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2017 August Lubbock Area Housing Report

  August Home Sales and Prices 

September 16, 2017 – Home sales were down again in August 2017 according to the Lubbock Area Housing Market Report.  According to the report, 339 homes were sold in August 2017, 8% less than August 2016.  Home prices also saw a drop, down 7% compared to August 2016, with the median price for Lubbock area homes being $148,950.

The number of active listings on the market increased almost 14% compared to August 2016, with 1,033 Active home listings.  Lubbock's monthly housing inventory saw an increase as well, increasing from 2.9 months in August 2016, to 3.2 months in August 2017. Months inventory is the best indicator of a buyer's or seller's market, and even though the months inventory increased, Lubbock remains a strong seller's market. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced. Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months. This is the first time since November of 2015 that Lubbock's home invetory has been more than 3 months.

Homes spent an average total of 67 days on the market in August 2017, nine days less than August of last year.

August 2017 Statistics At-A-Glance

  • 339 – Homes sold in August 2017, 8.1% less than August 2016.
  • $148,950 – Median home sales price, down 6.9% compared to August 2016.
  • 1,033– Active homes on the market in August 2017, up 6.5% compared to August 2016.
  • 3.2 – Monthly housing inventory, up from 2.9 months in August 2016.
  • 67 – Average number of days homes spent on the market in August 2017, 9 days less than in August 2016.
  • pdf (372 KB) pdf 2017 August Infographic (373 KB)

To find out what the market is like in your neighborhood, contact a Lubbock REALTOR®. They have access to the best information about the local market.

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.

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2017 July Lubbock Area Housing Report

  July Home Sales Down, Prices Up

August 24, 2017 – Home sales were down again in July 2017 according to the Lubbock Area Housing Market Report.  According to the report, 376 homes were sold in July 2017, 14% less than July 2016.  Home prices continued their upward trend, however, up 4% compared to July 2016, with the median price for Lubbock area homes being $156,750.

The number of active listings on the market increased almost 7% compared to July 2016, with 953 homes actively listed.  Like the majority of Texas, Lubbock remains a strong seller's market in most price ranges. Buyer's should be prepared to make full-price offers, with little to no concessions. Months inventory is the best indicator of a buyer's or seller's market, and this figure increased slightly, from 2.8 months in July 2016 to 3 months in July 2017. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced. Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months. Lubbock's home invetory has not been more than 3 months since November 2014.

Homes spent an average of 65 days on the market in July 2017, five days less than July of last year.

July 2017 Statistics At-A-Glance

  • 376 – Homes sold in July 2017, 14.2% less than July 2016.
  • $156,750 – Median home sales price, 4.3% more than July 2016.
  • 953– Active homes on the market in July 2017, up 6.5% compared to July 2016.
  • 3.0 – Monthly housing inventory, up slightly from 2.8 in July 2016.
  • 65 – Average number of days homes spent on the market in July 2017, 5 days less than in July 2016.
  • pdf 2017 July Infographic (372 KB)

The Lubbock area is back on track for a strong summer selling season. Contact your Lubbock REALTOR® to find out the specifics of your neighborhood. Local REALTORS® have access to the best information to help you.

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.

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2017 June Lubbock Area Housing Report

  June Home Sales Down, Prices Rise

July 22, 2017 – Home sales dipped slightly in June 2017 according to the Lubbock Area Housing Market Report with 418 homes sold, 3% less than June 2016.  Home prices increased, however, posting a 15% increase compared to June 2016, with the median price for Lubbock area homes being $167,560.

The number of active listings on the market increased 8% compared to June 2016, with 921 homes actively listed.  Even with this increase, Lubbock remains a strong seller's market in most price ranges, as indicated by the monthly housing inventory. This figure decreased from 2.8 months in June 2016 to 2.7 months in June 2017. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced. Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months. Lubbock's home invetory has not been more than 3 months since November 2014. 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. 

Homes spent an average of 71 days on the market in June 2017, two days less than June of the previous year.

June 2017 Statistics At-A-Glance

  • 418 – Homes sold in June 2017, 3% less than June 2016.
  • $167,650 – Median home sales price, an incrase of 14.8% compared to June 2016.
  • 921– Active homes on the market, up 8.4% compared to June 2016.
  • 2.7 – Monthly housing inventory, down slightly at 2.8 in June 2016.
  • 71 – Average number of days homes spent on the market in June 2017, two days less than in June 2016.
  • pdf 2017 June Infographic (372 KB)

The Lubbock area is back on track for a strong summer selling season. Contact your Lubbock REALTOR® to find out the specifics of your neighborhood. Local REALTORS® have access to the best information to help you.

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.

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2017 May Lubbock Area Housing Report

  Home Sales Bounce Back, Rise in May 2017

June 24, 2017 – Sales were positive again in May 2017 after a dip in April. The Lubbock Area Housing Market Report shows that sales increased 6.6% in May with 418 homes sold.  Home prices increased a modest 1.3% compared to May 2016, with the median price for Lubbock area homes being $155,000.

Lubbock remains a strong seller's market in most price ranges.  The number of active listings on the market saw a small increase of 1.5% compared to May 2016, with 829 active listings. Even with the increase in the number of active listings, monthly housing inventory decreased from 2.6 months in May 2016 to 2.5 months in May 2017. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced. Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months. Lubbock's home invetory has not been more than 3 months since November 2014.  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. 

Homes spent an average of 74 days on the market in May 2017, three days less than in May of last year.

May 2017 Statistics At-A-Glance

  • 418 – Homes sold in May 2017, 6.6% more than May 2016.
  • $155,000 – Median home sales price, an incrase of 1.3% compared to May 2016.
  • 829 – Active home listings on the market in May 2017, up 1.5% compared to May 2016.
  • 2.5 – Monthly housing inventory in May 2017, down slightly from May 2016.
  • 74 – Average number of days homes spent on the market in May 2017, 3 days less compared to May 2016.
  • pdf 2017 May Infographic (372 KB)

The Lubbock area is back on track for a strong summer selling season. Contact your Lubbock REALTOR® to find out the specifics of your neighborhood. Local REALTORS® have access to the best information to help you.

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 ownership.

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2017 April Lubbock Area Housing Report

  Home Sales Dip but Prices Rise in April 2017

May 20, 2017 – The April 2017 Lubbock Area Housing Market Report shows that Lubbock area home sales decreased 14.6% in April 2017 with 316 homes sold.  Though home sales saw a dip, home prices increased 6.2% compared to April 2016, with the median price for Lubbock area homes being $164,000.

Lubbock contines to be a strong seller's market in most price ranges.  The number of active listings on the market decreased 5.7% compared to April 2016 with 740 active listings. Monthly housing inventory remained in the 2 month range at 2.3 months in April 2017, down slightly from 2.5 months in April 2016. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced. Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months. Lubbock's home invetory has not been more than 3 months since November 2014.  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. 

Homes spent an average of just 70 days on the market, almost two weeks less than in April of last year.

April 2017 Statistics At-A-Glance

  • 316 – Homes sold in April 2017, 14.6% less than April 2016.
  • $164,000 – Median home sales price, up 6.2% compared to April 2016.
  • 2.3 – Monthly housing inventory in April 2017, down slightly from April 2016.
  • 70 – Average number of days homes spent on the market in April 2017, 13 days less compared to April 2016.
  • 740 – Active home listings on the market in April 2017, down 5.7% compared to April 2016.
  • pdf 2017 April Infographic (372 KB)

The real estate market is one of the best indicators of how the economy is doing and although April posted a down month for sales, all other indicators point to another strong summer selling season. Contact your Lubbock REALTOR® to find out the specifics of your neighborhood. Local REALTORS® have access to the best information about the market.

About the Lubbock Association of REALTORS®

Lubbock REALTORS®, alongside REALTORS® throughout Texas, work daily during the Texas legislative session to make sure Texas remains one of the strongest housing markets in the nation, protect the right of private-property owners, keep homeownership affordable, and promote public policies that benefit homeowners.  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 ownership.

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