Thursday, August 8, 2013

Latest Trends in Lawrence KS Real Estate

The spring and summer of 2013 will most likely be remembered, by those of us in the Lawrence KS real estate business, as one of the best sales seasons since before the housing market crash of 2007-2008. Additionally, it's ushered in a new and refreshing wave of optimism for many agents and sellers. The selling frenzy was a long awaited one for those sellers who'd been trying to sell homes during the extended buyer's market.
Just this past Friday, the Lawrence Board of Realtors (LBOR) released it's latest sales data for Lawrence Ks homes market and I must say, it was more good news. The Lawrence KS real estate market continues to show signs of strength and stability. Lawrence Ks homes for sale are selling at increased numbers and elevated prices. Here are the statistics just released:
Home Sales Rose for 15th Straight Month in June
Total home sales in the city of Lawrence rose by 4.9% last month to 149 units, compared to 142 units in June 2012. Total sales volume was $29.9 million, up 5.7% from a year earlier. The median sale price in June was $167,750, up from $165,450 a year earlier. Homes that sold in June were typically on the market for 32 days and sold for 98.7% of their list prices.
The one problem that continues to plague Lawrence Ks Real Estate agents is the lack of homes to offer the buyers still out there combing through to find their "perfect" home.
Lawrence Inventory of Listings Down at End of June
The total number of active listings in the city of Lawrence at the end of June was 428 units, down from 536 at the same point in 2012. This represents a 2.9 months' supply of homes available for sale. The median list price of homes on the market at the end of June was $161,250. During June, a total of 85 contracts were written down from 107 in June 2012. At the end of the month, there were 187 contracts pending, compared to 170 at the end of June 2012.
The message I'd like to leave you with today is, if you have a home to sell, please don't wait to call a realtor. Now is still a great time to get it on the market!

Monday, April 29, 2013

Strong Homes Sales Showing Signs of Continuing

If you've been waiting for the market to pick up for Lawrence KS Homes for the latest from the LBOR.

"Lawrence Board of REALTORS® Releases Home Sales Figures for March 2013

Residential Sales in the city of Lawrence were on the rise for a 12th consecutive month! 
Home sales rose by 28.8% in March compared to last year’s March figures.  Specifically, there were a total of 76 home sales in March, up from 44 in 2012.   

Among existing homes sold, 70 sales occurred in March, which is a 37.3% increase from 51 existing homes last March.  The average price of existing home sales was $202,191.  This represents a 4.3% increase from the March 2012 average price of $193,926.    

For new construction homes, 6 sales occurred in March, which is a decrease of 25% from 8 new construction sales in March of 2012.  The average price of new construction home sales in March was $374,884.  This represents a 16.1% increase from the March 2012 average price of $322,975. 

Recent housing market activity in the city of Lawrence continues to be on the rise with 123 contracts written in March of 2013, as compared to 98 contracts written in March of 2012, an increase of 25.5% over last year.

Residential housing inventory in the City of Lawrence stood at just 408 homes on the market at the beginning of March, which is down considerably from 578 homes that were on the market at the beginning of March last year." 
According to John Esau, 2013 President of the Lawrence Board of REALTORS®,
"Average days-on-market has dropped significantly, largely aided by recently listed homes that have sold quickly.  Also, our inventory of homes for sale is down more than 25%, so clearly we have worked our way through a lot of homes that had been on the market for some period of time.  We need more new construction homes and resale home listings to satisfy the demand.  It's been a long time since we could say that.  Perhaps the most encouraging data included in this report is that it represents 12 consecutive months in which we have had an increase in home sales versus the previous year."

Tuesday, April 23, 2013

April Flowers Bring Snow Showers?

Okay...this is getting a little crazy. Could someone message mother nature and tell her it's spring? Homes in Lawrence, Ks were dusted with snow and ice pellets today. The crocus and other April flowers look very pretty covered in the white stuff. However, I'll bet they'd prefer to be basking in the sunshine.
The temperature outside our Lawrence, Ks homes has hovered around 35 degrees most of the day. I don't know about you, but I'm looking forward to the warm sunshine and lots more flowers!