The market in Lubbock Tx is pretty stable until you pass into the homes above $500,000 then we have a saturation of homes on the market and few buyers.
Look these over if you are thinking of buying or selling in the Lubbock, TX real estate market. It is a great time to buy!
Currently 1695 properties listed for sale in Lubbock Multiple Listing ranging in price from:
$9,950 to $1,749,000.
Statistics for properties: October 2011:
(DOM= Days on Market)
(APR=Asking Price Received)
ACTIVE PROPERTIES: $9,950 to $150,000: 1074 properties/ average DOM= 101
SOLD: 136/average DOM=102/94.70% of APR/10 months to absorb current inventory
ACTIVE PROPERTIES: $150,001 to $300,000: 423 properties/average DOM= 103
SOLD: 59/average DOM= 113/97.45% of APR/7 months to absorb current inventory
ACTIVE PROPERTIES: $300,001 to $500,000: 109 properties/average DOM= 109
SOLD: 11/average DOM=82/97.54% of APR/9 months to absorb current inventory
ACTIVE PROPERTIES: $500,001 to $2,000,000: 89 properties/average DOM=143
SOLD: 2/average DOM=291/built in 2008=96.27% of APR and built in 2011/100% of APR/44.5 months to absorb current inventory.
For more information visit The Diamond Group at www.lubbocktxhomes4sale.com