CM23 Property Market Update – February 2026

February has been another steady month for the CM23 property market, with solid levels of new listings and continued activity where homes are priced correctly.

Here’s a breakdown of what happened across Bishop’s Stortford in February and what it means moving forward.

129 New Listings Launched

A total of 129 new properties came to market across CM23 in February.

Average list price: £478,092
Highest launch price: £1.5 million

This shows continued confidence from sellers, particularly at higher price points. However, as we’re seeing consistently, pricing strategy remains crucial in today’s market.

66 Sales Agreed

There were 66 properties that went under offer during February.

Average list price of sales agreed: £425,302
Highest sale agreed price: £1,175,000 – Beldams Gate

The highest value sale agreed in the area this month was the impressive detached home on Beldams Gate at £1.175 million.

What stands out is the difference between the average new listing price (£478k) and the average sale agreed price (£425k). This tells us that:

Competitively priced homes are attracting strong interest
Buyers remain value-conscious
Some higher-priced homes are taking longer to secure offers

The market is active — but it is selective.

61 Price Reductions – Average Drop £17,615 (4.2%)

There were 61 price reductions across CM23 in February.

Average reduction: £17,615
Average percentage reduction: 4.2%

This is an important trend.

We are seeing some sellers test the market at a higher level initially. In certain cases, that price hasn’t quite been achieved but once a realistic adjustment is made, we’re seeing a noticeable boost in viewings and renewed buyer interest.

In simple terms:
When pricing aligns with market expectations, properties move.

How Does This Compare to January?

The overall theme remains consistent with last month.

Well-priced homes are generating strong levels of interest
Sensibly positioned properties are going under offer
Over-ambitious pricing is being corrected

The Bishop’s Stortford property market is not stagnant, it is price-sensitive.

Buyers are informed, watching the market closely and ready to proceed when value is clear.

Interest Rates & Affordability

Inflation figures came in low this month, increasing expectations that a Bank of England base rate cut could be on the horizon.

If that materialises, it should:

Improve mortgage affordability
Boost buyer confidence
Increase activity levels

Many buyers are already in position with Decisions in Principle secured and are ready to move quickly when the right property becomes available.

Stock Levels – Spring Market Incoming?

A common comment from buyers at the moment is that stock levels feel limited, particularly in popular price brackets under £600,000.

While 129 new listings is healthy, demand in certain segments remains strong.

We expect to see an increase in new properties launching as we move into the spring market. Historically, March and April bring more sellers to the market, and early indicators suggest that trend could repeat this year.

If that happens, we should see:

More choice for buyers
Increased viewing activity
Greater competition for the best-presented homes

Our View on the CM23 Market

The February 2026 CM23 market remains stable and active.

Realistic pricing is key
Buyer demand is present
Adjustments are unlocking movement
Spring could bring increased momentum

If you are considering selling in Bishop’s Stortford, the first few weeks on the market are crucial. Getting the pricing and marketing strategy right from day one makes a significant difference.

If you would like an honest, up-to-date view of what your property could achieve in the current CM23 market, feel free to get in touch with our team at Willmott & Lake.