The Christmas holidays and the dawning of the new year often bring changes to many. The realisation that their home is no longer right for them, wanting to move for a better lifestyle, family breakdowns or new additions.
It can be a great time of year to sell your property because those house-hunting in January tend to be serious about their move. The Spring Rush can bring many more "would be nice to move" situations whereas people now are more likely in the "have to move" camp.
Let’s have a brief look at what’s been happening over the last month in the local Warrington property market.
There are currently 430 properties available for sale in Warrington. Last month there were 405. Of the 430 properties that are currently available, 33 were new to the market in the last two weeks. In November there were 48 new properties that were new to the market and in October there were 71. The noticeable drop in properties being added to the market was to be expected as December is usually the least popular month for sellers to put their properties on the market due to festive commitments.
The average price of properties in Warrington is £252,677, an increase from £250,004 last month. The median price has stayed the same at £200,000.
Most of the properties available are in the £100,000 to £200,000 bracket with 191 currently on the market. This is an increase from last month when there were 170 available. The month before that there were 158 available. This is good news for buyers and is indicative of the move from a sellers’ to a buyers’ market during this time. Things have now calmed back down to normal levels for the first time since the beginning of 2021 and there is now more choice once again for buyers.
There are 31 properties available, in the £500,000 to £1 million bracket. This is 3 more than last month and 5 more than the month before.
This month, properties in the £300,000 - £400,000 bracket were the fastest movers, only on the market for 80 days. In November properties in the £100,000 to £200,000 bracket were the fastest movers, they were on the market for 92 days.
Properties in the £400,000 to £500,000 bracket are now taking 111 days to sell. This is a decrease of 75% from 194 days last month.
One-bedroom properties had a median price of £95,000 in December, up from £90,500 in November. They are currently sitting on the market for an average of 288 days, similar to last month when they were on there for 289 days. This is an increase from 249 days in October 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.
Four-bedroom properties appear to be the fastest movers in Warrington spending an average time of only 91 days on the market. They have an average price of £419,277 and a median price of £418,000.
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 £228,329. Terraced properties sold for an average of £166,194, with detached properties fetching £398,470.
Overall, sold prices around Warrington over the last year were 1% down on the previous year and 6% up on the 2020 peak of £219,978.
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 this 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.
01925 235 338
staff@hamletwarrington.co.uk
