The Multiple Listing Service of the Lubbock Association of REALTORS® includes residential properties and new homes listed by over 1,700 REALTORS®.

Lubbock Housing Market Displays Mixed Messages in March

The market report for the Lubbock Metropolitan Statistical Area (MSA) showed interesting statistics in March, according to the latest data from the Lubbock Association of REALTORS®.

Key Highlights:

• Median Home Price Down: After an increase in the previous month, the median price of homes dropped slightly in March, with the median home price beiong $234,000 in March 2025, which is a 3.3%  decrease compared to March 2024.
• Closed Sales Increase: Alternatively, after a down month, the number of closed sales rebounded in March. Closed sales totaled 471, representing a significant increase of 10.6% year-over-year.
• Active Listings Increase: Inventory improved for the third straight month, with 1,511 active listings, a 3.6% increase compared to March 2024.
• Months of Inventory Stable: The months of inventory remained stable for the second straight month at 3.6 months.
• Days on Market Longer: Homes spent longer on the market in March at 62 days, compared to 57 days in March 2024.
• Sale-to-List Price: The sale-to-list price was 95.2%, compared to 96.2% in March 2024, once again indicating sellers may be will to make more concessions in listing prices.

Price Distribution and Months Inventory
Price distribution figures showed that the 40% of homes fell within the $200,000 to $299,000 range, followed by 27.1% priced between $100,000 to $199,000 and 6.0% less than $100,000. While the number of homes on the market in Lubbock is showing increases, months of inventory is remaining unchanged, indicating that while the market is more balanced than in previous years, the number’s indicate it’s still a seller’s market.  The months of inventory metric reflects the balance between supply and demand, with higher values suggesting a shift towards a more buyer-friendly market. The Texas Real Estate Research Center at Texas A&M states that a 6.0 months of inventory is considered a balanced market.

In times of ecomonic uncertainty, real estate remains one of the most stable and reliable investments. Consult with a local REALTOR® and mortgage lender for personalized guidance and expertise, as each home and neighborhood is different.