Harlow property market March 2024
Jukes Estate Agents Harlow present their monthly look at the Harlow property market. Using data supplied by Home.co.uk (https://www.home.co.uk/).
What’s sold in the last 90 days?
During December 2023, January & February 2024, 336 properties sold in Harlow (see image below).
This is the second consecutive quarter that the amount of properties sold has risen. You have to go back to June-August 2023 to see the last time it was this high.
Average selling time of Harlow properties
The average time to sell a property in Harlow stands at 100 days. This is a miniscule reduction from 101 last month. However, a reduction is a reduction and it is worth noting that it’s the first reduction in the last 10 months!
Jukes Estate Agents Harlow has a much healthier average selling time of 42 days.
What is really interesting is the similarity between Juke’s figures and all the other agents figures. While Jukes Estate Agents Harlow continue to sell faster, indeed much faster, they too have seen their selling times rise!
Properties sold by price band.
An enlightening statistic this one! Look at the graphics below:
There are two graphics to look at here. Firstly, the last month. Secondly, the last 10 months.
There was a reduction in time to sell for properties priced £200,000 – £300,000 & £300,000 to £400,000. However, the remaining 4 price bands saw an increase. The amount of £1m+ properties in Harlow do make this banding slightly unreliable. What we really need to see is a constant reduction in selling times. This will only be achieved when:
- The ‘over valuing’ practice of many agents stops!
- Mortgages & interest rates reduce further!
Properties sold by number of bedrooms
Harlow property market March 2024
Time to sell two and three bedroom properties fell in the last month in Harlow. However, they are still at the second highest than at anytime over the last 10 months. After a healthy ‘dip’ in four bedroom properties during January we saw an unfortunate rise! One bedroom properties saw the 8th consecutive rise in time to sell. There was also a sharp rise in 5 bedroom properties.
Properties sold by property type
Here we find that terraced & semi detached properties saw a reduction in their time to sell. Detached properties had a rise after an all time high during November 2023 which was disappointing. The real worry here is the ludicrously high time to sell flats! Over the last 10 months there has only been one month (Nov 2023) where time to sell fell. It is now at 131 days.