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December 2023 Lubbock TX Real Estate Market Update

December 2023 Real Estate Market Update in Lubbock TX

Oh 2023, what a year you have been! This year has been such an interesting year in real estate in every way possible. Overall though the market has actually done better than most people would bet. It has felt like a long and interesting year for most of us in the real estate industry but the market has really held up quite well. Compared to 2022 our sold’s are only down 8% and pending’s are down 2.1%. We do currently have 1350 homes on the market compared to 1011 in 2022 which puts us at 4.8 months of inventory which is a very balanced healthy market.
As, you have probably heard we received some very welcomed news from the Federal Reserve last week saying they would be cutting interest rates 3 times next year (Praise God Hallelujah!) This is amazing news for both buyers and seller’s and has us very optimistic about what 2024 has in store for the real estate market.

We predict that come January the market will begin picking up very quickly here in Lubbock. Based on our personal experience we believe lots of buyers have remained on the sidelines this year and will be coming back out once interest rates have a 6 in front of it. If you are thinking about buying I would do something sooner rather than later. Don’t wait for everybody else to decide it’s a great time to buy. For our seller’s, we think it will be just the market you’ve been waiting for! A market where you can sell but also have hopes of finding a home. 2024 will be a year for us all! If you are planning to buy a home, sell a home, or invest in real estate in the Lubbock TX area then you should give The Lindsey Bartley Team a call! We would love to help make your move be the best it can possibly be!

The Lindsey Bartley Team Taylor Reid Realty
11907 Frankford Ave. Lubbock, TX 79424
Want to buy a home in the Lubbock area?
Looking to sell your Lubbock area home?
Visit us on Facebook:   / lindseybartleyteam  
LinkedIn:   / lindsey-bartley-team  

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Lindsey Bartley Team at Taylor Reid Realty- Lubbock Realtor
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