Local Market Update
Berkhamsted Summer Market: What Homeowners Need to Know
If you’re thinking of selling your home in Berkhamsted, here’s some good news: buyers are still out there and snapping up the right properties. This summer has seen fewer homes coming up for sale than usual, which means less competition if you list your property now. In fact, July saw only around 50 new properties hit the market in our town – a small number for a busy place like Berkhamsted. With buyers hungry for new listings, your home (especially if it’s well-presented) could attract plenty of attention.
Prices in Berkhamsted are holding steady. The average sold price is roughly the same as it was this time last year. We’re not in a “boom,” but we’re certainly not in a bust either. Most sellers are achieving about 96-97% of their asking price, which shows that if you price your home realistically, you’re likely to get very close to the number you want. Overpricing, on the other hand, can lead to your home sitting on the market longer than it needs to – and you might end up having to reduce the price to tempt buyers. I always tell homeowners: the goal is to price right and sell once, not chase the market down with reductions.
How long will it take to sell? On average, Berkhamsted homes are finding buyers in about 9-10 weeks right now. That’s actually a bit faster than last year. Of course, “average” includes everything from the cottages that get snapped up in days (because they’re adorable and turnkey) to the outliers that linger for many months. If your home is presented well and priced competitively, you could be handing over keys sooner than you think. We recently had a property on Kings Road go under offer in just over two weeks because we set a fair price and marketed it to the right buyers. Meanwhile, a few other homes that started too high are still looking for buyers after three or four months. The lesson: the right price + the right presentation = a quicker sale.
Summer can be a slightly quieter time with families away on holiday, but serious buyers are always looking. I’ve been out doing viewings with folks who want to move by autumn, and they’re frustrated by the limited choice. If you’re ready to sell, now might actually be a smart moment – you could have a captive audience of buyers with fewer new listings to steal their attention. Come September, we expect a uptick in homes coming to market (that usual “back to school” surge), so taking advantage of the current low inventory might work in your favour.
Thinking of upsizing or downsizing? Keep an eye on those interest rates. They’re higher than they’ve been in recent years, which means buyers are a bit more price-sensitive. Affordability is key. Many buyers are shrewd these days; they have their mortgage agreements in principle and they know their max budget to the pound. They will pay a premium for the perfect home, but only if they feel it’s worth it. The flip side is, if your home needs a bit of TLC, be prepared to meet the market on price or invest in some improvements before listing. Sometimes a quick coat of paint, tidying up the garden, or fixing that leaky tap can add to your bottom line by preventing low offers.
In summary, Berkhamsted’s summer property market is quietly confident. Homes are selling at strong prices (nearly full asking in most cases) and buyers are keen, especially given the limited selection available. If you’re a homeowner pondering a sale, you haven’t “missed the boat.” The boat is very much still at the dock, perhaps just not racing full-steam like it was in the frenzy of 2021. And that’s okay! A stable, steady market can be a good market to make your move — you can sell for a fair price and also buy your next home without as much fierce competition as a couple of years ago.
What this means for you: If you’re planning to sell soon, focus on preparation and pricing. Spruce up what you can (first impressions are everything – a tidy frontage and a decluttered interior go a long way). Then let’s have a chat about the right price strategy: one that attracts buyers and achieves a great result without months of waiting. Berkhamsted buyers are discerning, but they’re also willing to act fast for a home that ticks the boxes. With fewer properties on the market, your home can really stand out. You might be pleasantly surprised by the level of interest we can drum up, even in the traditionally slower summer months.
Lastly, don’t be put off by talk of the wider economy. Yes, mortgage rates are higher, and yes, buyers are cautious – but life moves on, and people still need homes in our lovely area. We’re seeing relocators coming for the schools and green space, London commuters seeking more for their money, and locals looking for that next step on the ladder. There’s a buyer out there for your home. My job is to help them find it and fall in love with it. Whenever you’re ready, I’m here to guide you every step of the way, from “thinking about it” to “sold!”. Enjoy the rest of the summer, and as always, feel free to give me a shout with any questions about the Berkhamsted market or your specific plans.
Thinking of selling your Berkhamsted home?
Now is a great time to prepare. Let’s discuss the best approach to get you a fantastic result. Enjoy your summer, and I look forward to helping you whenever you’re ready to make a move!