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2017 December Lubbock Area Housing Report

  December Home Sales Down, Median Price Rises 

January 20, 2018 – Lubbock area home sales were down 10% in December 2017 compared to December 2016 with 268 homes sold according to our Lubbock Area Housing Report.  The median price for Lubbock area homes was up compared to December 2016 at $154,500, an almost 7% increase from December 2016.

The number of active listings on the market increased for the fifth straight month, up 18% compared to December 2016, with 920 active residential listings.  Lubbock's monthly housing inventory also increased from 2.4 months in December 2016 to 2.9 months in December 2017. Months inventory is the best indicator of a buyer's or seller's market.  Even with the increase in the number of active listings, Lubbock remains a strong seller's market, with months inventory remaining well below the 6.5 months that represents a balanced market, according to The Real Estate Center at Texas A&M University.*

Homes continue to spend less days on the market as well, with the average total being 75 days on the market in December 2017, fourteen days less than November 2016.  This is a positive indication that, generally, transactions are going smoothly from the time a home goes on the market, to when an offer is accepted, to the time it closes. 

December 2017 Statistics At-A-Glance

  • 268 – Homes sold in December 2017, 10.4% less than December 2016.
  • $154,500 – Median home sales price, up 6.6% compared to December 2016.
  • 920 – Active homes on the market in December 2017, up 18% compared to December 2016.
  • 2.9 – Monthly housing inventory, up from 2.4 months in December 2016.
  • 75 – Average number of days homes spent on the market in December 2017, 14 day less than December 2016.
  • pdf 2017 December Infographic (372 KB) pdf
    (372 KB)

Contact a Lubbock REALTOR® for the most accurate information about the local market and what's happening in your neighborhood.

*Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months.

About the Lubbock Association of REALTORS®

The Lubbock Association of REALTORS® and our 1,100+ members are committed to serving the Lubbock area by promoting REALTOR® integrity while advocating for private property rights and home ownership.

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2017 November Lubbock Area Housing Report

  November Home Sales Bounce Back 

December 16, 2017 – According to our Lubbock Area Housing Report, home sales were up 7% compared to November 2016, with 285 homes sold.  The median price for Lubbock area homes was up slightly at $155,000, a 0.8% increase from November 2016.

The number of active listings on the market increased for the fourth straight month, up 13% compared to November 2016, with 958 active residential listings.  Lubbock's monthly housing inventory also increased from 2.6 months in November 2016 to 3.0 months in November 2017. Months inventory is the best indicator of a buyer's or seller's market.  Currently, Lubbock remains a strong seller's market, with months inventory remaining well below the 6.5 months that represents a balanced market, according to The Real Estate Center at Texas A&M University.*

Homes spent an average total of 71 days on the market in November 2017, one day less than November 2016.  This is a positive indication that, generally, transactions are going smoothly from the time a home goes on the market, to when an offer is accepted, to the time it closes. 

November 2017 Statistics At-A-Glance

  • 285 – Homes sold in November 2017, 7.1% more than November 2016.
  • $155,000 – Median home sales price, up 0.8% compared to November 2016.
  • 958 – Active homes on the market in November 2017, up 13% compared to November 2016.
  • 3.0 – Monthly housing inventory, up from 2.6 months in November 2016.
  • 71 – Average number of days homes spent on the market in November 2017, 1 day less than November 2016.
  • pdf 2017 November Infographic (372 KB)

Contact a Lubbock REALTOR® for the most accurate information about the local market and what's happening in your neighborhood.

*Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months.

About the Lubbock Association of REALTORS®

The Lubbock Association of REALTORS® and its 1,000+ members are committed to serving the Lubbock area by promoting REALTOR® integrity while advocating for private property rights and home ownership.

###

Read more

2017 October Lubbock Area Housing Report

  October Home Sales Dip Along with Prices 

November 18, 2017 – According to our Lubbock Area Housing Report, home sales were down again in October 2017, with 271 homes sold.  This is an almost 2% drop compared to October 2016.  Home prices were down again in October 2017, with the median price for Lubbock area homes being $153,000, a 2% decrease compared to October 2016.

The number of active listings on the market increased for the third month in a row, up 9.5% compared to October 2016, with 993 active residential listings.  Lubbock's monthly housing inventory also increased from 2.8 months in October 2016 to 3.1 months in October 2017. Months inventory is the best indicator of a buyer's or seller's market.  Currently, Lubbock remains a strong seller's market, with months inventory remaining well below the 6.5 months that represents a balanced market, according to The Real Estate Center at Texas A&M University.*

Despite an increase in months inventory, homes are spending less time on the market.  Homes spent an average total of 70 days on the market in October 2017, twelve days less than October 2016.  This is a positive indication that, generally, transactions are going smoothly from the time a home goes on the market, to when an offer is accepted, to the time it closes. 

October 2017 Statistics At-A-Glance

  • 271 – Homes sold in October 2017, 1.8% less than October 2016.
  • $153,000 – Median home sales price, up 2.2% compared to October 2016.
  • 993 – Active homes on the market in October 2017, up 9.5% compared to October 2016.
  • 3.1 – Monthly housing inventory, up from 2.8 months in October 2016.
  • 70 – Average number of days homes spent on the market in October 2017, 12 days less than October 2016.
  •   pdf 2017 October Infographic (372 KB)  

Contact a Lubbock REALTOR® for the most accurate information about the local market and what's happening in your neighborhood.

*Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months.

About the Lubbock Association of REALTORS®

The Lubbock Association of REALTORS® and its 1,000+ members are committed to serving the Lubbock area by promoting REALTOR® integrity while advocating for private property rights and home ownership.

###

Read more