Lancaster & Morecambe 01524 843322
Posted on Monday, May 1, 2023
People however still do however want to move. There will always be a property market. What we need to do is make sure your home is priced sensibly, marketed superbly and has the best advertising out there to attract those buyers. That’s what we are here to do. Anyway enough about us, here are your figures for April 2023 so you can see what is really happening.
The average price of a home in Morecambe now stands at £163,331 Last month prices increased by £214. This month they have dropped by £89. Prices in Morecambe are still steady. Steady is good.
Last month 123 properties reduced their asking prices in Morecambe, this month another 113 properties have had to reduce. Again more homes have reduced their asking prices than have actually sold. I will keep on repeating my message again for anyone thinking of selling, sensible pricing is a key.
Buyer demand in Morecambe is up and down. Normally at this time of year, we expect to see it rise, especially with Morecambe being a coastal resort. When buyer demand is down, this is reflected in the level of sales that are agreed upon.
The cost of living crisis is starting to affect people’s disposable income, hence a slowdown in the level of sales.
As we head into March there are 530 homes available for sale in the Morecambe market. It is a concern though that 50% of these (265) have been for sale for 12 weeks or longer. That is 3 months. Across the UK, the average time it is taking to find a buyer is now 55 days, this is actually 2 days quicker than it was last month but over 3 weeks longer than it was last year!
16 different estate agents we involved with the 74 property sales in April. At JDG we achieved some good results for our clients and it was pleasing to see that homes on Fairfield Park, Middleton Road and Lowlands Road all find buyers. There were others too. We also waved a fond farewell to several clients including St Annes Avenue, Russell Drive and Cumberland View Close as those sales were completed!
Whilst sales are slower in Morecambe, please don’t be disheartened. If you price your home sensible, have great marketing and work with an experienced agent, your home will sell. We would love to help you and share with you our proven methods.
If we can help you move ( we have a proven 87% success rate in getting our client's homes sold compared to an area average of 50% ) please call us on 01524 843322 or email me at michelle@jdg.co.uk
Thanks for reading
Michelle
