SueAdler 2016 Summit Summary

REAL ESTATE MARKET REVIEW Presented bysueadler team



Dear Neighbor,It is a pleasure to share with you our annual review of the Mid-TownDirect Train Line residential real estate market. Now that 2016 hascome to a close, we’ve compiled and analyzed extensive researchon the state of the market over the past year, as well as insight intothe projected trends for 2017. We’ve broken down each town byprice bracket to give you, the local homeowner, a true sense of thereal estate market for your community. We hope you find thisinformation useful, and that you’ll feel free to share with yourfriends and family.We’re excited to report that the trend for New Jersey economicgrowth continues to be strong, in part due to the New York City joband wealth creation. This is especially evident along the Mid-TownDirect Train Line, which includes the towns of Chatham, Madison,Maplewood, Millburn, New Providence, Short Hills, South Orangeand Summit. While the New Jersey post-recession job recovery rateis an extremely healthy 97%, the NYC rate has skyrocketed at 326%.This boom in job and wealth directly fuels the housing market in ourcommunities, in large part due to the ease of commute.The average price point in these towns continues to increase aswell, rising 1.3% or roughly $11,000 over 2015. One important trendis the average days on market, which remains strong, and combinedwith the drop in new listings, 2016 was a sellers market overall. Wehave an inventory shortage which means that homes sell quickly,often with multiple offers. There are buyers waiting in all pricepoints, so if you, or someone you know, has been considering sellingyour home, now is a great time2016 was an exciting year for the Sue Adler Team. For the fourthyear in a row, we were ranked #1 in the Garden State MLS for themost dollar production. Thanks to the referrals from our clients andthe community, we were able to bring nearly 200 families to theclosing table, as well give back $20,000 to local charities throughour 100th Home Sale Charity Program.Our entire team is proud to live, work and serve in our beautifulcommunities, and we are extremely grateful for the opportunity tomake a difference in your life. Yours to count on, The Sue Adler Team

Sue Adler Team’s Market Commentary of GSMLS DataAvErAGE DAYS ON MArkET OriGiNAL LiST pricE TO SALE pricE80 100%60 70 65 98% 99 98 63 56 96% 9740 46 44 45 9620 94% 92% 93 93 930 2011 2012 2013 2014 2015 2016 90% 2011 2012 2013 2014 2015 2016 2010 2010The average days on market for the Mid-Town Direct Train Line This year we looked at original list to sale price, rather than list toTowns increased by 1 day from 2015. The slight increase is sale price like prior years. This allows us to factor in priceessentially on par with 2014. We plan to see days on market reductions and show a true picture of the market. As you candecrease in 2017 as inventory levels are at almost historic lows see, 2016 was a very strong year in real estate with a near perfectand yet buyer interest remains extremely high. original list to sale price ratio. We expect to continue to see this again in 2017, especially in the entry to mid-level market place.HOME SALES BY pricE rANGE The luxury market continues to have more inventory than buyers, causing the original list to sale price ratio to be much lower for Average Days Average List many of the properties as we employ necessary price reductions. Please consult page 6 for your town’s market breakdown.Price Range on Market Number of Sales to Sale$1M or less 42 1,201 100.4%$1M-$2M 43 397 98.4% iNvENTOrY & SALES$2M or more 80 94 95.1% 3,000 Inventory Sales 2,500 2,492 1,321SELLiNG pricES 2,000 2,287$900K 898,437 1,500 1,204 887,263 2,210 1,000 1,288850K 860,507 2,313 846,200 1,652 500 2,440 1,590 2,527 1,688 2,447 1,692800K 813,233 0 2010 2011 2012 2013 2014 2015 2016750K 785,274 768,112 Inventory levels dropped for the first time in 4 years not just locally, but nationally as well. The market was very healthy for the 700K first three quarters. We believe that the election had a strong 2010 2011 2012 2013 2014 2015 2016 effect on our local markets as we saw a pause in the fourth quarter. Even though inventory went down, sales numbers went up again,Average Sale Price continued to climb from 2015 to 2016. indicating a strengthening sellers’ market. In early 2017, we areCompared to the low in 2011, prices are up 16.9%. While the continuing to see historic lows in inventory with a high demandgeneral market continues to see record growth, the luxury from buyers in the entry and mid-level price range.markets have not bounced back to the same degree. DwindlingWall Street bonuses combined with fewer buyers qualified orwilling to purchase in the highest price points have slowed thismarket. That being said, the entry-level single-family market hassurpassed the peak of 2007.SALES BY TOWN350 2012 2013 2014 2015 2016300250 251200 324150 296100 322 349 50 251 0 322 329 311 300 81 81 98 117 135 138 179 188 209 159 178 221 255 268 241 128 178 164 177 194 261 283 260 284 314 117 165 127 177 160 Maplewood Millburn Chatham Chatham South Orange Madison Summit New Providence Boro Township4 | THE SuE ADLEr TEAM DATA SouRcE: GSMLS

HiGHEST SALE pricE in early 2017, we are continuing to see$4,625,000 historic lows in inventory with a high demand from buyers in the entry and mid-level price range.399,479$Average Sale price2 bedrooms680,956$Average Sale price3 bedrooms Average Sale price 2 bedrooms 399,479881,429Average Sale price $ $4 bedrooms1,374,6835+ bedrooms$Average Sale price1.3% APRIL saw the most listings average increase go under contract in sales price 39.25 {889sold at or OF2015-2016 above list price % 2,265 973.936.9129 www.sueadler.com | 5

2016 Home Sale StatisticsSUMMIT 2016 HOUSING OVERVIEW Arrows indicate difference from 2015.TOTAL TOTAL AVERAGE DAYS AVERAGE LIST TO SUE ADLER TEAM LIST TOLISTED: 450 TRANSACTIONS: 315 ON MARKET: 50 SALE PRICE: 94.67% SALE PRICE RATIO: 99% UNDER Total Listed: 70$500,000 Transactions: 78 Average Days on Market: 53 Original List to Sale Price: 94.95% Sold At or Above List Price: 24 $500,001 Total Listed: 135 TO Transactions: 124 Average Days on Market: 34$1,000,000 Original List to Sale Price: 97.05% Sold At or Above List Price: 53$1,000,001 Total Listed: 89 TO Transactions: 67 Average Days on Market: 38$1,500,000 Original List to Sale Price: 95.20% Sold At or Above List Price: 25$1,500,001 Total Listed: 58 TO Transactions: 31 Average Days on Market: 46$2,000,000 Original List to Sale Price: 93.07% Sold At or Above List Price: 10 OVER Total Listed: 41 $2,000,001 Transactions: 15 Average Days on Market: 786 | THE SUE ADLER TEAM 973.936.9129 www.sueadler.com Original List to Sale Price: 93.1% Sold At or Above List Price: 3

About the Sue Adler Team • #1 producing team in New Jersey the past four years for dollar volume production according to real Trends/ Wall Street Journal List of Top Agents in the uSA • Sue Adler Team's overall average list to sale price ratio: 100.7%Thinking about selling in 2017?Call 973.936.9129 and visit PriceMyNJHome.comfor your complimentary consultation.Thinking of moving? Your team matters!Our in-house team of specialists help our sellers get top dollar by showcasing your home in the best light possible!professional kitchenphotography Makeover Before BeforeStaging After After Twilight photography and Enhanced curb AppealBefore Before After AfterAerial paint Makesphotography a DifferenceBefore Before After After 973.936.9129 www.sueadler.com | 7

Keller Williams Realty Premier Properties488 Springfield Avenue, Summit, NJ [email protected] your property is currently listed this is not intended as a solicitation.Call 973.936.9129 for your comprehensive listing success strategy!Seller Success Stories from 2016 Giorgio De Santis The Sue Adler Team helped Giorgio navigate a tricky luxury market. We received an offer from a local couple, which led to long, drawn-out negotiations. We truly believed we could get more than what these buyers were willing to pay. Then relocation buyers, who had been focusing on a different town, noticed our listing online and fell in love with it. Before hopping on the plane back to Europe, they came with their Realtor to see the house and offered to pay full price with the condition that we do not go back to the buyers who had already put in an offer. The sellers happily accepted their terms. Sure enough, the local buyers then submitted a comparable offer in attorney review, and the seller kept his word and stuck with the relocation buyer’s offer. Closing went off without a hitch and both buyer and seller were happy! Read what Giorgio has to say at sueadler.com/giorgio David and Miwa Richards: The Richards were relocating to Tokyo and The Sue Adler Team helped them navigate two offers, both with home sale contingencies. Both potential buyers listed their homes only to purchase the Richards’ house, which remained on the market until we had a solid buyer. Coincidently, both buyers went into attorney review on their homes at the exact same time. We had both parties conduct inspections so everything was laid out on the table, and they both also waived their home sale contingencies at that point. Making the decision on which offer would be the most solid deal was a well thought-out process, and took a great deal of experience and strategy. “Sue was a steady, smart and reliable partner in this challenging process and we feel she and her team delivered the best possible outcome for us.” Read what David and Miwa have to say at sueadler.com/richards Josh and Jen Sanders: Josh and Jen had bought their house just 2 years before and were concerned that they wouldn’t be able to get their money out. Their kitchen and baths were original. We advised them to paint their cabinets white, change the ’countertop, add a white subway tile backsplash and new knobs. We also advised them to paint the dark paneling in the basement white and have the house staged. We were able to generate multiple offers and the Sanders received $80,000 more than what they had paid just two years prior. Read what Josh and Jen have to say at sueadler.com/sanders The Sue Adler Team is excited to announce the start of our second annual 100th home sale. We will be giving away $20,000 to six local charities chosen by the community after the close of our 100th home sale of 2017! Visit SueAdler.com/100home and vote daily to support your charity in the race to receive the most votes and a donation of $10,000. Interested in how you can be the 100th home sale of 2017? Call 973-936-9129 to find out how. Visit www.SueAdler.com for more information about how to vote for your favorite charity!