If you were to walk down the high street in Shenfield or pop into the local shop in Stondon Massey today, you’d probably hear the same thing: "House prices only ever go up, don't they, Peter?" But here is a question that might surprise you: if properties are valued at hundreds of thousands of pounds, why do we see so many "For Sale" signs remaining visible around CM15?
The truth is, the numbers on a page often hide the real human stories. While we’ve seen some eye-watering sales recently—like a stunning home on Crescent Drive in Shenfield going for over £2.5 million, or a beautiful spot in Stondon Massey fetching nearly £3 million—these big figures don't tell you the full story of the current balance between buyers and sellers in our corner of Essex.
The "High Choice" Market At the moment, CM15 is what we call a "Buyer’s Market." Imagine you’re at a school bake sale at the end of the day. There are still plenty of delicious cakes left on the table, but there are more cakes available than there are parents looking to buy them. This means the people looking to buy a home have a lot of power. They can benefit from the significant housing supply, look at a few different gardens, and they aren't facing the same pressure to outbid someone else immediately.
Understanding the Supply Balance The most important metric I look at is the ratio of available stock to the number of successful transactions. It sounds like a mouthful, but it’s actually quite simple. It measures the depth of choice for buyers relative to the current level of market activity.
Right now, the stock levels in CM15 are high. To put that in perspective, in a market where there is very little choice for buyers, we usually see a much tighter ratio of available homes to successful sales. We are currently seeing a significant surplus of properties currently for sale, and interestingly, this balance hasn't budged since last month. Despite the total number of homes on the market decreasing slightly (we’ve gone from 281 down to 266 properties available), the level of competition for sellers stayed exactly the same.
A Game of Musical Chairs In CM15, from the leafy lanes of Kelvedon Hatch to the bustling avenues of Shenfield, we have 266 homes looking for new owners. However, the current market activity shows that about 18 homes are finding buyers every month.
Did you know that only about 7% of the total housing supply in our area actually switches hands each month? It’s a bit like a game of musical chairs where there are more chairs than people playing. For buyers, this is lovely news because you have 266 choices! You don’t have to settle for a kitchen you don't like or a garden that’s too small because the stock levels are so healthy.
What does this mean for you? If you are selling a home in CM15 right now, you need to be mindful of the competition for sellers. Because there is so much choice for buyers, your home needs to look its absolute best and be priced very sensibly. It’s not a time for "testing the market" with a high price; it’s a time for being realistic so your property stands out amongst the high volume of other homes available.
If you are buying, you are in the driving seat. You have the luxury of extensive choice to find the perfect spot near the Ongar Road or tucked away in a quiet Shenfield cul-de-sac. You can negotiate, ask questions, and really make sure the move is right for your family.
And if you’re just staying put? Don’t worry. While the market activity is steady rather than frantic, people are still paying good money for the right homes. The average price people are actually paying in CM15 over the last year is £558,428. Your home is still a fantastic nest egg; it’s just that the current housing supply gives buyers plenty of room to breathe this summer!