CM23 Property Market Update - July 2025

The property market across CM23 remained active in July, with buyer interest holding firm and sellers adjusting expectations to meet current demand. Here's a breakdown of what’s happening in Bishop’s Stortford, Manuden, Farnham, and Spellbrook.

Sales Agreed – A Strong Month for Higher Value Homes

There were 67 sales agreed across CM23 in July, with an average sale price of £584,686. This represents a noticeable increase from June’s average of £513,186, suggesting growing confidence among buyers—particularly in the mid to high-end market.

The highest agreed sale price hit £3,500,000, reaffirming demand for prime property.

More Affordable Stock Coming to Market

108 new properties were listed for sale in July with an average asking price of £474,971, down from £544,440 in June. This shift signals an increase in lower-value homes hitting the market—good news for first-time buyers or those looking to downsize in Spellbrook or the outskirts of Bishop’s Stortford.

The highest new listing in July came to market at £1,350,000, but the broader trend is clear: there's now greater choice for buyers at more accessible price points.

Price Reductions – Realistic Pricing Driving Results

75 properties across CM23 reduced their asking prices in July. The average reduction was £18,061, which equates to an average price cut of 4%.

This adjustment shows that sellers are recognising the importance of setting a competitive price—especially as more listings come to market. It’s a key factor in helping properties stand out and sell in areas like Thorley, Cannons Mill, and central Bishop’s Stortford.

What This Means for Buyers and Sellers in CM23

• Sellers in Bishop’s Stortford, Manuden, Farnham or Spellbrook:
  With good levels of buyer activity and a more price-sensitive market, professional marketing and correct pricing are more important than ever. Homes presented and promoted well are still achieving strong results.

• Buyers in CM23:
  You now have more choice, particularly in the sub-£500,000 bracket.

At Willmott & Lake, we’re proud to be your trusted local estate agent. We cover Bishop’s Stortford, Manuden, Farnham, Spellbrook, Stansted, Elsenham, Great Dunmow, and Takeley—and we understand exactly what makes each area and its market unique.

If you're thinking about moving, curious about your home's value, or just want a friendly, expert view of the current market, we’re always happy to help.