2. CCSR-HRSR 09-04-2012 SPEC JOINT

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FOR-SALE MARKET ANALYSIS Elk River For-Sale Resales - 2000 to 2011 $300,000 700 Resales Median Sold Price Average Sold Price $250,000 600 611 $200,000 518 500 cu U a ..../.'/?.<1*-:,- 435 66 439 382 400 v, LP, 398 v m $150,000 f6 cn '^ 353 360 339 300 cc 324 313 $100,000 200 $50,000 100 $0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Year TABLE FS-1 HOME RESALES CITY OF ELK RIVER 2000 to May 2012 No. Avg.Sales Avg.% Med.Sales Median% Days on Market Cumul.DOM' %Lender Year Sold Price Change Price Change Avg. Median Avg. Median Mediated' 2000 353 $172,769 - $159,000 - 49 25 - - - 2001 324 $187,299 8.4% $172,900 8.7% 56 36 - - - 2002 435 $210,268 12.3% $186,000 7.6% 61 38 - - - 2003 466 $227,956 8.4% $208,149 11.9% 61 39 - - - 2004 611 $238,559 4.7% $224,350 7.8% 57 39 - - - 2005 518 $254,038 6.5% $234,900 4.7% 88 61 - - - 2006 439 $248,640 -2.1% $230,000 -2.1% 83 58 169 111 - 2007 360 $233,069 -6.3% $210,450 -8.5% 85 66 206 178 - 2008 339 $201,085 -13.7% $190,000 -9.7% 82 61 180 152 19.8% 2009 398 $166,010 -17.4% $156,500 -17.6% 75 55 163 101 49.5% 2010 313 $173,153 4.3% $160,000 2.2% 70 49 134 77 51.8% 2011 382 $145,781 -15.8% $132,000 -17.5% 88 59 149 106 55.5% 2012* 148 $160,118 9.8% $150,000 13.6% 89 60 121 76 56.8% Total 00'-11' 5,086 Summary 00'to 11' Change -15.6% -17.0% Average 412 $204,886 $188,687 73 52 160 109 *January through May 31st,2012 'Cumulative Days on Market initiated in 2006. Cumulative days equals the number of days on market over the course of the past year(i.e.covers number of days if the property was relisted) 2 Lender Mediated Properties include foreclosures and short sales. ML5 data for this property type began in July 2008. Sources:Regional Multiple Listing Service of Minnesota,Maxfield Research Inc. MAXFIELD RESEARCH INC. 60