February 2023 Monthly Market Report for Larbert, Bonnybridge & Denny

March sees the start of the Spring Rush which is traditionally the busiest time of year for the property market. Warmer weather brings home buyers out of their self-imposed winter hibernation. Longer days give more opportunities for evening viewings, and spring flowers brighten up and bring outdoor areas to life. All of these things make now the ideal time to put your property on the market. 

Let’s have a brief look at what’s been happening over the last month in the local property market around Larbert, Bonnybridge & Denny.

There were 168 properties available on the market in our area in February. This is 60% more than were on the market at this time in 2022 which is excellent news for buyers as it gives them more choice. Last month, there were 157. In December, there were 135; in November, there were 184; and in October, there were 210. 

The number of properties that came onto the market in February, 80, demonstrated that the market in this area is remaining buoyant. There has been a steady flow of properties coming onto the market each month. In January, there were 61, and in December, there were 34. This lower number was to be expected, as December is usually the least popular month for sellers to put their properties on the market due to festive commitments. In September, there were 105; in October, there were 113; and in November, there were 76. 

February is the month of love, and this certainly was true in the local property market, with 83 homebuyers falling in love with a new property around Larbert, Bonnybridge & Denny. This is 10 more than in February last year. Despite the doom and gloom in the media, activity in the Larbert, Bonnybridge & Denny property market remains high. In January, 78 sales were agreed. In December, there were 29; in November, 87; and in October, 89. There is a high level of activity in the local property market, and we expect the second quarter of 2023 to be as busy as usual. 

In October, we saw 13 price reductions across Larbert, Bonnybridge & Denny. There were 19 in November, 10 in December, and 16 in January. In February the number of price reductions fell to 5. When houses are priced properly, they sell quickly. Setting an unrealistically high asking price at the outset can delay your move by several months.

In February, there were 45 slow movers across Larbert, Bonnybridge & Denny. This means a property that has been on the market for 12 weeks or more. This could be due to the market returning to more normal levels but expectations still being at peak levels. In January there were 41; in December there were 30; in November there were 25; and in October there were 20.

Slow movers can often be due to the 3 Ps: presentation, promotion, or price. We are proud to be one of the top agents in the area with the smallest number of slow movers. Choosing the right agent for your property can make a very real difference in achieving your moving plans.

In October, each property in Larbert, Bonnybridge & Denny had an average of 159.9 daily views on Rightmove per property. In November, it fell to 145.1, and in December, it fell further to 108.8. This is typical for the last quarter of the year, with commitments over the festive period taking precedence over house hunting for many buyers. In January the average daily views on Rightmove per property sprang back up to 160.4  and in February increased further to 186.7 showing that activity levels in the local property market are at their highest in five months.

Average daily views per property on Rightmove for properties listed by Alexander Taylor were 270.2 in February, which was 44.7% higher than average. We are pleased to consistently deliver above-average results for our clients. It shows the difference your estate agent can make when it comes to attracting the right buyer to your property. 

If you’re looking for further information about the Larbert, Bonnybridge & Denny property markets, or if you’re thinking of selling or buying in the area, please don’t hesitate to get in touch. You can call 01324 811 233 or email info@alexander-taylor.co.uk.