By james art Recently released data from Realtor.com for August shows that potential buyers and sellers in Lubbock County saw home sales prices higher than the previous month’s median of $220,000.
The median home sold for $225,512, an analysis of data from Realtor.com shows. That means August, the most recent month for which data is available, was up 2.5% from July.
Compared to August 2023, the average sales price of a home was down 2.6% compared to $231,562.
Realtor.com pulls sales data from real estate deeds, which causes the data to be delayed by several months. The statistics do not include homes currently listed for sale and are not directly comparable to listing data.
Information about your local housing market, along with other useful community data, can be found at data.lubbockonline.com.
Here’s a breakdown of average sales prices:
- Looking at single-family homes alone, the median sales price of $232,118 in Lubbock County was up 4.9 percent in August from $221,189 the previous month. Since August 2023, the sales price of single-family homes has increased 0.2% from an average of $231,562. No single-family homes sold for $1 million or more during the month.
- Condos and townhomes increased 2.7% in sales price in August to a median of $182,328 from $177,500 in July. Compared to August 2023, the sales price of condos and townhomes was down 29.5% from $258,495. One condo or townhome sold for $1 million or more during the month, compared to zero recorded transactions of at least 1 million dollars in August 2023.
About registered home sales in Lubbock County, Texas
In August, the number of recorded sales in Lubbock County decreased 6% from August 2023, from 585 to 550. All residential sales totaled $90.2 million.
In Texas, homes sold for a median price of $315,027 in August, down 2.6% from $323,486 in July. There were 33,641 recorded sales statewide in August, down 21.1% from the 42,616 recorded sales in August 2023.
Here’s a breakdown of the full state:
- The total value of recorded residential home sales in Texas fell 14.5% from $7.8 billion in July to $6.6 billion this August.
- Of all residential home sales in Texas, 0.09% of homes sold for at least $1 million in August, down from 0.11% in August 2023.
- Single-family home sales prices across Texas decreased 2.4% from an average of $325,025 in July to $317,299 in August. Since August 2023, the sales price of single-family homes statewide is up 0.1% from $317,026.
- Statewide, the sales price of co-ops and townhomes fell 3.5 percent from an average of $297,810 in July to $287,500 in August. The median sales price of co-ops and townhomes is down 3.4% from the median price of $297,500 in August 2023.
The median home sales price used in this report represents the midpoint of all homes or units listed for the given time period. The median offers a more accurate picture of what’s happening in the market than the average sales price, which would be the sum of all sales prices divided by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network published localized versions of this story on its news sites nationwide, generated with data from Realtor.com. Please leave feedback or corrections to this story here. This story was written by Ozge Terzioglu.