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 17, 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 $154,900. The 167 properties have been on the market for an average of 101 days.
The Market Action Index has been basically flat recently, and days-onmarket decreasing, there are not strong signals for the direction of the market.
Trend
Median List Price
$ 154,900
Average List Price
$ 175,646
Asking Price Per Square Foot
$ 83
==
Average Days on Market (DoM)
101
≠≠
Inventory of Properties Listed
167
±+
Most Expensive Listing
$ 636,000
Least Expensive Listing
$ 48,000
Average Age of Listing
30
Percent of Properties with Price Decrease
43 %
Percent Relisted (reset DOM)
6%
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
20.1
±+
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
$ 269,900
2746
8,001 10,000 sqft
4.0
2.5
9
41
3
4
118
Upper/Second
$ 174,975
2129
8,001 10,000 sqft
4.0
2.0
22
42
4
6
86
Upper-middle 25% of properties
Lower/Third
$ 134,950
1695
8,001 10,000 sqft
3.0
2.0
42
42
1
5
101
Lower-middle 25% of properties
Bottom/Fourth
$ 94,950
1294
8,001 10,000 sqft
3.0
2.0
50
42
2
5
100
Least expensive 25% of properties
Page 2 of 16
Monday May 17, 2010
Most expensive 25% of properties
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX
Median Price This week prices bumped up a bit but the trend of recent weeks is generally downward. The Market Action Index is a good leading indicator for the durability of this trend.
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 17, 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 relatively steady around these levels in recent weeks.
7-day Average
Page 4 of 16
90-day Average
Monday May 17, 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 20.05. 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 17, 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 101 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 6 of 16
Second/Upper
Third/Lower
Monday May 17, 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 $224,000. The 65 properties have been on the market for an average of 107 days.
Inventory is tightening and days-onmarket is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.
Trend
Median List Price
$ 224,000
Average List Price
$ 239,257
Asking Price Per Square Foot
$ 91
±+
Average Days on Market (DoM)
107
≠≠
Inventory of Properties Listed
65
≠≠
Most Expensive Listing
$ 636,000
Least Expensive Listing
$ 112,900
Average Age of Listing
23
Percent of Properties with Price Decrease
43 %
Percent Relisted (reset DOM)
3%
Percent Flip (price increased)
3%
Median House Size (sq ft)
2373
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
19.8
==
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:
±+
== 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
$ 355,950
3430
8,001 10,000 sqft
4.0
3.5
6
16
2
2
138
Upper/Second
$ 242,400
2474
0.25 - 0.50 acre
4.0
2.5
11
16
1
1
90
Upper-middle 25% of properties
Lower/Third
$ 199,900
2272
8,001 10,000 sqft
4.0
2.5
26
16
1
4
65
Lower-middle 25% of properties
Bottom/Fourth
$ 139,900
1710
8,001 10,000 sqft
3.0
2.0
40
17
1
2
133
Page 7 of 16
Monday May 17, 2010
Most expensive 25% of properties
Least expensive 25% of properties
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76054
Median Price The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.
7-day Average
90-day Average
Quartile Prices In the quartile market segments, we see the upper end of the market in this zip code showing signs of strength. While this strength hasn't percolated through to Quartiles 3 and 4 yet, expect the low end of the market to follow up, should the upperend strength continue.
First/Top
Page 8 of 16
Second/Upper
Third/Lower
Monday May 17, 2010
Fourth/Bottom
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76054
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 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 17, 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 19.77. 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 17, 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 107 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 11 of 16
Second/Upper
Third/Lower
Monday May 17, 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 $125,950. The 102 properties have been on the market for an average of 97 days.
Trend
Median List Price
$ 125,950
Average List Price
$ 135,110 $ 76
±+
Average Days on Market (DoM)
97
≠≠
Inventory of Properties Listed
102
==
Asking Price Per Square Foot
Inventory is up and Market Action is trending down recently. While dayson-market appears to be trending lower, the overall conditions are weakening a bit.
Most Expensive Listing
$ 295,000
Least Expensive Listing
$ 48,000
Average Age of Listing
34
Percent of Properties with Price Decrease
43 %
Percent Relisted (reset DOM)
8%
Percent Flip (price increased)
3%
Median House Size (sq ft)
1732
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
19.6
≠≠
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
$ 198,900
2487
6,501 8,000 sqft
4.0
2.0
8
25
1
1
120
Upper/Second
$ 144,900
1870
6,501 8,000 sqft
3.0
2.0
9
25
2
4
88
Upper-middle 25% of properties
Lower/Third
$ 115,750
1562
8,001 10,000 sqft
3.0
2.0
48
26
0
3
89
Lower-middle 25% of properties
Bottom/Fourth
$ 81,450
1210
8,001 10,000 sqft
3.0
2.0
52
26
2
3
91
Least expensive 25% of properties
Page 12 of 16
Monday May 17, 2010
Most expensive 25% of properties
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76053
Median Price This week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. Keep an eye on the Market Action Index for a leading indicator of the duration of this downtrend.
7-day Average
90-day Average
Quartile Prices In the quartile market segments, we see the market's recent price weakness almost across the board. Quartile 2 has been trending up recently, but unless we see a persistent up-shift in the Market Action Index, it will likely resume the trend of the rest of the market.
First/Top
Page 13 of 16
Second/Upper
Third/Lower
Monday May 17, 2010
Fourth/Bottom
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76053
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 17, 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 19.56. 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 17, 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 97 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 16 of 16
Second/Upper
Third/Lower
Monday May 17, 2010
Fourth/Bottom