It's September and we are now in the fall market! The numbers tell us a story throughout the year as we go along. This year is a continuation of the saga of the seller's market.
Prices remain very strong in Lawrence. While average price dipping a little in August compared to July, the YTD average is still up by 4.2% over last year. Average days-on-market remains low at 20 days. There have been more home sales this year, both year-to-date and year-over-year in August. Home prices were up a staggering 23% this past month over August of 2024. And the average per-square-foot figure in Lawrence is holding strong around $194/sq.ft last month.
However, when one takes a peak through the MLS, it's clear that there are a ton of price reductions and some homes sitting far longer on the market than average. Other homes come on the market and are seeing multiple offers and going under contract within days. What gives? I think the difference is that some home seller resist the urge to overprice their homes and some do not. Buyers are showing more discernment these days and are viewing properties with a sharper eye. If they perceive the house to be overpriced, they avoid it.
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
- August home sales increased 9.9% from the previous month (100 homes sold)
- Average price decreased 4.6% in August vs. the previous month, down to 372.3K
- Average Days-on-Market was up 17.6% at 20 Days-on-Market
- 85 homes were listed in August, 19 fewer than listed in July
- List-Price-to-Sales-Price Ratio for the month was 98.5%
- Average Per-Square-Foot was 194/sq.ft., flat MoM
Year-over-Year
- Home sales were up 23.5% in August '25 vs August '24, an increase of 19 homes sold
- Average Price was up YoY 2.2%
- Dollar Volume was up 26.1% for a total of $37.2M in the month
- The 85 homes listed last month was a 16.7% decrease YoY
YTD
- Homes Sales are up 15.7% YTD through August; an increase of 99 homes sold this year
- Average Price is up 4.2% this year
- Average DOM is up from 21 to 24 Days, a 14.3% increase
- 914 Homes have been listed so far this year; increase of 2.4% from last year
- Dollar Volume is up 20.6% YTD for a total of $269.2M
- Average Per-Square-Foot for the year is at $193/sq.ft., up from $186/sq.ft. in 2024
Active Properties
- There are 119 "Active" properties in Lawrence, a decrease of 7.8% since my last update
- There are 66 properties currently listed as "Under Contract" which is a decrease of 36.5% since my last update
- The average list price of homes currently Under Contract is $ 451,063
- Months-of-Supply: There is currently 1.4 months-of-supply in Lawrence
The market numbers continue to be clear: 2025 is a stronger market than last year by almost every metric. There have been almost 16% more homes sold in town this year compared to last year. And even with more homes sold, the average price continues to climb. The price-per-square foot is up almost 4% and the total market volume is up a massive 20.6% up to almost $270 million in total market volume inside the city limits.
The story these numbers tell is that we are still no where near a buyer's market in Lawrence, KS. While buyers are exercising more power within the marketplace, there are still multiple offers on certain properties. If the house is in a great location, in great condition and priced correctly, it will go under contract quickly. If you're a home seller thinking about how to price your home, pricing it under, not over, market value will likely lead to the best results.
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
