Maldon Housing Market Update - November 2023
As we edge closer to Christmas let's take a look at what has happened in the local Maldon housing market during the month of November, and how that compares to the same time last year.
As we come towards the end of the eleventh month of the year let's take a look at what has happened in the local housing market during the last month.
Market Activity -November 2023
CM9 area comparison. November 2022 vs November 2023
(Data taken from Rightmove)
New listings
November 1-27 2022 - Total New House Listings - 67
November 1-27 2023 - Total New House Listings - 57
New listings are down 15% compared to the same time last year.
November saw the new look Holden for sale boards hit the streets of Maldon!
What does this tell us?
Stock levels have been increasing throughout 2023. There still remains a good choice in the housing market for anyone looking to buy in the Maldon district even if the number of new listings are lower this month compared to the same time last year.
Next, lets look at the number of property sales which have been agreed.
November 1 - 27 2022 -Total New Sales Agreed - 33
November 1 - 27 2023 - Total New Sales Agreed - 41
Sales are up 24% compared to the same time last year.
November saw the new look Holden sold boards hit the streets of Maldon!
What does this tell us?
Whilst the current market remains challenging, there are still buyers out there looking to buy in the Maldon district. This is a good sign as we head to 2024 and 24% more sales agreed compared to the same time last year is an encouraging increase.
Finally, lets look at price reductions.
November 1 - 27 2022 - Total Price Reductions - 40
November 1 - 27 2023 - Total Price Reductions - 38
Price reductions are down 5% compared to the same time last year.
What does this tell us?
We have seen the number of price reductions increase throughout the whole of 2023 as the right asking price is crucial in the current market. November has seen the number of price changes drop on the same time last year.
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.
Holden Estate Agents - Continuing to lead the way for sales agreed in the CM9 area....