Home sales reach monthly record

Real estate agents cite interest rates, consumer confidence for increase

Douglas County real estate agents had a record sales month in June, and are on pace to exceed the record sales year of 2003.

According to figures from the Douglas County Appraiser’s office, 317 homes were sold last month in the county, up 27 percent from the previous record of 249 homes set in June 2003. It also was the best month of 2004, beating the previous high of 279 sales in May. The 317 sales was one shy of tying the monthly record of 318 sales in May 2003.

There were 262 homes sold in Lawrence during June, up 27 percent from the 207 sold during the same month a year ago.

Real estate agents said the housing market remained hot because:

  • Consumers are more confident about the economy.
  • Interest rates remain low.

“For some reason, whether it is the pressure of the election year or what, something is keeping the lid on interest rates,” said Jo Barnes, owner and broker of Lawrence’s Reece & Nichols Acres Realtors. “It is amazing. It is the best that I have seen in almost 29 years in this business.”

June wasn’t just a record-setting month for the county. The National Association of Realtors reported Monday that national sales of existing homes in June increased by 2.1 percent to set a record.

The strong month in Douglas County pushed the number of sales for the year beyond the number sold during the first six months of 2003. According to county records, 1,077 homes were sold through June, up 4 percent from 1,032 during the same period a year ago.

The average selling price for homes in the county also increased in June. Countywide, the average price increased to $177,950, up 3 percent from $172,827 a year ago.

Here’s a geographical look at the number of sales and average selling prices and how they compared to June 2003 totals:

  • Lawrence — 254 sales, up from 202; $182,476, up from $171,173.
  • North Lawrence — seven sales, up from five; $109,714, down from $114,160.
  • Baldwin — 17 sales, up from seven; $134,149, down from $151,779.
  • Eudora — 28 sales, up from 22; $148,187, up from $146,714.
  • Rural — 11 sales, down from 13; $258,755, down from $276,292.