Lancaster & Morecambe 01524 843322
Posted on Thursday, June 2, 2022
Buyers though are still looking. They are looking closer at the finer detail and it’s not unusual now for buyers to ask about the EPC rating and the running costs of a home. Rising energy bills are certainly on people's minds.
We need to be aware of what is happening in the wider UK market but whilst buyer demand remains high and the choice of homes for sale remains low, the Lancaster housing market should have a good Summer ahead!
The average price of a home in Lancaster (LA1) now stands at £165,837. This is a decrease of £416 from last month, although still an increase of 3.3% in the 12 months. Property prices are stabilizing and this is a good thing in order to keep affordability in check.
I like to look closely at buyer demand. The number of people looking at properties online has actually jumped up, not just from last year but also last month. The media is saying that the market is cooling. It is true that the sales numbers have dropped, but so has the number of new properties coming to the market. At JDG we recorded a very healthy number of 239 new buyers that came to the market last month. We know who are they and what they are looking for.
There may have only been 24 price reductions in April but this does not hide the fact that 80 of the 178 homes for sale, as we head into June, have been on the market for 3 months and longer. Thankfully at JDG, only 1 of these properties was with us. It’s now found a buyer having had a few questions that related to a structural report related to it.
Did you know that Rightmove state that the average home is now taking 31 days to find a buyer in Lancaster? At JDG we are still finding that 80% of our new properties go under offer within the first 14 days of marketing. Take Cleaton Close for example - they agreed a sale in just 8 days. Green Lane was 10 days and a flat at Highmount Court was just 4 days!
If your home is struggling to find a buyer and it’s been on the market for longer than 31 days, please ask your agent why?
This month 14 agents were involved with the 87 property sales in May.
At JDG we agreed 29 of these sales which equates to exactly 33.3% of all the property sales in Lancaster (LA1). We can say 1 in 3 homes in Lancaster sold through us!
What was really great about May was that we agreed 100.1% of the asking price for our selling clients. We have a unique way of marketing our homes that achieves great results. Social media, 360 tours shot in 4K and in-depth brochures with more upfront information help. But we also have a great, enthusiastic team and we often get great feedback about our team especially out on viewings!
Are you thinking of moving? Think JDG. We would love to help. Our proven results and client reviews make us the best sellers for you in Lancaster and Morecambe.
Call us on 01524 843322
Thanks for reading
Michelle
Ps. Did you know? We are ranked as the No.1 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 agents in our area.
