Tamara Keilberg's MARKET UPDATE SOUTHLAKE, 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
SOUTHLAKE, TX
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
This Week
Real-Time Market Profile
The median list price in SOUTHLAKE, TX this week is $653,250. The 342 properties have been on the market for an average of 255 days.
Trend
Median List Price
$ 653,250
Average List Price
$ 882,812 $ 149
≠≠
Average Days on Market (DoM)
255
≠≠
Inventory of Properties Listed
342
==
Asking Price Per Square Foot
Most Expensive Listing
Inventory is up and Market Action is trending down recently. While dayson-market appears to be trending lower, the overall conditions are weakening a bit.
$ 5,595,000
Least Expensive Listing
$ 130,550
Average Age of Listing
11
Percent of Properties with Price Decrease
35 %
Percent Relisted (reset DOM)
6%
Percent Flip (price increased)
2%
Median House Size (sq ft)
4420
Median Lot Size
Supply and Demand
±+
0.50 - 1.0 acre
Median Number of Bedrooms
5.0
Median Number of Bathrooms
4.0
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
13.5
≠≠
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
$ 1,450,000
6490
1.0 - 2.5 acres
5.0
6.0
4
85
2
3
352
Most expensive 25% of properties
Upper/Second
$ 759,000
4981
0.25 - 0.50 acre
5.0
4.5
6
85
3
3
276
Upper-middle 25% of properties
Lower/Third
$ 562,500
4170
0.50 - 1.0 acre
4.0
4.0
13
86
4
5
194
Lower-middle 25% of properties
Bottom/Fourth
$ 429,000
3434
0.25 - 0.50 acre
4.0
3.2
16
86
2
5
201
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
SOUTHLAKE, 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 While prices at the lower end of the market has been in a down-trend lately, the upper half of the market has not. Quartile 1 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 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
SOUTHLAKE, TX
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 4 of 6
90-day Average
Monday May 3, 2010
Single Family Homes in
City Overview
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
SOUTHLAKE, TX
Market Action Index The SOUTHLAKE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 13.48. 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
SOUTHLAKE, TX
Days on Market The properties have been on the market for an average of 255 days. Half of the listings have come newly on the market in the past 182 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