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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 May 17, 2010

· Presented by Tamara Keilberg Tamara Keilberg Luxury Real Estate www.LuxuryHomesDFW.com - tamara@luxuryhomesdfw.com 817-485-1118

Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2010 Altos Research LLC


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 $208,990. The 1056 properties have been on the market for an average of 105 days.

Trend

Median List Price

$ 208,990

Average List Price

$ 255,088

Asking Price Per Square Foot

$ 82

≠≠

Average Days on Market (DoM)

105

±+

Inventory of Properties Listed

1056

==

Most Expensive Listing

Demand measured by the Market Action Index is increasing and dayson-market is holding steady. With more properties coming available, conditions are mildly positive.

$ 2,000,000

Least Expensive Listing

$ 69,900

Average Age of Listing

8

Percent of Properties with Price Decrease

42 %

Percent Relisted (reset DOM)

7%

Percent Flip (price increased)

5%

Median House Size (sq ft)

2671

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

16.9

==

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:

±+

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

$ 397,398

3846

0.25 - 0.50 acre

4.0

3.5

7

264

22

15

137

Most expensive 25% of properties

Upper/Second

$ 253,275

2977

8,001 10,000 sqft

4.0

3.0

7

264

22

22

107

Upper-middle 25% of properties

Lower/Third

$ 175,500

2398

4,501 6,500 sqft

4.0

2.5

5

264

13

17

89

Lower-middle 25% of properties

Bottom/Fourth

$ 140,000

1862

4,501 6,500 sqft

3.0

2.0

6

264

20

30

87

Least expensive 25% of properties

Page 2 of 16

Monday May 17, 2010


Single Family Homes in

City Overview

Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887

KELLER, TX

Median Price Despite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.

7-day Average

90-day Average

Quartile Prices Prices have generally settled at a plateau, although Quartile 1 is on a bit of an up trend 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 3 of 16

Second/Upper

Third/Lower

Monday May 17, 2010

Fourth/Bottom


Single Family Homes in

City Overview

Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887

KELLER, 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 16

90-day Average

Monday May 17, 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 16.90. 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 May 17, 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 105 days. Half of the listings have come newly on the market in the past 56 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 May 17, 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 $300,000. The 417 properties have been on the market for an average of 147 days.

Trend

Median List Price

$ 300,000

Average List Price

$ 346,163

Asking Price Per Square Foot

$ 98

±+

Average Days on Market (DoM)

147

≠≠

Inventory of Properties Listed

417

==

Most Expensive Listing

Demand measured by the Market Action Index is increasing and dayson-market is trending downward. Even as more properties come available, these are positive trends for the market.

$ 2,000,000

Least Expensive Listing

$ 69,900

Average Age of Listing

12

Percent of Properties with Price Decrease

42 %

Percent Relisted (reset DOM)

9%

Percent Flip (price increased)

3%

Median House Size (sq ft)

3186

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

16.2

==

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

$ 539,000

4232

0.25 - 0.50 acre

4.0

4.0

5

104

11

6

162

Most expensive 25% of properties

Upper/Second

$ 349,914

3466

0.25 - 0.50 acre

4.0

3.5

10

104

5

5

128

Upper-middle 25% of properties

Lower/Third

$ 269,900

3004

8,001 10,000 sqft

4.0

3.0

12

104

10

8

147

Lower-middle 25% of properties

Bottom/Fourth

$ 161,811

2036

6,501 8,000 sqft

3.0

2.0

12

105

10

16

152

Least expensive 25% of properties

Page 7 of 16

Monday May 17, 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 most of the quartile market segments, we see prices in this zip code showing strength. Only Quartile 4 is in a price decline. 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 Quartile 4 will begin to reverse the trend and push prices higher here too.

First/Top

Page 8 of 16

Second/Upper

Third/Lower

Monday May 17, 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 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 9 of 16

90-day Average

Monday May 17, 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 16.21. 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 May 17, 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 147 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 May 17, 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 $174,500. The 639 properties have been on the market for an average of 76 days.

Trend

Median List Price

$ 174,500

Average List Price

$ 195,653 $ 76

≠≠

Average Days on Market (DoM)

76

==

Inventory of Properties Listed

639

==

Asking Price Per Square Foot

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.

Most Expensive Listing

$ 640,000

Least Expensive Listing

$ 77,500

Average Age of Listing

5

Percent of Properties with Price Decrease

42 %

Percent Relisted (reset DOM)

5%

Percent Flip (price increased)

6%

Median House Size (sq ft)

2410

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

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

17.3

==

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

$ 271,808

3389

8,001 10,000 sqft

4.0

3.0

4

159

13

12

86

Most expensive 25% of properties

Upper/Second

$ 189,900

2583

6,501 8,000 sqft

4.0

2.5

5

160

9

12

74

Upper-middle 25% of properties

Lower/Third

$ 160,775

2190

4,501 6,500 sqft

3.0

2.0

5

160

9

11

67

Lower-middle 25% of properties

Bottom/Fourth

$ 138,875

1860

4,501 6,500 sqft

3.0

2.0

6

160

12

16

76

Least expensive 25% of properties

Page 12 of 16

Monday May 17, 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 1 is on a bit of an up trend 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 May 17, 2010

Fourth/Bottom


Single Family Homes in

Neighborhood Detail

Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887

KELLER, TX 76244

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 14 of 16

90-day Average

Monday May 17, 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 17.28. 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 May 17, 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 76 days. Half of the listings have come newly on the market in the past 56 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 May 17, 2010

Fourth/Bottom


5/16/2010 Keller Market Report