What really happened in the Morecambe Housing Market May 2019

Summer is always a great time in Morecambe for property sales, more so than any other time of the year. Despite what is happening in other areas of the country, we truly feel that Morecambe is not just going to excel, it is going to shine.

In April, new instructions were up year on year. This month they are down, however it hasn’t affected the sales.  After the little blip in the Morecambe housing market in April,  May has felt like a much more positive month.   Property sales are not only back where they should be,  they actually back up on the previous year.   

Morecambe is going through a change.  And it is changing for the better.  Our beach has just been awarded a blue flag and even commercial agents are reporting that there new businesses looking to move into many of our towns empty shops.   There is a feel-good factor around the town and that is not just because the sun is starting to shine!

Summer is always a great time in Morecambe for property sales, more so than any other time of the year.  Despite what is happening in other areas of the country,  we truly feel that Morecambe is not just going to excel, it is going to shine.

In April,  new instructions were up year on year.  This month they are down, however it hasn’t affected the sales.   

What actually sold and where?

In LA3 there were 52 property sales and in LA4 there were 42.  This month LA3 was the most popular area of our town.    The most expensive home to sell was a bungalow for sale on St Christopher Way, Bare for £320,000.   Sales of bungalows remained high,  however, semi-detached homes were by far the most demanded property.  

Mays price breakdown

up to £100,000  21 properties

up to £150,000 40 properties

up to £200,000 21 properties

up to £250,000 7 properties

Above £250,000 6 properties

Sales by property type

 Detached  10 properties

Semi detached  29 properties

Terrace homes  20 properties

Flats 14 properties

Bungalows 21 properties

Park homes 0 properties

There are currently 694 properties for sale in Morecambe of which 380 have now been available for sale for over 12 weeks.  319 properties have been reduced in price.   Is overvaluing stopping these properties selling?    

When I look at the length of time some agents have a house for sale, I’m both saddened and shocked.  At JDG our average length of time is just 80 days to get a house sold and completed.    Our 3 biggest competitors have an average that ranges from 192 days to 269 days.  Why?

Properties are selling and if both priced and marketed right they will continue to do so. A recent success for our team is a semi-detached bungalow on Bailey Lane, Heysham.   It had been on the market for over 6 months with another estate agent.   I re-arranged the furniture and de-cluttered the kitchen.  The improved photos really helped - the home sold in just 3 weeks.   The before and after is on our facebook page! 

19 different estate agents accounted for the 94 property sales in May.  At JDG we desperately need more homes to sell, especially homes with gardens now that the Summer is approaching.  We are running out.   Can you help meet our client demand? 

To keep up to date with happenings in the Morecambe Housing Market, check out our website at www.jdg.co.uk or just email me at darren@jdg.co.uk. At JDG we are here to help

Ps. If you would like to know what your home is worth why not try out out a quick online valuation tool. It takes less than 60 seconds. It is not as accurate as having us out, but it will give you a rough guideline. Try it out and let me know what you think. Click below to give it a try!

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