September 2023 Monthly Market Report for North Cotswolds

Autumn has definitely arrived, bringing with it a flurry of motivated homebuyers and sellers who would like to get their home moving journey well underway before Christmas. 

 

If you are considering putting your property on the market, then now is an excellent time. Many people think of autumn as a second New Year. The start of the academic year feels like a fresh start, leading to a jump in interest in the property market.

 

The average price of a house in the UK was £265,100 in September.

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 1119 properties available on the market in our area. In September ‘22 there were only 951 properties available in our area. This means there is a 17.7% 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. 

Back to 2023, in August, there were 1122 properties available in our area; in July there were 1085; in June, there were 1112; in May, there were 1048 properties available; and in April, there were 995. 

There are a steady number of properties coming onto the market each month. In September, 235 properties came onto the market; in August, 264; in July, 212; in June, 280 properties came onto the market; in May, 245; and in April, there were 257. 

In September, the number of sales agreed was 151. In August, the number of sales agreed was 144; in July, 156; in June, 184; in May, the number of sales agreed was 191; and in April, there were 145. The local market is as busy as ever, and we expect it to get even busier as we head into the final quarter of 2023.

In April, we saw 107 price reductions across the North Cotswolds property market. In May, there were 121; in June, 162; in July, 151; in August, 166; and in September, there were 183. Many sellers are motivated to reduce the price of their properties at this time of year in order to attract a buyer before Christmas.

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 September, there were 546 slow movers in the North Cotswolds area. This is a property that has been on the market for 12 weeks or more. In August, there were 570; in July, there were 494; in June, there were 465; in May, there were 423; and in April, there were 430 slow movers. The school summer holidays in August tend to have an effect on the property market, as many people put their house hunting on hold during them. This is reflected in the spike in the number of slow movers in the area in September.

Slow movers can often be 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 April, each property in the North Cotswolds area had an average of 92.1 daily views on Rightmove. In May, there were 80.9; in June, they settled down to 69.7; in July, there were 65.2; in August, 67. 9; and in September, 65.5. 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 *