hurst market rerport 5/10/10

MARKET UPDATETamara Keilberg's

· Current Real Estate Market Conditions for Single Family Homes· Trends in Pricing· Current Levels of Supply and Demand· Value Metrics

· Report for the week ofMay 10, 2010

· Presented by Tamara KeilbergTamara Keilberg Luxury Real Estatewww.LuxuryHomesDFW.com - [email protected]

HURST, TX

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

Median List Price

Median Lot Size

19.9

Percent Relisted (reset DOM)

1949

2.0

3 %

Median Number of Bathrooms

149

Inventory of Properties Listed

$ 83

Percent Flip (price increased)

8,001 - 10,000 sqft

Median House Size (sq ft)

$ 149,900

44 %

3.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

7 %

Percent of Properties with Price Decrease

Strong Buyer's

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Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

Bottom/Fourth

Lower/Third

Upper/Second

Top/First

This Week Real-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

10 62697

1422.0 44

3.0

2

154

3.0 44

128

3

3

8,001 -10,000 sqft

51

$ 132,400

3

4

45

2.5

8,001 -10,000 sqft

22.0

1320 8,001 -10,000 sqft

44

$ 99,900

3.5

174

8,001 -10,000 sqft$ 174,950

4.0$ 264,900

22

8

2129

Inventory and days-on-market areboth trending higher recently.However, the improving MarketAction Index implies some increaseddemand will temper the negativetrends.

Monday May 10, 2010

Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887

44

1652

2.0

The median list price in HURST, TXthis week is $149,900. The 177properties have been on the marketfor an average of 149 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend±+

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HURST, TXCity Overview

Least Expensive Listing

Average List Price

Average Age of Listing

177

$ 636,000

$ 48,000

$ 173,404

31

Trend Key:

Home sales have been exceedingnew inventory for several weeks.However because of excessinventory, prices have not yetstopped falling. Should the salestrend continue, expect prices tolevel off soon and potentially toresume their climb from there.Watch prices as the markettransitions from a Buyer's market toa Seller's market.

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Single Family Homes in


City OverviewHURST, TX

Monday May 10, 2010

Median PriceThe market has been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.

90-day Average7-day Average

Quartile PricesPrices have generally settled at a plateau, although Quartile 2 has been trending a bit downward in recent weeks. We'll need tosee a persistent shift in the Market Action Index before we see prices across the board move from these levels.

First/Top Second/Upper Third/Lower Fourth/Bottom

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Monday May 10, 2010

Price per Square FootWe're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actuallyincreasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-location variables.


Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.


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Monday May 10, 2010

Market Action IndexThe HURST market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index standsat 19.91. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’sAdvantage 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 functionof the current rate of sale versus current inventory.

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Monday May 10, 2010

Days on MarketThe properties have been on the market for an average of 149 days. Half of the listings have come newly on the market in thepast 77 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


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Median List Price

Median Lot Size

19.2


2379

2.5

3 %


170


$ 90


8,001 - 10,000 sqft


$ 219,000

43 %

3.0

Market Action Index



4 %


Strong Buyer's

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Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


7 23314

1072.0 32

3.0

1

152

4.0 17

222

1

2

8,001 -10,000 sqft

40

$ 199,900

1

2

18

3.5

8,001 -10,000 sqft

32.5

1745 8,001 -10,000 sqft

17

$ 139,900

4.0

194

0.25 - 0.50acre$ 239,900

4.0$ 330,000

13

0

2484

Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.

Monday May 10, 2010


17

2265

2.0

The median list price in HURST, TX76054 this week is $219,000. The 69properties have been on the marketfor an average of 170 days.






No change



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HURST, TX 76054Neighborhood Detail


Average List Price


69

$ 636,000

$ 112,900

$ 234,137

24

Trend Key:

Home sales have been exceedingnew inventory for several weeks.Since this is a Buyer's market pricesare not yet moving higher as excessinventory is consumed. However,the as supply and demand trendscontinue, the market moves into theSeller's zone, and we are likely tosee upward pressure on pricing.

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Neighborhood DetailHURST, TX 76054

Monday May 10, 2010

Median PriceIn this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice uptrend in general over the last several weeks.


Quartile PricesIn the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 2 is on a bit ofan up trend in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see prices across theboard move from these levels.


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Monday May 10, 2010

Price per Square FootThis is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at firstglance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining.Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also gettingmore for their money.


Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.


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Monday May 10, 2010

Market Action IndexThe HURST, 76054 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 19.19. With several months of inventory available at the current sales rate, buyers should find ample choice.


Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.





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Monday May 10, 2010





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Median List Price

Median Lot Size

19.7


1702

2.0

4 %


136


$ 76


8,001 - 10,000 sqft


$ 120,000

44 %

3.0

Market Action Index



8 %


Strong Buyer's

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Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


8 12487

1022.0 48

3.0

2

146

3.0 27

148

0

2

6,501 -8,000 sqft

52

$ 114,900

3

2

27

2.0

8,001 -10,000 sqft

22.0

1242 8,001 -10,000 sqft

27

$ 81,000

3.0

150

6,501 -8,000 sqft$ 142,000

4.0$ 198,900

10

7

1828

Inventory and days-on-market areboth trending higher recently.However, the improving MarketAction Index implies some increaseddemand will temper the negativetrends.

Monday May 10, 2010


27

1504

1.5

The median list price in HURST, TX76053 this week is $120,000. The 108properties have been on the marketfor an average of 136 days.






No change



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HURST, TX 76053Neighborhood Detail


Average List Price


108

$ 295,000

$ 48,000

$ 134,602

35

Trend Key:

Home sales have been exceedingnew inventory for several weeks.However because of excessinventory, prices have not yetstopped falling. Should the salestrend continue, expect prices tolevel off soon and potentially toresume their climb from there.Watch prices as the markettransitions from a Buyer's market toa Seller's market.

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Monday May 10, 2010

Median PriceIn the last few weeks we've seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in theMarket Action Index before we see prices deviate from these levels.


Quartile PricesIn the quartile market segments, we see the market's price weakness evident across the board. Quartiles 1, 2, and 1 have beenin price decline in recent weeks, with Quartile 2 remaining basically flat. Look to the Market Action Index as a leading indicatorof the bottom of the market.


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Monday May 10, 2010

Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.


Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.


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Monday May 10, 2010

Market Action IndexThe HURST, 76053 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 19.68. With several months of inventory available at the current sales rate, buyers should find ample choice.


Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.





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Monday May 10, 2010





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hurst market rerport 5/10/10

Documents

market areboth

median pricethe market

trend key

percent of properties

price decreasestrong

single family homes

percent flip price increased8

week ofmay