March 18, 2025

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

Homes sales in the City of Lawrence fell by 3.4% in February compared to the prior year. Sales in February 2025 totaled 57 units, down from 59 in 2024.

Among existing homes, 53 units sold in February, a decrease of 8.6% from 58 units that sold in 2024. The average sale price of existing homes was $324,336. This represents an increase of 0.2% from the February 2024 average price of $323,677.

For new construction, 4 sales occurred in February, up from 1 unit the prior year, an increase of 300.0%. The average sale price of new homes in February was $513,675, down 24.1% from the same period last year.

A total of 65 contracts for sale were written in February 2025, up from 58 in February 2024. This is an increase of 12.1%. 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 98 units at the end of February, which is down from 119 homes that were on the market at the end of February last year. At the current rate of sales, this figure represents 1.3 months' supply of homes on the market.

According to Bailey Stuart, President of the Lawrence Board of REALTORS®, “The low inventory level has been a concern in the local housing market for several years. We saw some gains in inventory this past year, but in early 2025 we took a step back and now have just 1.3 months’ housing supply available. Catching the attention of some buyers is a new status for the local Multiple Listing Service (MLS) called ‘Coming Soon.’ Although listing a home as Coming Soon isn’t a fit for every seller, we’re now seeing some homes listed as Coming Soon in the MLS with a targeted begin showing date. Coming Soon listings cannot be shown to buyers until the begin showing date, but they do give buyers and real estate agents a glimpse at additional inventory that will be coming onto the market soon. For questions about ‘Coming Soon’ listings, or for any of your real estate needs, contact an area 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 February 2025