What's Happening?
In September, the median home listing price in Lubbock County was $249,900, a slight decrease from the previous month's $250,000, according to data from Realtor.com. Compared to September 2024, the median price increased
slightly from $249,450. The median home size was 1,884 square feet, listed at $139 per square foot, with the price per square foot remaining mostly unchanged from the previous year. Homes in Lubbock County had a median listing duration of 57 days, compared to the national median of 62 days. The number of new listings in September was 470, a 3.3% decrease from the previous year. The report focuses on single-family homes, condominiums, and townhomes, excluding most new constructions and pending sales.
Why It's Important?
The slight decline in home listing prices in Lubbock County reflects broader trends in the housing market, where prices are stabilizing after a period of rapid increases. This stabilization could benefit potential homebuyers by making homes more affordable, although it may also indicate a cooling market that could affect sellers' ability to achieve high returns. The decrease in new listings suggests a potential tightening of the market, which could lead to increased competition among buyers. The data provides valuable insights for real estate investors and policymakers monitoring housing affordability and market dynamics.
