Monthly Market Insight, March 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 properties for sale in Somerset and Dorset has surged to 1,745—the highest I’ve recorded since starting this research. That’s a stark contrast to 933 in March 2023 and 1,201 in 2024. This rise is being driven by the spring market finally gaining momentum, combined with a backlog of homes struggling to sell.
According to Rightmove, the average time to find a buyer in the South West is now 70 days—making it one of the slowest-moving regions. Only the East Midlands (71 days) and Wales (77 days) are slower. Compare that to 65 in London and 64 in the West Midlands, and it’s clear we’re in a more patient market here.
✍️ New Instructions
March brought with it sunshine—and a wave of activity. We saw 477 new instructions, the highest single-month (up from 348 in May 2023).
With only 220 sales agreed, the imbalance between supply and demand is growing, and more choice means buyers are taking their time.
🔑 Sales Agreed
Encouragingly, March saw the highest number of sales agreed since January 2023. But when you look at it in context—just 13% of available homes found a buyer—it paints a more cautious picture.
This suggests that while buyers are certainly out there, they’re selective. You need one of two things: either something truly special or the price has to be attractive.
📉 Price Reductions
It’s no surprise that we’ve seen a spike in price reductions. With some sellers entering the market in January or early February now adjusting expectations after 8–10 weeks of little movement. There were 209 price reductions in March, up significantly from 128 in 2024 and 114 in 2023. Still, that’s about 12% of the total stock, which suggests sellers are slowly recognizing the need for realism in pricing.
🗣️ On-the-Ground Insight
The feedback we’re hearing from fellow estate agents in Sherborne, and across the region, is consistent: the market is sluggish. It’s not just isolated to one location or one type of property—this applies across all price points.
I recently came across this article from a respected surveyor I used to work with, and it resonated:
The Worst Market in 30 Years? ~ The Expert Valuer
“A number of well-respected agents have told me in the last few months they believe it is the worst market in over 30 years. The only properties which are selling are with the right agent at the right price and there are very few agents who have the expertise to ‘make the weather’. Part of the problem is in the last few years the agency world has become fragmented, with many of the best agents leaving the big established firms and they have taken their clients with them.
Many years ago when I joined the house sales team of a certain blue chip partnership I was told they never normally recruit anyone under 30 and certainly never anyone from certain high street agents. Since then almost all the old school agents have disappeared to be replaced by young whipper snappers whose trousers tend to be as short as their manicured facial hair. This means many of the big firms have hardly anyone who remembers the doldrums of the early 90s or even the credit crunch of 2007/2009. This is a market where experience is vital and ‘grey hair’ is needed to navigate a shallow and very difficult market.”
The truth is, the agency landscape has changed dramatically in recent years. Many of the most experienced agents have left the larger firms, taking their loyal clients with them. Meanwhile, much of the newer generation hasn’t yet weathered a tough market like this.
💬 Let’s Talk Strategy
We know it can be disheartening when things don’t move quickly—but rest assured, it’s not just you. This is a broader, national issue. That said, smart decisions and the right team can make all the difference. If you’d like to explore the numbers more deeply, review your property strategy, or discuss when and how to make your move, I’d love to help. After all, when it comes to property, the numbers really do matter.
James Weston
GP Weston
Your expert Estate Agents in Somerset and Dorset