Lamesa, TX

The housing market in this ZIP code is currently classified as Very Weak. The pending ratio has declined significantly year-over-year, while active listings have grown substantially. Price growth is decelerating, and the share of listings with price reductions remains notable, indicating a challenging environment.

The median listing price increased 2.1% month-over-month and 5.5% year-over-year. However, the median price per square foot decreased 3.8% year-over-year, and the average listing price saw a significant decline of 18.9% year-over-year. Active listings expanded by 36.0% over the past year, reaching 34, while new listings remained stable year-over-year at 4. The pending ratio stands at 0.09, reflecting an 11.2% year-over-year contraction. Median days on market increased marginally by 1.4% year-over-year to 73 days, and the share of price-reduced listings is 20.0%, a slight improvement of 3.5% year-over-year.

The contracting pending ratio and substantial year-over-year increase in active listings suggest reduced competition and diminishing urgency among prospective purchasers. This imbalance in inventory pressure places greater emphasis on price discipline from sellers to facilitate transactions.

The average listing price of $217,992 significantly exceeds the median listing price of $189,400, indicating a segment of higher-priced properties in the market. However, the median price per square foot across all listings is $99, pointing to more moderate pricing at the top of the market relative to other segments.