Encouraged by the slow but steady emergence of warmer weather, homebuyers and sellers are coming out of hibernation, and the local property market is getting increasingly busy. It is something that estate agents fondly refer to as The Spring Rush!
Homebuyers who wish to be settled in their new homes in time for Summer know that they are now in a race against the clock to find a property and give themselves enough time for the purchase to be completed.
With this in mind, let’s have a brief look at what’s been happening over the last month in the local property market around Walton-Le-Dale.
There are currently 1270 properties available on the market in our area. This is a 7% increase in the number of available properties compared to last month, when 1187 properties were available. In January, there were 1155. In December there were 1059, and in November there were 1165.
More properties, 349, came onto the market in March than in any of the previous six months. In February, there were 280; in September, there were 333; in October, there were 286; in November, there were 239; in December, there were 157; and in January, there were 247.
The number of sales in March soared to 244. This was a 14.5% increase compared to February, when 213 sales were agreed, and was 27% more than in January, when 192 sales were agreed. It was the highest number of sales agreed in the last six months. In December, there were 130; in November, 180; and in October, 207. There is a high level of activity in the local property market, and we expect that to continue as we head towards the summer.
In October, we saw 169 price reductions across the Walton-Le-Dale property market. In November, there were 167, 99 in December, 134 in January, and 131 in February. There was a slight increase in the number of price reductions to 164 in March. This is likely a result of sellers wanting to capitalise on the Spring Rush by making sure that their property catches the eye of motivated homebuyers.
In March there were 612 slow movers in the Walton-le-Dale area. This means a property that has been on the market for 12 weeks or more. In February, there were 602; in January, there were 639; in December, there were 565; in November, there were 497; and in October, there were 466.
Slow movers can often be due to the 3 Ps: presentation, promotion, or price. We are proud to be in the top 10 agents in the area with the smallest number of slow movers. Choosing the right agent for your property can make a very real difference in achieving your moving plans.
In October, each property in the Walton-le-Dale area had an average of 70 daily views on Rightmove. In November, there were 59, and in December, there were 54. The average daily views on Rightmove per property increased to 75 in January and then to 79.8 in February. In March they fell to 66.3. This is not an indication that the local property market is less busy. What it means is that there are now more serious buyers as opposed to winter window shoppers. If you are considering putting your property on the market, now is the ideal time to do it in order to take advantage of the Spring Rush.
If you’re looking for further information about the Walton-Le-Dale property market, or if you’re thinking of selling or buying in the area, please don’t hesitate to get in touch. You can call 01772 252136 or email info@stonehousehomes.co.uk.
