🌼 May Market Update – CM23, CM22, CM24 & CM6 1

🌼 May Market Update – CM23, CM22, CM24 & CM6 1

As we step into summer, the property market across Bishop's Stortford, Manuden, Farnham, Berden, Stansted Mountfitchet, Takeley, Little Canfield, Elsenham, Henham and the surrounding villages has shown real signs of momentum – especially throughout May.

📈 New Instructions & Listings
A total of 246 new homes came to market across CM23, CM22, CM24 and CM6 1, with an average asking price of £569,519. This level of activity shows a growing confidence from sellers, and an encouraging sign for buyers looking for fresh opportunities.

🔑 Sales Agreed on the Rise
161 properties went under offer in May – the highest monthly figure we’ve seen so far this year. For comparison:

• January: 152 sales agreed

• February: 131

• March: 152

• April: 151

The average sale agreed price in May was £520,227, reflecting a continued demand for quality homes at sensible prices.

📉 Pricing Adjustments & Market Realism
There were 145 price reductions recorded during the month. On average, sellers reduced their asking prices by £27,696, which equates to a 4.9% adjustment. These amendments have been key in generating renewed interest and progressing sales.

We’re seeing a clear trend: where properties are priced realistically – especially following an initial adjustment – they are far more likely to achieve a sale. It’s a reflection of a market that remains active and competitive, but increasingly price-sensitive.

💬 What This Means for You
Whether you're considering selling now or later this year, the data from May reinforces the importance of correct pricing from the outset – or being prepared to adjust when needed. The good news is that serious buyers are very much in the market, and homes that are sensibly positioned are moving.

If you'd like an up-to-date valuation or advice on how to navigate the current market, feel free to get in touch – we’re always here to help.