Lancaster & Morecambe 01524 843322
Posted on Wednesday, June 2, 2021
Whilst nobody wants to be doom and gloom, It’s interesting to note the drop in sales from April 2021 (151 homes sold in April and also the drop in daily property views which fell from 108 views ).
There is still though a shortage of homes for sale (down almost 200 properties when compared to 2019) which still means people are achieving superb prices for their properties. I’ve put the last 3 years in this month's reports as our industry was only allowed to re-open mid-May 2021 so it would be unfair to compare directly year on year.
Here are your figures for May 2021
Last month we reported how property sales were up by a whopping 82% when we compared to the same month in 2019. This year sales are only up by 25% when compared to 2109, however, this increase is still strong and much more sustainable.
Family homes are still the most popular and this is shown with the level of sales in the semi-detached and detached market.
A trend that we are noticing is a drop in sales is at the higher end of the market. Agents in the South of the UK started reporting this last month. Sales above £250,000 are down from 15 sales last month to just 9 this month. Sales above £200,000 are down 3 this month from 15 sales in April. As the stamp duty deadline looms, this is worth keeping a close eye o
Property prices are increasing. In May, the average price increase was £1,555. This is more than many people's monthly wage.
The average semi-detached home now is £161,598. In just 1 month the price of semi-detached homes has jumped by over £1000. The average detached home is now £253,842 (£2000 higher) and the average terrace home is now £112,667 (a dip of approximately £400). Over the past 12 months, property prices are have increased by an average of 7.2%.
20 agents were involved with the 117 property sales in May.
At JDG we found many of our properties were snapped quickly. Lichfield Avenue, Threshfield Avenue, Combermere Grove and Venture Residential Park all sold in a matter of days. There is a huge demand for 3-bed family homes near the sea. We need more to sell!
In May we registered another 350 people looking to buy locally. This takes us to over 1350 active buyers looking to be in our area. We know who these buyers are and what they are looking for.
Are you thinking of moving? Think JDG. We would love to help. Call us on 01524 843322
Thanks for reading
Michelle
Ps. Have you seen our new interactive brochures? At JDG we really do more for our clients. We are on a mission to ensure sellers and buyers are better informed! Please take a look
PPS. Did you know our marketing attracts better results! Look at this graph from Rightmove. Our homes get over double the attention of other homes on the market. We create a desire which ultimately gets you a better outcome!
