Maldon Housing Market Update

Maldon Housing Market Update - November 2024

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 approach the end of November, it's time to look at what is happening in the local housing market, and whether the market is slowing down as we approach Christmas.

Firstly, let's take a look at new houses coming onto the market.

All figures are CM9 area comparison

November 2023 vs November 2024. Data from rightmove plus (26/11/2024)

New Listings

November 1 - 26 2023 - Total New House Listings - 53

November 1 - 26 2024 - Total New House Listings - 80

New listings are up 51% on the same time last year.

What does this tell us?

Stock levels in the CM9 area have been rising all year, which is shown by a sizable increase of new homes coming into the market. Buyers have a good choice so it could be a great time to buy, whilst sellers need to stay competitive with increased competition for them.

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Next, let's look at the number of property sales which have been agreed.

November 1 - 26 2023 - Total New Sales Agreed - 41

November 1 - 26 2024 - Total New Sales Agreed - 63

Sales are up 54 % compared to the same time last year.

What does this tell us?

The local market continues to perform better than in 2023, and this large increase of sales compared to the same time last year is a good reflection of this.

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Finally, let's look at price reductions.

November 1 - 26 2023 - Price Reductions - 36

November 1 - 26 2024 - Price Reductions - 38

Price reductions are up 5% on the same time last year.

What does this tell us?

With levels of stock increasing, it is no surprise to see reductions up on the same time last year. If you are currently trying to sell the correct price is key to ensuring you find a buyer, especially with the increased choice for buyers.

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