Lancaster & Morecambe 01524 843322
Posted on Wednesday, March 2, 2022
February saw the last of the covid restrictions lifted but also it saw war break out in Ukraine. Interest rates have risen and the cost of living is predicted to rise. There is a big concern surrounding rising energy costs. Nobody can really predict what the future holds.
What we do know though is that Morecambe Property prices are still very affordable. We have lots of plans for regeneration and without a doubt, we have some of the best sunsets and views in the UK. In many ways, our stage is set ready. We also have hope. And hope counts for a lot….
Here are your figures for February 2022
The average price of a home in Morecambe now stands at £157,007 This is an increase of £786. In the last 12 months, the average property price has increased by 9%. We are starting to see a slowdown in the growth figures which is an early sign that prices are starting to stabilize.
Looking at the daily views, it’s clear to see that buyer demand shot up to its highest level since May last year. More people put their homes on the market, but as you can clearly see, demand is still outstripping supply. Agreed sales rose too, interestingly in neighbouring Lancaster, it fell backwards.
As we head into March there are just 292 homes for sale in Morecambe. This figure has never been so low. However, did you know that 162 of these homes have been for sale for 12 weeks and longer? 46% of them are with one estate agent. The number of properties struggling to sell still equates to over half of all the properties currently listed for sale. Is your home one of them? Overvaluing and optimistic prices continue to be an issue, please ask your estate agent if they can justify the price they recommend for your home.
At JDG, we have a shortage of semi-detached homes and an ever-growing demand for bungalows. We also desperately need 2-bed starter homes for first-time buyers. A recent sale on Clark Street had 17 viewings requests and received lots of offers, whilst over in Heysham we had lots of interest in Granville Road. It sold in days!
At JDG Estate Agents we are to help. As you can tell we have a desperate shortage of properties for sale in Morecambe. Over 95% of our Morecambe homes are now sold SSTC. Our role is to get you the best possible price. Our marketing is proven to work.
If we can help you move, please call us on 01524 843322 or email me at michelle@jdg.co.uk
Thanks for reading
Michelle
Ps. Did you know? We have just been ranked as the Best Estate Agent in the UK by Rightmove and The Property Academy. This is the highest award for any estate agent in the UK. It is judged on 3 key elements - marketing, service, and results. The results are the important part for you. On average we achieve 2% more for our clients than other agents in our area.
