Monthly Market Insight, February 2025
Local Market Snapshot – A Data-Driven View
Each month, we track key market indicators in our local area: the number of available properties, new instructions, sales agreed, and price reductions. This gives us valuable insight into how current trends might:
- Influence someone’s decision to list their home
- Impact pricing strategies and market values
- Affect how long it might take to sell
- Help determine whether to price conservatively or ambitiously
We also compare our local data with national trends and use a range of industry sources to provide context and deeper understanding.
📈 Available Properties
The number of available homes has now climbed to 1,530, one of the highest levels since early 2023. For buyers, this means more choice—great news if you’re looking for family homes for sale near Sherborne or exploring luxury properties in Somerset and Dorset.
However, for sellers, increased competition means longer time on the market and downward pressure on pricing. It’s essential to remember that you’re not just listing a property—you’re competing with others who may be more flexible, motivated, or willing to negotiate.
🏡 New Instructions
Traditionally, estate agents in Somerset and estate agents in Dorset see a flurry of new listings around Easter, as sellers wait for gardens to bloom and longer days to showcase their homes. This year has broken the mould—February saw 308 new instructions, well above 280 in 2024 and 207 in 2023.
This early activity may be linked to sellers hoping to beat the stamp duty deadline—but in truth, many may have already missed the window.
🤝 Sales Agreed
Sales activity remains healthy. February recorded 192 sales agreed, an increase from 162 in 2024 and 122 in 2023. While that’s encouraging, it must be seen in the context of rising stock levels—the proportion of homes selling is largely unchanged year-on-year, and actually slightly lower than in 2023.
🔻 Price Reductions
Despite hopes of a spring bounce, 11% of properties saw price reductions in February (168 homes), mirroring last year. Early-year reductions are typically rare, but with buyers cautious and more stock on the market, realistic pricing is proving essential—especially in a competitive landscape.
🧠 On the Ground Perspective
From our position as active estate agents in Sherborne and across the wider region, we’re hearing the same story at all levels of the market—from those seeking luxury properties in Dorset to first-time buyers looking for family homes near Bruton.
The pace of the market feels slow. Buyers are often stuck, unable to sell their current homes, while the properties they’re interested in linger on the market. The result? Stagnation.
Part of the issue is persistent overvaluation. Sometimes agents over promise to win instructions, then hesitate to advise price reductions. But with so much property for sale in Dorset and property for sale in Somerset, realism is key. A small adjustment in price could be the nudge that frees up the whole chain.
📊 Let’s Talk Strategy
If you’d like to explore what this means for your own move—whether you’re planning to sell a luxury home in Somerset, downsize in Dorset, or buy a family home near Sherborne—I’d love to help. Analyzing the numbers and crafting the right strategy is what I do best.
Let’s talk about what works for you, not just what’s happening in the headlines.
James Weston
GP Weston | Your local estate agents in Somerset and Dorset