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 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
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 $206,900. The 1091 properties have been on the market for an average of 109 days.
Trend
Median List Price
$ 206,900
Average List Price
$ 250,090
Asking Price Per Square Foot
$ 82
±+
Average Days on Market (DoM)
109
==
Inventory of Properties Listed
1091
==
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
45 %
Percent Relisted (reset DOM)
9%
Percent Flip (price increased)
5%
Median House Size (sq ft)
2628
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
16.4
==
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:
±+
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
$ 395,950
3808
0.25 - 0.50 acre
4.0
3.5
7
272
22
21
132
Most expensive 25% of properties
Upper/Second
$ 249,900
2893
8,001 10,000 sqft
4.0
2.5
7
273
21
13
112
Upper-middle 25% of properties
Lower/Third
$ 173,000
2365
4,501 6,500 sqft
4.0
2.5
5
273
20
18
99
Lower-middle 25% of properties
Bottom/Fourth
$ 138,000
1860
4,501 6,500 sqft
3.0
2.0
6
273
28
30
92
Least expensive 25% of properties
Page 2 of 16
Monday June 28, 2010
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
KELLER, TX
Median Price The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
7-day Average
90-day Average
Quartile Prices Price weakness is visible almost across the board. Prices in Quartile 4 have been mixed recently, while the rest of the market is trending downward. Look to a strong, persistent up shift in the Market Action Index as a leading indicator of the trough in the market.
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
KELLER, TX
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 4 of 16
90-day Average
Monday June 28, 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 16.39. 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
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
KELLER, 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 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 6 of 16
Second/Upper
Third/Lower
Monday June 28, 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 $299,900. The 430 properties have been on the market for an average of 140 days.
Trend
Median List Price
$ 299,900
Average List Price
$ 340,723
Asking Price Per Square Foot
$ 99
==
Average Days on Market (DoM)
140
==
Inventory of Properties Listed
430
±+
Most Expensive Listing
Days-on-market has been trending up recently but the Market Action Index and inventory levels are basically flat and not providing strong indications for the market.
$ 2,000,000
Least Expensive Listing
$ 69,900
Average Age of Listing
12
Percent of Properties with Price Decrease
49 %
Percent Relisted (reset DOM)
8%
Percent Flip (price increased)
3%
Median House Size (sq ft)
3184
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
16.0
±+
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
$ 524,000
4262
0.25 - 0.50 acre
4.0
4.0
6
107
7
10
143
Most expensive 25% of properties
Upper/Second
$ 349,900
3447
0.25 - 0.50 acre
4.0
3.5
10
107
10
7
138
Upper-middle 25% of properties
Lower/Third
$ 264,745
2900
8,001 10,000 sqft
4.0
3.0
12
108
9
7
144
Lower-middle 25% of properties
Bottom/Fourth
$ 169,900
2182
6,501 8,000 sqft
4.0
2.0
14
108
11
10
138
Least expensive 25% of properties
Page 7 of 16
Monday June 28, 2010
Single Family Homes in
Neighborhood Detail
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
KELLER, TX 76248
Median Price We continue to see prices in this zip code hovering around their high point. 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 prices in this zip code with a lack of strong directional indication lately. Quartiles 2 and 4 are down, while Quartiles 1 and 3 are up 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
KELLER, TX 76248
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 relatively steady around these levels in recent weeks.
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
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 15.98. 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
KELLER, TX 76248
Days on Market The properties have been on the market for an average of 140 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 11 of 16
Second/Upper
Third/Lower
Monday June 28, 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 $169,900. The 661 properties have been on the market for an average of 87 days.
Trend
Median List Price
$ 169,900
Average List Price
$ 191,131 $ 76
±+
Average Days on Market (DoM)
87
==
Inventory of Properties Listed
661
±+
Asking Price Per Square Foot
Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market.
Most Expensive Listing
$ 640,000
Least Expensive Listing
$ 77,500
Average Age of Listing
5
Percent of Properties with Price Decrease
43 %
Percent Relisted (reset DOM)
9%
Percent Flip (price increased)
6%
Median House Size (sq ft)
2358
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
The market has settled in at a relative stasis in inventory and sales conditions. It's a Buyer's market that has seen prices trend lower. Expect that consistent up trends in demand will be required before price trends change significantly.
Market Action Index
Strong Buyer's
16.7
==
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
$ 267,990
3278
8,001 10,000 sqft
4.0
3.0
4
165
12
7
92
Most expensive 25% of properties
Upper/Second
$ 187,813
2549
4,501 6,500 sqft
4.0
2.5
5
165
12
12
94
Upper-middle 25% of properties
Lower/Third
$ 159,000
2162
4,501 6,500 sqft
3.0
2.0
5
165
8
12
81
Lower-middle 25% of properties
Bottom/Fourth
$ 134,450
1842
4,501 6,500 sqft
3.0
2.0
6
166
22
17
81
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
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 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 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
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 relatively steady around these levels in recent weeks.
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
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 16.74. 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
KELLER, TX 76244
Days on Market The properties have been on the market for an average of 87 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 16 of 16
Second/Upper
Third/Lower
Monday June 28, 2010
Fourth/Bottom