A few weeks ago, I stated that of the Lancaster properties that have sold subject to contract (stc) in the three months of Dec, Jan & Feb, it took an average of 62 days to sell. The UK average was 78 days.
Time has moved on and now, looking at the last 3 months, the average Lancaster home is on the market for 56 days before agreeing on a sale.
This week we wanted to look at saleability rates in terms of property type and number of bedrooms.
Saleability can be measured in several ways. One method is to calculate what percentage of homes of that type, etc, sell compared to how many do not. Another is to calculate how long it takes to agree on a sale. A few weeks ago, I looked at how the price range affects how long it takes to agree on a sale.
Therefore in this article, I wish to look at how quickly a property sells when looking at the type of property or the number of bedrooms.
Lancaster Detached, Semi-Detached, Terraced or Flat – Which sells the quickest?
Looking at the home sales that have taken place in the last three months, this is how long it has taken to find a buyer for the different property types:
- Detached homes in Lancaster – 72 days to find a buyer.
- Semi-detached homes in Lancaster – 52 days to find a buyer.
- Terraced / Townhouses in Lancaster – 46 days to find a buyer.
- Flats / Apartments in Lancaster – 120 days to find a buyer.
Lancaster 1 beds, 2 beds, 3 beds, 4 beds or even 5+ beds – Which sells the quickest?
Looking at the home sales that have taken place in the last 3 months, this is how long it has taken to find a buyer for the different bedroom types:
- One-bed homes in Lancaster – 139 days to find a buyer.
- Two-bed homes in Lancaster – 51 days to find a buyer.
- Three-bed homes in Lancaster – 49 days to find a buyer.
- Four-bed homes in Lancaster – 29 days to find a buyer.
- Five beds (or more) homes in Lancaster – 117 days to find a buyer.
Drilling down into the numbers, it becomes apparent that Lancaster terraced/townhouses are the quickest to sell when it comes to the type of property and Lancaster properties with four bedrooms sell the quickest.
Understanding and adapting to what is happening in the Lancaster housing market is critical for those selling their homes. The proper presentation and pricing strategy can significantly enhance your Lancaster property’s appeal. Sellers need to emphasise their property’s unique selling points, be its location, size or specific features. Ensure your property is well-presented and it must be attractively priced to be in alignment with market trends and other homes on the market.
If you are thinking of moving, can we talk? My name is Michelle Gallagher. You can call me on 01524 843322 or email me at michelle@jdg.co.uk.
Thanks for reading
Michelle
