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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

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


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


6/28/2010 North Richland Hills Market Report