LUBBOCK, Texas — Texas Realtors released a 2024 real estate year in review report. The number of homes sold was up in 14 markets, including Lubbock, and down in 12.
According to Texas Realtors’ statistics, the highest gain was 4.3 percent in the Lubbock Metropolitan Statistical Area, while the greatest decline was 6.8 percent in Beaumont-Port Arthur. Statewide, there was a marginal increase (0.7 percent) in home sales, the press release said.
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The following data included new and existing home sales in Lubbock, according to the Texas Realtors:
- The median home price was $232,000, down from 2.9 percent in 2023.
- The number of homes sold was 5,007, up 4.3 percent from 2023.
- The number of active listings was 1,600, up 30.3 percent from 2023.
- The number of months of inventory 3.5, compared to 3.3 in 2023.
- The number of average days on market was 47, eight days more than 2023.
- The median price per square foot was $136.17, up from 0.6 percent from 2023.
“The 2024 housing market looks to improve from last year. Interest rates have eased a bit, and the Lubbock economy remains strong,” the Lubbock Association of Realtors President Andrea Sturdivant.
The report noted that the data used comes from the Texas Realtors Data Relevance Project, a partnership with local realtor associations throughout the states. Analysis is provided through a research agreement with the Texas Real Estate Research Center at Texas A&M University…