $583,600. Home appreciation the last 10 years has been 11.09%. RENTAL INFORMATION

2 Is There a Charge for Rental Assistance: Yes No Outsourced Is Home/Condo Rental Information Available in Your MLS: Yes No Single Family Housing Availability: (3+Bedrooms) Shortage Oversupply Balanced Average Rent $2,450 Condo/Townhome Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent $2,350 Apartment Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent $1,650

3 Price Range: 0 to Properties: Townhome, Condo Trending Versus*: Trending Versus*: Market Profile & Trends Overview Month LM L3M PYM LY YTD PriorYTD PriorYear Median List Price of all Current Listings $538,000-2% 10% Average List Price of all Current Listings $701,904-4% 8% June Median Sales Price $482,000 6% 4% 8% 12% $460,000 8% 7% June Average Sales Price $583,085 4% 3% 8% 11% $560,680 9% 6% Total Properties Currently for Sale (Inventory) 1,532 23% 13% June Number of Properties Sold % -8% 3,711-6% June Average Days on Market (Solds) 32-6% -6% 3% -14% 34-13% -8% Asking Price per Square Foot (based on New Listings) $456 2% 2% 9% 10% $445 9% 8% June Sold Price per Square Foot $428-1% 0% 5% 7% $424 8% 6% June Month's Supply of Inventory % 9% 23% 13% 2.0 3% 10% June Sale Price vs List Price Ratio 99.8% -0.4% 0% 0% 0.3% 99.9% 0.4% 0.4% * LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date Property Sales June Property sales were 762, down -8.3% from 831 in June of 2017 and 11.6% higher than the 683 sales last month. June 2018 sales were at a mid level compared to June of 2017 and June YTD sales of 3,711 are running -5.5% behind last year's year-to-date sales of 3,928. Prices The Median Sales Price in June was $482,000, up 7.6% from $448,000 in June of 2017 and up 5.9% from $455,000 last month. The Average Sales Price in June was $583,085, up 8.1% from $539,276 in June of 2017 and up 4.4% from $558,772 last month. June 2018 ASP was at highest level compared to June of 2017 and 2016.

4 Price Range: 0 to Properties: Townhome, Condo Inventory & MSI The Total Inventory of Properties available for sale as of June was 1,532, up 22.8% from 1,248 last month and up 12.6% from 1,361 in June of last year. June 2018 Inventory was at a mid range compared to June of 2017 and A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2018 MSI of 2.0 months was at a mid range compared with June of 2017 and Market Time The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for June was 32, down -5.9% from 34 days last month and up 3.2% from 31 days in June of last year. The June 2018 DOM was at a mid range compared with June of 2017 and Selling Price per Square Foot The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The June 2018 Selling Price per Square Foot of $428 was down -1.4% from $434 last month and up 4.6% from $409 in June of last year.

5 Price Range: 0 to Properties: Townhome, Condo Selling Price vs Listing Price The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The June 2018 Selling Price vs List Price of 99.8% was down from 100.2% last month and down from 100.0% in June of last year. Inventory / New Listings / Sales 'This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in June 2018 was 957, down -1.3% from 970 last month and down -5.4% from 1,012 in June of last year.

6 Price Range: 0 to Properties: Townhome, Condo Homes Sold Mo. Roll Avg (000's) MedianSalePrice Mo. Roll Avg Inventory 1,763 1,720 1,717 1,567 1,495 1,230 1,291 1,311 1,288 1,367 1,439 1,547 1,650 1,597 1,556 1,428 1,305 1,080 1,172 1,122 1,148 1,198 1,248 1,361 1,329 1,278 1,265 1,141 1, ,035 1,039 1,079 1,115 1,248 1,532 MSI Days On Market Mo. Roll Avg Price per Sq Ft Mo. Roll Avg Sale to List Price Mo. Roll Avg New Listings 1, , , Inventory 1,763 1,720 1,717 1,567 1,495 1,230 1,291 1,311 1,288 1,367 1,439 1,547 1,650 1,597 1,556 1,428 1,305 1,080 1,172 1,122 1,148 1,198 1,248 1,361 1,329 1,278 1,265 1,141 1, ,035 1,039 1,079 1,115 1,248 1,532 Sales (000's) Avg Sale Price Mo. Roll Avg the Equal Opportunity Act. Coldwell Banker Residential Brokerage is operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data

7 Price Range: 0 to Properties: Single Family Home Trending Versus*: Trending Versus*: Market Profile & Trends Overview Month LM L3M PYM LY YTD PriorYTD PriorYear Median List Price of all Current Listings $709,000 1% 11% Average List Price of all Current Listings $1,144,630 0% 5% June Median Sales Price $615,000 2% 3% 9% 10% $590,000 8% 6% June Average Sales Price $804,221 5% 5% 9% 13% $752,297 7% 6% Total Properties Currently for Sale (Inventory) 5,560 19% 8% June Number of Properties Sold 2,265 3% -13% 11,333-6% June Average Days on Market (Solds) 32-3% -9% -6% -18% 38-7% -3% Asking Price per Square Foot (based on New Listings) $478 2% 1% 7% 9% $468 7% 7% June Sold Price per Square Foot $465 2% 2% 7% 9% $452 8% 6% June Month's Supply of Inventory % 6% 24% 5% 2.4-1% 3% June Sale Price vs List Price Ratio 99.6% -0.3% 0% 0% 0.7% 99.4% 0.6% 0.5% * LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date Property Sales June Property sales were 2,265, down -12.8% from 2,598 in June of 2017 and 2.9% higher than the 2,201 sales last month. June 2018 sales were at their lowest level compared to June of 2017 and June YTD sales of 11,333 are running -5.5% behind last year's year-to-date sales of 11,998. Prices The Median Sales Price in June was $615,000, up 8.8% from $565,000 in June of 2017 and up 1.7% from $605,000 last month. The Average Sales Price in June was $804,221, up 8.7% from $739,554 in June of 2017 and up 5.2% from $764,758 last month. June 2018 ASP was at highest level compared to June of 2017 and 2016.

8 Price Range: 0 to Properties: Single Family Home Inventory & MSI The Total Inventory of Properties available for sale as of June was 5,560, up 19.0% from 4,672 last month and up 8.0% from 5,149 in June of last year. June 2018 Inventory was at a mid range compared to June of 2017 and A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2018 MSI of 2.5 months was at its highest level compared with June of 2017 and Market Time The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for June was 32, down -3.0% from 33 days last month and down -5.9% from 34 days in June of last year. The June 2018 DOM was at its lowest level compared with June of 2017 and Selling Price per Square Foot The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The June 2018 Selling Price per Square Foot of $465 was up 2.0% from $456 last month and up 7.1% from $434 in June of last year.

9 Price Range: 0 to Properties: Single Family Home Selling Price vs Listing Price The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The June 2018 Selling Price vs List Price of 99.6% was down from 99.9% last month and up from 99.5% in June of last year. Inventory / New Listings / Sales 'This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in June 2018 was 3058, down -1.5% from 3,103 last month and down -4.8% from 3,213 in June of last year.

10 Price Range: 0 to Properties: Single Family Home Homes Sold 2,476 2,252 2,216 2,136 1,585 2,211 1,532 1,454 1,966 2,132 2,240 2,419 2,240 2,321 2,290 2,030 1,986 2,165 1,621 1,436 2,135 1,908 2,300 2,598 2,080 2,442 2,198 2,051 1,983 1,940 1,447 1,476 2,071 1,873 2,201 2,265 3 Mo. Roll Avg 2,315 2,201 1,979 1,977 1,776 1,732 1,651 1,851 2,113 2,264 2,300 2,327 2,284 2,214 2,102 2,060 1,924 1,741 1,731 1,826 2,114 2,269 2,326 2,373 2,240 2,230 2,077 1,991 1,790 1,621 1,665 1,807 2,048 2,113 (000's) MedianSalePrice Mo. Roll Avg Inventory 6,820 6,759 6,677 6,328 5,863 5,021 5,307 5,386 5,388 5,457 5,641 5,913 6,307 6,120 5,877 5,674 5,185 4,349 4,468 4,407 4,576 4,765 4,835 5,149 5,278 5,215 5,109 4,718 4,318 3,706 3,794 4,077 4,144 4,488 4,672 5,560 MSI Days On Market Mo. Roll Avg Price per Sq Ft Mo. Roll Avg Sale to List Price Mo. Roll Avg New Listings 3,482 3,142 2,995 2,816 2,191 1,631 2,615 2,795 3,129 3,099 3,165 3,345 3,257 3,226 2,837 2,753 2,222 1,514 2,436 2,373 3,156 3,002 3,176 3,213 3,094 3,057 2,677 2,483 2,042 1,434 2,469 2,610 2,804 2,984 3,103 3,058 Inventory 6,820 6,759 6,677 6,328 5,863 5,021 5,307 5,386 5,388 5,457 5,641 5,913 6,307 6,120 5,877 5,674 5,185 4,349 4,468 4,407 4,576 4,765 4,835 5,149 5,278 5,215 5,109 4,718 4,318 3,706 3,794 4,077 4,144 4,488 4,672 5,560 Sales 2,476 2,252 2,216 2,136 1,585 2,211 1,532 1,454 1,966 2,132 2,240 2,419 2,240 2,321 2,290 2,030 1,986 2,165 1,621 1,436 2,135 1,908 2,300 2,598 2,080 2,442 2,198 2,051 1,983 1,940 1,447 1,476 2,071 1,873 2,201 2,265 (000's) Avg Sale Price Mo. Roll Avg the Equal Opportunity Act. Coldwell Banker Residential Brokerage is operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data