Lubbock, TX home prices and housing market

Lubbock sellers are asking about two hundred ten thousand dollars for homes worth roughly one hundred fifty-five thousand dollars, and it is catching up with them. If you are thinking about selling this year, the distance between those two numbers is the thing to understand. The typical Lubbock home is worth about one hundred fifty-five thousand dollars, up barely a fifth of a percent from a year ago, so prices here have essentially gone nowhere for twelve months. Meanwhile there are about one thousand three hundred homes for sale, with roughly 490 fresh listings coming on, which gives buyers plenty to choose from. Homes are taking a median of forty six days to sell, so this is not a market where you list high and let buyers chase you. Yet the median asking price sits near two hundred ten thousand dollars, far above what homes are actually worth. Here is what that tension produces: nearly one in five listings has already cut its price. Sellers who aim high are sitting, then cutting, and often selling for less anyway. If you are listing in Lubbock, price to the one hundred fifty-five thousand dollars reality, not the two hundred ten thousand dollars wish. A well priced home still sells in a reasonable time here, while an overpriced one just becomes the next price cut. Find out where your home actually sits with a free estimate at Home Value Pros dot com.