Tamara Keilberg's MARKET UPDATE NORTH RICHLAND HILLS, 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
NORTH RICHLAND HILLS, TX
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in NORTH RICHLAND HILLS, TX this week is $210,000. The 299 properties have been on the market for an average of 109 days.
Trend
Median List Price
$ 210,000
Average List Price
$ 241,445
Asking Price Per Square Foot
$ 88
≠≠
Average Days on Market (DoM)
109
≠≠
Inventory of Properties Listed
299
≠≠
Most Expensive Listing
Inventory is tightening and days-onmarket is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.
$ 1,750,000
Least Expensive Listing
$ 59,000
Average Age of Listing
21
Percent of Properties with Price Decrease
38 %
Percent Relisted (reset DOM)
8%
Percent Flip (price increased)
5%
Median House Size (sq ft)
2301
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. While still a Buyer's market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a Seller's Market.
Market Action Index
Strong Buyer's
18.1
==
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
$ 399,900
3834
0.25 - 0.50 acre
4.0
3.5
5
74
4
5
146
Most expensive 25% of properties
Upper/Second
$ 268,000
2807
8,001 10,000 sqft
4.0
3.0
7
75
6
5
115
Upper-middle 25% of properties
Lower/Third
$ 158,750
1949
8,001 10,000 sqft
3.0
2.0
24
75
7
7
94
Lower-middle 25% of properties
Bottom/Fourth
$ 99,000
1447
8,001 10,000 sqft
3.0
2.0
39
75
5
9
81
Least expensive 25% of properties
Page 2 of 16
Monday May 17, 2010
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
NORTH RICHLAND HILLS, TX
Median Price Price trends continued their recent uptrend this week. While still below the market's price high-point, we've seen a nice run recently.
7-day Average
90-day Average
Quartile Prices Pricing trends have been lacking strong directional indication lately. Only Quartile 3 is trending higher. Look to the Market Action Index for persistent changes (up or down) as a leading indicator for the significant price changes.
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
NORTH RICHLAND HILLS, TX
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 4 of 16
90-day Average
Monday May 17, 2010
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
NORTH RICHLAND HILLS, TX
Market Action Index The NORTH RICHLAND HILLS market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 18.13. 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
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
NORTH RICHLAND HILLS, TX
Days on Market The properties have been on the market for an average of 109 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 17, 2010
Fourth/Bottom
Neighborhood Detail
Single Family Homes in
NORTH RICHLAND HILLS, TX 76182
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in NORTH RICHLAND HILLS, TX 76182 this week is $247,000. The 171 properties have been on the market for an average of 93 days.
Trend
Median List Price
$ 247,000
Average List Price
$ 268,717 $ 93
±+
Average Days on Market (DoM)
93
==
Inventory of Properties Listed
171
≠≠
Asking Price Per Square Foot
Most Expensive Listing
Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the market.
$ 1,750,000
Least Expensive Listing
$ 68,000
Average Age of Listing
17
Percent of Properties with Price Decrease
37 %
Percent Relisted (reset DOM)
10 %
Percent Flip (price increased)
6%
Median House Size (sq ft)
2514
Median Lot Size
Supply and Demand
≠≠
8,001 - 10,000 sqft
Median Number of Bedrooms
4.0
Median Number of Bathrooms
2.5
Altos Research Value Statistics
Home sales have been exceeding new inventory for several weeks. While still a Buyer's market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a Seller's Market.
Market Action Index
Strong Buyer's
17.7
≠≠
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
$ 449,900
3958
0.25 - 0.50 acre
4.0
3.5
4
42
2
3
125
Upper/Second
$ 299,000
2920
0.25 - 0.50 acre
4.0
3.0
9
43
3
2
99
Upper-middle 25% of properties
Lower/Third
$ 179,900
2089
8,001 10,000 sqft
3.0
2.0
19
43
5
2
83
Lower-middle 25% of properties
Bottom/Fourth
$ 105,800
1501
8,001 10,000 sqft
3.0
2.0
32
43
7
6
67
Least expensive 25% of properties
Page 7 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
NORTH RICHLAND HILLS, TX 76182
Median Price Again this week in this zip code we see a downward notch for prices. We continue to pull back from the market's highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
7-day Average
90-day Average
Quartile Prices In the quartile market segments, we see prices in this zip code with a lack of strong directional indication lately. Quartile 4 is down, Quartile 1 is essentially flat, while Quartiles 2 and 3 are up in recent weeks. Slack demand sometimes takes hold at either end of the market and converges on the center. Watch for persistent shifts in the Market Action Index for a leading indicator of stronger price moves in the market as a whole.
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
NORTH RICHLAND HILLS, TX 76182
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 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
NORTH RICHLAND HILLS, TX 76182
Market Action Index The NORTH RICHLAND HILLS, 76182 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 17.71. 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
NORTH RICHLAND HILLS, TX 76182
Days on Market The properties have been on the market for an average of 93 days. Half of the listings have come newly on the market in the past 70 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
NORTH RICHLAND HILLS, TX 76180
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in NORTH RICHLAND HILLS, TX 76180 this week is $159,900. The 128 properties have been on the market for an average of 128 days. The Market Action Index has been climbing lately while days-on-market are trending down, these point to a positive near-term outlook for the market.
Trend
Median List Price
$ 159,900
Average List Price
$ 205,013
Asking Price Per Square Foot
$ 80
≠≠
Average Days on Market (DoM)
128
≠≠
Inventory of Properties Listed
128
±+
Most Expensive Listing
$ 695,000
Least Expensive Listing
$ 59,000
Average Age of Listing
26
Percent of Properties with Price Decrease
38 %
Percent Relisted (reset DOM)
5%
Percent Flip (price increased)
5%
Median House Size (sq ft)
2098
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
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
18.4
==
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
$ 334,500
3459
0.25 - 0.50 acre
4.0
3.0
5
32
2
5
218
Upper/Second
$ 227,425
2726
8,001 10,000 sqft
3.0
2.5
6
32
2
1
99
Upper-middle 25% of properties
Lower/Third
$ 124,900
1821
8,001 10,000 sqft
3.0
2.0
37
32
2
4
98
Lower-middle 25% of properties
Bottom/Fourth
$ 86,488
1369
8,001 10,000 sqft
3.0
2.0
51
32
0
4
99
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
NORTH RICHLAND HILLS, TX 76180
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 price conditions in this zip code have not shown strong directional trends lately. Quartile 3 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
NORTH RICHLAND HILLS, TX 76180
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 relatively steady around these levels in recent weeks.
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
NORTH RICHLAND HILLS, TX 76180
Market Action Index The NORTH RICHLAND HILLS, 76180 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 18.38. 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
NORTH RICHLAND HILLS, TX 76180
Days on Market The properties have been on the market for an average of 128 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