LUBBOCK - Month-to-month inventory decreases for the third consecutive month indicate Lubbock real estate has settled into a sellers’ market, according to February’s Multiple Listing Service data released by The Real Estate Center at Texas A&M.
Lubbock began to transition to a sellers’ market in November when the month’s inventory dropped below six months. The Lubbock real estate market is at about 4.1 months of inventory, according to February 2013 figures — a 37.9 percent decrease from the same month last year.
February residential home sales increased to 250, up 24.4 percent from 201 for the same month last year. February’s average sales price, $164,495, was a 12.9 percent increase from $145,714 in February 2012.
Read more at the Lubbock Avalanche-Journal.
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