It's hard to believe it's already May! There are certainly a lot more listings and more home sales this year. And while prices did dip just a little in April compared to March, so far the average sales price in Lawrence is holding level with where it was last year.
While things can certainly seem more hot-and-cold week by week and month by month, so far it's still a market that is strongly favoring sellers over buyers with only 1.3 months-of-supply. The difficulty has been applying the larger market-wide metrics to individual listings. While one home can fetch multiple offers, another will sit on the market a little longer. Some of those will suddenly see bursts of activity while others remain challenging. While the market is strong, it's not always equal, everywhere.
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
- April home sales increased 47.6% from the previous month (124 homes sold)
- Average price decreased 3.3% in April vs. the previous month, down to $348K
- Average Days-on-Market was down 45% at 22 Days-on-Market
- 162 homes were listed in April, 25 more than listed in March
- List-Price-to-Sales-Price Ratio for the month was 100.2%
- Average Per-Square-Foot was 182/sq.ft., a MoM decrease of 4.2%
Year-over-Year
- Home sales were up 6.9% in April '25 vs April '24, an increase of 8 homes sold
- Average Price was down YoY 4.8%
- Dollar Volume was up 1.9% for a total of $43.2M in the month
- The 162 homes listed last month was a 25.6% increase YoY
YTD
- Homes Sales are up 19% YTD through April; an increase of 55 homes sold this year
- Average Price is up 0.4% this year
- Average DOM is up from 29 Days to 36 Days, a 24.1% increase
- 433 Homes have been listed so far this year; increase of 8.8% from last year
- Dollar Volume is up 18.6% YTD for a total of $121.2M
- Average Per-Square-Foot for the year is at $182/sq.ft., up from $174/sq.ft. in 2024
Active Properties
- There are 138 "Active" properties in Lawrence, an increase of 53.3% since my last update
- There are 166 properties currently listed as "Under Contract" which is an increase of 17.7% since my last update
- Months-of-Supply: There is currently 1.3 months-of-supply in Lawrence
This Spring Market will remain strong through this month and all the way through this 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
