April 2 2024

Lawrence Board of REALTORS® Releases Home Sales Figures for February 2024

Homes sales in the City of Lawrence rose by 62.9% in February compared to the prior year. Sales in February 2024 totaled 57 units, up from 35 in 2023.

Among existing homes, 56 units sold in February, an increase of 80.6% from 31 units that sold in 2023. The average sale price of existing homes was $324,880. This represents an increase of 6.4% from the February 2023 average price of $305,357.

For new construction, 1 sales occurred in February, down from 4 units the prior year, a decrease of 75.0%. The average sale price of new homes in February was $677,000, up 34.5% from the same period last year.

A total of 56 contracts for sale were written in February 2024, down from 62 in February 2023. This is a decrease of 9.7%. Contracts written during the month reflect, in part, sales that will close in the near future.

The inventory of active listings in the City of Lawrence stood at 119 units at the end of February, which is up from 83 homes that were on the market at the end of February last year. At the current rate of sales, this figure represents 1.6 months' supply of homes on the market.

For questions and/or comments, please contact LBOR President Jill Ballew at 785-760-7732 or jillballew@stephensre.com.

Complete statistical summaries for Lawrence and Douglas County are available at http://www.lawrencerealtor.com/market-statistics/.

Three-Year Comparison Through February 2024