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

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.


Buyers should be prepared to act quickly and expect to make full-price offers with little to no concessions, depending on the price range and specific location.