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I appreciate the wealth of information on your website about the Charlotte area. As a real estate analyst with projects nationwide, it is nice to see information for the area "as is", without spins and sugar-coating. Thanks again for all of your help, research, and knowledge. D.S. Denver, Colorado

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CHARLES G. GRAHAM, AIA, LAI, MIRM

Charlotte Real Estate Market Report
CHARLOTTE MARKET                  
Cabarrus, Iredell, Mecklenburg, York, Union, Gaston, Lincoln, and Lancaster Counties                  
                       
Key Subdivisions                      
1Q08                      
                       
Percentage Market Shares                  
Ranked by Market Share Twelve Months Ending 1Q08                  
() Place Rankings for the Twelve Months Ending 1Q07                  
                       
            12 Months 12 Months   Average Average  
            Ending Ending   Price Lot Lot/House
  Rank Subdivision     1Q08 1Q08 1Q07 2008 - 2007 12M1Q08 12M1Q08 Ratio
                       
Condominiums                      
  1 AVENUE CONDOS(NIC)     27.23 18.75 NIC NIC $    307,290 $  
  2 TRADEMARK(NIC)     4.58 9.77 NIC NIC 350,759    
  3 COURT 6 CONDO(18)     0.00 3.14 1.43 2.20 148,893    
  4 ALEXANDER CHASE(15)     1.53 2.98 1.70 1.75 158,547    
  5 ADMIRALS QUARTERS(NIC)     6.62 2.58 NIC NIC 140,848    
                       
  TOTAL       39.96 37.22 3.13 11.89      
                       
                       
Town Homes                      
  1 LAKE SHORE(9)     4.68 5.22 2.34 2.23 $    288,326 $  
  2 HANOVER CROSSING(1)     0.00 4.02 5.57 0.72 143,056    
  3 REGENT PARK(4)     1.75 3.69 3.34 1.10 172,449 36,374 21.09
  4 CASCADES/RIVER XNG(13)     3.51 3.55 1.89 1.88 136,603    
  5 STONE CREEK RANCH(24)     5.56 3.51 1.31 2.68 227,717    
                       
  TOTAL       15.50 19.99 14.45 1.38      
                       
                       
Single Family                      
  1 CAROLINA LAKES /SC(1)     3.64 4.05 2.21 1.83 $    306,901 $  
  2 STONE CREEK RANCH(4)     1.26 1.74 1.22 1.43 355,329    
  3 BEREWICK(2)     1.56 1.53 1.62 0.94 259,576 88,880 34.24
  4 MOSS CREEK(3)     1.15 1.26 1.54 0.82 258,875 51,010 19.70
  5 SKYBROOK(51)     1.52 0.91 0.41 2.22 391,652 64,369 16.44
  6 CURETON(38)     0.67 0.80 0.47 1.70 384,626 88,200 22.93
  6 HAMILTON LAKES(53)     0.85 0.80 0.40 2.00 196,051    
  8 REGENT PARK(8)     0.59 0.67 0.86 0.78 241,809 41,440 17.14
  9 BELAIR/CAROLINA LK(NIC)     0.71 0.65 NIC NIC 246,189 49,207 19.99
  10 BROOKHAVEN(24)     0.37 0.64 0.60 1.07 561,657 43,667 7.77
                       
  TOTAL       12.32 13.05 9.33 1.40      
                       
<
Key Subdivisions   Single Family Subdivisions Quintile Ranked
            12 Months 12 Months  
            Ending Ending  
  Rank Subdivision     1Q08 1Q08 1Q07 2007 - 2008
                 
First Quintile: < $ 164,500                
  1 MEADOW HILL(17)     1.12 2.20 0.93 2.37
  2 REID MEADOWS(4)     0.48 2.14 1.63 1.31
  3 CITISIDE PLAZA(30)     2.24 2.08 0.68 3.06
  4 BRANDON RIDGE(1)     0.32 1.79 2.74 0.65
  4 HUNTER PARK(76)     1.60 1.79 0.35 5.11
                 
  TOTAL       5.76 10.00 6.33 1.58
                 
  9 OAKBROOKE/NE(2)     1.28 1.48 1.91 0.77
  13 HATHAWAY HILLS(3)     0.00 1.23 1.71 0.72
  16 MCINTYRE(5)     0.32 1.13 1.46 0.77
                 
                 
Second Quintile: >= $ 164,500 - < $ 209,000                
  1 CAROLINA LAKES /SC(3)     0.76 3.19 1.76 1.81
  2 HAMILTON LAKES(28)     3.03 2.47 0.93 2.66
  3 KINGSTREE(6)     2.08 1.71 1.51 1.13
  4 LEGACY PARK(12)     0.38 1.68 1.25 1.34
  5 CEDAR MILL(NIC)     1.70 1.64 NIC NIC
                 
  TOTAL       7.95 10.69 5.45 1.96
                 
  8 COVENTRY/NE(1)     1.52 1.45 1.91 0.76
  40 MCINTYRE(2)     0.00 0.73 1.86 0.39
  5 MOSS CREEK(4)     2.08 1.64 1.56 1.05
                 
                 
Third Quintile: >= $ 209,000 - < $ 268,000                
  1 CAROLINA LAKES /SC(2)     5.89 4.52 2.84 1.59
  2 BEREWICK(1)     3.25 2.99 2.91 1.03
  3 BELAIR/CAROLINA LK(NIC)     3.05 2.12 NIC NIC
  4 MOSS CREEK(3)     1.83 2.09 2.51 0.83
  5 REGENT PARK(8)     1.63 1.87 1.64 1.14
                 
  TOTAL       15.65 13.59 9.90 1.37
                 
  83 HIGHLAND CREEK/CS(4)     0.00 0.37 2.41 0.15
  43 CURTIS POND(5)     0.20 0.69 2.16 0.32
                 
                 
Fourth Quintile: >= $ 268,000 - < $ 375,000                
  1 CAROLINA LAKES /SC(1)     7.95 7.57 4.16 1.82
  2 STONE CREEK RANCH(3)     3.10 4.10 2.83 1.45
  3 BEREWICK(2)