The Spring Market is Lawrence is underway! So far, this is shaping up to be a very strong Seller's Market this year. Sale prices are up over 6% for the year so far and home sales are already up almost 15% over last year.
Multiple offer situations are back. Not that they ever truly went away. Cool houses that aren't over-priced usually get multiple offers. But they are probably more common this spring than they've been since all the way back in spring of 2022. If you are buying in this market, you should be armed with this information!
All of the stats that follow are sourced from the Lawrence MLS. What follows is a look at some market numbers specifically within the city limits of Lawrence:
Month-over-Month
- March home sales increased 18.6% from the previous month (70 homes sold)
- Average price increased 1.6% in March vs. the previous month, up to $364.6K
- Average Days-on-Market was up 12.8% at 44 Days-on-Market
- 134 homes were listed in March, an increase from 72 listed in February
- List-Price-to-Sales-Price Ratio for January was 99.3%
- Average Per-Square-Foot in January was 198/sq.ft., a MoM increase of 8.2%
Year-over-Year
- Home sales were up 22.8% in March '25 vs March '24, an increase of 13 homes sold
- Average Price was down YoY 10.5% compared to March '24
- Dollar Volume was up 9.9% vs March '24 for a total of $25.5M in the month
- The 134 homes listed last month was a 3.1 increase vs. March '24
YTD
- Homes Sales are up 14.6% YTD through March; an increase of 23 homes sold this year
- Average Price is up 6.1% this year
- Average DOM is up from 32 Days to 45 Days, a 37.1% increase
- 268 Homes have been listed so far this year, a 0.4% decrease from last year
- Dollar Volume is up 21.5% YTD for a total of $66.1M
- Average Per-Square-Foot for the year is at $189/sq.ft., up from $183/sq.ft. in 2024
Active Properties
- There are 90 "Active" properties in Lawrence, an increase of 32% since my last update
- There are 141 properties currently listed as "Under Contract" which is an increase of 81% since my last update
- Months-of-Supply: There is currently 0.9 months-of-supply in Lawrence
While turmoil in the markets is what's making headlines right now, there's little impact on the day-to-day in real estate. In fact, when there is stock market turmoil, real estate is often viewed as a safe bet by comparison. While there are large-market complications beyond my prediction abilities, don't expect to see any declines in real estate values or buyer activity based on current events.
This Spring Market will remain strong through this month and all the way through next month. After Memorial Day, things will be begin to slow down. At the moment, this is the busiest we've ever been at R+K Real Estate. If you're thinking about buying or selling, now is the best time of year to reach out!
Stay tuned to R+K Real Estate for great new content, updates, advice, opinions and more in 2025. We plan to continue our advance of transparency, consumer advocacy, and empowering our clients with alternate business models designed to provide high levels or real estate service with drastically reduced commissions!
-Ryan Desch, Broker/Owner R+K Real Estate Solutions
