If you’re a homeowner in Medway thinking
about selling, brace yourself for a bit of uncomfortable truth.
There is a growing gap in our area between what
Medway home sellers want and
what buyers are actually willing to
pay. And the evidence for this is laid out, month after month, in
cold, hard numbers.
Since the summer of 2020, we’ve been tracking
two key numbers: the average asking price of homes coming to market
in Medway, and the average sale price of homes that exchanged and
completed. The results are striking and eye-opening.
In 2025 so far, the average asking price of the
homes coming onto the market in Medway has been £341,600.
But the average price of a Medway home that’s actually sold and
completed is £331,700.
That’s a 3.0% difference.
And no, this isn’t about a property crash or
Medway sellers taking a 3% or more hit on their asking prices. This
is about what sells versus what
sits on the market.
It’s
Not That Medway House Prices Are Falling. It’s That High-Priced
Medway Homes Don’t Sell as Well
Let’s be very clear. This 3.0% gap doesn’t
mean house prices have dropped by 3.0%. It simply shows that Medway
homes at the higher end of the market are much less likely to sell.
They get listed, they linger, and they often withdraw unsold.
Meanwhile, lower-priced Medway homes tend to fly off the shelf.
It’s a classic case of saleability
versus ambition.
In
2020, the gap between average asking and average sale price in Medway
was 1.7%
(£298,600 asking vs £293,600 selling).
By 2021, that fell to just 1.0%.
Rose to 7.3% in
2022, fell to 4.7% in
2023, rose again to 6.9% in
2024, and now we’re at 3.0% in
2025.
(Medway is ME1-5, ME7-8).
So, what’s going on?
Higher
Price Brackets in Medway Have Lower Odds of Selling
It’s a simple truth: the higher up the price
range you go, the harder it is to get a deal done.
That doesn’t mean the more expensive Medway
homes won’t sell.
But it does mean your pricing and presentation must be spot
on for it to sell.
Wishful thinking won’t cut it.
The average asking price of property that has
come on the market in Medway in the last five years has been
£321,900.
-
For all the Medway homes that have come onto
the market below £321,900 in the last 5 years, they have had a
54.6% chance of selling and homeowners moving.
-
For all the Medway homes that have come onto
the market above £321,900 in the last 5 years, they have had a
47.3% chance of selling and homeowners moving.
Realistic
Pricing Matters
Here’s another stat Medway home sellers need
to understand.
Homes that agree a sale within
25 days of coming onto the
market have a 94% chance
of subsequently exchanging contracts and completing (i.e.
the homeowner moves). Yet, for homes
that sit for 100 days or more
before a sale is agreed, the odds of
the homeowner moving drop to just
56%.
In other words, if you get the price right from
day one, you are far more likely to secure a solid buyer and sail
through to completion. But if your home languishes on the portals for
months, you are not only likely to have to reduce, if you do indeed
manage to agree a sale on it, your odds are only slightly better than
a flip of a coin.
What
This Means for Medway Homeowners
If you’re thinking of putting your home on
the market this year, here’s the uncomfortable but helpful advice:
-
Don’t just look at what homes are being
listed for. Look at what’s
selling —
and selling within a month or two. -
Be
honest about your timeframe. If
you want to move soon, pricing realistically from day one will give
you a better shot. -
Higher-value
homes must work harder. Presentation,
photography, pricing, and agent skill all matter more than ever when
your Medway home sits in the upper price bands.
The
Bottom Line for Medway Homeowners
Many homes listed in Medway this
year won’t sell.
Not because they are bad homes. Not because the
market is broken. But because many sellers and yes, some estate
agents, are still pricing for the market they wish they had, rather
than the market we do have.
If your Medway home is priced at the top of its
range, you must demand an agent who can justify every pound, back it
up with real buyer insights, and be honest with you from the start.
Otherwise, you risk becoming part of the Medway
homeowners that don’t sell, as opposed to the Medway homeowners
that move to the next chapter of their life.