The Morecambe Property Market Update | October 2024

Given the looming budget, the October market performed very well, better than most people expected.   New homes for sale flooded the market at rates not seen since before the pandemic giving buyers so much choice.  Equally, buyers were out property hunting, and sales levels were on par with those in 2021.   

Homes in Morecambe are selling.  However, in order to do so,  it’s important your price is sensible and your presentation is superb.    I suspect there will be more people to starting to property hunt in Morecambe over the next 6-12 months so it’s important your house stands out as a great one to buy!

Here are your figures for October 2024. 

Property Prices

Over the last 12 months, the average price paid for a property in Morecambe stands at £166,483.   It’s risen by approximately £2000 over the past 12 months.     I’ve broken it down by property type below.    Interestingly,  the price paid per sqft remains steady at £191 per sqft.

Buyer demand 

Despite the fact sales are considerably up on both last month and last year,  the number of people looking on Rightmove dropped in November, to it’s lowest point all year.  This indicates that those people looking in the Autumn months are more serious buyers.

Struggling Properties

As we move into November, there are currently 726 homes for sale in the Morecambe market, still offering buyers plenty of choice.  461 of these homes have been for sale for 12 weeks or longer, almost 50% of them with one agent.   This is a concern. 

Homes that sold last month had, on average, been on the market for 70 days.  Home sellers need to factor the length of time it can take to both find a buyer and complete a sale in Morecambe into their moving plans.  

In October, 17 estate agents facilitated the sale of 106 properties in the area.  We agreed sales on Branksome Drive,  Bazil Grove,  and Thornton Road to name a few.   We waved a fond goodbye to Kingsmuir,  Oak Avenue and Westminister Road as their sales went on to complete.  

 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 named 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