2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Lakeway  Homes Sold 179 215 247 254 200 241
Avg Sales Price Avg $/Sq.Ft. 109 112 123 131 141 142
$416,620 ADOM 140 141 128 102 80 86
78734 Annual Appreciation -2% 3% 10.0% 6.5% 8.0% 1.0%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Hills of Lkwy Homes Sold 81 86 87 90 62 27
Avg Sales Price Avg $/Sq.Ft. 115 128 134 141 149 152
$501,475 ADOM 217 134 138 142 93 105
  Annual Appreciation -6% 11% 5% 5% 6% 2%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Steiner Ranch Homes Sold 176 216 250 265 302 283
Avg Sales Price Avg $/Sq.Ft. 99 91 107 117 135 133
$423,499 ADOM 127 92 75 68 71 76
  Annual Appreciation 1% -8% 18% 9% 15% -2%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Lake Pointe** Homes Sold 83 75 73 71 59 66
Avg Sales Price Avg $/Sq.Ft. 106 106 112 125 131 141
$427,163 ADOM 142 100 62 37 55 76
  Annual Appreciation 0% 0% 6% 12% 5% 8%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Uplands Homes Sold 17 15 14 14 9 10
Avg Sales Price Avg $/Sq.Ft. 127 143 161 166 141 143
$541,014 ADOM 202 95 85 71 105 109
  Annual Appreciation -7% 13% 13% 3% -15% 1%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Cardinal Hills Homes Sold 11 21 32 36 25 23
Avg Sales Price Avg $/Sq.Ft. 107 110 125 130 147 143
$326,779 ADOM 85 95 144 71 93 84
  Annual Appreciation 3% 3% 14% 4% 13% -3%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Apache Shores Homes Sold 45 68 65 72 82 58
Avg Sales Price Avg $/Sq.Ft. 97 95 111 122 133 129
$219,515 ADOM 104 111 107 72 88 88
  Annual Appreciation 5% 2% 17% 10% 9% -3%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Briarcliff Homes Sold 42 34 37 41 40 44
Avg Sales Price Avg $/Sq.Ft. 93 97 95 108 116 120
$230,708 ADOM 246 157 181 99 87 89
  Annual Appreciation -6% 4% -2% 14% 7% 3%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Vineyard Bay Homes Sold 4 3 8 6 0 2
Avg Sales Price Avg $/Sq.Ft. 189 162 189 201 0 208
$932,500 ADOM 137 244 264 282 0 228
  Annual Appreciation -26% -14% 17% 6% 0% 0%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Costa Bella Homes Sold 2 4 6 5 5 4
Avg Sales Price Avg $/Sq.Ft. 374 199 248 265 279 255
$1,748,813 ADOM 284 134 339 205 154 181
  Annual Appreciation 47% -46% 24% 7% 5% -9%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Alta Vista Homes Sold 14 10 13 11 15 23
Avg Sales Price Avg $/Sq.Ft. 183 179 194 230 157 160
$543,093 ADOM 143 121 238 42 51 88
  Annual Appreciation -19% -2% 8% 19% -46% 2%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Arbolago Homes Sold 1 5 2 5 10 9
Avg Sales Price Avg $/Sq.Ft. 228 207 196 225 237 237
$1,232,167 ADOM 202 245 411 258 132 90
  Annual Appreciation -13% -9% -50% 15% 5% 0%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Bella Montagna Homes Sold     4 4 1 1
Avg Sales Price Avg $/Sq.Ft.     264 199 305 305
$1,400,000 ADOM     121 144 25 25
*Round Mountain Estates Annual Appreciation       -25% 53% 0%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Lakewind Homes Sold 5 4 1 4 2 1
Avg Sales Price Avg $/Sq.Ft. 134 126 150 147 170 152
$675,000 ADOM 354 189 260 94 58 21
  Annual Appreciation   -6% 19% -2% 16% -11%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Flintrock Homes Sold 4 21 20 34 27 25
Avg Sales Price Avg $/Sq.Ft. 141 142 198 201 207 210
$813,096 ADOM 244 221 165 231 166 166
  Annual Appreciation   1% 39% 2% 3% 1%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Spanish Oaks Homes Sold 1 6 5 13 9 6
Avg Sales Price Avg $/Sq.Ft.   245 253 298 301 303
$1,514,000 ADOM 196 238 147 199 134 144
  Annual Appreciation     3% 18% 1% 1%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Falconhead/        Spillman Ranch Homes Sold 7 2 23 25 25 28
Avg Sales Price Avg $/Sq.Ft. No Info 155 125 140 144 140
$468,160 ADOM 95 54 115 133 81 87
  Annual Appreciation     -19% 12% 3% -3%
Subdivision   2003 2004 2005 2006 2007 05/01/2007 Thru 04/30/2008
Spicewood** Homes Sold 123 120 133 127 101 103
Avg Sales Price Avg $/Sq.Ft. 104 112 111 123 132 133
$398,463 ADOM 76 75 66 52 49 56
Includes: Colonia Serendipity, Travis Settlement, Vistas at Bee Cave, Vista Verde, West Cypress Hills, & Crosswind Annual Appreciation   8% -1% 11% 7% 1%