The Christmas holidays and the dawning of the new year often bring changes to many. The realisation that their home is no longer right for them, wanting to move for a better lifestyle, family breakdowns or new additions.
It can be a great time of year to sell your property because those house-hunting in January tend to be serious about their move. The Spring Rush can bring many more “would be nice to move” situations whereas people now are more likely in the “have to move” camp.
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 1059 properties available on the market in the area. The month prior there were 1165, in October there were 1152, in September 880 and 1052 in August.
The number of properties that came onto the market in December, 157, was noticeably lower than during previous months. This was to be expected as December is usually the least popular month for sellers to put their properties on the market due to festive commitments. Prior to December there were a steady number of properties coming onto the market each month. In August there were 288, September 333, October 286 and in November 239.
In December 130 sales were agreed, in November there were 180 and in October there were 207. The month before 241 sales were agreed and in August 268 sales were agreed. The noticeable drop in December is normal and is not indicative of a long-term dip in the local property market. It is reflective of the effect of this time of year on buyers’ priorities. The local facts are that there is still a high level of activity in the local property market and we expect the first quarter of 2023 to be as busy as normal.
In July, we saw 138 price reductions across the Walton-Le-Dale property market. There were 131 price reductions in both August and September, 169 in October and 167 in November. In December the number of price reductions fell to 99 which was likely to be caused by sellers waiting for the market to pick up again after the normal lull in December rather than choosing to reduce the price of their property.
In December there were 565 slow movers in the Walton-le-Dale area. This means a property that has been on the market for 12 weeks or more. This could be due to the market returning to more normal levels but expectations still being at the peak levels. It will have been further exacerbated by the natural lull in activity during December. In November there were 497, in October there were 466, In September there were 438 and the month before that there were 429 slow movers.
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 numbers of slow movers. Choosing the right agent for your property can make a very real difference to achieving your moving plans.
In August each property in the Walton-le-Dale area had average daily views on Rightmove per property of 88. In September this number fell slightly to 82 and in October it dropped to 70. In November it fell to 59 and in December it fell further to 54. This is typical for this time of year with commitments over the festive period taking precedence over house hunting for many buyers. The levels of activity in the local Walton-Le-Dale property market are expected to return to their normal levels in the first quarter of this year.
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.
