May 21, 2019
Lawrence Board of REALTORS® Releases Home Sales Figures for April 2019
Homes sales in the City of Lawrence fell by 7.4% in April compared to the prior year. Sales in April 2019 totaled 113 units, down from 122 in 2018.
Among existing homes, 104 units sold in April, essentially unchanged from the same period last year. The average sale price of existing homes was $211,440. This represents a decrease of 7.7% from the April 2018 average price of $229,147.
For new construction, 9 sales occurred in April, down from 18 units the prior year, a decrease of 50.0%. The average sale price of new homes in April was $380,647, down 3.7% from the same period last year.
A total of 158 contracts for sale were written in April 2019, down from 174 in April 2018. This is a decrease of 9.2%. 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 245 units at the end of April, which is up from 192 homes that were on the market at the end of April last year. At the current rate of sales, this figure represents 2.5 months' supply of homes on the market.
According to Greta Carter-Wilson, President of the Lawrence Board of REALTORS®, “The local housing market continues to experience low inventory, even lower than last year in certain price ranges. Due to this, buyers continue to struggle to find suitable homes in the low to moderate price ranges. And many times, buyers in the low to moderate price range compete for homes or lose out completely. We need more homes on the market.”
For questions and/or comments, please contact LBOR President Greta Carter-Wilson at 785-550-4844 or GretaCW@KW.com.
Complete statistical summaries for Lawrence and Douglas County are available at http://www.lawrencerealtor.com/market-statistics/.