July 10, 2024

Lawrence Board of REALTORS® Releases Home Sales Figures for June 2024

Homes sales in the City of Lawrence fell by 28.0% in June compared to the prior year. Sales in June 2024 totaled 85 units, down from 118 in 2023.

Among existing homes, 83 units sold in June, a decrease of 28.4% from 116 units that sold in 2023. The average sale price of existing homes was $333,783. This represents an increase of 1.1% from the June 2023 average price of $330,222.

For new construction, 2 sales occurred in June, essentially unchanged from the prior year. The average sale price of new homes in June was $437,950, down 4.9% from the same period last year.

A total of 81 contracts for sale were written in June 2024, up from 80 in June 2023. This is an increase of 1.2%. 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 183 units at the end of June, which is up from 127 homes that were on the market at the end of June last year. At the current rate of sales, this figure represents 2.5 months' supply of homes on the market.

According to Jill Ballew, President of the Lawrence Board of REALTORS®, “Even though we saw home sales were down in June, the market remains slightly ahead of the 1st half of last year at this time. With the average days on the market up to 19 (from 11 in 2023), the choices and options are growing for home purchasers with a 2.5 months’ supply of homes available. However, market dynamics are still complex and if you’re considering buying or selling a home, be sure to consult with a real estate professional who is a REALTOR®.”

For questions and/or comments, please contact LBOR President Jill Ballew at 785-760-7732 or jillballew@stephensre.com.

Complete statistical summaries for Lawrence and Douglas County are available at http://www.lawrencerealtor.com/market-statistics/.

Three-Year Comparison Through June 2024