1. Jan-Nov 2014 “Market Stats” Florida Keys

2. Florida Keys Real Estate Market Jan-Nov 2014 Vs. 2013 Upper KeysMiddle KeysLower KeysKey WestAll Areas Lower Matecumbe- KL 7 Mile Bridge-Long Key Bay Point-Big PineKW-Shark KeyKeys-wide 2013 Number of Sales As of 11/30/14 +7% More 844 +15% More 511 +3% More 467 +6% More 741 +7% More 2,563 2,389 Avg. Sale Price As of 11/30/14 +15% More $479K No Change $406K -4% Less $354K +20% More $654K +11% More $492K $443K $ Value of Sales As of 11/30/14 +23% More $405M +15% More $207M -1% Less $165M +27% More $485M +19% More $1.26Billion $1.06B Sale Price to Origin al List Price Nov‘14 +9% More 89.78% +5% More 88.60% +6% More 88.60% +7% More 84.63% +7% More 89.40% 82.44% Sale Price to Final List Price Nov ‘14 +1% More 92.80% No Change 91.88% +3% More 92.92% +1%More 95.47% +1% More 93.27% 91.90% Avg. Days to Sell As of 11/31/14 -22% Less 222 +1% More 236 -10% Less 209 -25% Less 192 -15%Less 215 252 Pending Transactions at the end of Nov 2014 51 (Nov # Sales 68) 40 (Nov # Sales 28) 37 (Nov # Sales 25) 17 (Nov # Sales 54) 145 (Nov # Sales 175) N/A Listed Properties As of 11/30/14 -3% Less 802 -15% Less 492 -13% Less 483 +1% More 787 -6% Less 2,564 2,734 Avg. “List Price” As of 11/30/14 +27% More $941K +13% More $716K +7% More $609K +2% More $749K +13% More $776 $684K Mths of Inventory As of 11/30/14 -9% Less 10 -26% Less 11 -15% Less 11 No Change 12 -13% Less 11 13

3. Number Properties Available Vs. Sold – Keys-Wide Source: Florida Keys MLS -27% 2,564 3,310 113 175 -23% +55% 2011201220142013

4. Coldwell Banker & Offices Market Share Ranking Jan-Nov 2014

5. Key Wide Market Share Jan-Nov 2014 Key West to Key Largo (MM 0 - 107)

6. Lower to Upper Keys Market Share Jan-Nov 2014 Lower Keys to Upper Keys (MM 10 - 107)

7. Middle Keys Market Share Jan-Nov 2014 Middle Keys (MM 47 - 67) Off # Listed Listing % Mkt # Sales Sides Sales % Market $ Volume Sales MM $ Volume % Mkt. ‘14‘13‘14‘13‘14‘13‘14‘13‘14‘13‘14‘13 CBSREC 118728838.150.034332633.536.7$137$13433.037.3 ACRE-MK 1769115.415.816618716.221.1$79$9419.128.3 RE/Max All Keys 1585311.99.211510311.311.6$31 7.69.4 Island Breeze 115313.05.353355.13.9$21$135.24.0 Key Colony Beach 121254.24.347154.61.6$17$6.04.11.9 C-21 Schwartz 133326.75.559375.84.1$16$11.13.93.3

8. Lower Keys Market Share Jan-Nov 2014 Lower Keys (MM 10 - 47)

9. Key West Market Share Jan-Nov 2014 Key West (MM 0 - 10)

10. Upper Keys Market Share Jan-Nov 2014 Upper Keys (MM 67 - 107)