If you’re wondering what’s happening in the Medway Property Market this April then here’s your latest housing market update from me, your independent estate agent.

440 properties sold in Medway throughout March, just 5 less than the previous month of February, showing signs of consistency and positivity amongst buyers. These numbers are amongst the highest top 3 for any month going back to August 2022. Rightmove and Zoopla both report on positive year on year growth in sales being agreed with 9% and 13% more sales being agreed year on year respectively. Further backed up by Rightmove who claim buyer demand is up 8% year on year. The average price of these properties being sold was £320,000 which is the highest average we have seen so far this year.

Average days on market for properties for sale now sits at 104, again the lowest we have seen year to date. With the number of available properties for sale and new listings coming to the market dropping during March signs of supply and demand stabilising is strong and buyers have less choice compared to prior months. That being said, Zoopla still report a 20% increase in stock of homes for sale year on year. Which is positive as the state of the market is attracting new sellers, a good proportion of those sellers will also be buyers once they have sold.

The lowest number of properties were reduced year to date during March (283) at an average price of £19,900.

During March, the sales I agreed had an average sale price of £319,786 which equated to 100% of the original price they were listed for sale at. With the highest being 103% and the lowest 99%. This on average gave my sellers £1,214 more than they listed their properties for. The average days on market for these properties were 34.

If you have any questions about the property market then please get in touch, I’d love to represent you in your move.