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What’s Going On in Our Market?

Here’s the latest info on what is happening in the Lubbock market.

The real estate market in Lubbock is still super hot. Our inventory is still down, so if you are thinking about selling a home, now is a great time. We currently have 1.1 months of inventory on the market, which is up a little bit from 0.9 last month. We currently have 522 homes on the market, compared to 667 at this time last year.

At this time last year, we sold 546 homes. Last month, we sold 494. Solds being down is due to low inventory, but we expect things to pick back up after Labor Day.  For buyers who’ve had it rough, now is a great time to capitalize on the slower market, start looking, and making offers. The list-to-sale price ratio is still averaging 100%. When you’re looking at homes, make sure that you’re focusing on homes that are in your price range.

If you’re in the market to buy or sell, please feel free to reach out to us. We’d love to be your partner in real estate.

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