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

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1 MARKET AREA UPDATE Year: 2 Report as of: 1Q 2Q 3Q 4Q Market Area (City, State): Fort Myers/Cape Coral, Florida Provided by (Company / Companies): Provided by RDC Member(s): What are the most significant trends in your current real estate market? (Attach addenda, charts, graphs, etc. as appropriate) *Market Action Reports included Define Market Area: Urban (city limit area only) Metro Area (as defined by MSA) Other: Please explain: * Single Family (detached) **Sales Price (current) Choose one: Average Median $ 323,776 $ 192,56 **Sales Price (same time prior year) Choose one: Average Median $ 298,625 $,99 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 = 45 Closed sales in the past 3 months = 4 RIGHT: 4,/3 (months)=1,333 (sales per month) 4,5/1,333=3.37 months of inventory WRONG: 4,5/4,=1 month of inventory REAL ESTATE MARKET DATA # 67 Increase Decreasing Stable # 6.74 # 6. Absorption Months of Inventory (same time prior year) # 4.84 # 5.14 Condominiums / Townhomes (attached) # 8 Increase Decreasing Stable Active Listings # 3,748 Closed ( total last 3 months) # 1,668 # 1,955 # 977 Expired Listings ( total last 3 months if available) # n/a # n/a Change in Home Values 4. % Increase in past 3 months Stable Decreasing in past 3 months Sold LP/SP Ratio (last 3 months) 94.7% 93.3% -1. % 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: % % 4.9 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.) *Fort Myers experienced the nation s highest decrease in poverty rate, declining 2.92% during the seven-year study period. Fort Myers also earned the nation s top ranking in job growth and median house price growth, along with a ninth-place ranking in population growth. 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 73. Condo/Townhome Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent Apartment Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent 1269.

2 Market Action Report April 2 Price Range: All Properties: Condo - Twn Market Profile & Trends Overview Month LM L3M PYM LY YTD Prior YTD Prior Year Median List Price of all Current Listings $9,75 % % Average List Price of all Current Listings $231,612 % -3% April Median Sales Price $, 2% 2% 3% 6% $6, 4% 4% April Average Sales Price $192,56-1% % 7% 5% $192,967 6% 5% Total Properties Currently for Sale (Inventory) 1,955 3% 11% April Number of Properties Sold % -26% 1,2-4% April Average Days on Market (Solds) 8 3% -2% -8% -7% 82-6% -5% Asking Price per Square Foot (based on New Listings) $145 % 1% 4% 4% $143 2% 3% April Sold Price per Square Foot $139 2% 4% 8% 9% $134 5% 6% April Month's Supply of Inventory % 26% 51% 34% 6.5 6% 12% April Sale Price vs List Price Ratio 93.% -.9% -.3%.6% -.1% 93.3% % % * LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year (2) / YTD = Year-to-date Property Sales April Property sales were 251, down 26.4% from 341 in April of 2 and 43.5% lower than the 444 sales last month. April 2 sales were at their lowest level compared to April of 2 and 2. April YTD sales of 1,2 are running 4.4% behind last year's year-to-date sales of 1,274. Prices The Median Sales Price in April was $,, up 3.% from $5, in April of 2 and up 1.6% from $7,25 last month. The Average Sales Price in April was $192,56, up 6.9% from $,99 in April of 2 and down 1.2% from $194,839 last month. April 2 ASP was at the highest level compared to April of 2 and Number of Properties Sold Median Sales Price and Average Sales Price Inventory & MSI The Total Inventory of Properties available for sale as of April was 1,955, up 2.7% from 1,93 last month and up 11.% from 1,761 in April of last year. April 2 Inventory was at its highest level compared with April of 2 and 2. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2 MSI of 7.8 months was at its highest level compared with April of 2 and 2. 2,5 2, 1,5 1, 5 Total Inventory & Month's Supply of Inventory (MSI) 1,291 1,225 1,138 1,12 1,9 1,9 1,234 1,251 1,496 1,655 1,76 1,645 1,559 1,5 1,462 1,452 1,454 1,5 1,586 1,636 1,8 1,91 1,869 1,761 1,7 1,611 1,5 1,424 1,43 1,483 1,557 1,612 1,793 1,836 1,93 1, Copyright Price Range: All Property Types: Condo - Twn

3 Market Action Report April 2 Price Range: All Properties: Condo - Twn 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 April was 8, up 2.6% from 78 days last month and down 8.% from 87 days in April of last year. The April 2 DOM was at a mid level compared with April of 2 and 2. The 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 April 2 of $139 was up 2.4% from $136 last month and up 8.5% from 128 in April of last year. Selling Price vs Original Listings Price The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 1% the more of a Buyer's market exists, a ratio at or above 1% indicates more of a Seller's market. The April 2 Selling Price vs Original List Price of 93.% was down from 93.8% last month and up from 92.4% in April of last year. 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 April 2 was 341, down 35.2% from 526 last month and down 22.7% from 441 in April of last year % 92% 92% 91% 91% 2,5 2, 1,5 1, Days On Market for Sold Properties Selling Price versus Listing Price Ratio Avg Selling Price divided by Avg Listing Price for sold properties during the month 93.5% 1,291 1,225 1,138 1,12 1,9 1,9 1,234 1,251 1,496 1,655 1,76 1,645 1,559 1,5 1,462 1,452 1,454 1,5 1,586 1,636 1,8 1,91 1,869 1,761 1,7 1,611 1,5 1,424 1,43 1,483 1,557 1,612 1,793 1,836 1,93 1, % % Copyright Price Range: All Property Types: Condo - Twn

4 Inventory / Listings / Sales April 2 Price Range: All Properties: Condo - Twn 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 April 2 was 341, down 35.2% from 526 last month and down 22.7% from 441 in April of last year. 2,5 Inventory New Listings Sales 2, ,291 1,225 1,138 1,12 1,9 1,9 1,234 1,251 1,496 1,655 1,76 1,645 1,559 1,5 1,462 1,452 1,454 1,5 1,586 1,636 1,8 1,91 1,869 1,761 1,7 1,611 1,5 1,424 1,43 1,483 1,557 1,612 1,793 1,836 1,93 1,955 1,5 1, 5 M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A Copyright Price Range: All Property Types: Condo - Twn

5 Market Action Report April 2 Price Range: All Properties: S Market Profile & Trends Overview Month LM L3M PYM LY YTD Prior YTD Prior Year Median List Price of all Current Listings $31,75-3% -4% Average List Price of all Current Listings $412,427-3% -4% April Median Sales Price $265,75 1% 3% 6% 1% $257,5 6% 6% April Average Sales Price $323,776 6% 5% 8% 11% $37,2 5% 6% Total Properties Currently for Sale (Inventory) 3,748 5% 23% April Number of Properties Sold 51-25% -24% 2,9-8% April Average Days on Market (Solds) 67-4% -4% -7% -12% 7-9% -8% Asking Price per Square Foot (based on New Listings) $5-3% -3% 2% % $ 3% 3% April Sold Price per Square Foot $ 4% 3% 5% 7% $5 3% 4% April Month's Supply of Inventory % 12% 62% 43% % 27% April Sale Price vs List Price Ratio 94.4% -.3% -.2%.1% -.% 94.6% % % * LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year (2) / YTD = Year-to-date Property Sales April Property sales were 51, down 24.% from 671 in April of 2 and 24.6% lower than the 676 sales last month. April 2 sales were at their lowest level compared to April of 2 and 2. April YTD sales of 2,9 are running 7.7% behind last year's year-to-date sales of 2,34. Prices The Median Sales Price in April was $265,75, up 6.3% from $249,9 in April of 2 and up 1.2% from $262,5 last month. The Average Sales Price in April was $323,776, up 8.4% from $298,625 in April of 2 and up 6.3% from $34,659 last month. April 2 ASP was at the highest level compared to April of 2 and Number of Properties Sold Median Sales Price and Average Sales Price Inventory & MSI The Total Inventory of Properties available for sale as of April was 3,748, up 5.% from 3,568 last month and up 23.1% from 3,44 in April of last year. April 2 Inventory was at its highest level compared with April of 2 and 2. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2 MSI of 7.3 months was at its highest level compared with April of 2 and 2. 4, 3,5 3, 2,5 2, 1,5 1, 5 Total Inventory & Month's Supply of Inventory (MSI) 2,731 2,557 2,473 2,368 2,371 2,52 2,74 2,751 3,1 3,331 3,262 3,125 2,946 2,778 2,696 2,64 2,67 2,782 2,928 2,899 3,22 3,351 3,258 3,44 2,871 2,725 2,561 2,55 2,475 2,66 2,8 2,81 3,144 3,392 3,568 3, Copyright Price Range: All Property Types: S

6 Market Action Report April 2 Price Range: All Properties: S 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 April was 67, down 4.3% from 7 days last month and down 6.9% from 72 days in April of last year. The April 2 DOM was at its lowest level compared with April of 2 and 2. The 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 April 2 of $ was up 3.9% from $4 last month and up 5.4% from 2 in April of last year. Selling Price vs Original Listings Price The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 1% the more of a Buyer's market exists, a ratio at or above 1% indicates more of a Seller's market. The April 2 Selling Price vs Original List Price of 94.4% was down from 94.7% last month and up from 94.3% in April of last year. 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 April 2 was 684, down 33.7% from 1,31 last month and down.% from 814 in April of last year. Copyright Price Range: All Property Types: S Days On Market for Sold Properties Selling Price versus Listing Price Ratio % 96% 96% 4, 3,5 3, 2,5 2, 1,5 1, 5 M 67 J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A 14 Avg Selling Price divided by Avg Listing Price for sold properties during the month 94.7% 2,731 2,557 2,473 2,368 2,371 2,52 2,74 2,751 3,1 3,331 3,262 3,125 2,946 2,778 2,696 2,64 2,67 2,782 2,928 2,899 3,22 3,351 3,258 3,44 2,871 2,725 2,561 2,55 2,475 2,66 2,8 2,81 3,144 3,392 3,568 3, % %

7 Inventory / Listings / Sales April 2 Price Range: All Properties: S 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 April 2 was 684, down 33.7% from 1,31 last month and down.% from 814 in April of last year. 4, Inventory New Listings Sales ,2 1,113 1, ,192 1, ,281 1,124 1, ,731 2,557 2,473 2,368 2,371 2,52 2,74 2,751 3,1 3,331 3,262 3,125 2,946 2,778 2,696 2,64 2,67 2,782 2,928 2,899 3,22 3,351 3,258 3,44 2,871 2,725 2,561 2,55 2,475 2,66 2,8 2,81 3,144 3,392 3,568 3,748 3,5 3, 2,5 2, 1,5 1, 5 M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A Copyright Price Range: All Property Types: S