Let’s talk price reductions—a topic that’s become increasingly relevant in Lancaster’s evolving property market. Since January 1st, 1 in 7.3 homes on the market in Lancaster have seen a price cut. So, what’s really going on?
🏡 The Growing Market and Rising Competition
Over the past few years, the number of homes for sale in Lancaster’s LA1 and LA2 postcodes has risen sharply—from 435 in March 2022 to 994 by March 2025. That’s more than double.
While that’s great news for buyers (more choice!), it does mean sellers need to be extra strategic with their pricing. In a busier market, it’s easy to get overlooked if your home isn’t priced just right.
🎯 The Magic of Price Bands
Here’s a little-known trick: how you price your home can affect how often it shows up in buyer searches.
Portals like Rightmove, Zoopla and OnTheMarket use preset price bands. Listing at £400,000 instead of £399,950, for example, puts you in both the £375k–£400k and the £400k–£425k search brackets—doubling your visibility!
Smart pricing isn’t just about the number—it’s about where it places you in buyers’ searches.
🔁 When and How Much to Reduce
If you’re thinking about a price drop, the timing and size of the reduction are key.
📨 On Rightmove and OnTheMarket, you’ll only trigger new email alerts with a 2%+ drop. On Zoopla, it needs to be 3%. Anything less and your listing won’t get that second burst of attention from buyers.
📊 What the Data Really Says
A lot of people have mentioned they’re seeing more price drops lately—and they’re right.
Here’s the breakdown:
- In 2020, 7.8% of listed Lancaster homes reduced their prices.
- In 2021, it was 7.0%.
- In 2022, 8.8%.
- In 2023, 10.9%.
- In 2024, that jumped to 13.7%.
- And in Q1 of 2025, we’re still seeing 13.7%.
While price reductions are increasing, this is mostly because more homes are on the market. Proportionally, the trend has remained fairly steady—about 9.63% of homes have reduced their price each month on average over the last five years.
💡 Pricing It Right from Day One
Here’s the truth: homes priced realistically from the start usually sell quicker and with fewer compromises. Those that start too high often need larger reductions later on—which can lead to longer waits and missed opportunities.
Tempted to “test the market” with a higher price? That’s fine—but if viewings don’t pick up within the first 2 to 4 weeks, it’s time to pivot. Waiting longer can make your home feel stale in buyers’ eyes.
🛑 Six Signs It’s Time to Rethink Your Price
- Hardly Any Viewings
Photos and description look great, but no one’s calling? Price could be the issue. - Lots of Viewings, No Offers
If you’ve had 8–10+ viewings and no serious interest, your price might be putting buyers off. - Lowball Offers Only
Consistent cheeky offers? Buyers may think your home needs work—or that it’s overpriced. - Plenty of Competition
If several similar homes are for sale—and some are “Sold STC”—take a closer look at how yours compares. - Seasonal Market Dips
Spring is peak season, but July, November and December tend to be slower. Flexibility is key. - Viewer Feedback
Are people commenting that the price feels high? That’s a red flag worth listening to.
👋 Thinking of Selling or Already On the Market?
The Lancaster market is full of opportunity, but it also demands realism. If you’re on the market and wondering whether to tweak your price—or you’re just starting the selling journey—let’s talk.
We’ll give you honest advice tailored to your home, your goals, and Lancaster’s current climate. No pressure. No jargon. Just what you need to know to get moving.
📞 Call us on 01524 843322— remember, at JDG we are always here to help!
Thanks for reading
Michelle
