The leaves are falling, the clocks have gone back and children, still hyped-up on sugar from their Halloween trick or treating, are now looking forward to this weekend’s fireworks displays. November brings with it darker mornings and chillier nights and so comes thoughts of Christmas and the New Year. This inevitably focuses the minds of those who have been considering moving, as they consider whether their homes are too small or indeed too large for their needs.
The looming New Year sparks thoughts of new beginnings and new homes so, despite the doom and gloom in the papers, life continues. People still move home and the property market continues to be busy.
Let’s have a brief look at what’s been happening over the last month in the local property market around West Lothian.
There are currently 460 properties available on the market in the area. The month prior there were 434, with 399 in August and 355 in July. Things have started to calm back down to normal levels and there is now more choice once again for buyers.
There is a steady number of properties coming onto the market each month. In July there were 202, August 224, in September 249 and in October 216.
In October 170 sales were agreed. The month before 210 sales were agreed. In August The 205 sales were agreed and in July, 192 sales were agreed. As more properties come to the market, more sales are happening. Although the media has been talking about the market cooling, the local facts show that there is still a lot of activity.
We saw 10 price reductions across the West Lothian property market in July. In August, this number increased to 18, in September it was 24 and in October it jumped to 36. This could imply that some sellers’ or agents’ expectations of what the market is prepared to pay are not in line with reality.
In October and September, there were 48 slow movers in the West Lothian area. This means a property that has been on the market for 12 weeks or more. This could be due to the market returning to more normal levels but expectations still being at the peak levels. In August there were 37 slow movers and the month before there were 18.
Slow movers can often be due to the 3 Ps – presentation, promotion, or price. We are proud to be in the top 10 agents in the area with the smallest numbers of slow movers. Choosing the right agent for your property can make a very real difference to achieving your moving plans.
In June each property in the West Lothian area had average daily views on Rightmove per property of 208. In July it was 172. In August, this number remained steady at 173. In September this number fell slightly to 149 and in October dropped to 102. This is not unusual for this time of year with many families busy over half term and focused on Halloween activities and Bonfire night. The high levels of activity in the local West Lothian property market are likely to increase or at the very least, remain strong in the final quarter of the year.
If you’re looking for further information about the West Lothian property market, or if you’re thinking of selling or buying in the area, please don’t hesitate to get in touch. You can call 01506 637553 or email firstname.lastname@example.org.
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