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 June 28, 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 $157,000. The 179 properties have been on the market for an average of 102 days.
The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
Trend
Median List Price
$ 157,000
Average List Price
$ 177,172
Asking Price Per Square Foot
$ 84
≠≠
Average Days on Market (DoM)
102
==
Inventory of Properties Listed
179
==
Most Expensive Listing
$ 636,000
Least Expensive Listing
$ 48,000
Average Age of Listing
29
Percent of Properties with Price Decrease
47 %
Percent Relisted (reset DOM)
10 %
Percent Flip (price increased)
4%
Median House Size (sq ft)
1958
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
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
18.2
≠≠
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
$ 269,900
2798
8,001 10,000 sqft
4.0
3.0
10
44
3
0
116
Upper/Second
$ 175,000
2125
8,001 10,000 sqft
4.0
2.0
20
45
5
1
94
Upper-middle 25% of properties
Lower/Third
$ 135,000
1676
8,001 10,000 sqft
3.0
2.0
38
45
3
0
97
Lower-middle 25% of properties
Bottom/Fourth
$ 99,900
1386
8,001 10,000 sqft
3.0
2.0
51
45
5
1
100
Page 2 of 16
Monday June 28, 2010
Most expensive 25% of properties
Least 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 remained relatively flat. However the recent trends have us pulling back from the market's high points. The Market Action Index is a good leading indicator for the durability of this trend.
7-day Average
90-day Average
Quartile Prices Pricing across most of the market has been relatively strong recently. While Quartile 4 is basically flat, all other segments are in an up trend period. Unless the Market Action Index has a persistent downward shift, expect that Quartile 4 will assume a similar trend with the other groups.
First/Top
Page 3 of 16
Second/Upper
Third/Lower
Monday June 28, 2010
Fourth/Bottom
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, 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 June 28, 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 18.23. 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 June 28, 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 102 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 June 28, 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 $215,000. The 71 properties have been on the market for an average of 112 days.
The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
Trend
Median List Price
$ 215,000
Average List Price
$ 240,890
Asking Price Per Square Foot
$ 93
==
Average Days on Market (DoM)
112
==
Inventory of Properties Listed
71
==
Most Expensive Listing
$ 636,000
Least Expensive Listing
$ 99,900
Average Age of Listing
22
Percent of Properties with Price Decrease
52 %
Percent Relisted (reset DOM)
8%
Percent Flip (price increased)
3%
Median House Size (sq ft)
2319
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
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
17.6
≠≠
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
$ 359,900
3577
8,001 10,000 sqft
4.0
3.5
6
17
1
0
151
Upper/Second
$ 239,910
2491
8,001 10,000 sqft
4.0
2.5
12
18
2
0
79
Upper-middle 25% of properties
Lower/Third
$ 199,900
2132
8,001 10,000 sqft
3.5
2.0
26
18
3
0
103
Lower-middle 25% of properties
Bottom/Fourth
$ 139,700
1736
8,001 10,000 sqft
3.0
2.0
38
18
1
1
116
Least expensive 25% of properties
Page 7 of 16
Monday June 28, 2010
Most expensive 25% of properties
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76054
Median Price Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. 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 lacking strong directional correlation lately. Quartiles 1 and 3 are up while Quartile 4 is down and Quartile 2 is basically flat in recent weeks. 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 June 28, 2010
Fourth/Bottom
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76054
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 9 of 16
90-day Average
Monday June 28, 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 17.64. 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 June 28, 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 112 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 11 of 16
Second/Upper
Third/Lower
Monday June 28, 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 $129,900. The 108 properties have been on the market for an average of 95 days.
Trend
Median List Price
$ 129,900
Average List Price
$ 135,283 $ 78
==
Average Days on Market (DoM)
95
±+
Inventory of Properties Listed
108
==
Asking Price Per Square Foot
With inventory trending up but dayson-market and the Market Action Index essentially flat recently, conditions do not seem to have strong up or down pull.
Most Expensive Listing
$ 270,000
Least Expensive Listing
$ 48,000
Average Age of Listing
33
Percent of Properties with Price Decrease
44 %
Percent Relisted (reset DOM)
11 %
Percent Flip (price increased)
5%
Median House Size (sq ft)
1729
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
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
18.2
±+
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
$ 184,900
2487
8,001 10,000 sqft
4.0
2.0
7
27
2
1
97
Most expensive 25% of properties
Upper/Second
$ 142,500
1826
4,501 6,500 sqft
3.0
2.0
9
27
2
0
97
Upper-middle 25% of properties
Lower/Third
$ 115,000
1529
6,501 8,000 sqft
3.0
2.0
49
27
2
0
91
Lower-middle 25% of properties
Bottom/Fourth
$ 84,900
1320
8,001 10,000 sqft
3.0
2.0
52
27
3
0
96
Least expensive 25% of properties
Page 12 of 16
Monday June 28, 2010
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
HURST, TX 76053
Median Price We continue to see prices in this zip code settled at a plateau. This week prices bumped down a bit but not significantly enough to change the overall outlook. Look for a persistent change (up or down) in the Market Action Index before we see prices significantly deviate from these levels.
7-day Average
90-day Average
Quartile Prices In the quartile market segments, we see prices at the high-end of the market (Quartiles 1 and 2) showing strength. Quartiles 3 and 4 are in a price decline in recent weeks. 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 the lower-half of the market will begin to reverse the trend and push prices higher here too.
First/Top
Page 13 of 16
Second/Upper
Third/Lower
Monday June 28, 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 value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.
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 June 28, 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 18.16. 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 June 28, 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 95 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 June 28, 2010
Fourth/Bottom