Market Absorptio

nNorthern Virginia

& DC

Local Market UpdateDecember 2013

Northern Virginia Available UC Abs Rate

< $100,000 21 2 10.50

$100,000–$199,999 129 70 1.84

$200,000-$299,999 317 136 2.33

$300,000-$399,999 284 175 1.62

$400,000-$499,999 294 186 1.58$500,000-$599,999 237 114 2.08$600,000-$699,999 173 86 2.01

Source: MRIS, Inc.; Northern Virginia is comprised of the Counties of Arlington and Fairfax; and the Cities of

Alexandria, Fairfax & Falls Church. January 27, 2014

Local Market UpdateDecember 2013

Northern Virginia Available UC Abs Rate

$700,000-$799,999 174 46 3.78

$800,000-$899,999 138 36 3.83

$900,000-$999,999 88 26 3.38

$1M -$1.49M 244 51 4.78

$1.5M -2.49 184 15 12.27$2.5 million + 127 11 11.55Overall 2,410 954 2.53

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. January 27, 2014

No VA Stats

Avg. SP- +6.38%

Units Sold- +10.88%

DOM- -3.70% to 52 days

Source: MRIS, Inc. January 27, 2104

Local Market UpdateDecember 2013

PW & Loudoun Available UC Abs Rate

< $100,000 4 2 2.00

$100,000–$199,999 69 59 1.17

$200,000-$299,999 377 168 2.24

$300,000-$399,999 432 177 2.44

$400,000-$499,999 333 135 2.47$500,000-$599,999 252 75 3.36$600,000-$699,999 250 37 6.67

Source: MRIS, Inc. January 27, 2014

Local Market UpdateDecember 2013

PW & Loudoun Available UC Abs Rate

$700,000-$799,999 166 22 7.55

$800,000-$899,999 79 6 13.17

$900,000-$999,999 41 5 8.20

$1M -$1.49M 57 3 19.00

$1.5M -2.49 36 0 0$2.5 million + 29 1 29.00Overall 2,125 690 3.08

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. January 27, 2014

Local Market Update

No. VA Current Dec 2012 VarAvailable 2,407 2,068 +16%

UC Last 30 Days 954 1,096 -13%

Sold Last 30 Days 1,467 1,389 +6%

Absorption Rate 2.52 1.89As of January 27, 2014

SELLERS

MARKET

Local Market Update

Fairfax Co. Current Dec 2012 VarAvailable 1,652 1,467 +13%

UC Last 30 Days 704 795 -11%

Sold Last 30 Days 1,029 1,007 +2%

Absorption Rate 2.35 1.85As of January 27, 2014

SELLERS

MARKET

Fairfax Co. Stats

Avg. SP- +7.91%

Units Sold- +12.06%

DOM- -12.07% to 51 days

Source: MRIS, Inc. January 27, 2014

Local Market Update

Alexandria City Current Dec 2012 VarAvailable 371 271 +37%

UC Last 30 Days 106 131 -19%

Sold Last 30 Days 183 165 +11%

Absorption Rate 3.50 2.07As of January 27, 2014

SELLERS

MARKET

Local Market Update

Arlington Co. Current Dec 2012 VarAvailable 331 274 +21%

UC Last 30 Days 119 135 -12%

Sold Last 30 Days 219 180 +22%

Absorption Rate 2.78 2.03As of January 27, 2014

SELLERS

MARKET

Local Market Update

Fairfax Current Dec 2012 VarAvailable 174 129 +35%

UC Last 30 Days 100 115 -13%

Sold Last 30 Days 135 101 +34%

Absorption Rate 1.74 1.12As of January 27, 2014

SELLERS

MARKET

Local Market UpdateFairfax Station Current Dec 2012 Var

Available 48 38 +26%

UC Last 30 Days 7 6 +17%

Sold Last 30 Days 12 17 -29%

Absorption Rate 6.86 6.33As of January 27, 2014

Local Market Update

Clifton Current Dec 2012 VarAvailable 36 39 -8%

UC Last 30 Days 11 19 -42%

Sold Last 30 Days 21 10 +110%

Absorption Rate 3.27 2.05As of January 27, 2014

SELLERS

MARKET

Local Market Update

Herndon Current Dec 2012 VarAvailable 92 57 +61%

UC Last 30 Days 36 50 -28%

Sold Last 30 Days 57 63 -10%

Absorption Rate 2.56 1.14As of January 27, 2012

SELLERS

MARKET

Local Market UpdateSterling Current Dec 2012 Var

Available 104 70 +49%

UC Last 30 Days 72 65 +11%

Sold Last 30 Days 113 85 +33%

Absorption Rate 1.44 .98As of January 27, 2014

SELLERS

MARKET

Local Market UpdateVienna/ Oakton Current Dec 2012 Var

Available 155 161 -4%

UC Last 30 Days 55 64 -14%

Sold Last 30 Days 82 83 -1%

Absorption Rate 2.82 2.52As of January 27, 2012

SELLERS

MARKET

Local Market UpdateAshburn Current Dec 2012 Var

Available 270 202 +34%

UC Last 30 Days 94 148 -36%

Sold Last 30 Days 166 143 +16%

Absorption Rate 2.87 1.36As of January 27, 2012

SELLERS

MARKET

Local Market Update

Reston Current Dec 2012 VarAvailable 80 60 +33%

UC Last 30 Days 48 51 -6%

Sold Last 30 Days 79 66 +20%

Absorption Rate 1.67 1.18As of January 27, 2012

SELLERS

MARKET

Local Market UpdateCentreville Current Dec 2012 Var

Available 88 61 +44%

UC Last 30 Days 52 58 -10%

Sold Last 30 Days 71 63 +13%

Absorption Rate 1.69 1.05As of January 27, 2014

SELLERS

MARKET

Local Market UpdateDC Current Dec 2012 Var

Available 1,049 1,003 +5%

UC Last 30 Days 471 486 -3%

Sold Last 30 Days 697 568 +23%

Absorption Rate 2.23 2.06As of January 27, 2014

SELLERS

MARKET

Local Market Update

Prince William Current Dec 2012 VarAvailable 1,000 839 +19%

UC Last 30 Days 359 426 -16%

Sold Last 30 Days 445 426 +4%

Absorption Rate 2.79 1.97As of January 27, 2014

SELLERS

MARKET

Local Market Update

Loudoun Co. Current Dec 2012 VarAvailable 1,123 1,022 +10%

UC Last 30 Days 331 407 -19%

Sold Last 30 Days 544 459 +19%

Absorption Rate 3.39 2.51As of January 27, 2014

SELLERS

MARKET

Local Market Update

GPAAR Current Dec 2012 VarAvailable 956 1,081 -11%

UC Last 30 Days 117 141 -17%

Sold Last 30 Days 190 141 +35%

Absorption Rate 8.17 7.67As of January 27, 2014

**Includes Faquier, Culpeper, Orange, Madison and Rappahannock Counties

Local Market Update

BRAR Current Dec 2012 VarAvailable 976 797 +22%

UC Last 30 Days 128 149 -14%

Sold Last 30 Days 180 152 +18%

Absorption Rate 7.63 5.35As of January 27, 2014

**Includes Clarke, Frederick, Warren Counties & Winchester City

Local Market Update

FAAR Current Dec 2012 VarAvailable 1,586 1,289 +23%

UC Last 30 Days 252 284 -11%

Sold Last 30 Days 352 304 +16%

Absorption Rate 6.29 4.54As of January 27, 2014

**Includes Fredericksburg City, Stafford, Spotsylvania, King George and Caroline Counties