The Morecambe Housing Market Update | April 2024

Sales year to date are marginally up year on year.  So are new instructions.  Prices have remained stable since December last year.    The supply of homes for sale though continues to grow (it is at a 5-year high) and with the recent, unexpected hike in mortgage rates,  we must remember that house prices are ultimately dictated by supply and demand. 

Here are your figures for April 2024. 

Property Prices

Property prices have remained steady in Morecambe, with very little change since December 2023.  Buyers might have more choice,  but with the renewed hope of Eden soon becoming reality, prices have held out and are on average 4.3% higher than they were 12 months ago.

The average price of a property in Morecambe currently stands at £167,867.  

Buyer demand

Buyer demand on the property portals is lower than it was this time last year,  which are early signs of the market turning towards a buyer market, however, it has stopped steady throughout the first 4 months of the year.   

Now that the Eden Project Morecambe has given it’s strongest indication of hoping to start by the end of we expect to see this figure increase as investors renew their interest in the area. 

Struggling Properties

As we enter May there are currently 685 homes available for sale in the Morecambe market.  Out of these, 383  (56%) have been listed for sale for 12 weeks or longer.   It is an improvement from last month, but mainly because several of these home sellers look to have switched agents, revitalising the marketing and also pricing strategies.  For complete transparency, we have 4 of these properties for sale with JDG. 

In April, 18 different estate agents were involved with 105 property sales. Our team achieved great results with homes at Christie Avenue, Kingfisher Drive and Oak Avenue all being sold.   We also said goodbye to several clients, including Sulby Grove, Kensington Road and Silverdale Avenue.   These sales were completed and the team got to pass the keys across to the 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