CHRISTCHURCH WEEKLY PROPERTY MARKET UPDATE
November 21st, 2022
With the recent Autumn Statement and mortgage rates falling, the market is steady and settled
CHRISTCHURCH WEEKLY PROPERTY MARKET UPDATE
Here are the stats for the BH23 area in the last week:
54 new properties listed (no change from last week)
4 of these new instructions have sold already
20 price reductions (no change)
468 total properties for sale (a slight increase)
628 properties under offer/sold (a fall of 19 from last week, and 32 from the week before)
Total properties for sale in BH23 area today stands at 468 with another 628 properties sale agreed, this means that out of a total of 1096 properties on the market in the Christchurch BH23 area – around 57% are sale agreed, this figure has dropped by 3% over the last few weeks but the market is steady and properties are going through to exchange and completion instead of falling through.
What is interesting to note is that there are around 140 properties which have been For Sale on the market for three months or more – 30% of all properties for sale.
With more prices being reduced Rightmove say:
‘…there are signs that more existing sellers, whose properties were already on the market and unsold, are willing to take their agents’ recommendations and reduce their prices in order to achieve a quicker sale.’
As we get further into the December period, your decision making about selling your home will become more important.
Do you stick with your current agent and strategy, or go down a different route? What’s clear is that if you have been on the market for 12 weeks and nothing has changed, then you are unlikely to sell before Christmas unless you do something to make it happen.
If you are concerned that your property sale is going nowhere, don’t leave it to go stale on the market, please get in touch and ask for a sales strategy meeting with me so I can provide solid advice and a plan to get it sold.
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