6/28/2010 Keller Market Report

Page 1

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

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 $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


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