Explicit Real Estate  U.S. LUXURY HOME SALES VOLUME CLIMBED TO A RECORD $55.9 BILLION IN 2005

Explicit Real Estate (R) System Reported a 24 Percent Increase in Luxury Sales Volume Last Year
Report Highlights Nation's Hottest Luxury Home Markets and Prices

Explicit Real Estate ®, a leader in luxury home sales, today announced that its 2005 total sales volume of luxury homes (valued at $1 million or more) in the United States and Puerto Rico surged to an all-time high of $55.9 billion, surpassing its previous record of $45.2 billion set in 2004, a 24 percent increase. Explicit Real Estate  affiliated companies nationwide participated in more than 31,000 luxury transaction sides in 2005. The average sales price for luxury home transactions listed and/or sold by Explicit Real Estate  affiliated companies in 2005 was $1.79 million.

"The demand for luxury homes continues to be fueled by baby boomers who remain in their prime home buying years," says Jim Gillespie, president and chief executive officer, Real Estate Corporation. "This group has amassed great wealth through investments, inheritances and equity and appreciation of their homes. Their strong buying power, coupled with the historically low mortgage interest rates we have enjoyed over the last few years, have spurred the luxury home buying segment, which also includes second homes and new construction."

In this release, the Explicit Real Estate  organization highlights its top luxury home markets by state and city, and includes a list of its top 50 transactions nationwide. The data provided represents only luxury home sales volume figures.

Highlights from the 2005 Explicit Real Estate ® Luxury Home Sales Report include:

California Continues "Gold Rush" of Luxury Home Sales

• In California, the Explicit Real Estate  organization reported more than six times more sales volume of luxury homes than any other state, at almost $31 billion, representing 55 percent of all Explicit Real Estate  luxury sales.
• The top eight cities with the highest total Explicit Real Estate  luxury home sales volume were all in California, with Los Angeles boasting the highest luxury sales volume in the United States.
• A $39.3 million home sale in Beverly Hills, Calif., was the largest closed transaction side by a U.S. Explicit Real Estate  sales associate in 2005.
• California featured 13 home sales priced between $20 million and $25 million in 2005.

Around the Country

• Florida ranked second in the nation with $5 billion in luxury home sales volume.
• Massachusetts, New Jersey, Illinois, Connecticut, Arizona and New York joined California and Florida as states reporting more than $1 billion in Explicit Real Estate  luxury home sales volume.
• Arizona featured two cities in the top 10 in luxury home sales volume: Paradise Valley ranked ninth with more than $637 million in sales volume, while Scottsdale ranked 10th, reporting over $593 million in sales volume.

Hot Markets

• In 2005, Kansas (309 percent), Idaho (189 percent) and Arizona (177 percent) reported the highest percent increases in luxury home sales volume.
• The top five cities reporting the largest increases in luxury home sales volume in 2005 over 2004 are:
  
  1. Paradise Valley, Ariz., increased 251 percent and jumped 43 places in the ranking.
  2. Scottsdale, Ariz., increased 205 percent, rising 37 places from the 2004 standings.
  3. Glencoe, Ill., climbed 90 percent and is ranked 44th in total luxury home sales volume. Glencoe rose 28 places in the 2005 Explicit Real Estate  luxury market report.
  4. Naples, Fla., increased 82 percent and now is ranked 27th in total sales volume. Naples climbed 17 places from 2004.
  5. Phoenix rose 79 percent and is now ranked 69th in total sales volume. Phoenix soared 44 places in the ranking.

2005 Luxury Market Overview

• The Explicit Real Estate ® brand reported 30,412 transaction sides in luxury homes priced between $1 million and $5 million. This was the brand's most active luxury segment.
• The brand also reported 640 transaction sides in the $5 million to $10 million segment.
• In 2005, the Explicit Real Estate  system reported 118 transaction sides between $10 million and $30 million, and one transactional side over $30 million in 2005.

TOP 30 STATES RANKED BY Explicit Real Estate  LUXURY HOME SALES DOLLAR VOLUME
JANUARY 1 -- DECEMBER 31, 2005
Source: Explicit Real Estate  Real Estate Corporation

State	2005 Rank	2005 Total Sales Volume	2004 Rank	2004 Total Sales Volume	% Change
California	1	$30,713,884,031	1	$25,768,279,929	19%
Florida	2	$5,171,509,336	2	$3,666,385,837	41%
Massachusetts	3	$2,880,542,883	3	$2,749,152,699	5%
New Jersey	4	$2,328,297,230	5	$1,628,931,009	43%
Illinois	5	$2,091,967,784	4	$1,650,398,670	27%
Connecticut	6	$1,779,455,598	6	$1,620,320,279	10%
Arizona	7	$1,588,044,565	12	$572,626,787	177%
New York	8	$1,523,615,164	7	$1,058,260,561	44%
Hawaii	9	$992,037,158	10	$644,356,734	54%
Minnesota	10	$971,187,946	9	$826,910,016	17%
Maryland	11	$895,548,473	11	$606,843,838	48%
Colorado	12	$677,905,501	13	$535,335,134	27%
Virginia	13	$492,056,533	16	$278,735,651	77%
Washington, D.C.	14	$451,888,879	14	$389,537,005	16%
Texas	15	$439,207,148	15	$305,171,856	44%
Georgia	16	$352,651,476	18	$232,747,549	52%
Missouri	17	$287,615,391	20	$146,622,566	96%
Nevada	18	$284,220,624	17	$264,099,843	8%
North Carolina	19	$247,194,793	21	$138,666,405	78%
Pennsylvania	20	$210,986,180	19	$165,449,424	28%
Utah	21	$197,111,249	24	$93,927,366	110%
Michigan	22	$123,937,326	22	$117,465,080	6%
Oregon	23	$116,772,871	26	$88,445,135	32%
Wisconsin	24	$116,316,418	23	$106,863,000	9%
Washington	25	$109,527,450	8	$901,205,662	- 88%

Ohio	26	$108,274,330	27	$86,893,432	25%
Montana	27	$81,859,000	29	$56,118,000	46%
South Carolina	28	$81,500,672	25	$88,726,062	- 8%
New Hampshire	29	$71,048,410	28	$77,940,275	- 9%
Idaho	30	$67,226,100	37	$23,295,000	189%

TOP 75 CITIES RANKED BY Explicit Real Estate ® LUXURY HOME SALES DOLLAR VOLUME
JANUARY 1 -- DECEMBER 31, 2005
Source: Explicit Real Estate  Real Estate Corporation

 

City	State	2005 Rank	2005 Total Sales Volume	2004 Rank	2004 Total Sales Volume	% Change
Los Angeles	CA	1	$2,838,149,176	1	$2,189,498,325	30%
Newport Beach	CA	2	$1,435,546,573	3	$1,229,299,765	17%
San Francisco	CA	3	$1,254,472,594	4	$1,038,578,119	21%
Beverly Hills	CA	4	$1,199,879,311	2	$1,375,892,420	-13%
Malibu	CA	5	$1,033,504,291	5	$978,698,020	6%
Pacific Palisades	CA	6	$744,956,445	8	$615,275,054	21%
Laguna Beach	CA	7	$702,803,649	6	$662,225,729	6%
Palo Alto	CA	8	$641,755,099	10	$531,756,087	21%
Paradise Valley	AZ	9	$637,276,055	52	$181,423,211	251%
Scottsdale	AZ	10	$593,765,310	47	$194,673,871	205%
Santa Monica	CA	11	$586,285,147	9	$565,450,503	4%
Montecito	CA	12	$569,896,943	7	$637,289,500	-11%
Miami Beach	FL	13	$517,538,015	17	$405,006,030	28%
Menlo Park	CA	14	$507,172,659	14	$441,815,426	15%
Saratoga	CA	15	$500,409,291	19	$391,150,024	28%
Newport Coast	CA	16	$469,249,373	20	$387,544,013	21%
Los Altos	CA	17	$461,303,894	11	$496,645,145	- 7%
Los Gatos	CA	18	$458,687,094	12	$479,979,112	- 4%
Washington	DC	19	$451,888,879	21	$385,152,005	17%
Santa Barbara	CA	20	$442,551,700	23	$351,016,611	26%
San Jose	CA	21	$432,382,839	28	$298,564,123	45%
Westport	CT	22	$407,841,177	22	$364,379,923	12%
Chicago	IL	23	$399,802,211	25	$313,467,609	28%
Carmel	CA	24	$387,600,145	27	$307,647,775	26%
Honolulu	HI	25	$374,651,704	18	$392,647,834	- 5%
Atherton	CA	26	$371,463,800	16	$405,379,875	- 8%
Naples	FL	27	$368,874,423	44	$202,210,764	82%
Corona Del Mar	CA	28	$360,259,738	24	$322,554,770	12%
Boston	MA	29	$359,552,248	15	$426,055,817	- 16%
San Diego	CA	30	$355,556,154	41	$211,068,270	68%
Pasadena	CA	31	$349,443,584	30	$284,512,953	23%
Rancho Santa Fe	CA	32	$330,928,107	13	$479,286,732	- 31%
Fort Lauderdale	FL	33	$325,938,842	32	$260,991,690	25%
Miami	FL	34	$320,589,360	42	$209,075,775	53%
Wellesley	MA	35	$311,381,400	29	$298,354,880	4%
Calabasas	CA	36	$303,108,558	26	$313,214,097	- 3%
Woodside	CA	37	$292,901,825	31	$270,676,500	8%
Greenwich	CT	38	$278,953,200	37	$235,790,166	18%
Boca Raton	FL	39	$276,412,761	33	$252,586,851	9%
Pebble Beach	CA	40	$269,250,409	38	$214,866,625	25%
Irvine	CA	41	$254,853,875	35	$241,259,210	6%
Weston	MA	42	$254,340,150	34	$248,993,875	2%
Encino	CA	43	$251,010,226	62	$149,173,250	68%
Glencoe	IL	44	$246,373,214	72	$129,379,880	90%
Portola Valley	CA	45	$241,330,990	45	$201,680,750	20%
Coral Gables	FL