Romford Property Market Review - November 2023
Here’s our November property market review for Collier Row, Rise Park and the Mawneys areas.
There were 59 new properties added to the market in November and this is a slight decrease from October where 68 new properties were added.
5 of those 59 properties were sold in the first 4 weeks of marketing and this slightly down from October where 11 properties were also sold in the first 4 weeks.
I genuinely believe sellers secure the best price for their home in the first four weeks of marketing and our sales strategy is crafted to ensure that, whenever possible, we achieve a fantastic sale within those first four weeks.
Slightly less properties have been reduced this month with 26 price reductions compared to 37 price changes in October and this is due in part to the lower amount of new properties available but also sellers and agents having a more realistic view of the market.
We’ve seen 59 new registered buyers this month and 20 of those (so almost 35%) are first time buyers. 9 are chain free with nothing to sell and 6 had a property to sell with 2 of them under offer.
Success Story:
A fantastic result for the sellers and the buyers of this bungalow in Clyde Way. The buyers will be able to modernise the property and create their forever home.
Here’s the link to the property.
It also highlights the benefits of registering to use our ‘Heads-Up’ alerts which gives access to all new properties at least 3 days before they appear on the property websites.
Conclusion
So overall, we’ve seen a slightly lower number of new properties become available which is what we would expect as we get nearer to Christmas. This may continue into December but we are likely to see the amount of new registered buyers increase as these will be looking to start their property search in the New Year.
If you're thinking of selling your property, there are 3 types of valuation. See which one is best for you.
If you're struggling to get an offer on a property that you're selling at the moment, click here to see how we could get you the offer you need to get your move back on track.
That’s a summary for November and if you have any questions about the market or even if you’re struggling to sell and you’d like some advice, please get in touch.
