Maldon Housing Market Update September 2023
As we enter Autumn lets take a look at what has been happening in the local housing market during the month of September.
As we head towards the end of September let's take a look at what has happened in the local housing market this month.
Market Activity -September 2023
CM9 area comparison. September 2022 vs September 2023
(Data taken from Rightmove)
New listings
September 1-26 2022 - Total New House Listings - 73
September 1-26 2023 - Total New House Listings - 90
New listings are up 24% on the same time last year
What does this tell us?
The trend in September is similar to most months in 2023 - stock levels locally are rising. This gives buyers a greater choice however provides extra competition for sellers.
Next, lets look at the number of property sales which have been agreed.
September 1 - 26 2022 -Total New Sales Agreed - 40
September 1 - 26 2023 - Total New Sales Agreed - 31
Sales are down 22.5% on the same time last year
What does this tell us?
After a large (48% decline) on sales in August compared to the same time in 2022, sales levels in September 2023 are still down on September 2022 but not the levels we saw last month.
Finally, lets look at price reductions.
September 1 - 26 2022 - Total Price Reductions - 40
September 1 - 26 2023 - Total Price Reductions - 58
Price reductions are up 45% on the same time last year.
What does this tell us?
We have seen the number of price reductions increase throughout the whole of 2023 and these look set to continue in the current market. It is really important for any sellers in the current market to make sure their asking price is as competitive as possible, to give themselves the best chance to find a buyer.
If you are considering selling your home, or have your property for sale in the area with another agent, we would love to help you! Click here to see the different types of valuations that we offer, and pick the right one for you.
The senior staff at Holden Estate Agents have experience in all different housing markets and we would be delighted to help you with any questions, however big or small you may have.