County home sales fall in August as prices rise

A drop in Douglas County home sales in August put the area’s real estate market slightly behind its record pace of 2003, according to a new county report.

The Douglas County Appraiser’s Office recorded 194 sales in August, down from 287 in July and down 15 percent from 229 sales in August 2003.

In Lawrence, 165 homes were sold, down from 242 in July and 192 in August 2003.

Mark Buhler, sales manager at Stephens Real Estate, said he thought the fact that classes began about a week earlier than usual in the Lawrence school district might have hampered home-buying activity.

“We usually hit a slowdown in August because people want to take a quick vacation before school starts, and then when they get back they spend their time getting ready for the school year,” Buhler said. “That usually happens in late August, but it seemed like it happened a little earlier this year. We kind of felt like summer ended early.”

Buhler said the city also was suffering from a shortage of buildable lots, which may have led to lower sales.

But for the year, the real estate market has been strong. Total sales are at 1,558, down just 2 percent from the record level of 1,591 sales at this point in 2003.

Douglas County’s drop in home sales followed a national trend. The National Association of Realtors reported Friday that sales of existing homes dropped 2.9 percent from July to August.

Housing prices, though, were up in August. The average selling price of a home in Douglas County was $185,394 in August, up 10 percent from $167,511 a year ago.

Here’s a geographical look at the number of sales and average selling prices and how they compare with August 2003 totals.

  • Lawrence — 160 sales, down from 183; $190,355, up from $167,673.
  • North Lawrence — Five sales, down from nine; $103,300, up from $100,294.
  • Baldwin — Three sales, down from seven; $117,000, down from $147,064.
  • Eudora — 16 sales, up from 14; $146,417, up from $132,686.
  • Lecompton — zero sales, down from one.
  • Rural Douglas County — 10 sales, down from 15; $229,941, down from $250,373.