2014_q1_market_report.pdf

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					 2014 Quarter one real estate

Market report
                  Western north Carolina




Table of Contents
pp 2-3    executive Summary
p4        Mortgage review
p5        Glossary of terms
pp 6-15   County Specific Market Review
p 16      New Home Communities
p 17      Commercial Market Review
p 18      Residential Lots review
p 19      Large acreage review




beverly-hanks.com
                                                                                                                                                                                              The regiOn’s                         94%               $178                5,278                   35%                 18%
                                                                                                                                                                                               VItaL sIgns
                                                                                                                                                                                                                                                           (,500)




                                                                          helping                                                                                                                Comparison
                                                                                                                                                                                              2013 Q1 to 2014 Q1
                                                                                                                                                                                                                                    2013-94%
                                                                                                                                                                                                                                   LiSt/SeLL
                                                                                                                                                                                                                                     ratio
                                                                                                                                                                                                                                                     2013-$170,000
                                                                                                                                                                                                                                                     MediaN
                                                                                                                                                                                                                                                    SaLeS priCe
                                                                                                                                                                                                                                                                           2013-6,096
                                                                                                                                                                                                                                                                           SuppLy
                                                                                                                                                                                                                                                                                                  2013-35%
                                                                                                                                                                                                                                                                                               CaSH SaLeS
                                                                                                                                                                                                                                                                                                                         2013-23%
                                                                                                                                                                                                                                                                                                                    diStreSSed
                                                                                                                                                                                                                                                                                                                       SaLeS
                                                                          clients find and live the life they choose.
                                                                                                                                                                                                   First single family residence
                                                                          The mainstream media is a bit confused about what’s                                                                       sale over $1M since 2009
                                                                          taking place in the housing markets. Recent headlines have
                                                                          become pretty soft on housing after reporting month-over-
                                                                          month pending home sales for March. What the media
                                                                          isn’t taking into consideration is that we’re going through                                                        Time on market has dropped by
                                                                          a typical cycle that included a pretty harsh winter. They’re                                                           one month since 2012
                                                                          citing increasing interest rates for the softening. If rates                                                                                                                                                   10 out of 11 price tiers have
      “as of this January, 85% of                                         were indeed responsible, all regions would be experiencing                                                                                                                                                    reduced months of inventory
      the region’s sales were non-                                        similar trends. Colleagues in California, Nevada, and
                                                                          Washington are reporting fewer houses sold not because of
      distressed. the declining
                                                                          rates, but limited supply. Essentially rates have gone from
      percentage of distressed
                                                                          dirt cheap to cheap. “I think we will see a gradual rise of                                                                                                                                                          1:2 sales were cash transactions
      properties is further evidence                                      about a half a percentage point to 5 percent in 2014,” says
      of the markets stabilizing.”                                        Frank Nothaft, chief economist at Freddie Mac. But even
             neal hanks Jr., president                                    then, he said, “Most markets will remain quite affordable.”

                                                                                                                                                                                                          Only county to
                                                                                                                                                                                                     experience an increase
      Job             grOwTh                                               by Tom Tveidt of SYNEVA Economics
                                                                                                                                                                                                     in the average months
                                                                                                                                                                                                           of inventory


 First quarter nets 5,000 new jobs                                         asheville third fastest growth out of 13 metros
 Asheville added nearly 5,000 net new jobs in the first                                Wilmington                                                                                4.3%
 quarter of 2014, an average growth rate of 2.9 percent.                              Raleigh‐Cary                                                                        3.6%
                                                                                                                                                                                                                                                                                  68% of sales
 Among the state’s 14 metros, Asheville is the third fastest                             Asheville                                                            2.9%                                                                                                               occurred under
 growing and is currently outpacing both the statewide                                    Charlotte                                                    2.6%                                                                                                                        $200,000
 and national growth rates.                                                                                                                                                                                                                    +8% increase in median
                                                                                        Goldsboro                                               2.2%
                                                                                                                                                                                                                                                     sales price
 Growth is being led by three major industry sectors,                                   Greenville                                       2.0%

 each up by more than 1,000 net new jobs in the quarter.                        Durham‐Chapel Hill                                       1.9%

 Professional & Business Services, Leisure & Hospitality                                   Hickory                               1.0%

 Services, and Health Services are not only the main job                     Greensboro‐High Point                        0.2%

 creators, but each is breaking all-time employment totals.                          Rocky Mount


                                                                                                                                                                                                     InsIghts
                                                                                                                          0.2%

 The first quarter finds each employing more workers than                           Winston‐Salem                     0.0%                 National & Statewide
 ever before in Asheville.                                                             Fayetteville          ‐0.2%
                                                                                                                                           Growth Rate of 1.7%

                                                                                        Burlington                                                                                                   Distressed sales now make up a much smaller percentage     While total sales have in fact decreased, if we look at just
 asheville continues to attract new residents
                                                                                                            ‐0.2%

                                                                                       Jacksonville         ‐0.6%                                                                                    of overall sales. If we go back to January 2012, we can    the percentage of non-distressed sales, the number has
 Recently released information on population growth                                                                                                                                                  see that the percentage of distressed sales was over 23    increased. As properties are absorbed under normalized
                                                                                                      ‐1%            0%             1%          2%                   3%          4%     5%
 from the Census Bureau confirms Asheville’s continuing                                                                                                                                              percent for the seven-county region, and now it sits at    conditions we expect further value improvement
 attraction of new residents from other U.S. locations. Of                  source: nC employment security Commission
                                                                                                                                                                                                     close to 15 percent. What’s important to realize is that   alongside a steady sale pace.
 5,390 new residents between 2012 and 2013, 92 percent                                                                                                                                               the 2012 and 2013 sales numbers were propped up by
 were due to domestic in-migration, while new residents                                                                                                                                              investors purchasing multiple properties at a discount.
 from non-U.S. international locations accounted for                       increased in every year since 1970, driven largely by attracting
 the remaining 8 percent. Population in the metro has                      new residents from other U.S. cities and towns.



                            Information throughout this report is derived from Buncombe, Henderson, Haywood, Madison, Rutherford, Polk, and Transylvania
2 2014 Quarter One          counties real estate markets. Information as reported by the NC Mountains Multiple Listing Service, which does not guarantee or is in
                            any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market.
mOrTgage                                6.7%             235                 82.3                       16         1.23
VItaL sIgns                                                     (Feb.)                                  (,323)            (Feb.)


                                         2013-7.5%        2013-230            2013-59.7            2013-14,578       2013-1.48             glOssary Of
                                                                                                                                            teRms
   Comparison                         uNeMpLoyMeNt CoNSuMer               CoNSuMer               doW JoNeS FirSt MortGaGe
2013 Q1 to 2014 Q1                        rate     priCe iNdex            CoNFideNCe               iNdex    deFauLt iNdex




economy contInues to ImpRoVe, InteRest Rates hoLd steady                                                                                   Median               A means of tracking property where one-half of closed sales prices are higher and one-half lower. This statistic
                                                                                                                                           sales Price          is less at risk of being influenced by properties on either extreme end of the pricing spectrum.
You’ve heard the old saying,            7.0
                                                                                      4.75                                                 supply               Represents the total number of properties of a certain type in a specific geography. Unless otherwise noted,
“The more things change, the
more they stay the same.” This                                                                                                     4.34%                        this number includes all types of residential properties reported by the Multiple Listing Service.
is true in the mortgage world as        6.5
well. The Consumer Finance                                                            4.00                                                 Distressed           Tracks the percentage of sales that are either in foreclosure, short sale or represent real estate owned by
Protection Bureau announced an                                                                                                             sales                institutions over the last quarter.
initiative to further enhance the
                                        6.0
sustainability of homeownership                                                                                                            Cash sales           The percentage of properties being sold without any type of mortgage financing at the point of property
                                                                                      3.25
through better access to formal                                                                                                                                 transfer.
                                        5.5                                                  Jan-2012                    Mar-2014Q1
homeownership          counseling.
Sustainable        homeownership                                                                                                                16%             supply Pie Graph describes the number of individual properties on the market on a specific date in a given
                                        5.0                                                                                                                     geography across each price range.
                                                                                                                                               Year-over-year



has always been a fundamental
belief for us, and will continue to
be a driving passion behind our                                                                                                                                 sales Pace/Days on Market Graph tracks the average days on market for the county by the average number
efforts each day.                       4.5                                                                                                                     of properties selling per month. When the two metrics are considered together the trend lines can indicate
                                                                                                                                                                changes in the market. Trend lines opposite one another indicate a recovering/accelerating market and lines
The 30-year fixed rate fluctuated                                                                                                                               moving closer indicate a slowing market.
between 4.125% and 4.75%              4.0
during the first quarter. The                                                                                                                                   Closings by Price Bracket looks at the distribution of sales across the price brackets during the period.
March jobs report was much                                                                                                                                      It is useful for quickly analyzing which price categories for properties are more commonly sold in a given
improved from the January and         3.5
                                                                                                                                                                geography.
February reports, which is a
sign of an improving economy.                Jan-05                                                                     Mar-14Q1
                                      3.0                                                                                                                       Months of inventory (Moi) is a calculation used by the real estate industry to describe the relationship of
Typically with an improving
economy, rates increase as                                                                                                                                      sales pace and the number of properties currently on the market if no additional homes were added to the
investment funds are diverted away from bonds to higher yields. If you’re considering a purchase, this bears close watching. Please                             supply. It is calculated by determining the number of homes sold per month and dividing by the total number
call us if you’d like assistance monitoring interest rate changes through the year.                                                                             of properties for sale on the last day of the month. It is susceptible to changes in supply and/or pace.

                                                                                                                                                  $             home Values ($) is used to indicate whether a market is favoring buyers or sellers. Generally zero to six
                                                                                                                                                                months of inventory indicate increasing sales prices, six to 12 months indicate a stable market and if the

                hOusehOld                                                                                                                                       market exceeds 12 months, prices are falling.


                FInancIaL tIp                                                                                                                                   odds of selling is determined by comparing the number of properties selling per month and dividing by the
                                                                                                                                                                number of available properties in a given price range. The percentage is then turned into a ratio of “x” out of
                                                                                                                                                                100. In this form it describes the likelihood that a property will sell in a 30-day period.

                                                                                                                                                                list/sell ratio compares the final sales price against the most recent list price prior to the property going
                                                                                                                                                                under contract. The ratio can be used to compare buyers’ and sellers’ opinion of value.


                                                                                                                                                                Days on Market is the average amount of time it takes to market and close on a property. This is useful for
                                                                                                                                                                monitoring whether a market is accelerating or decelerating.
  For many homeowners, budgeting for home repairs and upkeep
  can be challenging. So what’s a good rule of thumb? Housing                                                                                                   Market indicators describe the trend direction when compared with the previous period for each metric for
  counselors, such as those found at OnTrack Financial in Western                                       S E RV I C E S                                          which they are provided.
  NC, suggest budgeting 1% to 2% of your home’s value per year
                                                                                                          nMls# 42020
  for home maintenance.
                                                                                                                                           For assistance with these and any other real estate questions contact your Beverly-Hanks associate or go to beverly-hanks.com.

4 2014 Quarter One
                                                                                            $193
  BunCOmBe                                         95%                                                                                    1,738                                                   30%                               15%
                                                             2013-94%                                       2013-$186,750                                        2013-2,142                               2013-32%                              2013-22%

                                                                                                   (,000)



  VItaL sIgns                                      LiSt/SeLL ratio                          MediaN SaLeS priCe                                      SuppLy                                        CaSH SaLeS                       diStreSSed SaLeS



                                                                                                                               snapshot                                     by          pRIce bRacket                               2013 Q1 to 2014 Q1


                                                                                                                                                                                                  $0-$99,000                  $100,000-$199,000
  home suppLy                                                           106 $0-$99K
                                                                                                                                                                                                         3.4                                 5.6




                                                                                                                              Legend
  Homes available for sale
                                                                        454 $100K-$199K              66 $600K-$699K                     odds of
                                                                                                                                        selling
                                                                                                                                                    Months of
                                                                                                                                                    inventory
                                                                                                                                                                       Market trend
                                                                                                                                                                       indicators
                                                                                                                                                                                         30:100
                                                                                                                                                                                                                 5.1
                                                                                                                                                                                                                       $   18:100
                                                                                                                                                                                                                                                    7.3
                                                                                                                                                                                                                                                            $
                                                                                                                                                                                                         2014   2013                         2014   2013
                                                                                                     45 $700K-$799K
                                           -19%                         368 $200K-$299K
                                                                                                                                          $                                              92%        94          155        95%         245          146
                                                                        262 $300K-$399K              41 $800K-$899K
                                                                                                                                         home       list/sell     sold        Days on
                                         2012 Q3 : 2013 Q3                                                                               Values     ratio         homes       Market
                                          Year-over-year
                                                                        124 $400K-$499K              35 $900K-$999K                    For an explanation of terms refer to page 5.


                                                                        81 $500K-$599K               156 >$1M
                                                                                                                                          $200,000-$299,000
                                                                                                                                                    $0k-$99K                                $300,000-$399,000
                                                                                                                                                                                                      $0k-$99K                $400,000-$499,000
                                                                                                                                                                                                                                         $0k-$99K

                                                                            153 of units currently available in price range
                                                                            X= Number
                                                                                                                                                                7.8
                                                                                                                                                                          8.9
                                                                                                                                                                                  $
                                                                                                                                                                                                         9.6
                                                                                                                                                                                                                10.0
                                                                                                                                                                                                                       $
                                                                                                                                                                                                                                             9.1
                                                                                                                                                                                                                                                    13.2
                                                                                                                                                                                                                                                            $
                                                                                                                                13:100                                                   10:100                            11:100
                                                                                                                                                                2014      2013                           2014   2013                         2014    2013

saLesonpace
vs. Days market
                                   350
                                                      344
                                                                                                                                 96%                142                   172            95%        82          147        97%          41          133
                                   300   277

        Homes Sold                 250
                                                                                                                    218
        per month
                                   200
        Days on                                                                           189                      142                    $500,000-$599,000
                                                                                                                                                    $0k-$99K                                $600,000-$699,000
                                                                                                                                                                                                      $0k-$99K                $700,000-$799,000
                                                                                                                                                                                                                                        $0k-$99K
                                   150
        Market                                                                                                                                                  12.8                                            25.3                         15.0
                                   100   75
                                                                                                                                                                          17.8
                                                                                                                                                                                   $     3:100
                                                                                                                                                                                                         33.0
                                                                                                                                                                                                                       $   7:100
                                                                                                                                                                                                                                                    26.0
                                                                                                                                                                                                                                                            $
                                                                                                                                  8:100                                                                  2014   2013                         2014   2013
                                                                                                                                                                2014      2013
                                    50
                                         2004                           2009                                     2014Q1
                                                                                                                                 95%                  19                  232            95%        6           105        96%          9           142

cLosIngs
                             14%                       $0-$99,999
                                                                                InsIghts
                             37%
                             22%
                                                $100,000-$199,999
                                                $200,000-$299,999
                                                                        $       Reduced supply and distressed sales
                                                                                should add further support to modestly
                                                                                                                                          $800,000-$899,000
                                                                                                                                                    $0k-$99K                                $900,000-$999,000
                                                                                                                                                                                                      $0k-$99K                      >$1,000,000
                                                                                                                                                                                                                                            $0k-$99K
                                                                                                                                                                                                                                             46.8
                                                                                improving values.                                                               30.8                                     35.0
                             13%                $300,000-$399,999                                                                                                         42.0
                                                                                                                                                                                   $                            64.5
                                                                                                                                                                                                                       $                            50.7
                                                                                                                                                                                                                                                            $
                             6%
                                                                                                                                  3:100                                                  3:100                             2:100
                                                $400,000-$499,999               A 19% reduction in home inventory                                               2014       2013                          2014   2013                         2014    2013

                             3%                 $500,000-$599,999               is significant. We expect this trend
                                                                                to moderate as sellers realize the               93%                   4                  313            94%        3           145        93%          10          197
                             1%                 $600,000-$699,999               opportunity and place their homes on
                             1%                 $700,000-$799,999               the market.
                             1%                 $800,000-$899,999
                             0%
                                                                                Compared to the 2013 YE pace, the                                    To learn how to increase your odds of selling, call a Beverly-Hanks associate today.
                                                $900,000-$999,999               Q1 decline in homes sold per month is
                             2%                       >$1,000,000               reflective of a typical seasonal trend.       N/a: Insufficient sales data to calculate metric and/or trend.
                                                                                We expect 2014 to annualize similarly to
                                                                                                                                           Indicates a weakening trend.
6 2014 Quarter One                                                              2013.
                                                                                              $148
 haywOOd                                           93%
                                                                                                              2013-$133,000
                                                                                                                                                       836                                                34%                               27%
                                                            2013-92%                                                                                                       2013-940                               2013-34%                             2013-26%

                                                                                                (,500)



 VItaL sIgns                                       LiSt/SeLL ratio                           MediaN SaLeS priCe                                              SuppLy                                       CaSH SaLeS                       diStreSSed SaLeS



                                                                                                                                        snapshot                                      by        pRIce bRacket                              2013 Q1 to 2014 Q1


                                                                                                                                                                                                          $0-$99,000                  $100,000-$199,000
home suppLy                                                            91 $0-$99K
                                                                                                                                                                                                                 5.9                                16.2




                                                                                                                                       Legend
Homes available for sale
                                                                       280 $100K-$199K                    20 $600K-$699K                         odds of
                                                                                                                                                 selling
                                                                                                                                                             Months of
                                                                                                                                                             inventory
                                                                                                                                                                                Market trend
                                                                                                                                                                                indicators
                                                                                                                                                                                                 17:100
                                                                                                                                                                                                                        6.6
                                                                                                                                                                                                                               $   6:100
                                                                                                                                                                                                                                                           16.6
                                                                                                                                                                                                                                                                   $
                                                                                                                                                                                                                 2014   2013                        2014   2013

                                         16%
                                                                                                          15 $700K-$799K
                                         -11%                          226 $200K-$299K
                                                                                                                                                   $                                             90%        46          158        94%         52          272
                                                                       92 $300K-$399K                     9    $800K-$899K
                                                                                                                                                  home       list/sell     sold       Days on
                                       2012 Q3 : 2013 Q3                                                                                          Values     ratio         homes      Market
                                        Year-over-year
                                                                       52 $400K-$499K                     7    $900K-$999K                      For an explanation of terms refer to page 5.


                                                                       30 $500K-$599K                     14 >$1M
                                                                                                                                                   $200,000-$299,000
                                                                                                                                                             $0k-$99K                               $300,000-$399,000
                                                                                                                                                                                                              $0k-$99K               $400,000-$499,000
                                                                                                                                                                                                                                                $0k-$99K

                                                                           X    = Number of units currently available in price range                                     21.9                                           36.0                        26.0

                                                                                                                                          5:100
                                                                                                                                                                                   48.2
                                                                                                                                                                                          $      3:100
                                                                                                                                                                                                                 39.4
                                                                                                                                                                                                                               $   4:100
                                                                                                                                                                                                                                                           43.0
                                                                                                                                                                                                                                                                   $
                                                                                                                                                                         2014      2013                          2014   2013                        2014    2013

saLes pace
vs. Days on market
                                 250                                                                232
                                                                                                                                          93%                 31                   305           92%        7           185        94%          6          214
                                                                                                                       201
                                 200

        Homes Sold
                                 150   134
        per month
                                              94
        Days on
                                 100   76                                                                                                          $500,000-$599,000
                                                                                                                                                             $0k-$99K                               $600,000-$699,000
                                                                                                                                                                                                              $0k-$99K                $700,000-$799,000
                                                                                                                                                                                                                                                $0k-$99K
        Market                                                                                                          49                                                                                       20.0
                                                                                                                                                                                   42.0
                                 50                                                                                                                                      90.0              $     5:100
                                                                                                                                                                                                                        60.0
                                                                                                                                                                                                                               $                      N/a
                                                                                                                                           1:100                         2014                                    2014   2013
                                                                                                                                                                                   2013
                                  0
                                       2004                            2009                                          2014Q1
                                                                                                                                          95%                   1                   49           97%        3           521

cLosIngs
                                                                               InsIghts
                           32%                        $0-$99,999

                                                                       $
                                                                               Values continue to be challenged by over
                           36%                $100,000-$199,999                                                                                                                                     $900,000-$999,000                      >$1,000,000
                                                                               supply and distressed sales. Distressed                             $800,000-$899,000
                                                                                                                                                             $0k-$99K                                         $0k-$99K                             $0k-$99K
                           21%                $200,000-$299,999                sales represent more than one in four
                           5%                 $300,000-$399,999                sales.
                                                                                                                                                                            N/a                                     N/a                                N/a
                           4%                 $400,000-$499,999
                                                                               The lowest four tiers have further
                           1%                 $500,000-$599,999                decreased their months of inventory.
                           2%                 $600,000-$699,999                Reduced supply and the current sales
                                              $700,000-$799,999                pace could balance these tiers in 2014.
                           0%
                           0%                 $800,000-$899,999                Sales activity continues to be focused
                           0%                 $900,000-$999,999                under $300,000.
                                                                                                                                                              To learn how to increase your odds of selling, call a Beverly-Hanks associate today.
                           0%                        >$1,000,000                                                                       N/a: Insufficient sales data to calculate metric and/or trend.
                                                                                                                                                    Indicates a weakening trend.
8 2014 Quarter One
                                                                                               $180
  hendersOn                                        95%
                                                                                                              2013-$166,000
                                                                                                                                                   1,030                                                    34%                               15%
                                                            2013-95%                                                                                                       2013-1,300                               2013-34%                             2013-25%
                                                                                                 (,000)



  VItaL sIgns                                      LiSt/SeLL ratio                           MediaN SaLeS priCe                                              SuppLy                                         CaSH SaLeS                       diStreSSed SaLeS



                                                                                                                                        snapshot                                      by          pRIce bRacket                              2013 Q1 to 2014 Q1


                                                                                                                                                                                                            $0-$99,000                  $100,000-$199,000
home suppLy                                                             82 $0-$99K
                                                                                                                                                                                                                   5.6                                 6.1




                                                                                                                                       Legend
Homes available for sale
                                                                       289 $100K-$199K                   36 $600K-$699K                          odds of
                                                                                                                                                 selling
                                                                                                                                                             Months of
                                                                                                                                                             inventory
                                                                                                                                                                                 Market trend
                                                                                                                                                                                 indicators
                                                                                                                                                                                                   18:100
                                                                                                                                                                                                                          5.8
                                                                                                                                                                                                                                 $   16:100
                                                                                                                                                                                                                                                              9.6
                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                                   2014   2013                        2014    2013
                                                                                                         14 $700K-$799K
                                            -21%                       259 $200K-$299K
                                                                                                                                                   $                                               90%        44          169        96%        141           202
                                                                       152 $300K-$399K                   16 $800K-$899K
                                                                                                                                                  home       list/sell     sold         Days on
                                       2012 Q3 : 2013 Q3                                                                                          Values     ratio         homes        Market
                                        Year-over-year
                                                                        68 $400K-$499K                   12 $900K-$999K                         For an explanation of terms refer to page 5.


                                                                        67 $500K-$599K                   35 >$1M
                                                                                                                                                   $200,000-$299,000
                                                                                                                                                             $0k-$99K                                 $300,000-$399,000
                                                                                                                                                                                                                $0k-$99K                $400,000-$499,000
                                                                                                                                                                                                                                                   $0k-$99K

                                                                           X    = Number of units currently available in price range                                     10.8                                      13.8                               17.0

                                                                                                                                          9:100
                                                                                                                                                                                  14.0
                                                                                                                                                                                            $      7:100
                                                                                                                                                                                                                          18.6
                                                                                                                                                                                                                                 $   6:100
                                                                                                                                                                                                                                                              32.6
                                                                                                                                                                                                                                                                      $
                                                                                                                                                                         2014      2013                            2014   2013                         2014   2013

saLesonpace                  200                                                            192                           191
                                             181
vs. Days market                                                                                                                           96%                141                   202             95%        33          232        95%         12           227
                                     150
                             150
        Homes Sold
        per month
                                                                                                                          105

        Days on
                             100      90
                                                                                                                                                   $500,000-$599,000
                                                                                                                                                             $0k-$99K                                 $600,000-$699,000
                                                                                                                                                                                                                $0k-$99K                $700,000-$799,000
                                                                                                                                                                                                                                                  $0k-$99K
        Market                                                                                                                                                           22.3                                             45.0                        21.0
                                                                                                                                                                                   31.0      $     2:100
                                                                                                                                                                                                                   54.0          $   5:100
                                                                                                                                                                                                                                                              42.0
                                                                                                                                                                                                                                                                      $
                                50                                                                                                         4:100                                                                   2014   2013                         2014   2013
                                     2004                              2009                                             2014Q1                                            2014      2013

                                                                                                                                          95%                   9                  645             92%        2           269        97%          2           782

cLosIngs
                           14%                        $0-$99,999               InsIghts
                           45%                $100,000-$199,999                                                                                                                                       $900,000-$999,000                      >$1,000,000
                           23%                $200,000-$299,999        $       Improving median sales price (+8%)
                                                                               continues to be a leader in value recovery
                                                                                                                                                   $800,000-$899,000
                                                                                                                                                             $0k-$99K                                           $0k-$99K                             $0k-$99K
                                                                                                                                                                                                                                                              123.0
                           10%                $300,000-$399,999
                                                                               for the region.
                                                                                                                                                                             N/a                                     N/a
                                                                                                                                                                                                                                                       N/a
                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                                    N/a                              N/a
                           4%                 $400,000-$499,999                Seven of the 11 brackets experienced                                                                                                                                    2014   2013    n/a

                           3%                 $500,000-$599,999                decreases in months of inventory over
                                                                               last year. The three lowest brackets                                                                                                                  N/a         N/a          N/a
                           1%                 $600,000-$699,999
                                                                               remain balanced between buyers and
                           1%                 $700,000-$799,999                sellers.
                           0%                 $800,000-$899,999
                                                                               60% of sales occurred under the                                                To learn how to increase your odds of selling, call a Beverly-Hanks associate today.
                           0%                 $900,000-$999,999
                                                                               county’s average sales price suggesting
                           0%                        >$1,000,000               the recovery is not spread evenly across                N/a: Insufficient sales data to calculate metric and/or trend.
                                                                               the market.                                                          Indicates a weakening trend.
10 2014 Quarter One
 madisOn                     91%                   $165              225                   46%                       36%
 VItaL sIgns
                                                         (,000)
                                                                                                                                         snapshot                                       by        pRIce bRacket                                  2013 Q1 to 2014 Q1
                                 2013-94%          2013-$170,000     2013-263                2013-42%                 2013-20%
   Comparison                LiSt/SeLL              MediaN           SuppLy               CaSH SaLeS               diStreSSed
2013 Q1 to 2014 Q1             ratio               SaLeS priCe                                                        SaLeS
                                                                                                                                                                                                           $0-$99,000                    $100,000-$199,000




                                                                                                                                        Legend
                                                                                                                                                                                                                  7.0                                 9.7
                                                                                                                                                                                                                                                                    $
                                                                                                                                                                                  Market trend
                                                                                                                                                                                                                                $
                                                                                                                                                  odds of     Months of
                                                                                                                                                              inventory           indicators                             10.1                                24.7
                                                                                                                                                  selling
                                                                                                                                                                                                  14:100                              10:100
 home suppLy                                                              21 $0-$99K
                                                                                                                                                                                                                  2014   2013                         2014   2013
 Homes available for sale
                                                                          58 $100K-$199K                   7   $600K-$699K                          $                                             91%        9           135          89%        18          282
                                                                                                                                                   home       list/sell     sold       Days on
                                                                                                               $700K-$799K
                                             -15%                         60 $200K-$299K                   2                                       Values     ratio         homes      Market

                                                                                                                                                 For an explanation of terms refer to page 5.
                                                                          32 $300K-$399K                   5   $800K-$899K
                                       2012 Q3 : 2013 Q3
                                        Year-over-year
                                                                          18 $400K-$499K                   5   $900K-$999K                          $200,000-$299,000
                                                                                                                                                              $0k-$99K                                $300,000-$399,000
                                                                                                                                                                                                                $0k-$99K                 $400,000-$499,000
                                                                                                                                                                                                                                                    $0k-$99K
                                                                                                                                                                          20.0                                           N/a                          N/a
                                                                          11 $500K-$599K                   6   >$1M
                                                                                                                                           5:100
                                                                                                                                                                                   26.6
                                                                                                                                                                                            $      2:100
                                                                                                                                                                                                                  48.0
                                                                                                                                                                                                                                $     N/a
                                                                                                                                                                                                                                                             23.0
                                                                                                                                                                                                                                                                    $
                                                                                                                                                                          2014      2013                          2014   2013                         2014   2013   N/a
                                                                           X     = Number of units currently available in price range
                                                                                                                                           95%                   9                  213           92%        2           265          N/a       N/a          N/a
                                                                                              247
                                 250
 saLesonpace
 vs. Days market
                                                                                                                          219

                                 200
                                       167

                                 150
         Homes Sold                                                                                                                                 $500,000-$599,000
                                                                                                                                                              $0k-$99K                                $600,000-$699,000
                                                                                                                                                                                                                $0k-$99K                 $700,000-$799,000
                                                                                                                                                                                                                                                   $0k-$99K
         per month
                                 100                                                                                                                                      N/a                                     N/a
                                                                                                                                                                                     9.0     $     N/a
                                                                                                                                                                                                                         15.0   $                        N/a
         Days on                  50
                                                                                                                                             N/a                                            N/a                   2014   2013   N/a
                                                                                                                                                                           2014      2013
         Market                        18     21
                                                                                                                           13

                                   0                                                                                                       N/a                N/a                   N/a           N/a       N/a          N/a
                                       2004                              2009                                            2014Q1




 cLosIngs
                            23%                         $0-$99,999             InsIghts                                                             $800,000-$899,000
                                                                                                                                                              $0k-$99K                                $900,000-$999,000
                                                                                                                                                                                                                $0k-$99K                      >$1,000,000
                                                                                                                                                                                                                                                      $0k-$99K
                                                                                                                                                                                                                                                             N/a
                            46%               $100,000-$199,999
                                                                       $
                                                                                Values continue to be plagued by a high
                                                                                                                                                                                                                     N/a
                                                                                                                                                                                                                                                      18.0
                                                                                                                                                                                                                                                                    $
                            23%               $200,000-$299,999                 percentage of cash and distressed sales.                                                      N/a                                                     6:100           2014   2013
                            5%                $300,000-$399,999                 Until these properties are absorbed,
                                                                                improvements to pricing are unlikely.
                            0%                $400,000-$499,999                                                                                                                                                                       88%        1           544
                            0%                $500,000-$599,999                 The two tiers accounting for almost 70%
                            0%                $600,000-$699,999                 of sales remain the only two with less
                                                                                than ten months of inventory.
                            0%                $700,000-$799,999
                            0%                $800,000-$899,999                 A steady sales pace and reduced supply
                            0%                $900,000-$999,999                 could poduce a more wide-spread
                                                                                balancing of the market this year.                                             To learn how to increase your odds of selling, call a Beverly-Hanks associate today.
                            3%                         >$1,000,000
                                                                                                                                        N/a: Insufficient sales data to calculate metric and/or trend.
                                                                                                                                                     Indicates a weakening trend.
 12 2014 Quarter One
 pOlk                       92%               $171               282                    41%                         25%
 VItaL sIgns
                                                        (,500)
                                                                                                                                      snapshot                                       by           pRIce bRacket                                  2013 Q1 to 2014 Q1

                             2013-90%          2013-$145,250     2013-302                 2013-50%                  2013-24%
   Comparison               LiSt/SeLL         MediaN             SuppLy                CaSH SaLeS               diStreSSed
2013 Q1 to 2014 Q1            ratio          SaLeS priCe                                                           SaLeS
                                                                                                                                                                                                           $0-$99,000                    $100,000-$199,000




                                                                                                                                     Legend
                                                                                                                                                                                                                         3.5                          10.0
                                                                                                                                                                                                                                                                    $
                                                                                                                                                                               Market trend
                                                                                                                                                                                                                                $
                                                                                                                                               odds of     Months of
                                                                                                                                                                                                                                                             19.8
 home suppLy                                                                                                                                               inventory           indicators                         8.3
                                                                                                                                               selling
                                                                      25 $0-$99K                                                                                                                  12:100                              10:100
 Homes available for sale                                                                                                                                                                                         2014   2013                         2014   2013

                                                                      70 $100K-$199K                   10 $600K-$699K                            $                                                88%        9           195          90%        21          215
                                                                                                                                                home       list/sell     sold       Days on

                                            -7%                       68 $200K-$299K                    6   $700K-$799K                         Values     ratio         homes      Market

                                                                                                                                              For an explanation of terms refer to page 5.
                                                                      48 $300K-$399K                    1   $800K-$899K
                                     2012 Q3 : 2013 Q3
                                      Year-over-year
                                                                      23 $400K-$499K                    4   $900K-$999K                          $200,000-$299,000
                                                                                                                                                           $0k-$99K                                  $300,000-$399,000
                                                                                                                                                                                                               $0k-$99K                  $400,000-$499,000
                                                                                                                                                                                                                                                    $0k-$99K
                                                                                                                                                                       34.0                                              N/a
                                                                      17 $500K-$599K                   10 >$1M
                                                                                                                                        3:100
                                                                                                                                                                                37.0
                                                                                                                                                                                         $         N/a
                                                                                                                                                                                                                  N/a
                                                                                                                                                                                                                                $                        N/a
                                                                                                                                                                       2014      2013                             2014   2013
                                                                       X      = Number of units currently available in price range
                                                                                                                                        91%                   6                  229              94%        4           234
                             350                                                                              324

 saLesonpace
 vs. Days market
                             300

                             250
                                                                                                                         211
                             200     174
         Homes Sold                                                                                                                              $500,000-$599,000
                                                                                                                                                           $0k-$99K                                   $600,000-$699,000
                                                                                                                                                                                                                $0k-$99K                 $700,000-$799,000
                                                                                                                                                                                                                                                   $0k-$99K
         per month           150
                                                                                                                                                                                  15.0                                   42.0
                             100                                                                                                                                       51.0               $        3:100
                                                                                                                                                                                                                  30.0          $                        N/a
         Days on                                   32
                                                                                                                                         2:100                                                                    2014   2013
                              50     24                                                                                                                                 2014      2013
         Market                                                                                                         15

                                 0
                                     2004                            2009                                            2014Q1             90%                   1                  648              88%        1           350



 cLosIngs
                            20%                     $0-$99,999             InsIghts                                                              $800,000-$899,000
                                                                                                                                                           $0k-$99K                                   $900,000-$999,000
                                                                                                                                                                                                                $0k-$99K                      >$1,000,000
                                                                                                                                                                                                                                                      $0k-$99K
                                                                                                                                                                                                                                                             N/a
                                                                                                                                                                                  N/a                                    N/a
                            48%              $100,000-$199,999
                                                                   $        Downward pressure on pricing continues                                                      3.0
                                                                                                                                                                                              $                   24.0
                                                                                                                                                                                                                                $                     30.0
                                                                                                                                                                                                                                                                    $
                            14%              $200,000-$299,999              in all but the lowest price brackets which                  33:100                                                     N/a                          N/a
                                                                                                                                                                                                                                      3:100           2014   2013   N/a
                                                                                                                                                                        2014      2013    N/a                     2014   2013
                            9%               $300,000-$399,999              account for 68% of sales.
                            0%               $400,000-$499,999                                                                        100% N/a                1                   65     N/a      N/a       N/a          N/a          94% N/a    1           421    N/a
                                                                            Months of inventory remain stubbornly
                            2%               $500,000-$599,999              high due to limited sales activity.
                            2%               $600,000-$699,999
                                                                            Steady sales pace through Q1 gives
                            0%               $700,000-$799,999
                                                                            hope that as we enter the spring, home
                            2%               $800,000-$899,999              buying activity will increase and balance
                            0%               $900,000-$999,999              the markets in 2014.
                                                                                                                                                            To learn how to increase your odds of selling, call a Beverly-Hanks associate today.
                            2%                     >$1,000,000
                                                                                                                                     N/a: Insufficient sales data to calculate metric and/or trend.
                                                                                                                                                  Indicates a weakening trend.
14 2014 Quarter One
ruTherfOrd                  91%              $94              470                    51%                        22%
 VItaL sIgns
                                                  (,500)
                                                                                                                                  snapshot                                       by           pRIce bRacket                                     2013 Q1 to 2014 Q1
                             2013-94%       2013-$108,900     2013-437                 2013-51%                  2013-33%
   Comparison               LiSt/SeLL       MediaN            SuppLy               CaSH SaLeS                   diStreSSed
2013 Q1 to 2014 Q1            ratio        SaLeS priCe                                                             SaLeS
                                                                                                                                                                                                        $0-$99,000                        $100,000-$199,000




                                                                                                                                 Legend
                                                                                                                                                                                                               6.4                                   18.5
                                                                                                                                                                                                                                                                    $
                                                                                                                                                                           Market trend
                                                                                                                                                                                                                              $
                                                                                                                                           odds of     Months of
                                                                                                                                                       inventory           indicators                                  8.5                                   21.0
                                                                                                                                           selling
                                                                                                                                                                                              16:100                                5:100
 home suppLy                                                      73 $0-$99K
                                                                                                                                                                                                               2014    2013                          2014    2013
 Homes available for sale
                                                                  123 $100K-$199K                   7    $600K-$699K                         $                                                91%         34          210           93%         20           303
                                                                                                                                            home       list/sell     sold       Days on
                                                                                                         $700K-$799K
                                         +8%                      120 $200K-$299K                   9                                       Values     ratio         homes      Market

                                                                                                                                          For an explanation of terms refer to page 5.
                                                                  65 $300K-$399K                    4    $800K-$899K
                                   2012 Q3 : 2013 Q3
                                    Year-over-year
                                                                  36 $400K-$499K                    2    $900K-$999K                         $200,000-$299,000
                                                                                                                                                       $0k-$99K                                   $300,000-$399,000
                                                                                                                                                                                                            $0k-$99K                  $400,000-$499,000
                                                                                                                                                                                                                                                 $0k-$99K
                                                                                                                                                                   45.0                                        65.0                                          N/a
                                                                  20 $500K-$599K                    11 >$1M
                                                                                                                                    2:100
                                                                                                                                                                            48.9
                                                                                                                                                                                     $         2:100
                                                                                                                                                                                                                      100.5
                                                                                                                                                                                                                              $     1:100
                                                                                                                                                                                                                                                     108.0
                                                                                                                                                                                                                                                                    $
                                                                                                                                                                   2014      2013                              2014   2013                           2014    2013
                                                                    X     = Number of units currently available in price range
                                                                                                                                    91%                   8                  511              88%         3            80           75%   N/a   1            456    N/a
                             300                                                       277

 saLesonpace
 vs. Days market
                             250
                                                                                                                    202
                             200
                                   169

         Homes Sold          150                                                                                                             $500,000-$599,000
                                                                                                                                                       $0k-$99K                                   $600,000-$699,000
                                                                                                                                                                                                            $0k-$99K                      $700,000-$799,000
                                                                                                                                                                                                                                                    $0k-$99K
         per month
                             100

         Days on
                                                                                                                                                                      N/a                                         N/a                                   N/a
                              50                                                                           25       22
         Market                     4
                               0                                  2009
                                   2004                                                                            2013




 cLosIngs
                            51%                  $0-$99,999             InsIghts                                                             $800,000-$899,000
                                                                                                                                                       $0k-$99K                                   $900,000-$999,000
                                                                                                                                                                                                            $0k-$99K                        >$1,000,000
                                                                                                                                                                                                                                                    $0k-$99K
                                                                                                                                                                   N/a                                                 N/a
                            30%           $100,000-$199,999
                            12%           $200,000-$299,999
                                                                $        With one of the lowest median sales
                                                                         prices and a reasonable supply of                            N/a
                                                                                                                                                                             15.0
                                                                                                                                                                                          $   17:100
                                                                                                                                                                                                                6.0
                                                                                                                                                                                                                              $                         N/a
                                                                         homes from which to select, this county                                                    2014      2013   N/a                       2014    2013   N/a
                            4%            $300,000-$399,999              continues to be very attractive for cash
                            1%            $400,000-$499,999              buyers.                                                    N/a                N/a                   N/a              97% N/a     1            56     N/a

                            0%            $500,000-$599,999
                                                                         One of the only counties to have an
                            0%            $600,000-$699,999
                                                                         increase in supply, the added inventory
                            0%            $700,000-$799,999              will place pressure on pricing until sales
                            0%            $800,000-$899,999              offset the increase.
                            1%            $900,000-$999,999                                                                                             To learn how to increase your odds of selling, call a Beverly-Hanks associate today.
                                                                         Declining days on market (a trailing
                            0%                  >$1,000,000              indicator) could indicate that the most
                                                                         shopworn inventory is being cleared at                  N/a: Insufficient sales data to calculate metric and/or trend.
                                                                         discount prices making way for fresh                                 Indicates a weakening trend.
 16 2014 Quarter One                                                     sales this spring.
Transylvania                     92%             $160                697                  52%                       25%
 VItaL sIgns
                                                           (,000)
                                                                                                                                        snapshot                                       by       pRIce bRacket                                     2013 Q1 to 2014 Q1

                                  2013-90%        2013-$154,000      2013-712                2013-47%                2013-17%
   Comparison                    LiSt/SeLL       MediaN              SuppLy              CaSH SaLeS               diStreSSed
2013 Q1 to 2014 Q1                 ratio        SaLeS priCe                                                          SaLeS
                                                                                                                                                                                                            $0-$99,000                    $100,000-$199,000




                                                                                                                                       Legend
                                                                                                                                                                                                                   4.1                                        13.5
                                                                                                                                                                                                                                                                      $
                                                                                                                                                                                 Market trend
                                                                                                                                                                                                                                 $
                                                                                                                                                 odds of     Months of
                                                                                                                                                                                                                                                       21.3
 home suppLy                                                                                                                                                 inventory           indicators                               7.3
                                                                                                                                                 selling
                                                                         29 $0-$99K                                                                                                             24:100                                 5:100
 Homes available for sale                                                                                                                                                                                          2014   2013                         2014   2013

                                                                        149 $100K-$199K                  27 $600K-$699K                            $                                            84%           21          191          93%        21          290
                                                                                                                                                  home       list/sell     sold       Days on

                                               -2%                      158 $200K-$299K                  20 $700K-$799K                           Values     ratio         homes      Market

                                                                                                                                                For an explanation of terms refer to page 5.
                                                                        106 $300K-$399K                  16 $800K-$899K
                                        2012 Q3 : 2013 Q3
                                         Year-over-year
                                                                         72 $400K-$499K                  13 $900K-$999K                            $200,000-$299,000
                                                                                                                                                             $0k-$99K                                 $300,000-$399,000
                                                                                                                                                                                                                $0k-$99K                 $400,000-$499,000
                                                                                                                                                                                                                                                    $0k-$99K
                                                                                                                                                                                  25.2                                    42.0                         36.0
                                                                         42 $500K-$599K                  65 >$1M
                                                                                                                                          3:100
                                                                                                                                                                         33.9
                                                                                                                                                                                           $     2:100
                                                                                                                                                                                                                   45.4
                                                                                                                                                                                                                                 $     3:100
                                                                                                                                                                                                                                                              39.6
                                                                                                                                                                                                                                                                      $
                                                                                                                                                                         2014      2013                            2014   2013                         2014   2013
                                                                          X     = Number of units currently available in price range
                                                                                                                                          91%                 14                   298          93%           7           145          93%        6           304
                                  300                                                        277
                                                                                                                          265

 saLesonpace
 vs. Days market
                                  250


                                  200
                                        159
         Homes Sold               150                                                                                                              $500,000-$599,000
                                                                                                                                                             $0k-$99K                                 $600,000-$699,000
                                                                                                                                                                                                                $0k-$99K                  $700,000-$799,000
                                                                                                                                                                                                                                                    $0k-$99K
         per month
                                                                                                                                                                                   123.0                                  N/a
                                                                                                                                                                                            $                                    $
                                  100
                                                                                                                                                                         126.0                                     27.0
         Days on                         39
                                                      53
                                                                                                                                           1:100                                                 4:100                                                    N/a
                                   50                                                                                     24                                             2014       2013                           2014   2013
         Market
                                    0
                                        2004                             2009                                           2014Q1          100%                    1                  323          93%   N/a     3           918    N/a




 cLosIngs
                            29%                         $0-$99,999            InsIghts                                                             $800,000-$899,000
                                                                                                                                                             $0k-$99K                                 $900,000-$999,000
                                                                                                                                                                                                                $0k-$99K                       >$1,000,000
                                                                                                                                                                                                                                                       $0k-$99K
                                                                                                                                                                                                                                                       N/a
                            29%                 $100,000-$199,999
                                                                      $       Cash sales concentrated in the lowest
                                                                              price tiers are placing ongoing downward                                                      N/a                                       N/a
                                                                                                                                                                                                                                                              177.0   $
                            19%                 $200,000-$299,999                                                                                                                                                                      N/a             2014   2013    N/a
                                                                              pressure in those market segments.
                            10%                 $300,000-$399,999
                            8%                  $400,000-$499,999             The only county to experience an increase                                                                                                                N/a       N/a          N/a
                            1%                  $500,000-$599,999             in average months of inventory. The
                                                                              improving market is likely encouraging
                            4%                  $600,000-$699,999             new sellers to enter the market.
                            0%                  $700,000-$799,999
                            0%                  $800,000-$899,999             Adjustment in sales pace is likely
                                                                              attributed to seasonal trends and is
                            0%                  $900,000-$999,999                                                                                             To learn how to increase your odds of selling, call a Beverly-Hanks associate today.
                                                                              expected to return to 2013 levels.
                            0%                        >$1,000,000
                                                                                                                                       N/a: Insufficient sales data to calculate metric and/or trend.
                                                                                                                                                    Indicates a weakening trend.
18 2014 Quarter One
                                     Community Marketing Group (CMG) is Beverly-Hanks’ full-service marketing division
                                     providing proven sales, marketing, and strategic consulting services to builders and
                                     developers. Our services are tailored to each project’s specific needs. We offer everything
                                     from design charettes and market feasibility studies to turn-key sales and marketing teams.




                                                new Building permiTs ClimB
                                                                                                                                                       CoMMerCiaL Market CoNtiNueS
                                                Nationally, new home construction continued its decline after soaring in November
                                                to the fastest pace since 2008. Harsh weather depressed starts on new projects,                        HeaLtHy GroWtH
                                                but projects delayed during the tough winter could show up in the spring, economists
                                                say (Reuters.com, February 2014). The data looks very good for all types of housing                    The commercial market in Western North Carolina continues its healthy growth track that               nOTaBle
                                                in 2014 and beyond, according to economists from the NAHB. The association is
                                                forecasting 1.15 million total housing starts in 2014, up 24.5%.
                                                                                                                                                       began several quarters ago, as a new tide of capital and entrepreneurial investors seek
                                                                                                                                                       opportunities. Interest in downtown Asheville, the River Arts District, Biltmore Park and             TransaCTiOns
                                                                                                                                                       Biltmore Village leads demand in the area. Despite shrinking opportunities, multifamily
                                                Not all forecasters believe that the weather was the culprit. Some economists point to
                                                increasing interest rates and softening consumer confidence. They point out that in the                developers continue to look for viable options. Various grocery chains have entered the
                                                Northeast, the place hardest hit by the cold, groundbreaking was up, while declines                    market recently, testing new limits of market saturation. Construction is finally underway
                                                occurred in the South and Midwest despite less troublesome weather.                                    on the New Belgium Brewery in the River Arts District adjacent to downtown. Lastly,
                                                                                                                                                                                                                                                             136 Merrimon ave – Harris teeter
                                                                                                                                                       demand for hotel rooms in Asheville continues its meteoric rise, with announcements for
                                                Looking longer term, housing starts are far higher than when the bottoming out occurred                                                                                                                      ground lease; $9,875,000
                                                                                                                                                       two new hotels by the McKibbon Group on the BB&T properties. Additionally, a hotel is
                                                in 2009. New building permits climbed to the second highest level since the recession
                                                ended in mid-2009. The Asheville MSA posted a 17% increase over last February. Last                    planned along with office space on the former Tripp’s site, and another hotel is planned
                                                year experienced the most starts of new single-family homes since 2008.                                adjacent to the Grove Arcade.



                                            
                                                Source: Calculatedriskblog.com, March 2014
                                                            
                                                                                                                                                       2014 Q1             saLes VoLume

   Vital SignS 2013 Q1/ 2014 Q1                                                                                                                        $15M
                                                                                                                                                                                             $15M                                                            4.3-acre parcel with 45,000-sf
                                                                                                                                                                                                                                                             grocery; 20-yr lease; 6% cap
          NC Building Permits*                                                               New Construction                                          $12M                                                                                                  (Berkeley Capital brokered)
                                               AVL Building Permits*                                                       *Source: Bureau of Census
                                                                                             Closings**                   **Source: WNCRMLS
           7,365 / 6,768                       157 / 184                                     77 / 75                                                   $9M                                                                    Grocery chains testing
                                                                                                                                                                                $8.22M                                        the limits of saturation.
                                                                                                                                                                                                                                                             20 Misty Valley Pkwy – 27,000-SF
feaTured new hOme COmmuniTy                                                                                                                            $6M

                                                                                                                                                                   $4M
                                                                                                                                                                                                                                                             office building sale; $1,500,000
                                                                                                                                                       $3M
Over the years, we have worked with numerous owners, developers and builders in some of the most beautiful and desirable                                                                                 $1.04M
                                                                                                                                                                                                                     $215K
communities in the region. Each quarter we feature an outstanding example of the communities with which we are proud to affiliate.                     $0M




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                                                                                                                                                        Source: CoStar, 2014.                                                                                NAI Beverly-Hanks brokered
                                                                                                                                                                                                                                                             both sides of transaction.


                                                                                                                                                                                                                                                             6 all Souls Crescent – 2,258-SF
                                                                                                                                                       2014 Q1             Leased sF                                                                         in Biltmore Village; $620,000

                                                                                                                                                       80K SF
                                                                                                                                                       70K SF
                                                                                                                                                       60K SF                                                  65,296 SF      Interest continues to focus
                                                                                                                                                                       56,968 SF                                             on Central Business District.
Nestled between Asheville and Charlotte in the Foothills of the Blue Ridge Mountains,                                                                  50K SF
the communities of 1780 and Old Wildlife Club on Lake James offer some of the                                                                          40K SF
region’s best lakefront living. Explore their fully completed amenity center, Camp Lake                                                                30K SF
                                                                                                                                                                                                                                                             NAI Beverly-Hanks brokered both
James. Whether it’s working with staff to schedule a day of wakeboarding, relaxing                                                                     20K SF                                                                                                sides of transaction.
                                                                                                                                                       10K SF                                16,804 SF
pool side at the Social Hall or enjoying an evening under the stars at the amphitheater,
Camp Lake James encourages members to make the most of life on the lake.                                                                                0K SF
                                                                                                                                                                       Industrial             Office              Retail

                                                                                                                                                        Source: CoStar, 2014.


                                  Regional is good. Local is better. For professional insight and thorough analysis of a specific property or
20 2014 Quarter One               neighborhood, call your Beverly-Hanks associate.
lOTs                                             84%                   $60                        4,401                    161                     21%               aCreage                                                        87%                   $7                       393                       927                  14%
VItaL sIgns                                                                                                                                                          VItaL sIgns
                                                                              (,850)                                                                                                                                                                         (,802)



 0-3 acres lots with Deed                        2013-85%              2013-$61,508               2013-4,281                  2013-176              2013-34%                unrestricted parcels 15                                 2013-87%            2013-$4,440                2013-408                  2013-1,280           2013-17%
Restrictions • Comparison                    list/sell              aVeraGe                        suPPly                total aCres              DistresseD              acres and up • Comparison                                list/sell       aVeraGe sales                   suPPly                total aCres            DistresseD
   2013 Q1 to 2014 Q1                          ratio               sales PriCe                                              solD                     sales                    2013 Q1 to 2014 Q1                                     ratio           PriCe/aCre                                             solD                   sales



       saLes tRends                                                                  LIst pRIce                                                                                      saLes tRends                                                                  LIst pRIce
                                                                                       vs. Sales Price                                                                                                                                                                vs. Sales Price

       150                                                                                                                                                                           7.00
                                                                2014                                                                                                                                                                             2014
                                                                                       93%         94%        89%                  78%      84%                                                                                                                    94%                     89%     78%                 87%
       125                                                      2013      $150,000                                                                                                                                                               2013
                                                                                                                                                                                                                                                         $20,000
                                                                                                                                                                                     5.25
                                                                2012                                                                                                                                                                             2012




                                                                                                                                                                      Parcels >15 acres
       100
                                                                2011                                                                               List/Sell Ratio                                                                               2011
                                                                                                                                                                                                                                                                                                                              List/Sell Ratio
                                                                          $120,000
Lots




        75                                                      2010                                                                               List Price
                                                                                                                                                                                     3.50                                                        2010    $14,166
                                                                                                                                                                                                                                                                                                                              List Price
                                                                                                                                                   Sales Price
        50                                                                                                                                                                                                                                                                                                                    Sales Price
                                                                                                                                                                                     1.75
                                                                           $90,000                                                                                                                                                                        $8,333
        25

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 actIVe LIstIngs                                                                                                                                                       actIVe LIstIngs
  vs. Closed Listings                             Percentage of Closed Sales Compared to Active Properties                                                               vs. Closed Listings                                        Percentage of Closed Sales Compared to Active Properties

             Closed, 2014Q1                                                                                                       Active, April 1, 2014                                          Closed, 2014Q1                                                                                               Active, April 1, 2014
             187                                                                                                                                  4,404                                          17                                                                                                                            393
  Total Lots Sold by Price Range                                                                                      Total Lots For Sale by Price Range                   Total Parcels Sold by Price Range, 2014Q1                                                                             Total Parcels For Sale by Price Range
                                      103                            $0-$49,999                                          2,124                                                                                            0                           $0-$49,999                                              0
                                       44                          $50,000-$99,999                                       1,254                                                                                            2                         $50,000-$99,999                                          27
                                       20                         $100,000-$149,999                                        478                                                                                            7                        $100,000-$149,999                                         43
                                       12                         $150,000-$199,999                                        228                                                                                            3                        $150,000-$199,999                                         44
                                        1                         $200,000-$249,999                                         87                                                                                            0                        $200,000-$249,999                                         23
                                        2                         $250,000-$299,999                                         70                                                                                            0                        $250,000-$299,999                                         27
                                        2                         $300,000-$349,999                                         31                                                                                            0                        $300,000-$349,999                                         18
                                        1                         $350,000-$399,999                                         50                                                                                            0                        $350,000-$399,999                                         24
                                        0                         $400,000-$449,999                                           8                                                                                           2                        $400,000-$449,999                                         13
                                        2                         $450,000-$499,999                                         14                                                                                            0                        $450,000-$499,999                                         21
                                        0                             >$500,000                                             60                                                                                            3                            >$500,000                                           153




InsIghts                                                                                                                                                             InsIghts
$ Oversupplypricecontinues most
  plague all      tiers but
                             to                             Sales      continue   to
                                                            concentrated in Buncombe
                                                                                         be                         Lots’ sales per month have
                                                                                                                    softened over Q1 which is a                      $ The average price few acre was
                                                                                                                                                                       impacted by a
                                                                                                                                                                                         per
                                                                                                                                                                                              specific
                                                                                                                                                                                                                                             Supply levels remain slightly
                                                                                                                                                                                                                                             lower than 2013, but a harsh
                                                                                                                                                                                                                                                                                                 Sales in Madison and Polk
                                                                                                                                                                                                                                                                                                 counties led the region, but
       dramatically affects properties                      County, but for buyers willing                          typical seasonal pattern.                                             sales which distorted the per                      winter could have restricted the                    Buncombe County came in
       in the higher price points.                          to consider one of the outlying                                                                                               acre price atypically high.                        introduction of new properties.                     a close third indicating the
                                                            counties, fantastic values are                                                                                                                                                   Q2 will be critical for gauging                     likelihood of land banking for
                                                            available.                                                                                                                                                                       the direction of supply.                            future housing development at
                                                                                                                                                                                                                                                                                                 historically low acquisition costs.
22 2014 Quarter One
                         searCh TOOls
                                              beverly-hanks.com                                                             BHInfo
                                              Photos, prices and maps on your smart                                         Receive information on any property in
                                              phone. To find the properties closest to                                      the MLS. Price and photos delivered
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                                                                  nearby                                                     tXt BhinFo to 59559


               $1,000M
                                                              2013 Year End Total Sales Volume

                $800M    27.5%
                         Market
                                            More real estate sold than the next               5     firms added together.
                         Share                   More isn’t always better unless you’re measuring results.
Sales Volume




                $600M


                $400M


                $200M
                                                                                                                                                   S E R V I C E S

                  $0M
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