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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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2017 March Lubbock Area Housing Report

 Positive Month for Sales and Prices in March 2017

April 10, 2017 – This week, we released the March 2017 Lubbock Area Housing Market Report. Here are our findings: Lubbock area home sales increased 6.1% in March 2017 with 368 homes sold.  Home prices increased 3% compared to March 2016, with the median price for Lubbock area homes being $149,750.

Lubbock contines to be a strong seller's market in most price ranges.  The number of active listings on the market decreased slightly (0.1%) from March 2016 with 780 active listings. Monthly housing inventory remained in the 2 month range at 2.4 months in March 2017, down from 2.5 months in March 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 87 days on the market, 5 days less than March 2016.

March 2017 Statistics At-A-Glance

  • 368 – Homes sold in March 2017, 6.1% more than March 2016.
  • $149,750 – Median home sales price, up 3.3% compared to March 2016.
  • 2.4 – Monthly housing inventory in March 2017, down slightly from March 2016.
  • 87 – Average number of days homes spent on the market in March 2017, 5 days less compared to March 2016.
  • 780 – Active home listings on the market in March 2017, down 0.1% compared to March 2016.
  • pdf 2017 March Infographic (372 KB)

The real estate market is one of the best indicators of how the economy is doing and Lubbock's real estate market is strong. As such, the demand for Lubbock real estate remains strong and enduring. Local REALTORS® are the best source for 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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2017 February Lubbock Area Housing Report

 Lubbock Area Home Sales Increase Slightly, Prices Up Again in February 2017

March 24, 2017 – This week, we released the Lubbock February 2017 Lubbock Area Housing Market Report. Here are our findings: Lubbock home sales increased just 0.9% compared to February 2016, with 219 homes sold.  Home prices increased again after dipping in January. The median price for Lubbock area homes was up 7% year-over-year to $144,450 during the same time frame.

The number of active listings on the market decreased 5.9% from February 2016, with just 749 active listings. According to the report, Lubbock contines to be a strong seller's market.  Monthly housing inventory remained in the 2 month range at 2.3 months in February 2017, down from 2.6 months in February 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 85 days on the market, 10 days less than February 2016.

February 2017 Statistics At-A-Glance

  • 219 – Homes sold in February 2017, 0.9% more than February 2016.
  • $144,450 – Median home sales price, up 7% compared to February 2016.
  • 2.3 – Monthly housing inventory in February 2017, down slightly from February 2016.
  • 85 – Average number of days homes spent on the market in February 2017, 10 days less than February 2016.
  • 749 – Active home listings on the market in February 2017, down 5.9% compared to February 2016.
  • pdf 2017 February Infographic

The real estate market is one of the best indicators of how the economy is doing and Lubbock's real estate market is strong. As such, the demand for Lubbock real estate remains strong and enduring. Local REALTORS® are the best source for 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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2017 January Lubbock Area Housing Report

 Lubbock area home sales increase, prices dip in January 2017

February 24, 2017 – The Lubbock area posted a positive start for 2017 as Lubbock home sales increased 6.9% compared to January 2017.  However, home prices saw a decline for the first time since January 2013, with the median price for Lubbock area homes falling 7.6% year-over-year, to $136,500 during the same time frame.

The number of active listings on the market decreased 2.4% from January 2016, with 799 active listings. According to the report, Lubbock contines to be a strong seller's market.  Monthly housing inventory was 2.4 months in January 2017, down slightly compared to January 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. 

The number of days on the market increased slightly, just 2 days more than January 2016.

January 2017 Statistics At-A-Glance

  • 216 – Homes sold in January 2017, 6.9% more than January 2016.
  • $136,500 – Median home sales price, down 7.6% compared to January 2016.
  • 2.4 – Monthly housing inventory in January 2017, down slightly from January 2016.
  • 58 – Average number of days homes spent on the market in January 2017, 2 days more than January 2016.
  • 799 – Active home listings on the market in January 2017, down 2.4% compared to January 2016.
  • pdf 2017 January Infographic (657 KB)

The real estate market is one of the best indicators of how the economy is doing and Lubbock's real estate market is strong. As such, the demand for Lubbock real estate remains strong and enduring. Local REALTORS® are the best source for 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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