This month the housing market has been described by National Press as a bit of roller coaster with more ups and down, than the big dipper at Blackpool Pleasure Beach. It’s certainly been an interesting July. Ask a local agent how the Lancaster market is performing, and you are likely to get a mixed response. 13 estate agents sold only 4 properties or less. Only two of us made it to double figures. How can an agent say it is great if they only sold 4 properties?
Buyers are looking, but many feeling more cautious, taking their time in making their decisions. Prices are still stable locally, although many sellers need to have some flexibility in their asking price.
The biggest issue in July has been the weather. Consider this. When the sun was shining and the temperature was touching 28 degrees, what were you doing? Were you out on the beach? In the garden enjoying a BBQ or did you sit on your computer searching Rightmove?
Here are the figures for Lancaster (LA1) July 2019
What actually sold and where?
The most popular selling area in Lancaster in July was once again LA1 4 where 22 homes went under offer. 3 of the most expensive home’s sales were also in this postcode area. The most expensive property sale was a large student investment in the city centre – it was the only sale above £500,000 in Lancaster. So far this year, there have been just 5 sales above £500,000 in LA1. Terraces homes are still the biggest seller, however, semi-detached homes remain in high demand.
Sales by price
up to £125,000 31
£125,000 – £250,000 32
£250,00 – £500,000 7
£500,000 + 1
Sales by postcode
LA1 1 6
LA1 2 11
LA1 3 19
LA1 4 22
LA1 5 13
Sales by property type
Detached 6
Semi-detached 24
Terrace 30
Flats 10
Bungalows 1
This month 17 different estate agents were involved with the 71 property sales in LA1. Here at JDG, we accounted for 22.5% of all the property sales.
We had some excellent successes, Forest Park, Torrisholme Road, The Residence, Rossall Road and Hamilton Drive were all snapped up in just days. 3 of the properties which switched to us from other agents sold in under 2 weeks.
If you are thinking of selling, why not get in touch. We have a very simple but highly effective 14 step plan to help you achieve the best price for your home. We would love to help. Call us on 01524 843322 or email me at michelle@jdg.co.uk
Ps. Why not try out our handy online valuation tool? It is not as accurate as having us around but in under 60 seconds, you could have a good indication as to what your home may be worth. Why not give it a try?