Christmas songs are on the radio, there’s a flurry of activity in the shops and the promise of lots of fun with our loved ones. It is also the season for questions like whether a home is large enough for the whole family or whether, children having flown the nest, it is too large?
New Year means new beginnings for many and so inevitably the thought of a new home is on many people’s minds. All this means that the property market is approaching its traditional busy season.
Let’s have a brief look at what’s been happening over the last month in the local Warrington property market.
There are currently 405 properties available for sale in Warrington. This is 11 less than last month. Of these 405, 48 were new to the market in the last two weeks. The average price of properties in Warrington is £250,004 with the median price at £200,000.
Most of the properties available are in the £100,000 to £200,000 bracket with 170 currently on the market. This is an increase from last month when there were 158 available. There are 28 properties available, in the £500,000 to £1 million bracket, 2 more than last month.
This month, properties in the £100,000 to £200,000 bracket are the fastest movers, only on the market for 92 days. They are closely followed by properties in the £400,000 to £500,000 which only remain on the market for 94 days. Properties priced at £100,000 and under, are now taking 194 days to sell, an increase from 162 days last month. One-bedroom properties with a median price of £90,500 are currently sitting on the market for an average of 289 days. This is an increase from 249 days last month but is still a large decrease from 349 days in September.
This is another example of how selling property can take longer than people often imagine. If you’re looking to upsize from your first home, or are an investor looking to change your portfolio, please bear this in mind when planning.
Let’s take a look at the annual figures now.
The majority of sales around Warrington during the last year were semi-detached properties, selling for an average price of £227,440. Terraced properties sold for an average of £164,980, with detached properties fetching £399,569.
Overall, sold prices around Warrington over the last year were 2% down on the previous year and 14% up on the 2019 peak of £203,826.
This shows the high levels of activity in the local Warrington property market, which are likely to increase or at the very least, remain strong in the first quarter of next year. There is a lot of demand and plenty of people looking to move around Warrington.
If you’re thinking of selling your property, feel free to contact us. If you’re thinking of buying, letting or renting a Warrington property, please don’t hesitate to get in touch. You can call 01925 235 338 or email staff@hamletwarrington.co.uk.
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