The housing market in Lawrence, Kansas is booming, making it a better time than ever to sell a home in the area. However, it might be tough for buyers to find a home at a reasonable price.
As of February, the supply of homes is down nearly 20 percent from last year. This has caused the average listing price to raise to $302,000; nearly $40,000 more than last year’s average.
President of the Lawrence Board of Realtors Carl Cline said another wave of home sales is expected in the spring. This will lead to an even greater scarcity of homes for sale in the area.
“If someone is considering selling their home, boy there’s no better time to sell in in Lawrence, Kansas,” Cline said.
Selling a house is easy right now, but once those sellers transition to becoming buyers, it can be difficult to find the right house at the right price. This is especially concerning for new graduates.
“If a young person is coming out of college and they decide they’re going to get married and look for a home to live together and start their family, [the housing market trend] can have an impact on that,” Cline said.
According to Cline, the housing market sees trends like this every eight or so years, and we are currently in year seven of that upward trend.
For more information on the current housing trends in the area, visit LawrenceRealtor.com.