Lancaster & Morecambe 01524 843322
Posted on Sunday, April 2, 2023
The are a variety of reasons that could explain this. The obvious ones surround the positive news that the Eden Project North has had its levelling up funding confirmed and that he Winter Gardens also received £2.74 million in funding from the arts council. Next is the knowledge that Spring has always traditionally been a better for time for sales in coastal resorts. The third reason could also be that 123 Morecambe homeowners also reduced their asking prices, thus making their homes look more attractive to buyers!
Either way, this is very positive news for Morecambe homeowners and now that the days are longer and the better weather is here, long may it continue!
Here are your figures for March 2023
The average price of a home in Morecambe now stands at £163,420 Last month prices dropped by £255. This month they have increased by £214. Prices in Morecambe are steady and this can only be good news.
What is a concern though in Morecambe is the number of home that have had to adjust their asking price. This month there has been 123 properties reducing their asking prices. More homes have reduced their prices than have actually sold.
My message again for anyone thinking of selling is clear, sensible pricing is a key.
For those interested in the premium market, the highest price property to sell (SSTC) so far this year is a 27 bed terrace home, currently run as a guest home. This is a home is on Morecambe promenade, Only 12 homes above £400,000 have sold in Morecambe so far this year. 81% of all property sales in Morecambe have been under £250,000.
Now that Spring is here, buyer demand has jumped slightly from last month - we monitor this by the amount of traffic on Rightmove. It is still down considerably on last year, however with all the positive news stories about Morecambe in the media, we do expect this to continue to bounce back. Don’t forget Spring is also traditionally a busier period in the Morecambe Housing Market!
Struggling Properties
As we head into March there are 544 homes available for sale in the Morecambe market. It is a concern though that 49% of these (265) have been for sale 16 weeks and longer. That is 4 months. Across the UK, the average time it is taking to find a buyer is now 57 days, this is actually 5 days quicker than it was last month but 3 weeks longer than it was last year!
26 different estate agents we involved with the 107 property sales in February. At JDG we achieved some good results for our clients and it was pleasing to see that homes on Akeman Close, Grange Street, Lichfield Avenue and Thornton Road all find buyers. There were others too. We also waved a fond farewell to several clients including Gardens Grove, Mears Beck Close, Westover Street and Poulton Road as those sales completed!
It’s great to see that the Morecambe Market has bounced back after a slow winter, however it is still important that Morecambe sellers still price their homes sensibly. Spring is here, Morecambe is back in the media and the future feels positive!
If we can help you move (we have a proven 87% success rate in getting our clients homes sold) please call us on 01524 843322 or email me at michelle@jdg.co.uk
Thanks for reading
Michelle
Ps. If you are thinking of selling, this is quite important. For the 2nd year in a row, we have been ranked as the No.1 Estate Agent in the UK The Property Academy. You do not pay to enter, every single estate agent in the UK is automatically entered. There are 15,000 different companies entered.
This is the highest award any estate agent in the UK can win. 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 other agents in our area.
