Tamara Keilberg's MARKET UPDATE HURST, 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
HURST, TX
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in HURST, TX this week is $149,900. The 177 properties have been on the market for an average of 149 days.
Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.
Trend
Median List Price
$ 149,900
Average List Price
$ 173,404
Asking Price Per Square Foot
$ 83
==
Average Days on Market (DoM)
149
==
Inventory of Properties Listed
177
==
Most Expensive Listing
$ 636,000
Least Expensive Listing
$ 48,000
Average Age of Listing
31
Percent of Properties with Price Decrease
44 %
Percent Relisted (reset DOM)
7%
Percent Flip (price increased)
3%
Median House Size (sq ft)
1949
Median Lot Size
Supply and Demand
≠≠
8,001 - 10,000 sqft
Median Number of Bedrooms
3.0
Median Number of Bathrooms
2.0
Altos Research Value Statistics
Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer's market to a Seller's market.
Market Action Index
Strong Buyer's
19.9
==
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
$ 264,900
2697
8,001 10,000 sqft
4.0
2.5
10
44
4
6
174
Most expensive 25% of properties
Upper/Second
$ 174,950
2129
8,001 10,000 sqft
3.5
2.0
22
44
3
2
154
Upper-middle 25% of properties
Lower/Third
$ 132,400
1652
8,001 10,000 sqft
3.0
2.0
44
44
2
3
142
Lower-middle 25% of properties
Bottom/Fourth
$ 99,900
1320
8,001 10,000 sqft
3.0
2.0
51
45
3
8
128
Least expensive 25% of properties
Page 2 of 16
Monday May 10, 2010
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX
Median Price The market has been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
7-day Average
90-day Average
Quartile Prices Prices have generally settled at a plateau, although Quartile 2 has been trending a bit downward in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels.
First/Top
Page 3 of 16
Second/Upper
Third/Lower
Monday May 10, 2010
Fourth/Bottom
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX
Price per Square Foot We're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to microlocation variables.
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 16
90-day Average
Monday May 10, 2010
Single Family Homes in
City Overview
HURST, TX
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
Market Action Index The HURST market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 19.91. 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 16
Monday May 10, 2010
Single Family Homes in
City Overview
HURST, TX
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
Days on Market The properties have been on the market for an average of 149 days. Half of the listings have come newly on the market in the past 77 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 16
Second/Upper
Third/Lower
Monday May 10, 2010
Fourth/Bottom
Neighborhood Detail
Single Family Homes in
HURST, TX 76054
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in HURST, TX 76054 this week is $219,000. The 69 properties have been on the market for an average of 170 days.
Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Trend
Median List Price
$ 219,000
Average List Price
$ 234,137
Asking Price Per Square Foot
$ 90
≠≠
Average Days on Market (DoM)
170
==
Inventory of Properties Listed
69
≠≠
Most Expensive Listing
$ 636,000
Least Expensive Listing
$ 112,900
Average Age of Listing
24
Percent of Properties with Price Decrease
43 %
Percent Relisted (reset DOM)
4%
Percent Flip (price increased)
3%
Median House Size (sq ft)
2379
Median Lot Size
Supply and Demand
==
8,001 - 10,000 sqft
Median Number of Bedrooms
3.0
Median Number of Bathrooms
2.5
Altos Research Value Statistics
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer's market prices are not yet moving higher as excess inventory is consumed. However, the as supply and demand trends continue, the market moves into the Seller's zone, and we are likely to see upward pressure on pricing.
Market Action Index
Strong Buyer's
19.2
==
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
$ 330,000
3314
8,001 10,000 sqft
4.0
3.5
7
17
2
2
194
Most expensive 25% of properties
Upper/Second
$ 239,900
2484
0.25 - 0.50 acre
4.0
2.5
13
17
1
3
152
Upper-middle 25% of properties
Lower/Third
$ 199,900
2265
8,001 10,000 sqft
4.0
2.0
32
17
1
2
107
Lower-middle 25% of properties
Bottom/Fourth
$ 139,900
1745
8,001 10,000 sqft
3.0
2.0
40
18
1
0
222
Least expensive 25% of properties
Page 7 of 16
Monday May 10, 2010
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76054
Median Price In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.
7-day Average
90-day Average
Quartile Prices In the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 2 is on a bit of an up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels.
First/Top
Page 8 of 16
Second/Upper
Third/Lower
Monday May 10, 2010
Fourth/Bottom
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76054
Price per Square Foot This is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at first glance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining. Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also getting more for their money.
7-day Average
90-day Average
Inventory of Properties Listed for Sale Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
7-day Average
Page 9 of 16
90-day Average
Monday May 10, 2010
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76054
Market Action Index The HURST, 76054 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 19.19. 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, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts.
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 10 of 16
Monday May 10, 2010
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76054
Days on Market The properties have been on the market for an average of 170 days. Half of the listings have come newly on the market in the past 56 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 11 of 16
Second/Upper
Third/Lower
Monday May 10, 2010
Fourth/Bottom
Neighborhood Detail
Single Family Homes in
HURST, TX 76053
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in HURST, TX 76053 this week is $120,000. The 108 properties have been on the market for an average of 136 days.
Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.
Trend
Median List Price
$ 120,000
Average List Price
$ 134,602
Asking Price Per Square Foot
$ 76
±+
Average Days on Market (DoM)
136
==
Inventory of Properties Listed
108
==
Most Expensive Listing
$ 295,000
Least Expensive Listing
$ 48,000
Average Age of Listing
35
Percent of Properties with Price Decrease
44 %
Percent Relisted (reset DOM)
8%
Percent Flip (price increased)
4%
Median House Size (sq ft)
1702
Median Lot Size
Supply and Demand
±+
8,001 - 10,000 sqft
Median Number of Bedrooms
3.0
Median Number of Bathrooms
2.0
Altos Research Value Statistics
Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer's market to a Seller's market.
Market Action Index
Strong Buyer's
19.7
==
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
$ 198,900
2487
6,501 8,000 sqft
4.0
2.0
8
27
2
1
150
Most expensive 25% of properties
Upper/Second
$ 142,000
1828
6,501 8,000 sqft
3.0
2.0
10
27
0
2
146
Upper-middle 25% of properties
Lower/Third
$ 114,900
1504
8,001 10,000 sqft
3.0
2.0
48
27
2
2
102
Lower-middle 25% of properties
Bottom/Fourth
$ 81,000
1242
8,001 10,000 sqft
3.0
1.5
52
27
3
7
148
Least expensive 25% of properties
Page 12 of 16
Monday May 10, 2010
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76053
Median Price In the last few weeks we've seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
7-day Average
90-day Average
Quartile Prices In the quartile market segments, we see the market's price weakness evident across the board. Quartiles 1, 2, and 1 have been in price decline in recent weeks, with Quartile 2 remaining basically flat. Look to the Market Action Index as a leading indicator of the bottom of the market.
First/Top
Page 13 of 16
Second/Upper
Third/Lower
Monday May 10, 2010
Fourth/Bottom
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76053
Price per Square Foot The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
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 14 of 16
90-day Average
Monday May 10, 2010
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76053
Market Action Index The HURST, 76053 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 19.68. 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, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts.
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 15 of 16
Monday May 10, 2010
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76053
Days on Market The properties have been on the market for an average of 136 days. Half of the listings have come newly on the market in the past 80 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 16 of 16
Second/Upper
Third/Lower
Monday May 10, 2010
Fourth/Bottom