Northern Virginia Market Absorption Rates for August

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<ul><li>1.Market Absorption Virginia</li></ul> <p>2. Local Market Update August 2011 Source: MRIS, Inc.; Northern Virginia is comprised of the Counties of Arlington and Fairfax; and the Cities of Alexandria, Fairfax &amp; Falls Church .September 16, 2011 Northern Virginia Available UC Abs Rate &lt; $100,000 22 15 1.46 $100,000$199,999 220 124 1.77 $200,000-$299,999 591 233 2.53 $300,000-$399,999 815 222 3.67 $400,000-$499,999 681 169 4.04 $500,000-$599,999 617 108 5.71 $600,000-$699,999 401 83 4.83 3. Local Market Update August 2011 Absorption Rate = the number of active listings/by the number of homes marked under contract in the past 30 days. The absorption rate is the number of months it would take to deplete the inventory.September 16, 2011 Northern Virginia Available UC Abs Rate $700,000-$799,999 347 69 5.02 $800,000-$899,999 194 31 6.25 $900,000-$999,999 139 16 8.68 $1M -$1.49M 391 36 10.86 $1.5M -2.49 245 15 16.33 $2.5 million + 137 7 19.57 Overall 4,800 1,128 4.25 4. No VA Stats Avg. SP-+1.13% Units Sold--.59% DOM-+7.69 %to 56 days Source: MRIS, Inc. September 16 , 2011 5. Local Market Update August 2011 Source: MRIS, Inc. September 16 , 2011 PW &amp; Loudoun Available UC Abs Rate &lt; $100,000 17 13 1.30 $100,000$199,999 237 178 1.33 $200,000-$299,999 566 257 2.20 $300,000-$399,999 632 169 3.73 $400,000-$499,999 560 87 6.43 $500,000-$599,999 438 42 10.42 $600,000-$699,999 246 21 11.71 6. Local Market Update August 2011 Absorption Rate = the number of active listings/by the number of homes marked under contract in the past 30 days. The absorption rate is the number of months it would take to deplete the inventory. September16 , 2011 PW &amp; Loudoun Available UC Abs Rate $700,000-$799,999 136 12 11.33 $800,000-$899,999 84 6 14.00 $900,000-$999,999 62 2 31.00 $1M -$1.49M 97 4 24.25 $1.5M -2.49 50 0 0 $2.5 million + 36 0 0 Overall 3,161 791 3.99 7. Local Market Update SELLERS MARKET No. VA Current Aug 2010 Var Available 4,802 5,156 -7% UC Last 30 Days 1,128 1,441 -22% Sold Last 30 Days 1,727 1,695 +2% Absorption Rate 4.25 3.57 As of September 16, 2011 8. Local Market Update SELLERS MARKET Fairfax Co. Current Aug 2010 Var Available 3,518 3,675 -4% UC Last 30 Days 842 1,082 -22% Sold Last 30 Days 1,276 1,274 +.1% Absorption Rate 4.18 3.39 As ofSeptember 16, 2011 9. Fairfax Co. Stats Avg. SP-+2.19% Units Sold--2.28% DOM-+1.96%to 52 days Source: MRIS, Inc. September 16 , 2011 10. Local Market Update SELLERS MARKET Alexandria City Current Aug 2010 Var Available 523 645 -19% UC Last 30 Days 118 130 -9% Sold Last 30 Days 168 153 +10% Absorption Rate 4.43 4.96 As of September 16, 2011 11. Local Market Update SELLERS MARKET Arlington Co. Current Aug 2010 Var Available 650 718 -9% UC Last 30 Days 142 198 -28% Sold Last 30 Days 235 233 +1% Absorption Rate 4.57 3.62 As of September 16, 2011 12. Local Market Update SELLERS MARKET Fairfax Current Aug 2010 Var Available 469 507 -7% UC Last 30 Days 108 132 -18% Sold Last 30 Days 195 170 +15% Absorption Rate 4.34 3.84 As of September 16, 2011 13. Local Market Update Fairfax Station Current Aug 2010 Var Available 88 67 +31% UC Last 30 Days 7 10 -30% Sold Last 30 Days 27 16 +69% Absorption Rate 12.57 6.7 As of September 16, 2011 14. Local Market Update Clifton Current Aug 2010 Var Available 85 67 +27% UC Last 30 Days 17 15 +13% Sold Last 30 Days 12 22 -45% Absorption Rate 5.00 4.46 As of September 16, 2011 15. Local Market Update SELLERS MARKET Herndon Current Aug 2010 Var Available 163 167 -2% UC Last 30 Days 58 66 -12% Sold Last 30 Days 83 84 -1% Absorption Rate 2.81 2.53 As of September 16, 2011 16. Local Market Update Sterling Current Aug 2010 Var Available 204 260 -22% UC Last 30 Days 85 107 -21% Sold Last 30 Days 88 108 -19% Absorption Rate 2.40 2.42 As of September 16, 2011 SELLERS MARKET 17. Local Market Update Vienna/ Oakton Current Aug 2010 Var Available 315 332 -5% UC Last 30 Days 59 85 -31% Sold Last 30 Days 117 100 +17% Absorption Rate 5.33 3.90 As of September 16, 2011 18. Local Market Update Ashburn Current Aug 2010 Var Available 346 321 +8% UC Last 30 Days 63 108 -42% Sold Last 30 Days 157 130 +21% Absorption Rate 5.49 2.97 As of September 16, 2011 19. Local Market Update Reston Current Aug 2010 Var Available 182 234 -22% UC Last 30 Days 65 88 -26% Sold Last 30 Days 73 101 -28% Absorption Rate 2.80 2.66 As of September 16, 2011 SELLERS MARKET 20. Local Market Update Centreville Current Aug 2010 Var Available 174 193 -10% UC Last 30 Days 80 91 -12% Sold Last 30 Days 88 86 +2% Absorption Rate 2.17 2.12 As of September 16, 2011 SELLERS MARKET 21. Local Market Update DC Current Aug 2010 Var Available 2,209 2,543 -13% UC Last 30 Days 380 506 -24% Sold Last 30 Days 582 543 +7% Absorption Rate 5.81 5.02 As of September 16, 2011 22. Local Market Update Prince William Current Aug 2010 Var Available 1,530 1,607 -3% UC Last 30 Days 493 505 -5% Sold Last 30 Days 518 587 -1% Absorption Rate 3.10 2.74 As of September 16, 2011 SELLERS MARKET 23. Local Market Update Loudoun Co. Current Aug 2010 Var Available 1,635 1,662 -2% UC Last 30 Days 298 410 -27% Sold Last 30 Days 483 439 +10% Absorption Rate 5.48 4.05 As of September 16, 2011 24. Local Market Update **Includes Faquier, Culpeper, Orange, Madison and Rappahannock Counties GPAAR Current Aug 2010 Var Available 1,546 1,396 +11% UC Last 30 Days 152 203 -25% Sold Last 30 Days 181 164 +10% Absorption Rate 10.17 6.88 As of September 16, 2011 25. Local Market Update **Includes Clarke, Frederick, Warren Counties &amp; Winchester City BRAR Current Aug 2010 Var Available 1,168 1,421 -18% UC Last 30 Days 140 184 -24% Sold Last 30 Days 191 204 -6% Absorption Rate 8.34 7.72 As of September 16, 2011 26. Local Market Update **Includes Fredericksburg City, Stafford, Spotsylvania, King George and Caroline Counties FAAR Current Aug 2010 Var Available 1,670 2,119 -21% UC Last 30 Days 341 389 -12% Sold Last 30 Days 362 365 -1% Absorption Rate 4.90 5.44 As of September 16, 2011 SELLERS MARKET </p>