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

2018 May Lubbock Area Housing Report

 Small but Positive Increase in Sales and Prices, Continued Increase in Active Listings

June 16, 2018 – Lubbock area home sales increased 4.3% in May 2018 with 463 closed sales, according to our May 2018 Lubbock Area Housing Report.  The median home price increased almost 5% compared to May 2017, with the median price for Lubbock area homes closing at $162,500.

The number of active listings on the market posted another substantial increase - almost 27% - with 1,050 active residential homes on the market in May 2018.  Despite another increase, our market is still a strong seller's market in the predominent price range.  Lubbock's monthly housing inventory was just 3.1 months in May 2018, up slightly from 2.6 months in May 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 a total of 73 days from when a listing goes on the market to when it closes.  This is one day less than May 2017. 

May 2018 Statistics At-A-Glance

  • 436 – Homes sold in May 2018, 4.3% more than May 2017.
  • $162,500 – Median home sales price in May 2018, an increase of 4.8% compared to May 2017.
  • 3.1 – Monthly housing inventory in May 2018, up from 2.6 in May 2017.
  • 73 – Total number of days homes spent on the market until the time is closes, 1 day less than May 2017.
  • 1,050 – Active home listings on the market in May 2018, an increase of 29.2% compared to May 2017.
  • pdf 2018 May 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.

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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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