Sellers find a market in LubbockSellers find a market in Lubbockhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=85792013-01-14T07:09:00Z2013-01-14T00:00:00Z

LUBBOCK - For the first time in several years, the Lubbock real estate market’s existing months of inventory for December dropped below 1,300 homes or 4.5 months and officially transitioned from a buyer’s to a seller’s market, carrying last year’s strong recovery trend into 2013.

Total residential dollar volume increased 29.3 percent from $32,436,160 in December 2011 to $41,940,836 in December 2012, and the year-to-date total residential dollar volume increased 23.1 percent from $422,097,477 in 2011 to $519,570,551 for 2012.

December residential property sales increased to 275, up 22.8 percent from 224 in December 2011. The median single-family home price increased 4.6 percent over the last year from $119,450 to $124,900.

The local commercial real estate market closed out 2012 at $51,746,466 in total sales. Two sizable non-residential land sales of more than $1 million were posted in the month of December alone.

Read more at the Lubbock Avalanche-Journal.

Lubbock Avalanche-Journal
http://lubbockonline.com/local-news/2013-01-10/lubbock-real-estate-market-opens-2013-high-note#.upbqqyjhsdcRead more at {Source}

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