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You are here: Home | Buyers and Sellers Information | Consumer News | 2017 November Lubbock Area Housing Report

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.

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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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