78947, Lexington, TX

The Lexington, TX zip code 78947 has a population of around 36,000 people and an average home value of $211,000. The median home value in the Lexington area is about $212,000 which is about 2% higher than the statewide median home value of $205,500. The percentage of homes in Lexington that are valued at more than $300,000 is about 3% higher than the statewide percentage of homes that are valued at more than $300,000.

There are a total of 953 homes in the Lexington zip code and 597 (or 62%) of those homes are occupied. This means that there are approximately 367 vacant homes in the Lexington area which would likely lead to an increase in home values if they were to become available for sale. In addition to vacant homes, there is also a moderate amount of inventory (about 4 months worth) on the market which could lead to increased prices if no new listings come up for sale within that time period.

When it comes to buying a home in Lexington, buyers should be aware that there is not a lot of inventory available on the market right now so they may have to wait awhile before they can purchase a home. Additionally, buyers should be prepared to pay somewhat higher prices compared to other areas because demand is high and competition for properties is stiffer.