April 18, 2025

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

Homes sales in the City of Lawrence rose by 21.4% in March compared to the prior year. Sales in March 2025 totaled 68 units, up from 56 in 2024.

Among existing homes, 62 units sold in March, an increase of 14.8% from 54 units that sold in 2024. The average sale price of existing homes was $354,726. This represents a decrease of 12.1% from the March 2024 average price of $403,416.

For new construction, 6 sales occurred in March, up from 2 units the prior year, an increase of 200.0%. The average sale price of new homes in March was $484,783, down 8.9% from the same period last year.

A total of 117 contracts for sale were written in March 2025, up from 106 in March 2024. This is an increase of 10.4%. 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 115 units at the end of March, which is down from 124 homes that were on the market at the end of March last year. At the current rate of sales, this figure represents 1.5 months' supply of homes on the market.

According to Bailey Stuart, President of the Lawrence Board of REALTORS®, ®, “In March the Lawrence MLS added the Coming Soon status. This new status gives home sellers an opportunity to share details of their ‘upcoming’ listing, ahead of the date that showings can begin. While this might be frustrating to some home buyers (these homes cannot yet be shown), the overall impact of this is positive. Buyers find it helpful to see information about houses that will be available soon, and sellers now have an additional marketing option when listing their home for sale with a REALTOR®. Area REALTORS® have all of the tools available to help build a marketing strategy that fits a seller’s needs. All sellers and buyers have a unique set of circumstances, and with all of the complexities of the housing market, it pays to work with a real estate professional.”

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 March 2025