The Morecambe Property Market Report - November 2019

There is less stock and a lower number of new instructions compared to November 2018, but with Brexit and an election upon us this could be the reason. People may be hesitating to put their property on the market however the buyers out there are committed and want to buy.

Here are your figures for November:

In October we saw that new instructions were up year on year, however in November new instructions were down by almost 22% compared to November 2018. Available stock in November was also down by just over 14% compared to November last year, but as mentioned above, the political situation is likely having a knock-on effect.

What actually sold and where?

In November across LA3 and LA4 91 properties sold. This is broken down into 49 sales agreed in LA3 and 42 sales agreed across in LA4.

The most expensive property to sell was on Main Street in Overton, a Grade II Listed Farmhouse on the market at £399,950, listed for sale in May. At the other end of the market, Cedar Street in Morecambe went up for sale in October at £22,500 and had an offer agreed in November (just to note in regard to the price, this was a shared ownership home).

And for the 3rd time in a row, I can report Morecambe outsold Lancaster once again, with 80 sales agreed in November in the LA1 postcodes compared to 91 sales agreed across LA3 and LA4 postcodes.

November’s breakdown

Sales by asking price:

Up to £100,000  22
£100,001 - £150,000  34
£150,001 - £200,000  23
£200,001 - £250,000  8
£250,000 +  4

Sales by property type:

Detached   9
Semi?Detached 20
Terrace   31
Bungalows  20
Flats    10
Park Homes  1

The average price paid in LA3 stood at £149,353 and in LA4 it stood £138,530.  These figures are taken from the sales registered at the Land Registry over the past 3 months.  Terraced houses were the most popular property type to sell in November.

We saw some homes sell very quickly, we had a one-bed flat on Norton Road on the market for just 4 days and Ennerdale Avenue was snapped up in only 4 viewings and just 12 days on the market!

We may be approaching Christmas but if you are wanting to sell don’t think you have to delay until the New Year.  You could miss out on the flurry of activity on Rightmove.  Last year traffic increased on Rightmove 231% between Christmas Day and the 2nd of January.  Ask about our Do Not Disturb service for over the Christmas period whilst we market your property for you but leave you in peace!

If you are thinking of selling please get in touch. At JDG we are here to help you get moved. Call us on 01524 843322 or email me at jody@jdg.co.uk

Thinking of moving? Why not try out our handy online valuation tool?  It is not as accurate as having us around but in under 60 seconds, you could have a good indication as to what your home may be worth. ?Why not give it a go!

https://valuation.jdg.co.uk/home/800-jd-gallagher

*All figures have been taken from Rightmove Intel