2010 Year End Market Update

Recap of Year End Update   (Slides below)

Click here to download the 2010 Year End Market Update

• SIR’s market share is commanding:

– Transaction volume (listing + sales) of 56%, more than 3 times that of our closest competitor.

• Total units sold rose 29%

• Jan-11 listings are unchanged vs. 2010

– 22% higher than 2008.

• Average prices of residential units rose 24% to $1.3 million.

• Days on market are up 39% or 79 days.

• Demand in all price categories has increased

– Under $3 million – unit volumes are up 22%

– Over $3 million – unit volumes doubled

• In the <$3 million price range, sales volume jumped 40%

– 54% of the total sales volume in 2010, 66% in 2009.

• Sales volume in the >$3 million price range soared 125%

– 46% of the total sales volume in 2010, 34% in 2009.

• Sales reflect perceived value at the top and the bottom.

Nationally

Continuing economic & political uncertainties affect all markets:

– Taxes & interest rates

– Difficult credit markets

– Higher commodity prices & inflation

– Unemployment remains stubbornly high

• “Shadow un- & under- employed” nearly 18%

– North Africa, the Middle-East & the politics of oil

-The S&P 500 is up 94% from its March 9, 2009 low point and 16% from March 9, 2010

-Economy reporting positive momentum

-Jobs picture improving

-Initial claims for unemployment fell

-Personal income rising

-Auto sales surged 27% vs. Feb-10

-Manufacturing index – highest in 5 years

-Fed “Beige Book” reported improvements in commercial sales and leasing activity.

-Businesses are reporting strong profits.

-GDP is up 5 consecutive quarters following 4 down quarters.

-Bernanke gave upbeat testimony before congress last week.