Harlow property market Jan 2024
Below is a comprehensive look at the Harlow property market as of January 1st 2024.
Data supplied by https://www.home.co.uk/
There is so much speculation about what is going to happen in 2024 with the property market.
If we knew exactly what was going to happen, we would be millionaires!
Most experts suggest that 2024 will see base interest rates drop to 4.75% by the end of this new year. At our meeting with the Bank of England a few weeks ago, they suggested the same.
You can rest assured that Jukes Estate Agents Harlow, will keep you bang up to date with everything and that we will continue to:
CHANGE THE WAY ESTATE AGENTS WORK!
So, here we go with all the latest info…
Harlow property market
SELLING TIMES IN HARLOW:
There were 271 properties sold in Harlow over the last 90 days.
The average time to sell a property was 89 days.
Firstly, there were 2 properties that sold under £100,000 and they took on average 72 days to sell.
Secondly, there were 30 properties that sold between £100K & £200K and they took on average 100 days to sell.
Thirdly, there were 79 properties that sold between £200K & £300K and they took on average 78 days to sell.
Then we had 95 properties that sold between £300K & £400K that took on average 81 days to sell.
There were 38 properties priced between £400K & £500K that took on average 102 days to sell.
Next come 23 properties priced between £500K & £1M that took 127 days to sell on average.
Finally, there were 4 properties priced over £1,000,000 that sold & it took on average 124 days to sell them.
Below are selling times by number of bedrooms.
There were 23 one bedroom properties that sold taking on average 89 days.
85 two bedroom properties sold taking on average 87 days to sell.
Next we have 109 three bedroom properties that took on average 80 days to sell.
4 bedroom properties took on average 138 days to sell and there were 33 of them.
Finally, there were 11 5 bedroom properties that sold which took on average 77 days to sell.
Below are selling times by property types.
Firstly, there were 57 flats that sold with an average selling time of 105 days.
Secondly, there were 79 terraced properties with an average selling time of 74 days.
Thirdly, semi detached properties accounted for 77 sold properties and took an average 84 days to sell.
Finally, there were 40 detached properties that took 113 days on average to sell.
Property for sale and ToM (time on market).
Harlow property market Jan 2024
There are currently 497 properties for sale in Harlow.
The average time on the market of all unsold property is 142 days!
Unsold propeties for sale in Harlow by price.
Unsold property in Harlow by number of bedrooms.
Property unsold in Harlow by property type.
Time on market of unsold properties by. time bands
Conclusion
Firstly, whilst it’s the first Harlow property report of the year, there’s data that screams out for examination.
The fact that there are 34 properties that have been on the market for a year or more is unbelievable.
Secondly, 263 properties have been on the market for longer than the average selling time (89 days).#
Finally, terraced properties continue to be the easiest type of property to sell.
However, these points could easily be rectified.
Therefore, these points will form the basis of our next blog.