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You are here: Home | Buyers and Sellers Information | Consumer News | 2018 February Lubbock Area Housing Report

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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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. 
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