November 27, 2019
Lawrence Board of REALTORS® Releases Home Sales Figures for October 2019
Homes sales in the City of Lawrence rose by 15.7% in October compared to the prior year. Sales in October 2019 totaled 96 units, up from 83 in 2018.
Among existing homes, 91 units sold in October, an increase of 19.7% from 76 units that sold in 2018. The average sale price of existing homes was $227,409. This represents a decrease of 6.0% from the October 2018 average price of $241,969.
For new construction, 5 sales occurred in October, down from 7 units the prior year, a decrease of 28.6%. The average sale price of new homes in October was $342,480, down 1.2% from the same period last year.
A total of 93 contracts for sale were written in October 2019, up from 69 in October 2018. This is an increase of 34.8%. 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 302 units at the end of October, which is up from 252 homes that were on the market at the end of October last year. At the current rate of sales, this figure represents 3.1 months' supply of 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 https://www.lawrencerealtor.com/marketstatistics.