Lancaster & Morecambe 01524 843322
Posted on Sunday, October 1, 2023
Last month we predicted that September would be a busier month and despite the drop in property views on websites like Rightmove, it has been. There has been 83 sales this September in Lancaster, a whopping 28.9% with our company, This of course was helped on by the fact that bank of England decided not to increase the interest rate, ending a cycle of 14 consecutive interest rates.
Autumn is now here so you’ll here a lot from me this month about changing your marketing to reflect the season!
Here are your figures for September 2023
Property prices are always an interesting subject. They go up, they go down, no two months are the same. This month the average property price is showing at £175,904, You could argue it is £3,264 down from last month and you would be correct.
However you could take the positive approach and say it is still 6% higher than it was in September last year.
Ultimately prices have dipped since the start of the year when the average price was recorded at £179,108. This is why sensible pricing is key.
We were hoping we might see an increase in online buyer demand in September, especially now the Summer holidays are over. The reality though is that it has levelled off, however a positive is that those that are looking are more active. In August just 66 home sold in Lancaster. In August it jumped to 83 homes.
We must also remember that buyers now also have more choice, 27% more choice than they did last year, hence they are viewing more homes and taking longer to decide. The market has become competitive for sellers.
As we head into October there are 370 homes available for sale in the Lancaster market, which is 98 more homes than they were 12 months ago. I will repeat, buyers have more choice.
The market has now become one of two halves. One one hand homes which are presented well and sensibly priced are still getting snapped up - new sales we agreed on Kershaw Drive, Esthwaite Gardens, Nightingale Hall Road and Lambert Road all examples of this, all selling quickly.
However what about the 236 homes home in Lancaster that are struggling to sell? This equates to 63.7% of all homes currently on the market. The average house is still taking 57 days to sell (12 months ago is was 35 days), with the average completion taking a further 109 days. This is something sellers need to be aware of.
20 different estate agents we involved with the 83 property sales in August.
I’m going to continue to repeat previous months message to any potential sellers. The market has changed and will continue to change as we head into the Autumn. Be realistic with your expectations. Compare your home to others that are both up for sale and recently sold. Make sure your home stands out for all the right reasons.
Are you thinking of moving? Think JDG. We would love to help. Our proven results and client reviews make us the best sellers for you in Lancaster and Morecambe.
Call us on 01524 843322 or email me direct at michelle@jdg.co.uk
Thanks for reading
Michelle
Ps. If you are thinking of selling, this is quite important. For the 2nd year in a row, we have been ranked as the No.1 Estate Agent in the UK Best Estate Agent Guide. We have also made the finals for this year! You do not pay to enter, every single estate agent in the UK is automatically entered. There are 15,000 different companies entered.
This is the highest award any estate agent in the UK can win. It is judged on 3 key elements - marketing, service and results. The results are the important part for you. On average we achieve 2% more for our clients than other agents in our area.
PPS. The graph below shows the sales results for all agents in Lancaster for September. As you can see, homes are selling with JDG!
