House Market Update - January 2025
As we approach the end of the first month of 2025, lets take a look at what is happening in the local Maldon housing market.
The housing market is always a hot topic, and as local experts we like to take a detailed look at the local market activity in the Maldon area. Here we can spot trends as well as outlining what it means for buyers and sellers looking to move.
Stamp duty deadline
At the time of writing (29 January) we are only 61 days away from the stamp duty changes. With the average sale currently taking 16 weeks (112 days) any buyers or sellers should be aware of this change and what impact it could have on them, if the deadline is not met.
Firstly, let's take a look at new houses coming onto the market.
All figures are CM9 area comparison.
January 2024 vs January 2025. Data from rightmove plus (29/1/2025)
New Listings
January 1 - 28 2024 - Total New House Listings - 84
January 1 - 28 2025 - Total New House Listings - 107
New listings are up 27% on the same time last year.
What does this tell us?
In 2024 we saw a sharp increase of new houses coming for sale, and this trend has continued in the first month of 2025.
Buyers have a good choice so it could be a great time to buy, whilst sellers need to stay competitive with increased competition for them.
Looking to buy?
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Next, let's look at the number of property sales which have been agreed.
January 1 - 28 2024 - Total New Sales Agreed - 36
January 1 - 28 2025 - Total New Sales Agreed - 61
Sales are up 69 % compared to the same time last year.
What does this tell us?
During December and now into January there have been an impressive number of sales agreed, with the market performing better than the same time last year. It will be interesting to see if the upcoming stamp duty change will have an affect on how many new sales get agreed in the upcoming months.
Are you looking to move in 2025?
New year, new home. If you are looking to move in 2025 and would need to sell your property in the Maldon area, we can help!
We offer a choice of three valuations - click here and pick the one best for you.
Finally, let's look at price reductions.
January 1 - 28 2024 - Price Reductions - 38
January 1-28 2025 - Price Reductions - 52
Price reductions are up 37% on the same time last year.
What does this tell us?
With levels of stock increasing, it is no surprise to see reductions up on the same time last year. If you are currently trying to sell the correct price is key to ensuring you find a buyer, especially with the increased choice for buyers.
Considering a sale of your Maldon home - we can help!
Follow the link to see the three types of property valuations we offer and decide the best one for you! Click here for more details.
Mortgage Advice
An important step for anyone moving with a mortgage, we work with trusted local professionals who provide the very best advice for our clients. With the market ever-changing it is a good idea to get up to date advice - click here to arrange a call with our trusted broker.