The Morecambe Property Market Update - September 2021

Many people are now asking, what is next in the Morecambe Housing market? Will prices start to cool with the weather? After all, Morecambe is a seaside town.

Morecambe’s housing market problem is a very similar story to that of Lancaster’s. There is a lack choice of available. New instructions have dropped not just year on year but also month on month. People want to buy, but fewer people are looking to sell. There has been a drop of almost 20% in people looking to sell in just 1 month alone.

With the decline in choice, comes a decline in sales. Agents can’t sell what they don’t have, however on a positive people looking to buy property remains high - almost double last year, and prices have still risen slightly.

Here are your figures for September 2021

Buyer demand

I always like to look closely at buyer demand. Whilst it is almost double what it was last year, it has started to drop off in September. Last month it was measured at 120.1 average daily views. In September it was just 84.4. This could be due to various factors - the lack of choice won’t help but also now the world is opening up, people will spend less time looking online as they start to enjoy life as they used to.

The average semi-detached home stands at £162,065 and the average terrace home is now £119,190.

Property Prices

The average price in Morecambe for a property is now £150,571. This is an increase of £649 in the last month alone and 10.1% over the past 12 months and 23.1% over the past 5 years. The gap between average prices in Lancaster and Morecambe is now is £12,990. A key point to note is that it is exactly 5 years since the bay gateway opened! The bypass certainly is one of the contributing factors that have helped house prices increase in the region.

18 estate agents were involved with the 99 property sales in Morecambe

We head into October with just 292 properties for sale on the Morecambe market. This is the 2nd month the available choice in Morecambe has been under 300 homes. It is a concern that 169 of these homes have been available for sale for 12 weeks and longer. If you are one of these, we would love to chat with you. There is a reason your home isn’t selling and we would love to help you find what can be done!

If you are thinking of moving, please think JDG. We would love to help. We have a 100% success rate in Morecambe - everything we are listing we are selling! Not many agents can boast that.

Please call us on 01524 843322 or email me at michelle@jdg.co.uk

Thanks for reading

Michelle

Ps.  Have you heard our news?   We have just discovered that The Property Academy in conjunction with Rightmove has ranked our agency in the top 1% of all estate agents in the UK.   This is based on service, marketing and results.   Here are just a few of our property facts!

• Did you know that in September our homes were viewed on YouTube by over 3900 people who watched for 130.2 hours?
• Or that on Rightmove our client's homes were viewed 314,874 times
• Or that over on Facebook they were seen 30,900 times with an engagement rate of 16,600. Plus 46.6 hours of property video watching took place.
• We also sent out 6381 marketing emails to registered pre-qualified buyers on our database!

If you’d like to know more about how we do this, please ask us. At JDG we like to be transparent and we love to help!