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John S. Walton Educational Foundation

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The John S. Walton Educational Foundation is proud to offer scholarships to full-time students pursuing higher education through Texas Tech University, Lubbock Christian Univeristy, Wayland Baptist Univeristy and South Plains College. Scholarships are awarded at the discretion of the Trustees of the foundation. Applicants must be recommended by a REALTOR member of the LAR.  Additional information can be found in the  pdf The Application Applications must be submitted by April 30, 2017. 

About the foundation: The foundation is funded through the generosity of the Lubbock Association of REALTORS, its members and outside donations.  It was established in 1981 during Mr. Walton's year as President of the Lubbock Association of REALTORS as simply, the Lubbock Association of REALTORS Education Foundation. The Trustees of the Foundation saw fit to rename it in 2016 in memory and honor of Mr. Walton.  Mr. Walton, a 40 year REALTOR Emeritus member of the association, dedicated countless hours of service to the Lubbock, Texas and National Association of REALTORS. He served as the President of the Lubbock Association of REALTORS in 1981, President of the Texas Association of REALTORS in 1999, and was appointed to the Texas Real Estate Commission by Governor Rick Perry from 2001 to 2007. He was appointed as Chairman of the Commission by Governor Perry in 2004. Mr. Walton loved this community and the REALTOR profession and the foundation strives to honor his legacy. 

2018 February Lubbock Area Housing Report

  February 2018 Posts Positive Sales, Median Price Up

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) pdf
    (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

  January 2018 Home Sales Up, Prices Rise 

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) pdf
    (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.

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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

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

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