GRAVESHAM PROPERTY MARKET UPDATE

GRAVESHAM PROPERTY MARKET UPDATE – May 2024 🏡

The Gravesham Property Market (DA11 & DA12). Here we look at data for new listings, sales and the time its currently taking to sell a property. Data up to May 31st, 2024 📅

Headlines for Gravesham

Listings 📋

Listings for last month (May 2024) increased by 6% from May 2023 (from 146 to 155). 📈

Accumulative Total Gross Listings YTD are 6.8% higher than 2023 YTD levels and 17% higher than 2022. 📊

This year's YTD listings stand at 672, which is 9% higher than the historical 3-year YTD average of 619 properties. 📆

Average Asking Price 💷

The average asking price at May 2024: £349,372

The average national asking price in May 2024: £375,131

Sales 🏡

Total Accumulative Gross Sales YTD are 3.5% higher than 2023 YTD levels and 5.7% lower than 2022 levels. 📉

Gross Sales for May: 118 properties were sold STC in May, a 6% increase from last May's figures (146) and a 25.5% increase from last month's Gross Sales figures (94). 🔝

Total accumulative Gross Sales YTD stand at 507. This is a 10.26% decrease on the YTD average of the last 3 years of 565. (2023/22/21). 📉

Overall Time to Sell (over the last 90 days) ⏳

The overall time to sell represents the actual time taken from a property coming onto the market to reaching a ‘sold status’ on portals. 🌐

Average selling time – 98 days

Median selling time – 45 days

Country Average – 62 Days (as reported in Rightmove’s May house price index)

Note: The mean is the number you get by dividing the sum of a set of values by the number of values in the set. In contrast, the median is the middle number in a set of values when those values are arranged from smallest to largest. 🧮

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