Harlow property market 2024 overview
AVERAGE TIME TO SELL A HARLOW PROPERTY
The story of selling times for a Harlow property in 2024 is a mixture of good & bad. The year ended on 89 days and that’s exactly how it started in January.
Average selling times increased in February, March & April. They peaked at a poor 105 days!
May through to November saw month on month falls in selling times. November saw times fall to 74 days. Whilst this was still not that good, it was a 30% reduction on April!
The December increase was to be expected but perhaps returning to 89 days was not! Data supplied by home.co.uk (https://www.home.co.uk/).
Jan-24 89 days. Feb-24 101 days. Mar-24 100 days. Apr-24 105 days. May-24 90 days. Jun-24 86 days.
Jul-24 86 days. Aug-24 80 days. Sep-24 78 days. Oct-24 75 days. Nov-24 74 days. Dec-24 89 days.
TIME TO SELL BY PROPERTY PRICE BANDS
When it comes to selling times of Harlow property by price band, there are different pictures depending on price.
The Lower band of £100,000 to £200,000 has remained fairly constant throughout 2024.
£200,000 to £300,000 has seen a steady improvement throughout 2024.
£300,000 to £400,000 had a fabulous first 8 months but has seen a month on month increase since August.
In contrast, £400,000 to £500,000 properties saw a massive rise in selling times in April. However, since then they have fallen month on month.
£500,000 to £1,000,000 had a fairly steady first half of the year. Unfortunately, the second half of the year has seen selling times shoot up from 86 to 196 days. Fingers crossed that 2025 see a swift return to decent selling times.
The upper quartile of Harlow properties (£1,000,000 +) has seen an excellent fall from 181 days in the summer to 67 days in December. It is however, worth noting that a high percentage of those properties had massive price reductions before they actually sold.
TIME TO SELL BY NUMBER OF BEDROOMS
Harlow property market 2024 overview
ONE BEDROOM 89, 106, 113, 110, 99, 99, 89, 61, 59, 52, 78, 86.
TWO BEDROOMS 87, 115, 108, 110, 91, 101, 102, 92, 90, 88, 80, 71.
THREE BEDROOMS 80, 100, 91, 97, 84, 72, 71, 64, 56, 52, 71, 74.
FOUR BEDROOMS 138, 78, 97, 99, 85, 64, 78, 100, 110, 123, 128, 130.
FIVE BEDROOMS 77, 63, 93, 103, 139, 123, 106, 110, 189, 234, 289, 339.
While 5 bedroom properties have performed badly all year and 4 bedroom properties have had a poor second half of the year, 1,2 & 3 bedroom properties have done ok.
Two bedroom properties have perhaps performed the best. 5 consecutive reductions in selling times make them the fastest sellers by bedroom numbers in 2024.
TIME TO SELL BY PROPERTY TYPE
A disappointing end to 2024 when it comes to selling times by property type. I say this because flats, terraced & semi detached properties were doing so very well. However, the last 3 or 4 months of the year has seen the market slow.
CONCLUSION
The Harlow property market has performed reasonably well throughout 2024.
“I believe it could and should have performed much better.” said Jukes Estate Agents Harlow marketing director Geoff Flewers. He continued: “It’s our old friend ‘over valuing’ that has held it back!”.
This statement holds a lot of water & when you look at the larger agents in Harlow and drill down deep. Flewers continues: “It is fine shouting out loudly that you’ve sold 200 properties this year. However, what about the 200 you didn’t sell?”.
Again, this is a fair point. Agents will always crow about what they sold but hide away the ones they didn’t sell. Geoff Flewers believes that it’s the percentage of stock sold in less than the area’s average selling time that counts.