Lancaster & Morecambe 01524 843322
Posted on Sunday, June 2, 2024
There is also starting to be a renewed interest from investors who are looking closely at the proposed Eden Project. The Eden Project has the potential to transform the town and in the long term, the economic uplift it will bring will likely increase the demand for housing as new jobs tend to attract more residents and investors to the area.
I will point out that home sellers still need to be sensible about their asking prices. There have been 133 homes that have had to reduce their asking prices in May. That’s now a total of 433 reductions in the year so far. Eden isn’t raising property prices just yet!
Here are your figures for May 2024.
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 £167,807, a dip of just £60 from last month!
Buyer demand on the property portals is on par with this time last year, and has remained steady throughout the first 5 months of 2024.
As we enter June there are currently 705 homes available for sale in the Morecambe market. Out of these, 426 (60%) have been listed for sale for 12 weeks or longer. This is a concern. Across the UK, the average time it takes to find a buyer is 62 days, yet in Morecambe, the average is 99 days. This is why I will continue to say that sensible pricing is key.
In May, 22 different estate agents were involved with 103 property sales. Our team achieved great results with homes at Oxclifffe Road, Kingfisher Drive and Bazil Lane being just some of the homes that agreed sales.
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 sensible 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
Ps 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!
