TIME IS MONEY…I just wanted to share this case study with you by way of an update on the local property market. It is something that we are seeing a lot of at present. If you scan the QR code, you will be able watch a short video update on the market, and I would encourage you to do so.
I am asked often, “How is the market?” and I am pleased to report that despite the election, the local property market remains incredibly active. This month (June) our patch (B90-B95) has seen 278 properties come to market, it has had 219 sales agreed and the number of properties available to buy is currently sat at 1560 (as of 25th June).
Whilst stock levels remain high, downward pressure is put on the pricing of many properties that have arguably been listed at unachievable levels – so far this month there have been 181 price reductions (over 10% of available stock).
It isn’t easy getting pricing right in this market, especially with so many opinions often being thrown into the mix. However, one statistic that I am proud of is that over the last quarter at DM & Co. we have achieved a sales rate of 89%, that is the percentage of sales agreed vs. new instructions – to put that into context, the average on our patch is only 41% – this goes to show that we are at least practising what we preach. Of the 94 completions that we have had this year to date 35% of those have had sales agreed at or in excess of the asking price. Sensibly priced property really does sell.
If you are thinking about selling your property, or struggling, a little like the case study in the video (please scan the QR code) then please do get in touch. I would love to help you. I am freely available on WhatsApp on 07595 903 811. If you would prefer to call or email, please do, the number is the same and my email is [email protected]
I look forward to helping you!
Dominic Murphy | DM & Co. Homes
