Homes sales continue to slide

Douglas County home sales fell below 2003 levels for the second straight month in February, according to a new report.

Across the county, home sales in February were down 25 percent from a year ago, the Douglas County Appraiser’s Office said, and at their lowest level since February 2000.

Fewer homes sold in Lawrence, too. The report showed sales in the city fell 30 percent, to 56 homes sold from 80 a year ago. Countywide, 74 homes sold, down from 99 in February 2003.

Despite the two-month decline, area real estate agents said they weren’t concerned, partly because 2003 was a record year for home sales.

“If the interest rates hold steady, I think it could be as strong as last year by the time it is all over,” said Jo Barnes, broker of Lawrence’s Reece & Nichols Acres Real Estate.

Poor weather gets most of the blame for this year’s slowdown, but other factors also could be at work, Barnes said.

“We are extremely short on entry-level housing,” she said. “We’re even shorter than we were last year.”

The shortage isn’t expected to ease anytime soon because there is a shortage of building lots for entry-level homes.

“The development situation does have a chance to really hinder us,” Barnes said.

Sales in March, traditionally the beginning of the spring home-buying season, have been strong, Barnes said.

Sale prices also dropped in February, according to the county’s report.

The average price countywide was $167,034, down 6 percent from $177,878 a year ago. In Lawrence, not including North Lawrence, the price fell to $164,966, down from $175,826.

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

  • Lawrence — 55 sales, down from 78; $164,966, down from $175,826.
  • North Lawrence — one sale, down from two; $124,500, up from $86,950.
  • Baldwin — four sales, down from five; $175,500, up from $157,100.
  • Eudora — 10 sales, up from seven; $141,390, up from $111,544.
  • Rural — four sales, down from seven; $261,750, up from $234,786.
  • Countywide — 74 sales, down from 99; $167,034, down from $177,878.