The property market in CM23 has seen some interesting shifts over the past month, with 130 new instructions hitting the market. Notably, 19 of these properties have already gone under offer, which highlights just how crucial it is to price a property correctly from the outset.
One notable trend has been price reductions—71 properties have lowered their asking price, with an average reduction of 4%. Of these, 10% have now sold after adjusting their price, proving that a timely price adjustment can significantly improve a property’s chances of selling in a competitive market.
The average asking price for newly listed properties this month is £505,779, while the average sale agreed price is £475,953. This data suggests that the lower to middle end of the market is currently the most active and appealing to buyers, indicating demand for more affordably priced homes.
Comparing these figures to September 2023, we saw 93 new instructions and 36 sales agreed during that month. The average sales agreed price was higher at £504,819, and new instructions averaged £613,170, reflecting a broader range of higher-priced listings earlier in the year.
Overall, the market in CM23 is still moving, especially for properties in the lower and mid-price ranges. Pricing your home competitively from the start is essential to attract serious buyers and secure a sale quickly.
If you're considering selling your property, now is a great time to take action before the market slows down later in the year. Feel free to contact us for an up-to-date valuation or to discuss how we can help you achieve the best result for your home
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