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 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
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 $187,900. The 321 properties have been on the market for an average of 105 days.
Trend
Median List Price
$ 187,900
Average List Price
$ 230,828
Asking Price Per Square Foot
$ 86
≠≠
Average Days on Market (DoM)
105
==
Inventory of Properties Listed
321
==
Most Expensive Listing
The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
$ 1,750,000
Least Expensive Listing
$ 53,000
Average Age of Listing
22
Percent of Properties with Price Decrease
45 %
Percent Relisted (reset DOM)
8%
Percent Flip (price increased)
4%
Median House Size (sq ft)
2217
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 has been consistently cool for several weeks. Demand level are low relative to the available inventory. It's a Buyer's market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.
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
$ 399,700
3832
0.25 - 0.50 acre
4.0
3.5
4
80
4
1
153
Most expensive 25% of properties
Upper/Second
$ 239,950
2685
8,001 10,000 sqft
4.0
2.5
10
80
6
7
101
Upper-middle 25% of properties
Lower/Third
$ 149,900
1838
8,001 10,000 sqft
3.0
2.0
26
80
9
3
90
Lower-middle 25% of properties
Bottom/Fourth
$ 96,500
1438
8,001 10,000 sqft
3.0
2.0
38
81
4
2
78
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
NORTH RICHLAND HILLS, 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 While prices in the upper half of the market has shown essentially mixed pricing lately, the lower half of the market is trending lower. Quartiles 3 and 4 have been in price decline in recent weeks, with Quartiles 1 and 2 remaining basically flat. Look to the Market Action Index as a leading indicator of the bottom of 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
NORTH RICHLAND HILLS, 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
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 17.24. 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
NORTH RICHLAND HILLS, TX
Days on Market The properties have been on the market for an average of 105 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
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 $224,500. The 187 properties have been on the market for an average of 97 days.
Trend
Median List Price
$ 224,500
Average List Price
$ 259,807 $ 90
≠≠
Average Days on Market (DoM)
97
==
Inventory of Properties Listed
187
==
Asking Price Per Square Foot
Most Expensive Listing
The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
$ 1,750,000
Least Expensive Listing
$ 67,000
Average Age of Listing
17
Percent of Properties with Price Decrease
45 %
Percent Relisted (reset DOM)
10 %
Percent Flip (price increased)
4%
Median House Size (sq ft)
2389
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 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
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
$ 449,900
3981
0.25 - 0.50 acre
4.0
3.5
4
46
1
0
132
Most expensive 25% of properties
Upper/Second
$ 285,000
2865
0.25 - 0.50 acre
4.0
2.5
12
47
3
7
108
Upper-middle 25% of properties
Lower/Third
$ 167,900
2042
8,001 10,000 sqft
3.0
2.0
20
47
6
1
91
Lower-middle 25% of properties
Bottom/Fourth
$ 99,900
1448
8,001 10,000 sqft
3.0
2.0
32
47
5
1
56
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
NORTH RICHLAND HILLS, TX 76182
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 the market's price weakness evident across the board. Quartiles 2, 3, and 4 have been in price decline in recent weeks, with Quartile 1 remaining basically flat. Look to the Market Action Index as a leading indicator of the bottom of the market.
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
NORTH RICHLAND HILLS, TX 76182
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 9 of 16
90-day Average
Monday June 28, 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 17.22. 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
NORTH RICHLAND HILLS, TX 76182
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 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 June 28, 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 $149,900. The 134 properties have been on the market for an average of 116 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
$ 149,900
Average List Price
$ 190,388
Asking Price Per Square Foot
$ 79
≠≠
Average Days on Market (DoM)
116
==
Inventory of Properties Listed
134
==
Most Expensive Listing
$ 619,900
Least Expensive Listing
$ 53,000
Average Age of Listing
28
Percent of Properties with Price Decrease
43 %
Percent Relisted (reset DOM)
7%
Percent Flip (price increased)
3%
Median House Size (sq ft)
1964
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
16.9
≠≠
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
$ 328,500
3164
8,001 10,000 sqft
4.0
3.0
5
33
4
1
199
Upper/Second
$ 215,000
2377
8,001 10,000 sqft
4.0
2.5
9
33
0
0
60
Upper-middle 25% of properties
Lower/Third
$ 120,425
1764
8,001 10,000 sqft
3.0
2.0
42
34
2
2
109
Lower-middle 25% of properties
Bottom/Fourth
$ 90,000
1432
8,001 10,000 sqft
3.0
2.0
50
34
2
1
98
Page 12 of 16
Monday June 28, 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
NORTH RICHLAND HILLS, TX 76180
Median Price We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
7-day Average
90-day Average
Quartile Prices In the quartile market segments, we see while the lower-half of the market has seen negative price pressures lately, prices in the upper-half of the market have been mixed. Quartiles 3 and 4 have been in price decline in recent weeks, with Quartiles 1 and 2 remaining basically flat. Look to the Market Action Index as a leading indicator of the bottom of the market.
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
NORTH RICHLAND HILLS, TX 76180
Price per Square Foot While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers are tending to get more home for their money.
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
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 16.87. 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
NORTH RICHLAND HILLS, TX 76180
Days on Market The properties have been on the market for an average of 116 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