July 18, 2019
Lawrence Board of REALTORS® Releases Home Sales Figures for June 2019
Homes sales in the City of Lawrence fell by 13.1% in June compared to the prior year. Sales in June 2019 totaled 153 units, down from 176 in 2018.
Among existing homes, 140 units sold in June, a decrease of 14.6% from 164 units that sold in 2018. The average sale price of existing homes was $249,760. This represents an increase of 11.9% from the June 2018 average price of $223,105.
For new construction, 13 sales occurred in June, up from 12 units the prior year, an increase of 8.3%. The average sale price of new homes in June was $366,769, up 7.2% from the same period last year.
A total of 121 contracts for sale were written in June 2019, essentially the same as June 2018. 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 293 units at the end of June, which is up from 238 homes that were on the market at the end of June last year. At the current rate of sales, this figure represents 3.1 months' supply of homes on the market.
According to Greta Carter-Wilson, President of the Lawrence Board of REALTORS®, “For the last several years Lawrence has seen a shortage in available inventory. Inventory in the below 200K range continues to be in short supply and has driven up prices. The 400-500K price range, for example has slowed but therefore offers great value in selling price especially for existing homes. Buyers should realize the value and quality there is in these price ranges especially with the low interest rates.”
For questions and/or comments, please contact LBOR President Greta Carter-Wilson at 785-550-4844 or GretaCW@KW.com.
For more go to lawrencerealtor.com/marketstatistics