AVERAGE SALES PRICE VS. LIST PRICE  SALES PRICE PER SQUARE FT.
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PALO ALTO 94306 PALO ALTO  94306                  Avg. sales price vs. list price:
         
Quarter and Avg. List Price Avg. Sales Price Avg. % Quarter and    $ per    Sales Price  
Year $ $   Year    SQ FT    Vs.   
            List Price  
Qtr 4 2001 ----        785,109          749,439 95% Qtr 4 2001 ----     560 95%
Qtr 1 2002 ----        900,291          915,245 102% Qtr 1 2002 ----     565 103%  
Qtr 2 2002 ----        947,114          987,066 104% Qtr 2 2002 ----     598 105%
Qtr 3 2002 ----        912,530          937,467 103% Qtr 3 2002 ----     567 103%
Qtr 4 2002 ----        910,128          874,431 96% Qtr 4 2002 ----     585 97%
Qtr 1 2003 ----      1,089,623       1,107,047 102% Qtr 1 2003 ----     586 101%                     Sales price per sq. ft.:
Qtr 2 2003 ----      1,054,572       1,027,696 97% Qtr 2 2003 ----     554 99%                      
Qtr 3 2003 ----        991,059          979,015 99% Qtr 3 2003 ----     568 100%
Qtr 4 2003 ----        924,069          937,799 101% Qtr 4 2003 ----     586 102%
Qtr 1 2004 ----      1,097,249       1,133,212 103% Qtr 1 2004 ----     609 104%  
Qtr 2 2004 ----      1,091,468       1,135,073 104% Qtr 2 2004 ----     639 105%  
Qtr 3 2004 ----      1,137,384       1,140,791 100% Qtr 3 2004 ----     609 104%  
Qtr 4 2004 ----      1,220,641       1,269,025 104% Qtr 4 2004 ----     639 105%  
Qtr 1 2005 ----      1,171,398       1,326,347 113% Qtr 1 2005 ----     698 103% :
Qtr 2 2005 ----      1,145,169       1,262,296 110%   Qtr 2 2005 ----     669 99%  
Qtr 3 2005 ----      1,196,257       1,257,752 105% Qtr 3 2005 ----     749 99%
Qtr 4 2005 ----      1,034,164       1,076,978 104% Qtr 4 2005 ----     677 103%
Qtr 1 2006 ----      1,290,905       1,324,182 103% Qtr 1 2006 ----     690 104%                      Average sales price trend:
Qtr 2 2006 ----      1,241,616       1,288,078 104% Qtr 2 2006 ----     749 104%                    
Qtr 3 2006 ----      1,228,032       1,270,553 103% Qtr 3 2006 ----     766 97%
Qtr 4 2006 ----      1,320,603       1,334,436 101% Qtr 4 2006 ----     753 102%
Qtr 1 2007 ----      1,509,940       1,555,294 103% Qtr 1 2007 ----     797 104%
Qtr 2 2007 ----      1,472,333       1,584,547 108% Qtr 2 2007 ----     898 109%  
Qtr 3 2007 ----      1,422,909       1,536,152 108% Qtr 3 2007 ----     979 110%  
Qtr 4 2007 ----      1,443,175       1,538,367 107%   Qtr 4 2007 ---- 803 100%  
Qtr 1 2008 ----      1,648,000       1,737,136 105%   Qtr 1 2008 ---- 928 107%  
Qtr 2 2008 ----      1,426,974       1,495,893 105%   Qtr 2 2008 ---- 838 105%  
Qtr 3 2008 ----      1,501,281       1,532,236 102%   Qtr 3 2008 ---- 843 102%  
Qtr 4 2008 ---- 1,379,586 1,369,522 99% Qtr 4 2008 ---- 822 100%
Qtr 1 2009 ---- 1,450,386 1,404,686 97%   Qtr 1 2009 ---- 678 97%  
Qtr 2 2009 ---- 1,370,108 1,363,833 100%   Qtr 2 2009 ---- 705 100%  
Qtr 3 2009 ---- 1,369,219 1,332,899 97%   Qtr 3 2009---- 679 98%  
Qtr 4 2009 ---- 1,508,886 1,497,571 99%   Qtr 4 2009 ---- 744 101%  
Qtr 1 2010 ---- 1,308,560 1,312,654 100%   Qtr 1 2010 ---- 682 102%  
Qtr 2 2010 ---- 1,454,059 1,458,395 100%   Qtr 2 2010 ---- 765 101%  
Qtr 3 2010 ---- 1,412,113 1,439,438 102%   Qtr 3 2010 ---- 751 97%  
Qtr 4 2010 ---- 1,332,226 1,327,417 100%   Qtr 4 2010 ---- 774 100%  
Qtr 1 2011 ---- 1,400,378 1,387,366 99%   Qtr 1 2011 ---- 785 100%  
Qtr 2 2011 ---- 1,288,285 1,462,224 105%   Qtr 2 2011 ---- 853 107%  
Qtr 3 2011 ---- 1.378,610 1,436,337 105%   Qtr 3 2011 --- 800 104%  
10/1-12/4/11 1,316,375 1,346,375 102%   10/1-12/4/11 821 104%