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2009-2010 Closings: Madison County Land

Brief Commentary: Commercial transactions have been excluded. The 10 year average in this size range is 58 transactions/year. There were 10 such transactions in 2009, a decline of 83%. As of 03/29/10 there were 2 sales pending.

Current listings in terms of dollars range from $75K for 9.3 acres, up to $970K for 33.3 acres. There are 175 active listings which equates to 205.9 months of supply and the average days on market, (DOM), is 328.

Closings 5-50 Acres: As Of 03/31/10

Location Date	Size & Sell Price	$/Acre	Salient Features
2009 Totals	109.67 acres @ $896.5K	$8175/acre	10 transactions, itemized below.
40 Lot A Ivy Trails on Buncombe Line 04/22/09	6.58 acres @ $70.0	$10,638/acre	Elev 2200 Ft +, Corner lot, barn, stream, rolling pasture, sunshine, great access to 25/70, some deed restrictions, had survey on file.
Banjo Branch Mars Hill 07/21/09	5.33 acres @ $70.0	$13,133/acre	2000 ft +, paved access, minutes from I-26 and town, private, nicely wooded, some deed restrictions, partially fenced, zoning, R-1.
250 Catawba Dr Marshall 07/22/09	10.0 acres @ $100.0	$10,000/acre	2000 ft +, open, pasture, sunshine, flat, views, remote, essentially located in Revere.
00 West Rd Hot Springs 07/30/09	10.45 acres @ $77.0	$7,368/acre	2500 ft +, paved access, wooded, nice views, remote, Spring Creek area, new-ish neighborhood.
380 Running Bear Spring Creek 09/02/09	5.6 acres @ $54.5	$9732/acre	3000 ft +, springs, flat, sunshine, long views, very nice.
000 Baker Creek Marshall 10/15/09	37.29 acres @ $150.0	$4,023/acre	2500 ft +, bold creek, waterfalls, seasonal views, springs, remote.
00 Watershed Rd Mars Hill-W Laurel 10/31/09	7.3 acres @ $78.0	$10,685/acre	3500 ft +, paved access, not steep, minutes from I-26, multi springs and home sites.
999 Crooked Creek Mars Hill 11/09/09	7.12 acres @ $117.0	$16,250/acre	2400 ft +, creek, open, flat, sunny, barn, access to I-26, in sub division, some deed restrictions.
999999 Running Bear- Meadow Fork 12/22/09	15.0 acres @ $125K	$8333/acre	4000-4500 ft. Elev, cleared mountain top with driveway, Adjoins Nat. Forest , great Views, Pasture, Private, some deed restrictions.
Lot 2 Roaring Fork Rd. Mars Hill, Exit 3 12/24/09	5.0 acres @ $55K	$11000/acre	3500 Ft elev, stream, some views, partly cleared home site, driveway, some deed restrictions, UG utils, in partly failed sub division.
2009 Totals	109.67 acres @ $896.5K	$8175/acre	10 transactions
000 Wilson Br, Laurel Valley, Exit 3 02/11/10	36.21 acres @ $250K	$6904/acre	Elev 3500 + Ft, rolling, no special views, private, good sun, close to I-26.
8878 Meadow Fork Farm Hot Springs 03/31/10	42.0 acres @ $325K	$7738/acre	Elev 3000 ft, creek & springs, nice views, adjoins Nat Forest, open, pasture, sunny rolling, paved access, barn, well, septic, plus 2 homes, each with 2 BR, 1 BA.