Tamara Keilberg's MARKET UPDATE ROANOKE, 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 03, 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
ROANOKE, TX
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in ROANOKE, TX this week is $377,194. The 322 properties have been on the market for an average of 238 days.
Trend
Median List Price
$ 377,194
Average List Price
$ 714,214 $ 113
==
Average Days on Market (DoM)
238
≠≠
Inventory of Properties Listed
322
≠≠
Asking Price Per Square Foot
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.
$ 9,000,000
Least Expensive Listing
$ 68,500
Average Age of Listing
10
Percent of Properties with Price Decrease
34 %
Percent Relisted (reset DOM)
8%
Percent Flip (price increased)
7%
Median House Size (sq ft)
3307
Median Lot Size
Supply and Demand
==
0.25 - 0.50 acre
Median Number of Bedrooms
4.0
Median Number of Bathrooms
3.5
Altos Research Value Statistics
Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer's market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.
Market Action Index
Strong Buyer's
15.8
==
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
$ 1,477,000
5846
0.50 - 1.0 acre
5.0
5.5
5
80
1
1
414
Most expensive 25% of properties
Upper/Second
$ 489,450
4068
0.25 - 0.50 acre
4.0
4.0
6
80
4
3
213
Upper-middle 25% of properties
Lower/Third
$ 287,000
2907
0.25 - 0.50 acre
4.0
2.5
14
81
6
8
205
Lower-middle 25% of properties
Bottom/Fourth
$ 149,900
1832
4,501 6,500 sqft
3.0
2.0
8
81
6
10
122
Least expensive 25% of properties
Page 2 of 6
Monday May 3, 2010
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
ROANOKE, 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. Quartiles 4 and 2 are up while Quartiles 3 and 1 are 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 3 of 6
Second/Upper
Third/Lower
Monday May 3, 2010
Fourth/Bottom
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
ROANOKE, TX
Price per Square Foot The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.
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 6
90-day Average
Monday May 3, 2010
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
ROANOKE, TX
Market Action Index The ROANOKE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 15.79. 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 6
Monday May 3, 2010
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
ROANOKE, TX
Days on Market The properties have been on the market for an average of 238 days. Half of the listings have come newly on the market in the past 133 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 6
Second/Upper
Third/Lower
Monday May 3, 2010
Fourth/Bottom