Maldon Housing Market Update - April 2023
As the first quarter of 2023 comes to an end, let's take a look at what's happened locally in the housing market during April.
Maldon Housing Market Update - April 2023
As we head towards the end of April let's take a look at what has been happening in the local housing market throughout the month.
CM9 area comparison. April 2022 vs April 2023
(Data taken from Rightmove)
New listings
April 1-27 2022 - Total New House Listings - 60
April 1-27 2023 - Total New House Listings - 54
New listings are down 10% on the same time last year.
What does this tell us?
There have been more new listings (YTD) than last year and April is the first month this year that we have seen a decrease, compared to the same time last year. There remains more choice for buyers in the current market with more stock, so anyone considering a move will have more properties to consider than if they were looking to buy a year ago, for example.
Next, lets look at the number of property sales which have been agreed.
April 1 - 27 2022 -Total New Sales Agreed - 48
April 1 - 27 2023 - Total New Sales Agreed - 49
Sales are up 2% on the same time last year.
What does this tell us?
There are still buyers in the market. Furthermore, the UK housing market has returned its best week for sales since September 2022. Sales levels have returned to pre-covid levels.
Finally, lets look at price reductions.
April 1 - 27 2022 - Total Price Reductions - 13
April 1 - 27 2023 - Total Price Reductions - 62
Price reductions are up 377% 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. These are at far higher levels than what we have previously been used to during 2021 and 2022. Put simply, we are in a changing market where the right price is key to whether a house sells or not.
Year to Date Sales Agreed in the CM9 Area - Holden Estate Agents Continue to Lead The Way
Holden Estate Agents continue to lead the way when it comes to agreeing sales throughout the CM9 area.
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.
