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2018 April Lubbock Area Housing Report

 Large Increase in Closed Sales, Slight Price Increase, Another Increase in Active Listings

May 12, 2018 – Lubbock area home sales increased almost 30% in April 2018 with 407 closed sales, according to our April 2018 Lubbock Area Housing Report.  The median home price increased slightly compared to April 2017, with the median price for Lubbock area homes being $165,000.

The number of active listings on the market posted another substantial increase - almost 30% - with 973 active residential homes on the market in April 2018.  Even with the large increase in active listings, Lubbock remains a strong seller's market in the predominent price range.  Lubbock's monthly housing inventory was just 2.9 months in April 2018, a slight increase from 2.3 months in April 2017.  The Real Estate Center at Texas A&M University states that 6.5 months represents a market in which supply and demand for homes is balanced.*

Homes spent just 1 day more on the market in April 2018 vs April 2017, with a total of 71 days from when a listing goes on the market to when it closes. 

April 2018 Statistics At-A-Glance

  • 407 – Homes sold in April 2018, 28.8% more than April 2017.
  • $165,000 – Median home sales price in April 2018, an increase of 0.9% compared to April 2017.
  • 973 – Active homes on the market in April 2018, 29.2% more than April 2017.
  • 2.9 – Monthly housing inventory, up from 2.3 months in April 2017.
  • 71 – Number of days homes spent on the market until the time is closes, 1 day more than April 2017.
  • pdf 2018 April 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 our 1,200+ 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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2018 March Lubbock Area Housing Report

 Positive Closed Sales, Median Price Increase, Active Listings Increase

April 14, 2018 – The market saw an increase in prices, active listings and closed sales according to our March 2018 Lubbock Area Housing Report.  Lubbock area home sales posted a slight increase of almost 1.6% compared to March 2017 with 373 homes sold.  The median price for Lubbock area homes was $159,900, a 10% increase from March 2017.

The number of active listings on the market showed another large increase of 20% with 943 active residential homes on the market.  Lubbock's monthly housing inventory also increased from 2.4 months in March 2017 to 2.9 months in March 2018.  There is a benefit to more homes being for sale as it creates more balance for buyers.  Currently though, Lubbock remains a strong sellers' market in most price ranges.  The Real Estate Center at Texas A&M University states that 6.5 months represents a market in which supply and demand for homes is balanced.*

Homes spent 5 days less on the market in March 2018 vs March 2017, with a total of 81 days from when a listing goes on the market to when it closes. 

March 2018 Statistics At-A-Glance

  • 373 – Homes sold in March 2018, 1.6% more than March 2017.
  • $159.900 – Median home sales price in March 2018, an increase of 10.3% compared to March 2017.
  • 943 – Active homes on the market in March 2018, 20% more than March 2017.
  • 2.9 – Monthly housing inventory, up from 2.4 months in March 2017.
  • 81 – Number of days homes spent on the market until the time is closes, 5 days less than March 2017.
  • pdf 2018 March 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 our 1,200+ 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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2018 February Lubbock Area Housing Report

  Large Increase in Closed Sales and Active Listings

March 13, 2018 – February 2018 was another positive month for Lubbock real estate according to our Lubbock Area Housing Report.  Lubbock area home sales showed a substantial increase of almost 30% comopared to February 2017 with 288 homes sold.  The median price for Lubbock area homes increased as well, posting at $166,500, which is a 13.5% increase from February 2017.

The number of active listings on the market showed a large increase, with 935 active residential listings on the market.  This is an almost 23% increase compared to February 2017.  Lubbock's monthly housing inventory also increased from 2.3 months in February 2017 to 2.9 months in February 2018.  The number of months of inventory is one of the best indicators of a buyers' or seller's market.  Time will tell if this is trend towrads a more balanced market.  For now, Lubbock remains in a strong sellers' market in most price ranges.  According to The Real Estate Center at Texas A&M University, 6.5 months represents a balanced market.*

Homes spent 6 days less on the market, with a total of 79 days on the market in February 2018.  This continues positive indications 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. 

February 2018 Statistics At-A-Glance

  • 288 – Homes sold in February 2018, 29.7% more than February 2017.
  • $161,500 – Median home sales price, an increase of 13.5% compared to February 2017.
  • 935 – Active homes on the market in February 2018, 22.9% more than January 2017.
  • 2.9 – Monthly housing inventory, up from 2.3 months in February 2017.
  • 79 – Average number of days homes spent on the market in February 2018, 6 days less than February 2017.
  • pdf 2018 February Infographic (372 KB)  

We're excited the first two months of 2018, and the busy selling season will be here soon.  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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2018 January Lubbock Area Housing Report

 Slight Increase in Closed Sales, Median Price and the Number of Active Listings

February 24, 2018 – The first month of 2018 posted strong home sales according to our Lubbock Area Housing Report.  Lubbock area home sales increased almost 3% comopared to January 2017 with 219 homes sold.  The median price for Lubbock area homes increased as well, being $151,700, an 11% increase compared to January 2017.

The number of active listings on the market increased 11% as well, with 895 active residential listings.  Lubbock's monthly housing inventory also increased from 2.5 months in January 2017 to 2.8 months in January 2018. As has been the case for some time now, Lubbock remains in a strong sellers' market in most price ranges.  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 spent 2 days more on the market, with an average total of 90 days on the market in January 2018.  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. 

January 2018 Statistics At-A-Glance

  • 219 – Homes sold in January 2018, 2.8% more than January 2017.
  • $151,700 – Median home sales price, an increase of 11.2% compared to January 2017.
  • 895 – Active homes on the market in January 2018, 10.8% more than January 2017.
  • 2.8 – Monthly housing inventory, up from 2.5 months in January 2017.
  • 90 – Average number of days homes spent on the market in January 2018, 2 days more than January 2017.
  • pdf 2018 January Infographic (372 KB)  

With January posting strong statistics, we believe 2018 will be a good year for the real estate market in Lubbock.  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.

###

Read more

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.

###

Read more

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