Is Lufkin, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lufkin was a Neutral Market.
Key Takeaway
Lufkin is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lufkin, TX
How much do homes in Lufkin, TX cost?
Median Sold Price
$259,900
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lufkin have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in Lufkin was $259,900 in May 2024, up 0.7% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $172.5K | $158.5K | -8.1% |
| 3 Bedrooms | $240K | $211.8K | -11.7% |
| 4 Bedrooms | $397K | $390K | -1.8% |
| 5+ Bedrooms | $805K | $600K | -25.5% |
Summary: Lufkin housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8.1%, 3 bedroom homes decreased by 11.7%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 25.5%.
Housing Supply in Lufkin, TX
How many homes are available in Lufkin, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 71 | 90 | +26.8% |
Summary: The Lufkin real estate market had 90 homes for sale in May 2024, a 26.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 43 | 52 | +20.9% |
| 4 Bedrooms | 19 | 28 | +47.4% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Lufkin housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20.9%, 4 bedroom homes increased by 47.4%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lufkin, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Lufkin in May 2024, down by 7.7% month-over-month. Of the 10 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% were sold over asking.
Days on Market for Lufkin, TX
How long does it take to sell a home in Lufkin, TX?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 95 Days | 103 Days | +8.5% |
Summary: Homes in Lufkin had an average of 103 days on market in May 2024, up by 8.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Lufkin are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 12 homes were sold in Lufkin; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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