Tamara Keilberg's MARKET UPDATE KELLER, 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
KELLER, TX
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in KELLER, TX this week is $201,713. The 1064 properties have been on the market for an average of 129 days.
Trend
Median List Price
$ 201,713
Average List Price
$ 251,408
Asking Price Per Square Foot
$ 82
≠≠
Average Days on Market (DoM)
129
==
Inventory of Properties Listed
1064
==
Most Expensive Listing
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.
$ 2,000,000
Least Expensive Listing
$ 69,900
Average Age of Listing
8
Percent of Properties with Price Decrease
42 %
Percent Relisted (reset DOM)
7%
Percent Flip (price increased)
5%
Median House Size (sq ft)
2638
Median Lot Size
Supply and Demand
≠≠
6,501 - 8,000 sqft
Median Number of Bedrooms
4.0
Median Number of Bathrooms
2.5
Altos Research Value Statistics
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Market Action Index
Strong Buyer's
16.8
==
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:
±+
No change
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
Characteristics per Quartile Quartile
Median Price
Sq. Ft. Lot Size
Beds
Baths
Age Inventory New
Absorbed
DOM
Top/First
$ 389,900
3806
0.25 - 0.50 acre
4.0
3.5
7
266
25
15
184
Most expensive 25% of properties
Upper/Second
$ 249,900
2950
8,001 10,000 sqft
4.0
3.0
6
266
14
17
131
Upper-middle 25% of properties
Lower/Third
$ 174,900
2390
4,501 6,500 sqft
4.0
2.5
5
266
19
15
101
Lower-middle 25% of properties
Bottom/Fourth
$ 139,970
1847
4,501 6,500 sqft
3.0
2.0
6
266
28
23
98
Page 2 of 16
Monday May 10, 2010
Least expensive 25% of properties
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
KELLER, 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 1 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 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
KELLER, TX
Price per Square Foot The market's downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities.
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
KELLER, TX
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
Market Action Index The KELLER market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 16.81. 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
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
KELLER, TX
Days on Market The properties have been on the market for an average of 129 days. Half of the listings have come newly on the market in the past 63 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
KELLER, TX 76248
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in KELLER, TX 76248 this week is $299,950. The 416 properties have been on the market for an average of 209 days.
Trend
Median List Price
$ 299,950
Average List Price
$ 339,187
Asking Price Per Square Foot
$ 96
==
Average Days on Market (DoM)
209
≠≠
Inventory of Properties Listed
416
==
Most Expensive Listing
Demand measured by the Market Action Index is increasing and dayson-market is trending downward. Even as more properties come available, these are positive trends for the market.
$ 2,000,000
Least Expensive Listing
$ 69,900
Average Age of Listing
12
Percent of Properties with Price Decrease
42 %
Percent Relisted (reset DOM)
8%
Percent Flip (price increased)
3%
Median House Size (sq ft)
3155
Median Lot Size
Supply and Demand
==
0.25 - 0.50 acre
Median Number of Bedrooms
4.0
Median Number of Bathrooms
3.0
Altos Research Value Statistics
In terms of supply and demand, the market is getting cooler - more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer's market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics
Market Action Index
Strong Buyer's
16.1
==
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
$ 522,445
4228
0.25 - 0.50 acre
4.0
4.0
6
104
9
3
209
Most expensive 25% of properties
Upper/Second
$ 349,450
3462
0.25 - 0.50 acre
4.0
3.5
9
104
12
10
194
Upper-middle 25% of properties
Lower/Third
$ 266,500
2946
8,001 10,000 sqft
4.0
3.0
12
104
4
8
204
Lower-middle 25% of properties
Bottom/Fourth
$ 157,470
1921
6,501 8,000 sqft
3.0
2.0
11
104
15
6
230
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
KELLER, TX 76248
Median Price While this week the median price in this zip code didn't fluctuate much, we continue to sit at all time high prices. Watch for persistent downward shift in the Market Action Index into the Buyer's zone as a leading indicator of the price strength subsiding.
7-day Average
90-day Average
Quartile Prices In most of the quartile market segments, we see prices in this zip code showing strength. Only Quartile 4 is in a price decline. Typically this condition is temporary because price increases at the upper end of the market force buyers to consider the segments still in their price range. Watch the Market Action Index to determine whether demand in Quartile 4 will begin to reverse the trend and push prices higher here too.
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
KELLER, TX 76248
Price per Square Foot The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.
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 9 of 16
90-day Average
Monday May 10, 2010
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
KELLER, TX 76248
Market Action Index The KELLER, 76248 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 16.08. 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
KELLER, TX 76248
Days on Market The properties have been on the market for an average of 209 days. Half of the listings have come newly on the market in the past 98 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
KELLER, TX 76244
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in KELLER, TX 76244 this week is $173,900. The 648 properties have been on the market for an average of 76 days.
Trend
Median List Price
$ 173,900
Average List Price
$ 195,056 $ 77
±+
Average Days on Market (DoM)
76
==
Inventory of Properties Listed
648
==
Asking Price Per Square Foot
Inventory and days-on-market are climbing, while the Market Action Index has been flat recently. The trends point to a weakening market.
Most Expensive Listing
$ 640,000
Least Expensive Listing
$ 109,500
Average Age of Listing
5
Percent of Properties with Price Decrease
42 %
Percent Relisted (reset DOM)
6%
Percent Flip (price increased)
6%
Median House Size (sq ft)
2402
Median Lot Size
Supply and Demand
≠≠
4,501 - 6,500 sqft
Median Number of Bedrooms
4.0
Median Number of Bathrooms
2.5
Altos Research Value Statistics
Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer's market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.
Market Action Index
Strong Buyer's
17.2
±+
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
$ 270,904
3366
8,001 10,000 sqft
4.0
3.0
4
162
9
8
90
Most expensive 25% of properties
Upper/Second
$ 189,900
2581
6,501 8,000 sqft
4.0
2.5
5
162
8
13
75
Upper-middle 25% of properties
Lower/Third
$ 160,775
2166
4,501 6,500 sqft
3.0
2.0
5
162
11
4
65
Lower-middle 25% of properties
Bottom/Fourth
$ 139,000
1860
4,501 6,500 sqft
3.0
2.0
6
162
18
18
73
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
KELLER, TX 76244
Median Price Prices in this zip code have 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 In the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 1 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 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
KELLER, TX 76244
Price per Square Foot Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of the market being priced at a premium. You can investigate this condition in the quartile details.
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
KELLER, TX 76244
Market Action Index The KELLER, 76244 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 17.20. 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
KELLER, TX 76244
Days on Market The properties have been on the market for an average of 76 days. Half of the listings have come newly on the market in the past 49 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