North Richland Hills Market Report 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]

NORTH RICHLANDHILLS, TX

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Median List Price

Median Lot Size

18.1

Percent Relisted (reset DOM)

2287

2.5

7 %

Median Number of Bathrooms

129

Inventory of Properties Listed

$ 88

Percent Flip (price increased)

8,001 - 10,000 sqft

Median House Size (sq ft)

$ 199,900

38 %

3.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

10 %

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

5 23867

1172.0 26

3.0

9

123

3.0 76

106

1

10

0.25 - 0.50acre

39

$ 149,998

7

3

76

3.5

8,001 -10,000 sqft

22.8

1440 8,001 -10,000 sqft

76

$ 97,500

4.0

169

8,001 -10,000 sqft$ 268,250

4.0$ 409,900

7

9

2814

Demand measured by the MarketAction Index is increasing and days-on-market is holding steady. Withmore properties coming available,conditions are mildly positive.

Monday May 10, 2010

Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887

75

1944

2.0

The median list price in NORTHRICHLAND HILLS, TX this week is$199,900. The 303 properties havebeen on the market for an average of129 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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NORTH RICHLANDHILLS, TX

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

303

$ 1,750,000

$ 47,500

$ 240,769

21

Trend Key:

Home sales have been exceedingnew inventory for several weeks.While still a Buyer's market, pricesseem to have responded by movingupward. If the demand trendscontinue, expect prices to keepmarching upward, especially oncewe see a Seller's Market.

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Single Family Homes in


City OverviewNORTH RICHLAND

HILLS, TX

Monday May 10, 2010

Median PriceThis week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in generalover the last several weeks.

90-day Average7-day Average

Quartile PricesPricing trends have been lacking strong directional indication lately. Only Quartile 3 is trending higher. Look to the MarketAction Index for persistent changes (up or down) as a leading indicator for the significant price changes.

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

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HILLS, TX

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 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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HILLS, TX

Monday May 10, 2010

Market Action IndexThe NORTH RICHLAND HILLS market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day MarketAction Index stands at 18.07. With several months of inventory available at the current sales rate, buyers should find amplechoice.

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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HILLS, TX

Monday May 10, 2010

Days on MarketThe properties have been on the market for an average of 129 days. Half of the listings have come newly on the market in thepast 70 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

17.5


2515

2.5

8 %


96


$ 93


8,001 - 10,000 sqft


$ 250,000

38 %

4.0

Market Action Index



13 %


Strong Buyer's

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Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


4 04012

862.0 20

3.0

4

94

3.0 42

69

0

4

0.25 - 0.50acre

32

$ 179,700

3

3

42

3.5

8,001 -10,000 sqft

23.0

1478 8,001 -10,000 sqft

42

$ 107,125

4.0

137

0.25 - 0.50acre$ 311,950

4.0$ 449,900

9

3

2982

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


41

2070

2.0

The median list price in NORTHRICHLAND HILLS, TX 76182 this weekis $250,000. The 167 properties havebeen on the market for an average of96 days.






No change



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NORTH RICHLANDHILLS, TX 76182

Neighborhood Detail


Average List Price


167

$ 1,750,000

$ 69,995

$ 271,995

16

Trend Key:

Home sales have been exceedingnew inventory for several weeks.While still a Buyer's market, pricesseem to have responded by movingupward. If the demand trendscontinue, expect prices to keepmarching upward, especially oncewe see a Seller's Market.

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Neighborhood DetailNORTH RICHLAND

HILLS, TX 76182

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 over the last several weeks.


Quartile PricesIn the quartile market segments, we see prices in this zip code with a lack of strong directional indication lately. Quartile 4 isdown, Quartile 1 is essentially flat, while Quartiles 2 and 3 are up in recent weeks. Slack demand sometimes takes hold at eitherend of the market and converges on the center. Watch for persistent shifts in the Market Action Index for a leading indicator ofstronger price moves in the market as a whole.


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HILLS, TX 76182

Monday May 10, 2010

Price per Square FootThe market appears to be placing an increasing premium on homes. When list prices and price per square foot consistentlyincrease in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market ActionIndex for persistent changes as a leading indicator for these trends to flatten or drop.


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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HILLS, TX 76182

Monday May 10, 2010

Market Action IndexThe NORTH RICHLAND HILLS, 76182 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-dayMarket Action Index stands at 17.49. With several months of inventory available at the current sales rate, buyers should findample 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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HILLS, TX 76182

Monday May 10, 2010





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Median List Price

Median Lot Size

18.4


2086

2.0

4 %


168


$ 79


8,001 - 10,000 sqft


$ 149,998

38 %

3.0

Market Action Index



6 %


Strong Buyer's

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Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


5 03498

1352.0 40

3.0

3

145

3.0 34

139

2

4

0.25 - 0.50acre

51

$ 124,400

5

0

34

3.2

8,001 -10,000 sqft

42.5

1406 8,001 -10,000 sqft

34

$ 84,440

3.0

254

8,001 -10,000 sqft$ 223,990

4.0$ 339,250

8

6

2610

Demand measured by the MarketAction Index is increasing and days-on-market is trending downward.Even as more properties comeavailable, these are positive trendsfor the market.

Monday May 10, 2010


34

1744

2.0

The median list price in NORTHRICHLAND HILLS, TX 76180 this weekis $149,998. The 136 properties havebeen on the market for an average of168 days.






No change



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NORTH RICHLANDHILLS, TX 76180

Neighborhood Detail


Average List Price


136

$ 695,000

$ 47,500

$ 202,427

27

Trend Key:

The market has been consistentlycool for several weeks. Demandlevel are low relative to theavailable inventory. It's a Buyer'smarket and prices continue to fall.Look for a persistent shift in MarketAction before prices plateau or beginto rise again.

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HILLS, TX 76180

Monday May 10, 2010

Median PriceWe continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Indexbefore we see prices move from these levels.


Quartile PricesIn the quartile market segments, we see price conditions in this zip code have not shown strong directional trends lately.Quartile 3 has been trending up recently, but unless we see a persistent up-shift in the Market Action Index, it will likely resumethe trend of the rest of the market.


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HILLS, TX 76180

Monday May 10, 2010

Price per Square FootWhile prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strengthin a market, larger homes are coming more available and buyers are tending to get more home for their money.


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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HILLS, TX 76180

Monday May 10, 2010

Market Action IndexThe NORTH RICHLAND HILLS, 76180 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-dayMarket Action Index stands at 18.44. With several months of inventory available at the current sales rate, buyers should findample 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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HILLS, TX 76180

Monday May 10, 2010





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North Richland Hills Market Report 5/10/10

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