The Morecambe Housing Market | January 2024

Others fear it may never come and have given up on any hope.   Yet behind the scenes are team of people are working hard to make this project a reality and rumours are circulating that they plan to break ground on this £100 million project later this year.   

Back in the housing market, Morecambe’s market has now returned to how it was before the pandemic.   Life has returned to normal for many and people aren’t moving to the coast and countryside the way they were 3 years ago!

The choice of homes available for sale is the highest it’s been in the past 5 years.   Each month more homes are coming to the market than are selling, giving buyers more choice than ever before.   This is why I will repeat my message that sensible pricing is key combined with great marketing is key in today’s market.

Here are your figures for January 2024. 

Property Prices

Even though the Morecambe housing market has been slow to pick up,  property prices of homes which have sold have crept upwards.    The average price paid for a home in Morecambe currently stands at £165,620.  At the beginning of 2023, it was £161,648.   It’s almost £4000 higher!  At the beginning of 2022, it was £156,221.    It shows just how property prices have increased, even in a more difficult marketplace!

Buyer demand

Whilst property sales are reported at being 3% higher year on in the Northwest, sales in Morecambe are down by 14%.  We expected this as traffic on the property portals is down which means buyer demand in Morecambe is down which is not uncommon this time of year being a seaside town.   

However,  this should all change when the Eden Project puts a spade in the ground.   2024 is being muted as a key year for regeneration around The Bay!

Struggling Properties

As we enter November, there are currently 658 homes available for sale in the Morecambe market. Out of these, 472  (71.7%)  have been listed for sale for 12 weeks or longer, and 277 have been listed for 6 months or longer. 

These figures concern me.   The average time it takes to find a buyer across the UK is 71 days.  Are the homes that are not selling overpriced? Or are they simply badly marketed?   If you're having trouble selling your home, I would be happy to discuss it with you.

In January, 13 different estate agents were involved with 62 property sales. Our team achieved great results with homes at Yealand Avenue, Woborrow Road and Silverdale Avenue all being sold.   We also said goodbye to several clients, including Lowther Avenue,  Hillmount Avenue, Charles Street and Redshank Drive.    Their house sales completed and we passed the keys across to the new happy buyers!

At JDG we know how to get you sold.   Your home needs to stand out and this includes superb photos,  great wording, expert marketing and a pricing strategy.    Don’t forget we were crowned the UK’s best estate agent in 2022 and 2023!   We get results. 

If you're looking to move, please don't hesitate to call us on 01524 843322 or email us at michelle@jdg.co.uk.

Thanks for reading

Michelle  x

Important notice for potential sellers 

We're proud to inform you that we've been ranked among the top 2% of all estate agents in the UK for the fourth consecutive year. Additionally, we've been declared the UK's Number 1 estate agent for both 2022 and 2023. 

This is the highest accolade any UK estate agent can receive, and it's based on marketing, service, and results and is judged against all other agents across the country.   

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!