Maldon Housing Market Update - June 2024
The sun is finally out in Maldon - let's take a look and see if the local housing market is hotting up.....
Maldon Housing Market Review - June 2024
As summer finally hits Maldon 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.
June 2023 vs June 2024. Data from rightmove plus (28/6/2024)
New Listings
June 1 - 28 2023 - Total New House Listings - 81
June 1 - 28 2024 - Total New House Listings - 95
New listings are up 17% compared to the same time last year.
What does this tell us?
After a fall last month, new listings are once again higher than the same time last year, demonstrating that available stock is now higher than previous months.
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.
June 1 - 28 2023 - Total New Sales Agreed - 49
June 1 - 28 2024 - Total New Sales Agreed - 60
Sales are up 22% compared to the same time last year.
What does this tell us?
A positive sign with a healthy increase of sales agreed for the month. We are still seeing demand for buyers looking to move to Maldon however the increased demand (including all the new build sites) means price is key in today's market.
Finally, lets look at price reductions.
June 1 - 28 2023 - Number of Price Reductions - 48
June 1 - 28 2024 - Number of Price Reductions - 47
Price reductions are down 2% on the same time last year.
What does this tell us?
With stock levels increasing, it is a surprise reductions are down compared to the same time last year.
This could come down to more houses entering the market at the correct price, however with the amount of stock available we would expect these numbers to rise in the coming months.
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