MARKET AREA UPDATE Year: 2017 Report as of: 1Q 2Q 3Q 4Q

MARKET AREA UPDATE Year: 2017 Report as of: 1Q 2Q 3Q 4Q Market Area (City, State): Los Angeles County, CA Provided by (Company / Companies): Coldwell Banker Residential Brokerage - SoCal Provided by RDC Member(s): Thomas Hilmar 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) **Sales Price (current) Choose one: Average Median $ 730,000 $ 490,000 **Sales Price (same time prior year) Choose one: Average Median $ 650,000 $ 450,000 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 # 41 Increase Decreasing Stable # 1.9 # 1.6 Absorption Months of Inventory (same time prior year) # 2.0 # 1.8 Active Listings # 3,762 # 2,930 Closed ( total last 3 months) # 5,995 # 5,773 Expired Listings ( total last 3 months if available) # # Change in Home Values REAL ESTATE MARKET DATA % 1 Increase in past 3 months Stable Decreasing in past 3 months Condominiums / Townhomes (attached) # 38 Increase Decreasing Stable % -1.6 Increase in past 3 months Stable Decreasing in past 3 months Sold LP/SP Ratio (last 3 months) % 98.6 % 98.5 **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 5.50 percent(u.s. avg. is 5.20%). Recent job growth is Positive. Los Angeles jobs have Increased by 1.37 percent. 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 As of 2014, Los Angeles's population is 3,971,880 people. Since 2000, it has had a population growth of 13.96 percent. REAL ESTATE The median home cost in Los Angeles is $583,600. Home appreciation the last 10 years has been 11.09%. RENTAL INFORMATION 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 $2,400 Condo/Townhome Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent $2,200 Apartment Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent $1,600

County: All Price Range: 0 to 999999999 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 $448,948 0% 10% Average List Price of all Current Listings $583,960-3% 7% December Median Sales Price $420,000 2% 0% 8% 8% $413,700 6% 7% December Average Sales Price $491,425-2% 0% 8% 11% $482,594 9% 9% Total Properties Currently for Sale (Inventory) 2,930-5% -8% December Number of Properties Sold 1,890 1% 2% 24,320 4% December Average Days on Market (Solds) 38-3% 0% -16% -10% 37-12% -12% Asking Price per Square Foot (based on New Listings) $375-2% -3% 5% 5% $381 7% 7% December Sold Price per Square Foot $378-2% 1% 10% 11% $367 8% 8% December Month's Supply of Inventory 1.6-6% -5% -10% -30% 1.8-20% -20% December Sale Price vs List Price Ratio 98.5% 0.1% 0% 1% 0.5% 98.7% 0.7% 0.7% * LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date Property Sales December Property sales were 1,890, up 2.2% from 1,849 in December of 2016 and 1.3% higher than the 1,865 sales last month. December 2017 sales were at their highest level compared to December of 2016 and 2015. December YTD sales of 24,320 are running 3.7% ahead of last year's year-to-date sales of 23,452. Prices The Median Sales Price in December was $420,000, up 7.7% from $390,000 in December of 2016 and up 1.9% from $412,000 last month. The Average Sales Price in December was $491,425, up 8.1% from $454,472 in December of 2016 and down -2.3% from $503,233 last month. December 2017 ASP was at highest level compared to December of 2016 and 2015.

County: All Price Range: 0 to 999999999 Properties: Townhome, Condo Inventory & MSI The Total Inventory of Properties available for sale as of December was 2,930, down -4.7% from 3,075 last month and down -8.1% from 3,187 in December of last year. December 2017 Inventory was at the lowest level compared to December of 2016 and 2015. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2017 MSI of 1.6 months was at its lowest level compared with December of 2016 and 2015. 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 December was 38, down -2.6% from 39 days last month and down -15.6% from 45 days in December of last year. The December 2017 DOM was at its lowest level compared with December of 2016 and 2015. 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 December 2017 Selling Price per Square Foot of $378 was down -1.6% from $384 last month and up 9.9% from $344 in December of last year.

County: All Price Range: 0 to 999999999 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 December 2017 Selling Price vs List Price of 98.5% was up from 98.4% last month and up from 97.8% in December 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 December 2017 was 1224, down -31.4% from 1,785 last month and down -6.1% from 1,303 in December of last year.

County: All Price Range: 0 to 999999999 Properties: Townhome, Condo Homes Sold 1,354 1,293 1,907 2,067 2,153 2,275 2,358 2,014 2,029 1,881 1,490 1,881 1,387 1,421 1,952 2,029 2,189 2,291 2,111 2,324 2,103 1,938 1,858 1,849 1,508 1,505 2,128 2,041 2,275 2,379 2,127 2,490 2,094 2,018 1,865 1,890 3 Mo. Roll Avg 1,518 1,756 2,042 2,165 2,262 2,216 2,134 1,975 1,800 1,751 1,586 1,563 1,587 1,801 2,057 2,170 2,197 2,242 2,179 2,122 1,966 1,882 1,738 1,621 1,714 1,891 2,148 2,232 2,260 2,332 2,237 2,201 1,992 1,924 (000's) MedianSalePrice 335 350 360 365 373 375 365 368 375 367 369 370 360 377 384 390 385 390 399 393 390 390 390 390 380 395 410 415 416 423 410 418 425 415 412 420 3 Mo. Roll Avg 348 358 366 371 371 369 369 370 370 369 366 369 374 384 386 388 391 394 394 391 390 390 387 388 395 407 414 418 416 417 418 419 417 416 Inventory 4,672 4,589 4,631 4,720 4,841 4,962 5,282 5,276 5,069 4,655 4,342 3,652 3,888 4,048 4,127 4,276 4,540 4,774 5,009 4,810 4,590 4,202 3,804 3,187 3,386 3,263 3,478 3,608 3,831 4,031 3,943 3,840 3,698 3,381 3,075 2,930 MSI 3 4 2 2 2 2 2 3 2 2 3 2 3 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 Days On Market 63 59 55 51 45 40 44 42 43 43 49 47 51 52 43 41 36 38 37 39 42 43 44 45 48 48 40 35 33 32 33 33 36 37 39 38 3 Mo. Roll Avg 59 55 50 45 43 42 43 43 45 46 49 50 49 45 40 38 37 38 39 41 43 44 46 47 45 41 36 33 33 33 34 35 37 38 Price per Sq Ft 306 311 322 323 328 324 318 323 330 323 326 331 322 329 335 338 347 342 348 347 341 346 344 344 345 347 359 367 370 372 365 371 371 369 384 378 3 Mo. Roll Avg 313 319 324 325 323 322 324 325 326 327 326 327 329 334 340 342 346 346 345 345 344 345 344 345 350 358 365 370 369 369 369 370 375 377 Sale to List Price 0.960 0.970 0.973 0.978 0.979 0.981 0.982 0.979 0.976 0.976 0.971 0.972 0.972 0.977 0.981 0.983 0.986 0.986 0.986 0.981 0.979 0.977 0.976 0.978 0.978 0.984 0.986 0.992 0.992 0.991 0.990 0.988 0.986 0.985 0.984 0.985 3 Mo. Roll Avg 0.968 0.974 0.977 0.979 0.981 0.981 0.979 0.977 0.974 0.973 0.972 0.974 0.977 0.980 0.983 0.985 0.986 0.984 0.982 0.979 0.977 0.977 0.977 0.980 0.983 0.987 0.990 0.992 0.991 0.990 0.988 0.986 0.985 0.985 New Listings 2,319 2,296 2,820 2,817 2,770 2,868 2,934 2,657 2,388 2,213 1,863 1,248 2,298 2,467 2,777 2,727 2,889 3,003 2,872 2,720 2,444 2,034 1,739 1,303 2,331 2,159 2,830 2,697 2,934 2,924 2,675 2,669 2,240 2,221 1,785 1,224 Inventory 4,672 4,589 4,631 4,720 4,841 4,962 5,282 5,276 5,069 4,655 4,342 3,652 3,888 4,048 4,127 4,276 4,540 4,774 5,009 4,810 4,590 4,202 3,804 3,187 3,386 3,263 3,478 3,608 3,831 4,031 3,943 3,840 3,698 3,381 3,075 2,930 Sales 1,354 1,293 1,907 2,067 2,153 2,275 2,358 2,014 2,029 1,881 1,490 1,881 1,387 1,421 1,952 2,029 2,189 2,291 2,111 2,324 2,103 1,938 1,858 1,849 1,508 1,505 2,128 2,041 2,275 2,379 2,127 2,490 2,094 2,018 1,865 1,890 (000's) Avg Sale Price 402 404 417 422 429 423 416 418 424 421 428 439 411 440 441 448 449 440 452 449 440 449 451 454 445 451 477 475 493 491 475 489 498 482 503 491 3 Mo. Roll Avg 407 414 423 425 423 419 419 421 424 429 426 430 430 443 446 446 447 447 447 446 446 451 450 450 458 468 482 486 486 485 487 490 494 492 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

County: Los Angeles Price Range: 0 to 999999999 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 $646,500-1% 10% Average List Price of all Current Listings $1,096,223-2% 8% December Median Sales Price $561,000-1% -1% 8% 8% $559,000 8% 8% December Average Sales Price $734,123 4% 2% 13% 11% $713,786 8% 8% Total Properties Currently for Sale (Inventory) 3,762-11% -13% December Number of Properties Sold 1,954-2% -10% 24,719 0% December Average Days on Market (Solds) 41 3% 8% -11% -5% 39-9% -9% Asking Price per Square Foot (based on New Listings) $441-1% -1% 7% 7% $438 6% 6% December Sold Price per Square Foot $438 1% 1% 10% 10% $425 7% 7% December Month's Supply of Inventory 1.9-9% -8% -4% -30% 2.3-16% -16% December Sale Price vs List Price Ratio 98.6% -0.1% 0% 1% 0.2% 98.9% 0.5% 0.5% * LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date Property Sales December Property sales were 1,954, down -9.7% from 2,165 in December of 2016 and -1.7% lower than the 1,987 sales last month. December 2017 sales were at their lowest level compared to December of 2016 and 2015. December YTD sales of 24,719 are running -0.2% behind last year's year-to-date sales of 24,770. Prices The Median Sales Price in December was $561,000, up 7.9% from $520,000 in December of 2016 and down -0.7% from $565,000 last month. The Average Sales Price in December was $734,123, up 12.6% from $651,870 in December of 2016 and up 3.8% from $707,192 last month. December 2017 ASP was at highest level compared to December of 2016 and 2015.

County: Los Angeles Price Range: 0 to 999999999 Properties: Single Family Home Inventory & MSI The Total Inventory of Properties available for sale as of December was 3,762, down -10.5% from 4,203 last month and down -13.1% from 4,330 in December of last year. December 2017 Inventory was at the lowest level compared to December of 2016 and 2015. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2017 MSI of 1.9 months was at its lowest level compared with December of 2016 and 2015. 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 December was 41, up 2.5% from 40 days last month and down -10.9% from 46 days in December of last year. The December 2017 DOM was at its lowest level compared with December of 2016 and 2015. 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 December 2017 Selling Price per Square Foot of $438 was up 1.4% from $432 last month and up 10.3% from $397 in December of last year.

County: Los Angeles Price Range: 0 to 999999999 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 December 2017 Selling Price vs List Price of 98.6% was down from 98.7% last month and up from 97.5% in December 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 December 2017 was 1391, down -31.8% from 2,039 last month and down -8.1% from 1,514 in December of last year.

County: Los Angeles Price Range: 0 to 999999999 Properties: Single Family Home Homes Sold 1,481 1,343 2,012 2,169 2,278 2,478 2,452 2,224 2,191 2,116 1,582 2,206 1,530 1,454 1,961 2,134 2,240 2,419 2,240 2,321 2,290 2,030 1,986 2,165 1,621 1,437 2,135 1,908 2,301 2,598 2,081 2,443 2,200 2,054 1,987 1,954 3 Mo. Roll Avg 1,612 1,841 2,153 2,308 2,403 2,385 2,289 2,177 1,963 1,968 1,773 1,730 1,648 1,850 2,112 2,264 2,300 2,327 2,284 2,214 2,102 2,060 1,924 1,741 1,731 1,827 2,115 2,269 2,327 2,374 2,241 2,232 2,080 1,998 (000's) MedianSalePrice 450 450 460 478 480 490 490 495 490 495 475 505 480 480 504 512 525 530 530 532 525 531 530 520 532 530 541 545 550 565 575 577 571 563 565 561 3 Mo. Roll Avg 453 463 473 483 487 492 492 493 487 492 487 488 488 499 514 522 528 531 529 529 529 527 527 527 534 538 545 553 563 572 574 570 566 563 Inventory 5,903 5,972 5,830 6,009 6,171 6,506 6,797 6,743 6,666 6,318 5,857 5,016 5,302 5,383 5,384 5,451 5,635 5,907 6,300 6,110 5,866 5,663 5,169 4,330 4,447 4,385 4,551 4,731 4,800 5,108 5,229 5,152 5,012 4,607 4,203 3,762 MSI 4 4 3 3 3 3 3 3 3 3 4 2 3 4 3 3 3 2 3 3 3 3 3 2 3 3 2 2 2 2 3 2 2 2 2 2 Days On Market 55 53 50 46 43 43 41 42 42 46 46 46 50 53 48 42 43 37 38 40 41 41 42 46 49 49 45 41 36 33 34 35 35 38 40 41 3 Mo. Roll Avg 53 50 46 44 42 42 42 43 45 46 47 50 50 48 44 41 39 38 40 41 41 43 46 48 48 45 41 37 34 34 35 36 38 40 Price per Sq Ft 356 358 365 372 376 372 378 381 379 382 375 381 368 376 394 393 398 400 398 410 394 413 401 397 403 392 410 425 424 434 436 425 434 428 432 438 3 Mo. Roll Avg 360 365 371 373 375 377 379 381 379 379 375 375 379 388 395 397 399 403 401 406 403 404 400 397 402 409 420 428 431 432 432 429 431 433 Sale to List Price 0.970 0.979 0.981 0.983 0.990 0.988 0.987 0.986 0.985 0.977 0.981 0.978 0.982 0.979 0.985 0.988 0.988 0.990 0.989 0.989 0.986 0.980 0.980 0.975 0.975 0.980 0.984 0.994 0.995 0.995 0.996 0.994 0.990 0.986 0.987 0.986 3 Mo. Roll Avg 0.977 0.981 0.985 0.987 0.988 0.987 0.986 0.983 0.981 0.979 0.980 0.980 0.982 0.984 0.987 0.989 0.989 0.989 0.988 0.985 0.982 0.978 0.977 0.977 0.980 0.986 0.991 0.995 0.995 0.995 0.993 0.990 0.988 0.986 New Listings 2,871 2,751 3,128 3,262 3,133 3,492 3,467 3,138 2,988 2,815 2,189 1,630 2,613 2,797 3,130 3,098 3,165 3,345 3,257 3,226 2,837 2,753 2,221 1,514 2,435 2,373 3,157 2,999 3,180 3,211 3,096 3,054 2,672 2,480 2,039 1,391 Inventory 5,903 5,972 5,830 6,009 6,171 6,506 6,797 6,743 6,666 6,318 5,857 5,016 5,302 5,383 5,384 5,451 5,635 5,907 6,300 6,110 5,866 5,663 5,169 4,330 4,447 4,385 4,551 4,731 4,800 5,108 5,229 5,152 5,012 4,607 4,203 3,762 Sales 1,481 1,343 2,012 2,169 2,278 2,478 2,452 2,224 2,191 2,116 1,582 2,206 1,530 1,454 1,961 2,134 2,240 2,419 2,240 2,321 2,290 2,030 1,986 2,165 1,621 1,437 2,135 1,908 2,301 2,598 2,081 2,443 2,200 2,054 1,987 1,954 (000's) Avg Sale Price 594 583 595 635 627 643 634 653 625 655 610 632 592 624 655 656 674 677 676 680 647 675 666 652 703 654 688 695 717 740 741 713 733 713 707 734 3 Mo. Roll Avg 591 604 619 635 635 643 637 644 630 632 611 616 624 645 662 669 676 678 668 667 663 664 674 670 682 679 700 717 733 731 729 719 718 718 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