March sees the start of the Spring Rush which is traditionally the busiest time of year for the property market. Warmer weather brings home buyers out of their self-imposed winter hibernation. Longer days give more opportunities for evening viewings, and spring flowers brighten up and bring outdoor areas to life. All of these things make now the ideal time to put your property on the market.
Let’s have a brief look at what’s been happening over the last month in the local Warrington property market.
There are currently 447 properties available for sale in Warrington. Last month, there were 445 and the month before there were 430. Of the 447 properties that are currently available, 65 came to the market in the last two weeks. In January, there were 73 properties that were new to the market; in December there were 33; in November, there were 48; and in October, there were 71. This is good news for buyers and shows that the market has changed from a sellers' market to a buyers' market. Buyers now have more choice and feel less rushed into making a decision.
The average price of properties in Warrington is £261,154. This is an increase of 4% since November.
Most of the properties available are in the £100,000 to £200,000 bracket, with 182 currently on the market. Last month there were 192, in December there were 191, and in November there were 170 available. In October, there were 158 available. This shows that the local property market is still very busy, despite the doom and gloom in the national media.
There are 36 properties available in the £500,000 to £1 million bracket. This is four less than last month but still five more than December and eight more than November.
Properties in the £300,000 - £400,000 bracket remain the fastest movers, staying on the market for only 87 days, which is 26 more than last month. In December, they spent on average 80 days on the market. In November, properties in the £100,000 to £200,000 bracket were the fastest movers; they were on the market for 92 days.
They are closely followed by properties in the £400,000 to £500,000 bracket, which are now taking on average 97 days to sell, down 3 days since last month. This is a decrease of 100% since November, when they were spending on average 194 days on the market.
One-bedroom properties had a median price of £95,000 in January and December, up from £90,500 in November. In February the median price of a one-bedroom property in Warrington was sitting at £90,000 with an average price of £96,239. They are currently sitting on the market for an average of 290 days, down from 297 days in January. In December they sat on the market for an average of 288 days and in November 289. This is an increase from 249 days in October but is still a substantial 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 are still the fastest movers in Warrington, spending an average of only 92 days on the market, up slightly from 86 last month. They currently have an average price of £438,827, a 4.2% increase since December, when the average price was £419,277. The median price of a four-bedroom property in Warrington is now £415,000.
Let’s take a look at the annual figures now.
The majority of sales in Warrington during the last year were semi-detached properties, selling for an average price of £243,110. Terraced properties sold for an average of £176,766, with detached properties fetching £421,299.
Overall, sold prices in Warrington over the last year were 1% up on the previous year and 8% up on the 2020 peak of £230,796.
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 second 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
