Market Activity Millburn/Short Hills, NJ

* Ratio: SP/LP represents the sale price as a percentage of list price. 

Date # of Properties Sold Average List Price Average Sale Price Ratio: SP/LP* Days on the Market Detailed Home Sales Report December 2011 14 $ 842,564 $ 803,464 95.36 % 57.07 November 2011 7 $ 741,912 $ 704,643 94.98 % 84.86 October 2011 9 $ 1,013,444 $ 968,944 95.61 % 84.11 September 2011 17 $ 1,000,000 $ 989,813 98.98 % 41.75 August 2011 39 $ 1,075,018 $ 1,042,631 96.99 % 41.55 July 2011 28 $ 1,086,071 $ 1,054,611 97.10 % 62.07 June 2011 39 $ 1,378,538 $ 1,361,450 98.76 % 29.77 May 2011 19 $ 896,153 $ 875,179 97.66 % 48.95 April 2011 11 $ 1,700,909 $ 1,593,100 93.66 % 71.27 March 2011 12 $ 887,575 $ 854,242 96.24 % 63.33 February 2011 13 $ 1,318,908 $ 1,287,254 97.60 % 90.62 January 2011 17 $ 1,110,635 $ 1,082,805 97.49 % 65.29 December 2010 23 $ 1,198,042 $ 1,150,214 96.01 % 64.33 November 2010 8 $ 868,500 $ 854,225 98.36 % 65.25 October 2010 17 $ 840,351 $ 811,065 96.52 % 52.35 September 2010 17 $ 1,122,547 $ 1,100,568 98.04 % 57.94 August 2010 27 $ 1,238,593 $ 1,219,926 98.49 % 56.07 July 2010 24 $ 1,420,458 $ 1,344,031 94.62 % 47.46 June 2010 45 $ 1,236,309 $ 1,201,216 97.16 % 53.6 May 2010 17 $ 1,229,294 $ 1,213,736 98.73 % 57.35 April 2010 17 $ 1,331,435 $ 1,304,671 97.99 % 39.65 March 2010 14 $ 1,542,071 $ 1,412,071 92.65 % 85.36 February 2010 11 $ 1,222,455 $ 1,142,545 93.46 % 67.36 January 2010 13 $ 1,328,569 $ 1,272,615 95.79 % 48.69 December 2009 21 $ 1,254,309 $ 1,196,636 95.56 % 67.82 November 2009 11 $ 1,100,264 $ 1,043,545 94.84 % 82.45 October 2009 17 $ 1,278,518 $ 1,243,041 97.23 % 115.94 September 2009 24 $ 1,286,904 $ 1,211,865 94.17 % 41.96 August 2009 34 $ 1,266,068 $ 1,195,100 94.39 % 58.94 July 2009 27 $ 1,305,733 $ 1,220,178 93.45 % 66 June 2009 30 $ 1,165,819 $ 1,123,665 96.38 % 80.13 May 2009 16 $ 1,085,025 $ 1,049,188 96.70 % 48.31 April 2009 16 $ 1,155,500 $ 1,074,781 93.01 % 70.69 March 2009 10 $ 1,394,180 $ 1,281,250 91.90 % 135.90 February 2009 7 $ 712,286 $ 695,214 97.60 % 49.29 January 2009 6 $ 1,338,271 $ 1,273,643 95.17 % 60.14 December 2008 10 $ 903,190 $ 866,100 95.89 % 58 November 2008 9 $ 878,111 $ 839,778 95.63 % 56 October 2008 13 $ 1,386,600 $ 1,321,081 95.27 % 66.92 September 2008 16 $ 1,155,869 $ 1,117,797 96.71 % 41.63 August 2008 55 $ 1,314,689 $ 1,274,225 94.97 % 52.6 July 2008 35 $ 1,335,826 $ 1,281,490 95.93 % 40.83 June 2008 29 $ 1,055,220 $ 1,041,479 98.70 % 39.55 May 2008 23 $ 1,441,348 $ 1,361,130 94.43 % 45.39 April 2008 17 $ 1,380,459 $ 1,308,176 94.76 % 65.59 March 2008 19 $ 1,243,000 $ 1,197,763 96.36 % 60.58 February 2008 10 $ 1,487,690 $ 1,437,395 96.62 % 64.3 January 2008 19 $ 1,347,335 $ 1,285,375 95.40 % 55.8 December 2007 17 $ 1,091,235 $ 1,059,956 97.13 % 65.76 November 2007 14 $ 1,220,850 $ 1,132,429 92.76 % 73.79 October 2007 13 $ 991,530 $ 950,712 95.88 % 53.23 September 2007 21 $ 1,308,476 $ 1,292,619 98.79 % 55.33 August 2007 46 $ 1,500,321 $ 1,457,535 97.15 % 45.33 July 2007 36 $ 1,744,328 $ 1,674,731 96.01 % 58.53 June 2007 46 $ 1,264,213 $ 1,238,446 97.96 % 65.83 May 2007 38 $ 1,208,532 $ 1,177,340 97.42 % 58.24 April 2007 20 $ 1,428,795 $ 1,401,263 98.07 % 43.35 March 2007 22 $ 1,229,229 $ 1,184,500 96.36 % 83.76 February 2007 15 $ 1,045,286 $ 1,011,393 96.76 % 73.21 January 2007 13 $ 1,407,454 $ 1,339,808 95.19 % 68 December 2006 15 $ 1,054,460 $ 1,014,933 96.25 % 72.67 November 2006 10 $ 1,468,600 $ 1,429,213 97.32 % 62.6 October 2006 21 $ 1,074,762 $ 1,044,881 97.22 % 64.29 September 2006 17 $ 1,455,100 $ 1,395,377 95.90 % 74.94 August 2006 36 $ 1,342,353 $ 1,307,056 97.37 % 45.61 July 2006 35 $ 1,291,480 $ 1,266,684 98.08 % 41.71 June 2006 35 $ 1,717,820 $ 1,677,861 97.67 % 55.94 May 2006 29 $ 1,263,445 $ 1,215,293 96.19 % 68.07 April 2006 18 $ 1,400,139 $ 1,336,917 95.48 % 53.5 March 2006 21 $ 1,199,619 $ 1,157,090 96.45 % 79.05 February 2006 11 $ 926,818 $ 896,100 96.69 % 50.27 January 2006 11 $ 1,521,000 $ 1,447,977 95.20 % 96.55