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6/28/2010 Souhlake Market Report
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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 ofJune 28, 2010
· Presented by Tamara KeilbergTamara Keilberg Luxury Real Estatewww.LuxuryHomesDFW.com - [email protected]
SOUTHLAKE, TX
Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2010 Altos Research LLC
Median List Price
Median Lot Size
13.3
Percent Relisted (reset DOM)
4436
4.5
3 %
Median Number of Bathrooms
185
Inventory of Properties Listed
$ 146
Percent Flip (price increased)
0.50 - 1.0 acre
Median House Size (sq ft)
$ 650,000
41 %
5.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
10 %
Percent of Properties with Price Decrease
Strong Buyer's
≠≠
±+
±+
==
±+
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
4 16600
1614.0 14
4.0
9
181
4.0 91
163
3
7
1.0 - 2.5acres
16
$ 540,000
4
2
91
6.0
0.25 - 0.50acre
44.5
3354 0.25 - 0.50acre
91
$ 399,999
5.0
235
0.50 - 1.0acre$ 760,000
5.0$ 1,650,000
6
3
5030
Inventory has been tightening anddays-on-market increasing recently.The Market Action Index has beenbasically flat, not providing strongindication for market conditions.
Monday June 28, 2010
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
91
4119
3.0
The median list price in SOUTHLAKE,TX this week is $650,000. The 364properties have been on the marketfor an average of 185 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±+
== ≠≠
≠=
SOUTHLAKE, TXCity Overview
Least Expensive Listing
Average List Price
Average Age of Listing
364
$ 5,595,000
$ 145,000
$ 896,487
11
Trend Key:
The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.
Page 2 of 6
Single Family Homes in
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
City OverviewSOUTHLAKE, TX
Monday June 28, 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 PricesPrices in most of the market have stabilized recently. Only Quartile 4 shows any price increases in the last few weeks. Often thiscondition happens in markets where demand has fallen (for example, due to micro-location variables) but supply is stillrelatively short. Buyers are focusing on the lowest price homes in the area.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 3 of 6
Single Family Homes in
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
City OverviewSOUTHLAKE, TX
Monday June 28, 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.
90-day Average7-day Average
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.
90-day Average7-day Average
Page 4 of 6
Single Family Homes in
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
City OverviewSOUTHLAKE, TX
Monday June 28, 2010
Market Action IndexThe SOUTHLAKE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 13.28. 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
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 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.
Page 5 of 6
Single Family Homes in
Tamara Keilberg | Tamara Keilberg Luxury Real Estate | 8179965887
City OverviewSOUTHLAKE, TX
Monday June 28, 2010
Days on MarketThe properties have been on the market for an average of 185 days. Half of the listings have come newly on the market in thepast 98 or so days.
90-day Average7-day Average
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.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 6 of 6
Single Family Homes in