Maldon Housing Market Update - October 2024
As we approach the end of another month let's take a look at how the local housing market is performing, whilst comparing October 2024 with the same time last year.
The clocks have been set back, and the evenings are becoming progressively darker. This is an opportune time to evaluate the performance of the local CM9 housing market, while also making comparisons to activity during the same period last year.
Firstly, let's take a look at new houses coming onto the market.
All figures are CM9 area comparison.
October 2023 vs October 2024. Data from rightmove plus (28/10/2024)
New Listings
October 1 - 27 2023 - Total New House Listings - 66
October 1 - 27 2024 - Total New House Listings - 98
New listings are up 48% on the same time last year.
What does this tell us?
We're seeing a rise in stock levels in the CM9 area in 2024 and this is showing no signs of stopping.
There’s still plenty of competition in the local market, especially with the number of new builds available, so getting the pricing right is really important for those looking to attract buyers.
For those in the market to buy, this increase in choice is great news! Plus, with some banks reducing their mortgage rates and offering special incentives for first-time buyers who are saving for a deposit, now could be a fantastic time to find your next home.
Looking to buy?
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Next, let's look at the number of property sales which have been agreed.
October 1 - 27 2023 - Total New Sales Agreed - 44
October 1 - 27 2024 - Total New Sales Agreed - 57
Sales are up 29.5% on the same time last year
What does this tell us?
House sale levels in the CM9 area remain higher in 2024 compared to the same period last year, which is a promising indication for the market.
If you are considering a sale (either now or in 2025) of your CM9 property contact us today to see how we can help you. Click here and choose the best valuation for your current situation. We have a choice of three!
Finally, lets look at price reductions.
October 1 - 27 2023 - Price Reductions - 43
October 1 - 27 2024 - Price Reductions - 53
Price reductions are up 23% on the same time last year.
What does this tell us?
With the increase of stock in the local market, it is no surprise to see that price reductions have increased compared to October 2023. The correct asking price is still important in the current market if you are looking to find a buyer.
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.