September 23, 2025

Lawrence Board of REALTORS® Releases Home Sales Figures for August 2025

Homes sales in the Lawrence Metropolitan Area rose by 18.8% in August compared to the prior year. Sales in August 2025 totaled 114 units, up from 96 in 2024.

Among existing homes, 109 units sold in August, an increase of 19.8% from 91 units that sold in 2024. The average sale price of existing homes was $390,860. This represents an increase of 14.3% from the August 2024 average price of $342,098.

For new construction, just 2 sales occurred in August. Only 19 new construction sales have occurred in January to August of 2025, compared to the same months in 2024 – 28 sales, 2023 – 35 sales, 2022 – 66 sales, and 2021 – 86 sales. The average sale price of new construction homes in August was $460,950, down 4.0% from the same period last year.

According to Bailey Stuart, President of the Lawrence Board of REALTORS®, “Often overlooked on these monthly releases are the dramatic and historic lows we continue to see with new construction in the City of Lawrence. Once a significant economic driver at roughly 300 units sold per year in the early 2000’s, current options for new construction have been exhausted. There are many factors for the downturn, i.e., recession in 2007-2009. A more recent factor in the dramatic shift followed adoption of Plan 2040 in late 2019. Plan 2040 requires a ‘Community Benefit’ as a condition of annexation (mandated income-based affordable housing as defined by HUD, donated park space, etc.). Since the adoption of Plan 2040, few developments have been proposed, and most existing buildable lots have been exhausted.”

A total of 85 contracts for sale were written in August 2025, up from 73 in August 2024. This is an increase of 16.4%. Contracts written during the month reflect, in part, sales that will close in the near future.

The inventory of active listings in the Lawrence Metropolitan Area stood at 200 units at the end of August, which is down from 224 homes that were on the market at the end of August last year. At the current rate of sales, this figure represents 2.0 month’s supply of homes on the market.

Stuart added, “The upward trend for existing home sales continues, despite a recent decline in the number of listings available. Interest rates also continue to improve as a reaction to the .25% rate drop by the Federal Reserve. This fall is a great time to buy, ahead of upward pricing pressures that are sure to exist next spring. The process is complex, and Buyers and Sellers are well advised to contact a real estate professional who is a REALTOR® to help evaluate their options in the housing market.”

For questions and/or comments, please contact LBOR President Bailey Stuart at 785-766-7840 or BaileyStuart@askMcGrew.com.

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

Three-Year Comparison Through August 2025