Lubbock, Texas Housing Market

How much can you negotiate in Lubbock?

Only 47 out of every 100 homes for sale have found a buyer. The other 53 are still waiting. Your offer may be the only one on the table. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing, not from the whole market.

A typical Lubbock home takes 45 days to find a buyer. Half of them take even longer. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago. There are 1,267 homes for sale in Lubbock. That is 5.1 times the tightest month on record, but below the peak of 1,817. Supply is shrinking against last year.

What to do about it

• Start in 79411, 79403, and 79404. Those are the three softest ZIP codes in Lubbock.
• Filter for homes listed 60+ days ago that have already cut their price.
• Offer below the reduced price.
• Keep your inspection and financing contingencies.
• In 79411 only 25 out of 100 homes have a buyer. You can lose a few offers there and still win.

Is now a good time to buy in Lubbock?

Asking prices are 13.6% below their Feb 2022 peak. You are not buying at the top. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Lubbock prices rose in only 63 of the last 108 months. This market goes up and down. Timing matters here. Growth will not rescue a bad price.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

What numbers should you underwrite a Lubbock deal with?

• Price growth to assume — +0.8%/yr. 1 year: +0.5% · 5 years: +0.8% · ten years: +3.3%. Do not use the ten-year rate. Most of that growth landed in the 2020 and 2021 boom. The five-year rate is what Lubbock does without one. Underwrite closer to +0.8%. Measure growth per square foot. Lubbock median list price grew 1.8% a year, but price per square foot grew 3.3%. The gap is smaller homes, not weaker growth. The house you buy will not shrink. The one-year rate is a timing signal. It is not an underwriting input.
• Months of carrying cost — 2. A typical home takes 45 days to sell. Budget that long when you exit or refinance.
• Odds you cut your price to sell — 1 in 6. About 16% of homes on the Lubbock market right now have already cut their asking price. Assume you are one of them when you sell. Do not underwrite an exit at your asking price.
• Comp on this, not median price — $139/sqft. The typical Lubbock listing shrank from 2,334 to 1,952 sqft since Jul 2016. So median price hides real growth: 38% per sqft versus 19% on the median. Comp on median price and you will overpay for small homes.
• Competition when you exit — -9%. That is how much the number of homes for sale shrank in a year. Your resale will face a smaller crowd than today's comps did.

Is Lubbock a buyer's or seller's market in 2026?

Yes, if you negotiate. Buyers have the upper hand in Lubbock right now. 0.47 out of every 100 homes for sale have a buyer, 16% of sellers have cut their price, and a typical home takes 45 days to sell.

Are Lubbock home prices going up or down?

Asking prices are 13.6% below their Feb 2022 peak. You are not buying at the top. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.

What price growth should I assume for Lubbock?

+0.8%/yr. 1 year: +0.5% · 5 years: +0.8% · ten years: +3.3%. Do not use the ten-year rate. Most of that growth landed in the 2020 and 2021 boom. The five-year rate is what Lubbock does without one. Underwrite closer to +0.8%. Measure growth per square foot. Lubbock median list price grew 1.8% a year, but price per square foot grew 3.3%. The gap is smaller homes, not weaker growth. The house you buy will not shrink. The one-year rate is a timing signal. It is not an underwriting input.

How fast are homes selling in Lubbock?

A typical Lubbock home takes 45 days to find a buyer. Half of them take even longer. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago.

Which Lubbock ZIP code has the most negotiating room?

79411. Only 25 out of 100 homes there have a buyer, 28% have cut their price, and a typical home takes 66 days to sell.