Maldon Housing Market Update - February 2024
As we head towards March the days are getting longer! Let's have a look at how the Maldon property market has preformed this month.
Maldon Housing Market Review - February 2024
Let's take a look at activity in February and compare this to the same time last year to see what trends there are in the local housing market.
The directors and co-director of Holden Estate Agents have decades of experience in the Maldon housing market - please contact us today for any help or advice you need if you are considering buying or selling a property locally.
Firstly, lets look at new houses coming onto the market.
All figures are CM9 area comparison. February 2023 vs February 2024. Data from rightmove plus (27/2/24)
New Listings
February 1 - 27 2023 - Total New House Listings - 93
February 1 - 27 2024 - Total New House Listings - 94
Next, lets look at the number of property sales which have been agreed.
February 1 - 27 2023 - Total New Sales Agreed - 53
February 1 - 27 2024 - Total New Sales Agreed - 52
Finally let's look at price reductions.
February 1- 27 2023 - Number of Price Reductions - 65
February 1 - 27 2024 - Number of Price Reductions - 34
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What Trends Have we Seen in the Second Month of 2024
Sales levels on the rise from January but similar to 2023 levels
Sales are up 44% compared to January 2024 sales numbers, which is a positive sign that there are buyers in the market. The number of sales in February 2024 compared to the same time last year are down very slightly (only one sale less)
Price Reductions
The number of houses that have been reduced in February is down considerably compared to the same time last year. With the number of houses that continue that come onto the market it will be interesting to see if this figure rises in March 2024.
New Listings
The number of houses that have entered the market in the CM9 area is up slightly on the same time last year, and we expect this trend to continue. We are seeing more houses come for sale which is good for buyers - offering them a choice - but potentially increasing competition for sellers.
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 three types of valuations that we offer, and pick the right one for you!