Tamara Keilberg's MARKET UPDATE COLLEYVILLE, TX
· Current Real Estate Market Conditions for Single Family Homes · Trends in Pricing · Current Levels of Supply and Demand · Value Metrics
· Report for the week of May 10, 2010
· Presented by Tamara Keilberg Tamara Keilberg Luxury Real Estate www.LuxuryHomesDFW.com - tamara@luxuryhomesdfw.com 817-485-1118
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City Overview
Single Family Homes in
COLLEYVILLE, TX
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in COLLEYVILLE, TX this week is $575,000. The 281 properties have been on the market for an average of 255 days.
Trend
Median List Price
$ 575,000
Average List Price
$ 759,896 $ 135
±+
Average Days on Market (DoM)
255
±+
Inventory of Properties Listed
281
==
Asking Price Per Square Foot
Most Expensive Listing
Demand measured by the Market Action Index is increasing and dayson-market is holding steady. With more properties coming available, conditions are mildly positive.
$ 8,950,000
Least Expensive Listing
$ 159,900
Average Age of Listing
14
Percent of Properties with Price Decrease
38 %
Percent Relisted (reset DOM)
10 %
Percent Flip (price increased)
3%
Median House Size (sq ft)
4156
Median Lot Size
Supply and Demand
==
0.50 - 1.0 acre
Median Number of Bedrooms
4.0
Median Number of Bathrooms
4.0
Altos Research Value Statistics
The market has been consistently cool for several weeks. Demand level are low relative to the available inventory. It's a Buyer's market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.
Market Action Index
Strong Buyer's
14.6
==
The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Trend Key:
±+
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
No change
Characteristics per Quartile Quartile
Median Price
Sq. Ft. Lot Size
Beds
Baths
Age Inventory New
Absorbed
DOM
Top/First
$ 1,074,500
5988
0.50 - 1.0 acre
5.0
5.5
6
70
5
1
343
Most expensive 25% of properties
Upper/Second
$ 695,000
4846
0.50 - 1.0 acre
4.0
4.5
10
70
1
0
276
Upper-middle 25% of properties
Lower/Third
$ 482,500
3858
0.25 - 0.50 acre
4.0
3.5
18
70
8
3
214
Lower-middle 25% of properties
Bottom/Fourth
$ 349,990
3007
0.25 - 0.50 acre
4.0
3.0
21
71
7
7
188
Least expensive 25% of properties
Page 2 of 6
Monday May 10, 2010
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
COLLEYVILLE, TX
Median Price This week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend over the last several weeks.
7-day Average
90-day Average
Quartile Prices Most of the market segments are showing price weakness lately. Notice however, that Quartile 4 at the low-end of the market is still on an up-trend. Often this condition happens in markets where demand has fallen (for example, due to micro-location variables) but supply is still relatively short. Buyers are focusing on the lowest price homes in the area.
First/Top
Page 3 of 6
Second/Upper
Third/Lower
Monday May 10, 2010
Fourth/Bottom
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
COLLEYVILLE, TX
Price per Square Foot In a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.
7-day Average
90-day Average
Inventory of Properties Listed for Sale Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
7-day Average
Page 4 of 6
90-day Average
Monday May 10, 2010
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
COLLEYVILLE, TX
Market Action Index The COLLEYVILLE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 14.62. With several months of inventory available at the current sales rate, buyers should find ample choice.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months of inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market shifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory.
Page 5 of 6
Monday May 10, 2010
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
COLLEYVILLE, TX
Days on Market The properties have been on the market for an average of 255 days. Half of the listings have come newly on the market in the past 189 or so days.
7-day Average
90-day Average
Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top
Page 6 of 6
Second/Upper
Third/Lower
Monday May 10, 2010
Fourth/Bottom