Extreme sellers’ market in all price ranges below $500,000
2016 July Absorption Market Report shows extreme sellers’ market in all price ranges below $500,000
As of August 1, 2016:
216 Active properties total (down from 231)
6 Active properties under $100,000 (down from 9)
79 Active properties $100,000-$200,000 (down from 80)
51 Active properties $200,000-$300,000 (down from 56)
58 Active properties $300,000-$500,000 (down from 66)
25 Active properties over $500,000 (down from 27)
The number of active single family homes for sale in Lawrence Kansas continues to decline falling 6.5% from the previous month.
The average SOLD price remained at 98.8% of asking price.
With fewer Lawrence Kansas homes for sale comes higher prices, multiple offers, bidding wars, and offers higher than asking price.
In a little over 3 months, the elections will be over. Historically, following elections, interest rates increase.
These factors show buying a house in Lawrence Kansas in a little over 3 months should end up meaning higher prices so buying now can provide not only savings on your purchase price but also giving you more houses to choose from.
Over the past year, the average days on market has fallen to 82 with a range in the past year of 80 to 132 days on market.
82 DAYS ON MARKET Aug 1
80 DAYS ON MARKET Jul 1
80 DAYS ON MARKET Jun 1
87 DAYS ON MARKET May 1
102 DAYS ON MARKET Apr 1
117 DAYS ON MARKET Mar 1
123 DAYS ON MARKET Feb 1
132 DAYS ON MARKET Jan 1
127 DAYS ON MARKET Dec 1
113 DAYS ON MARKET Nov 1
121 DAYS ON MARKET Oct 1
115 DAYS ON MARKET Sep 1
106 DAYS ON MARKET Aug 1
96 Single Family Lawrence KS homes SOLD in July 2016
$260,194 was the average asking price
$257,066 was the average SOLD price
98.8% of asking price
40 AVERAGE DAYS ON MARKET
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