Maldon Housing Market Update - July 2024
The school holidays are upon us and the sun is finally shining. As we approach the end of July lets take a look back at the local Maldon housing market, to see how it has performed.
Maldon Housing Market Update - July 2024
The school summer holidays are finally upon us, and with the sun finally shining, it's that time of the month again to take a look back at local house market activity in the Maldon CM9 area, to see how it is performing compared to the same time last year.
Here we can also look to see if there are any trends to help those trying to sell in the current climate.
Firstly, let's take a look at new houses coming onto the market.
All figures are CM9 area comparison.
July 2023 vs July 2024. Data from rightmove plus (29/7/2024)
New Listings
July 1 - 28 2023 - Total New House Listings - 72
July 1 - 28 2024 - Total New House Listings - 93
New listings are up 29% compared to the same time last year.
What does this tell us?
Stock levels continue to grow in the Maldon area, a trend we have seen throughout 2024.
Competition continues to increase for those selling, especially with the number of new builds currently available.
Correct pricing is so important to those looking to find a buyer in the current market.
Choice increases for those buying. With some banks reducing their mortgage rates, along with special incentives for first time buyers struggling to save for a deposit, this could be a great time to find your next home.
There certainly is a strong choice for buyers in certain local price brackets.
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Next, let's look at the number of property sales which have been agreed.
July 1 - 28 2023 - Total New Sales Agreed - 47
July 1 - 28 2024 - Total New Sales Agreed - 53
Sales are up 13% compared to the same time last year.
What does this tell us?
Sale levels continue to be at a higher level than the same time last year, and there remains a demand from buyers looking to move to Maldon.
Finally, lets look at price reductions.
July 1 - 28 2023 - Total New Sales Agreed - 57
July 1 - 28 2024 - Total New Sales Agreed - 61
Price reductions are up 7% on the same time last year.
What does this tell us?
With stock levels increasing, the asking price is key to achieving a sale in the current market. If you are currently for sale and not having success please call - we would be delighted to provide impartial advice.
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.
