Monton and Eccles’s Property Market Pulse: Deciphering the Latter Half of 2023

Stepping into the world of the property market is akin to stepping into a rhythm. The beats of buying and selling, supply and demand form the underlying tempo.

Monton and Eccles, an area rich in history and character, is no exception. As we venture into the last quarter of 2023, it’s crucial to understand the current property market’s tempo and how it might influence your property decisions.

A Refresher on Market Dynamics

For the uninitiated or those who need a memory jog, Monton and Eccles's property dynamics hinge primarily on the proportion of properties tagged as "Sold STC" and "Under Offer" with the total properties on the market, e.g. if there are 40 properties sold stc and 100 properties available/for sale, then 40 as a percentage of 100 is 40%.

This isn't just a number game; it's a barometer of market sentiment:

• Extreme Buyers' Market (0%-20%)
• Buyers' Market (21%-29%)
• Balanced Market (30%-40%)
• Sellers' Market (41%-49%)
• Hot Sellers' Market (50%-59%)
• Extreme Sellers' Market (60%+)

The weight of these brackets can’t be overstated. They directly impact everything from listing prices to negotiation leverage.

Current Monton and Eccles Property Market Snapshot

To fathom where Monton and Eccles’s property market stands now, let’s incorporate our most recent findings:

The statistics have been sourced from the website 'The Advisory', which has calculated the market state for many years. I wanted to share them from the summer of 2018 to today so you can see for yourself.

What are the Statistics for the Monton and Eccles area for the Last 5 Years?

	Jun-18	Jun-19	Jun-20	Jun-21	Jun-22	Dec-22	Mar-23	May-23	Jun-23	Jul-23	Aug-23	Sep-23
M30	61%	52%	48%	77%	80%	63%	52%	57%	57%	57%	55%	52%

In June 2023, we were at 57% in the Monton and Eccles area. In July, that remained at 57%; in August, it dropped to 55%, and as we enter September, it has dropped to 52%.