February 21, 2025

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

Homes sales in the City of Lawrence rose by 19.5% in January compared to the prior year. Sales in January 2025 totaled 49 units, up from 41 in 2024.

Among existing homes, 49 units sold in January, an increase of 28.9% from 38 units that sold in 2024. The average sale price of existing homes was $366,863. This represents an increase of 38.1% from the January 2024 average price of $265,696.

For new construction, 0 sales occurred in January, down from 3 units the prior year, a decrease of 100.0%. The last time 0 new construction sales occurred in a month was January 2015.

A total of 62 contracts for sale were written in January 2025, up from 60 in January 2024. This is an increase of 3.3%. 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 107 units at the end of January, which is down from 108 homes that were on the market at the end of January last year. At the current rate of sales, this figure represents a 1.4 month’s supply of homes on the market.

According to Bailey Stuart, President of the Lawrence Board of REALTORS®, The average sale price in January was $366,863, reflecting a 33.8% increase compared to the same time last year. The median days on market was 29 days, up from 16 days in December. As expected in the winter months, January saw a slight dip in available inventory compared to the prior month. While buyers are still facing limited options due to low housing inventory, many are hesitant to settle for just any property. They're waiting for the right balance of condition and price. When these factors align, homes generate interest quickly, and buyers are moving fast to secure their ideal properties. Market dynamics remain volatile, so if you're considering buying or selling a home, it’s important to consult with a real estate professional who is a REALTOR®.”

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 January 2025