Lancaster & Morecambe 01524 843322
Posted on Saturday, February 1, 2025
Record Number of Listings: Over 500 homes are now for sale—the highest level in a decade.
Strong Price Growth in Terraced Homes: This property type has seen the highest value increase over the past 12 months.
Pricing Adjustments on the Rise: 14% of listed properties reduced their asking prices, highlighting the need for accurate pricing from the outset.
Properties Struggling to Sell: Over 300 homes have remained on the market for more than 12 weeks.
Selling Time: The average time to secure a buyer in Lancaster is currently 73 days.
The Lancaster property market has kicked off the year on a strong note. Sales are up, new property listings are on the rise, and buyer demand remains stable. House prices have held firm, but what stands out the most is the sheer choice available to buyers. According to Rightmove, Lancaster now has more homes for sale than at any point in the past 10 years.
Looking ahead, forecasts remain optimistic. Both Savills and Knight Frank predict modest property price growth in 2025, contingent on expected interest rate cuts.
Lancaster has long been a resilient market. Unlike other regions that experience sharp fluctuations, our city enjoys steady demand, supported by key employment sectors such as the two universities and the hospital. These provide a solid foundation for stability.
For those considering selling this year, competition will be fierce. Your home must stand out. Ask yourself: Why should a buyer choose your property over another?
Here are your figures for January 2025
The average property price in Lancaster is now £179,228, reflecting a 1.7% annual increase. Terraced homes led the way in price growth, while apartments accounted for 19% of all sales, achieving an average sale price of £122,487.
Houses averaged £195,416, and at the top end of the market, four properties sold for over £500,000.
A more detailed measure, price per square foot, now stands at £212. Apartments average £187 per sqft, while detached homes command a premium at £284 per sqft.
Sales levels are up, even though buyer demand is slightly lower than in January 2024. This suggests that buyers are more serious and intent on purchasing. Buyer engagement is stronger than in late 2024 showing a renewed confidence in the market as a new year begins.
The average time to secure a buyer in Lancaster is currently 73 days, but January sales tell a different story. Homes that sold last month took just 33 days on average, highlighting that competitively priced, well-presented properties move quickly.
If your home has been on the market for more than eight weeks without significant interest, it may be time to reassess your pricing and marketing strategy.
As more homes enter the market, buyers now have the largest selection seen in a decade. In Lancaster, 454 properties are currently on the market, with over 300 homes remaining unsold for three months or more.
The number of price reductions has also increased. In January alone, 80 homes lowered their asking prices, marking the highest level of reductions in seven years.
If your home isn’t attracting interest, it’s essential to assess how it compares in terms of price, condition, size, and location—just as buyers will when making their decisions.
In January, 16 estate agents facilitated 72 property sales in Lancaster. At JDG, we are proud to share that over 30% of these sales were handled by us. Notably, we sold more homes than we listed—many receiving offers within just a few weeks, and some in mere days!
We take a tailored, results-driven approach, ensuring your property stands out through:
Professional photography that captures your home at its best.
Compelling property descriptions that attract attention.
Targeted marketing strategies to reach serious buyers.
Expert pricing strategies that position your home competitively.
We are proud to inform you that we have been ranked among the top 2% of all estate agents in the UK for the fifth consecutive year. This is the highest accolade any UK estate agent can receive, based on marketing, service, and results. Our performance is benchmarked against all other agents nationwide. We also officially recognised as an ethical estate agent, one of only 25 in the UK.
On average, we achieve 2% more for our clients than other agents in our area—a key reason to choose us for a successful property sale!
Thanks for reading,
Michelle
Ps. This graph illustrates the house sales in Lancaster in January 2025
