July 2023 Monthly Market Report

The wettest July on record followed the hottest June on record, according to the Met Office, but the wet weather did not dampen the property market. 

 

Summer is always a busy time for the property market. The summer holidays give people a chance to reassess their lifestyles, leading to many of them deciding to put their properties on the market.  Buyers and sellers are also aware that if they would like to be settled in their new homes in time for Christmas, they need to start looking now.

 

With this in mind, let’s take a brief look at what’s been happening over the last month in the local property market around the North Cotswolds.

There are currently 1085 properties available on the market in our area. In July ‘22 there were only 833 properties available in our area. This is a 30.3% increase in the number of properties available compared to this time last year. This is great news for buyers, as it gives them more choice. 

In June there were 1112; in May, there were 1048 properties available; in April, there were 995; in March, there were 943; and in February, there were 824. 

There are a steady number of properties coming onto the market each month. In July, 212 properties came onto the market; in June, 280 properties came onto the market. In May, 245 properties came onto the market; in April, there were 257; in March, there were 270; and in February, there were 175. 

In July, the number of sales agreed was 156. In June, the number of sales agreed was 184; in May, the number of sales agreed was 191. In April, there were 145; in March, there were 160 and in February, there were 123. The local market is a hive of activity, and we expect it to get even busier as we head towards the end of 2023.

In February, we saw 120 price reductions across the North Cotswolds property market. In March, there were 119; in April, 107; in May, 121; in June, 162; and in July, 151. As we approach the deadline to sell in order to move in time for Christmas, there may have been an increase in price reductions as a result of sellers wanting to guarantee that their home receives a higher degree of interest. 

It is worth remembering that when properties are priced properly, they sell quickly. Setting an unrealistically high asking price at the outset can delay your move by several months.            

In July, there were 494 slow movers in the North Cotswolds area. This is a property that has been on the market for 12 weeks or more. In June, there were 465; in May, there were 423; in April, there were 394; in March, there were 396; and in February, there were 430 slow movers. 

The number of slow movers is remaining steady and is usually due to the 3 Ps: presentation, promotion, or price. We are proud to be in the top 10 agents in the area with the smallest number of slow movers. Choosing the right agent for your property can make a very real difference in achieving your moving plans.

In February, each property in the North Cotswolds area had an average of 79.1 daily views on Rightmove. In March, they fell slightly to 66.3, then soared to 92.1 in April and 80.9 in May. In June, they settled back down again to 69.7 and remained steady in July at 65.2. There is a high level of activity in the local property market. If you are considering selling your property in the North Cotswolds, now is an excellent time.  

If you’re looking for further information about the North Cotswolds property market, or if you’re thinking of selling or buying in the area, please don’t hesitate to get in touch. You can call 01608 695252 or email hello@distinctpropertyconsultants.co.uk

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *