The Morecambe Property Market Update | June 2024

Additionally, the stability in buyer demand and consistent property sales activity indicate that potential buyers and sellers are proceeding with their plans regardless of the broader political climate.   People still need to move.  

This resilience showcases the strength and appeal of the Morecambe market, driven by local developments and community confidence.

While the number of homes listed for sale was down compared to last year, it was higher than in May, and sales were notably up by a substantial 32% year-on-year. 

Sensible pricing remains crucial if you want to secure a sale this summer. As I’ve mentioned before, seaside towns like Morecambe often take on a more seasonal feel, and now with the sun out, the town feels alive.

Here are your figures for June 2024. 

Property Prices

Property prices have remained steady in Morecambe, with very little change since late 2023.

Whilst prices are on average 4.4% up year on year,  the sheer number of price reductions is a concern.  There have been 137 this month alone and 439 in the year.   

The average price of a property in Morecambe currently stands at £167,947, a marginal increase if £140 from last month.  

For those of you who are interested in the higher end of the market,  there were no sales above £500,000 and only 2 sales above £400,000.   There have been just 2 sales above £500,00 this year. 

Buyer demand

Buyer demand on property portals is marginally higher than the same period last year and has remained relatively consistent throughout the first half of 2024.

Struggling Properties

As we enter July, there are currently 691 homes available for sale in the Morecambe market. Notably, 417 of these properties (60%) have been listed for 12 weeks or longer, which is concerning. While the UK average time to find a buyer is 62 days, in Morecambe, it takes 100 days on average with a further 110 days to complete a sale.  This highlights the importance of sensible pricing.

In June, 18 different estate agents facilitated 112 property sales. Our team at JDG achieved outstanding results, securing sales for homes on Roseberry Avenue, Kingfisher Drive, and Walker Grove, among others.

At JDG, we know how to get your home sold. Your property needs to stand out with superb photos, compelling descriptions, expert marketing, and a strategic pricing plan. Remember, we were crowned the UK’s best estate agent in 2022 and 2023—we deliver results.

If you're looking to move, please call us at 01524 843322 or email us at michelle@jdg.co.uk.

Thanks for reading.

Michelle

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!