hurst marketreport 5/3/10

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 03, 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

19.8

Percent Relisted (reset DOM)

1947

2.0

4 %

Median Number of Bathrooms

148

Inventory of Properties Listed

$ 82

Percent Flip (price increased)

8,001 - 10,000 sqft

Median House Size (sq ft)

$ 149,900

41 %

3.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

6 %

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 22671

1162.0 44

3.0

7

159

3.0 46

133

5

5

8,001 -10,000 sqft

51

$ 129,900

11

2

46

2.5

8,001 -10,000 sqft

32.0

1327 8,001 -10,000 sqft

46

$ 93,950

3.0

183

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

4.0$ 269,950

23

3

2112

Inventory is up and Market Action istrending down recently. While days-on-market appears to be trendinglower, the overall conditions areweakening a bit.

Monday May 3, 2010

Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887

46

1624

2.0

The median list price in HURST, TXthis week is $149,900. The 184properties have been on the marketfor an average of 148 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

184

$ 636,000

$ 48,000

$ 171,912

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 3, 2010

Median PriceDespite this week's down tic, the market seems to have paused around this plateau. The Market Action Index is a good leadingindicator for the durability of this shift.

90-day Average7-day Average

Quartile PricesPricing is on a slightly negative trend lately. Prices in Quartile 4 and 1 have been mixed recently, while the rest of the market istrending downward. Look to a strong, persistent up shift in the Market Action Index as a leading indicator of the trough in themarket.

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

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Monday May 3, 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 3, 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 19.76. 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 3, 2010

Days on MarketThe properties have been on the market for an average of 148 days. Half of the listings have come newly on the market in thepast 74 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

19.4


2373

2.5

3 %


164


$ 90


8,001 - 10,000 sqft


$ 219,875

42 %

3.0

Market Action Index



4 %


Strong Buyer's

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Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


8 03299

1352.2 26

3.0

1

146

3.5 18

180

1

1

8,001 -10,000 sqft

40

$ 199,900

0

1

18

3.0

8,001 -10,000 sqft

12.5

1782 8,001 -10,000 sqft

18

$ 146,000

3.0

200

8,001 -10,000 sqft$ 242,400

4.0$ 329,900

10

1

2451

Inventory is up and Market Action istrending down recently. While days-on-market appears to be trendinglower, the overall conditions areweakening a bit.

Monday May 3, 2010


17

2272

2.0

The median list price in HURST, TX76054 this week is $219,875. The 71properties have been on the marketfor an average of 164 days.






No change



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HURST, TX 76054Neighborhood Detail


Average List Price


71

$ 636,000

$ 112,900

$ 233,387

23

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 3, 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 3, 2010

Price per Square FootIn a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that newhomes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.




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Monday May 3, 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 19.42. 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 3, 2010





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Median List Price

Median Lot Size

19.1


1723

2.0

4 %


137


$ 76


8,001 - 10,000 sqft


$ 119,900

41 %

3.0

Market Action Index



7 %


Strong Buyer's

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Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


8 22398

792.0 48

3.0

7

142

3.0 28

160

4

2

8,001 -10,000 sqft

54

$ 114,200

7

4

29

2.0

8,001 -10,000 sqft

32.0

1242 8,001 -10,000 sqft

28

$ 80,000

3.0

166

6,501 -8,000 sqft$ 138,700

4.0$ 192,450

32

3

1790

The Market Action Index has beentrending down lately, while inventoryand days-on-market are climbing. Thetrends imply a weakening market.

Monday May 3, 2010


28

1502

1.5

The median list price in HURST, TX76053 this week is $119,900. The 113properties have been on the marketfor an average of 137 days.






No change



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HURST, TX 76053Neighborhood Detail


Average List Price


113

$ 317,500

$ 48,000

$ 133,287

37

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 3, 2010

Median PriceAgain this week in this zip code we see a downward notch for prices. We continue to pull back from the market's highs. At thispoint, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.


Quartile PricesIn the quartile market segments, we see the market's price weakness evident across the board. All four quartiles have been inprice decline in recent weeks. Look to the Market Action Index as a leading indicator of the bottom of the market.


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Monday May 3, 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.




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Monday May 3, 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 19.07. 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 3, 2010





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hurst marketreport 5/3/10

Documents

market istrending

market action istrending

trend key

negative trend

percent of properties

price decreasestrong

single family homes

median pricedespite