Lancaster & Morecambe 01524 843322
Posted on Saturday, February 1, 2025
Sales Surge: January property sales in Morecambe are up 22% year-on-year.
Buyer Choice Remains High: Over 800 homes are currently available for sale.
Increased Listings: 112 homeowners listed their properties for sale—a 10% increase from last year.
High Number of Price Reductions: 13% of all listings saw a price cut in January.
Slower Market for Some: 509 properties have been on the market for over 12 weeks, representing 74% of all available homes.
Consistent Buyer Demand: The number of active buyers remains steady.
Welcome to the first Morecambe Property Report of 2025.
January delivered a mix of encouraging and challenging news. On the positive side, property sales have risen by 22% year-on-year. In real terms, that’s 76 properties sold, compared to 62 in January 2024. This is a welcome boost for homeowners looking to sell.
However, we can’t ignore the challenges. 509 properties have been on the market for over 12 weeks, struggling to attract buyers. Meanwhile, 105 homes reduced their asking prices in January alone. To put this in perspective, in 2024, 907 properties saw price reductions, compared to just 862 completed sales. More homes reduced their prices than actually sold—highlighting a key issue in the market.
Morecambe though is poised for an exciting year with so much promise on the horizon. With potential interest rate cuts on the horizon, economists anticipate a modest rise in property prices. If the Eden Project build does start, there will be a lot of outside interest in Morecambe. However, overvaluation remains a persistent issue. Overpricing a home can lead to long listing times and inevitable price reductions, making it critical to get the pricing strategy right from the start.
A key point to remember: Your home isn’t just being viewed in isolation—it’s competing with others on the market and recent sales. Buyers compare properties carefully. How does yours stack up?
Here are your figures for January 2025.
The average property price in Morecambe now stands at £171,707—a 4.9% increase over the past year. Apartments have seen the largest price increase. The average price per square foot is now £196, rising to £266 for detached properties.
Buyer demand is at its highest since Summer 2024, surpassing levels seen 12 months ago. It's also up on this time in 2024.
Buyers though have a choice. As we head into February there are 730 properties available for sale, with 503 homes on the market for over 12 weeks—a growing concern for sellers.
In January, homes that sold took an average of 83 days to secure a buyer, compared to 84 days in November 2024. With the average conveyancing process taking 114 days, sellers should now realistically prepare for a six-month timeline from listing to completion.
76 property sales were completed in January, involving 14 different estate agents. At JDG, we had an excellent start to the year, successfully selling homes on Stanley Road, Roseberry Avenue, Edgcott Close, Sulby Grove, and Battismore Road, among others.
Selling your home is about standing out in a competitive market. At JDG, we specialize in:
Stunning photography to showcase your property at its best.
Engaging property descriptions that attract buyers.
Expert marketing strategies tailored to your home.
Smart pricing strategies to ensure a successful sale.
If you're planning to move, let’s talk. Call us at 01524 843322. As Morecambe’s only officially recognised ethical estate agent, we’re here to help you achieve the best possible result.
Thanks for reading,
Michelle
