MLSListings Inc Confidential Copyright 2015 11

Single Family Market Outlook – Santa Cruz County Mar ’14 vs. Mar ’15

MLSListings Inc Confidential Copyright 2015 22

Condo/Townhouse Market Outlook – Santa Cruz CountyMar ’14 vs. Mar ’15

MLSListings Inc Confidential Copyright 2015 33

Inventory, Closed Sales, New Listings – Santa Cruz CountyJan ’03 – Mar ’15

MLSListings Inc Confidential Copyright 2015 44

Inventory Trends – Santa Cruz CountyJan ’03 – Mar ’15

MLSListings Inc Confidential Copyright 2015 55

Inventory Trends - Santa Cruz CountyJan ’98 – Mar ’15

MLSListings Inc Confidential Copyright 2015 66

Closed Sale Trends – Santa Cruz CountyJan ’03 – Mar ’15

MLSListings Inc Confidential Copyright 2015 77

Closed Sale Trends – Santa Cruz CountyJan ’98 – Mar ’15

MLSListings Inc Confidential Copyright 2015 88

Median Price Trends – Santa Cruz CountyJan ’98 – Mar ’15

MLSListings Inc Confidential Copyright 2015 99

Average Price Trends – Santa Cruz CountyJan ’98 – Mar ’15

MLSListings Inc Confidential Copyright 2015 1010

Average and Median Price Trends – Santa Cruz CountyJan ’98 – Mar ’15

MLSListings Inc Confidential Copyright 2015 1111

% Sale Price vs. List Price – Santa Cruz CountyJan ’03 – Mar ’15

MLSListings Inc Confidential Copyright 2015 1212

Months of Inventory – Santa Cruz County Mar ’03 – Mar ’15 (Rolling Three Month Average)

MLSListings Inc Confidential Copyright 2015 1313

Single Family Days On Market – Santa Cruz CountyJan ’98 – Mar ’15

MLSListings Inc Confidential Copyright 2015 1414

Condo/Townhouse Days On Market – Santa Cruz County Jan ’98 – Mar ’15