facebook

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

2018 April Lubbock Area Housing Report

 Large Increase in Closed Sales, Slight Price Increase, Another Increase in Active Listings

May 12, 2018 – Lubbock area home sales increased almost 30% in April 2018 with 407 closed sales, according to our April 2018 Lubbock Area Housing Report.  The median home price increased slightly compared to April 2017, with the median price for Lubbock area homes being $165,000.

The number of active listings on the market posted another substantial increase - almost 30% - with 973 active residential homes on the market in April 2018.  Even with the large increase in active listings, Lubbock remains a strong seller's market in the predominent price range.  Lubbock's monthly housing inventory was just 2.9 months in April 2018, a slight increase from 2.3 months in April 2017.  The Real Estate Center at Texas A&M University states that 6.5 months represents a market in which supply and demand for homes is balanced.*

Homes spent just 1 day more on the market in April 2018 vs April 2017, with a total of 71 days from when a listing goes on the market to when it closes. 

April 2018 Statistics At-A-Glance

  • 407 – Homes sold in April 2018, 28.8% more than April 2017.
  • $165,000 – Median home sales price in April 2018, an increase of 0.9% compared to April 2017.
  • 973 – Active homes on the market in April 2018, 29.2% more than April 2017.
  • 2.9 – Monthly housing inventory, up from 2.3 months in April 2017.
  • 71 – Number of days homes spent on the market until the time is closes, 1 day more than April 2017.
  • pdf 2018 April 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 our 1,200+ members are committed to serving the Lubbock area by promoting REALTOR® integrity while advocating for private property rights and home ownership.

###

 

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