In today’s Leicester housing market, property market data isn’t just helpful – it’s essential. For Leicester homeowners and landlords looking to buy or sell a home, understanding the latest Leicester property trends, buyer behaviour, or house pricing movements is the difference between making a confident move and flying blind.
Data reveals where the market has been, where it’s heading, and how to position a home for success. It cuts through the noise, replaces guesswork with insight, and empowers better decisions. When used well, property data also becomes a seller’s compass and, subsequently, as a buyer, the edge as well – guiding your strategy, pricing, and timing in a property market that’s constantly shifting. In short, those who understand the data of the Leicester property market (and the UK as a whole) move smarter. And those who ignore it risk being left behind.
The property market in Leicester has seen a notable transformation in recent years.
Each week in my blog posts, I use data to share my thoughts about the Leicester property market. This week I am going to look at the number of Leicester homes for sale on a month-by-month basis and then compare that with the volume of sales agreed (sold subject to contract—SSTC) on a month-by-month basis between January 2020 and March 2025.
From that information, I can show the direction of the local property market by calculating the percentage of Leicester homes each month that have been selling.
Since January 2020, an average of 18.8% of Leicester homes
on the market have sold STC each month
For some comparison, the lowest month since 2020, as expected, was the first month of lockdown, April 2020, when it was 5%. The highest month was April 2022, when it was 31.2%. In March 2025, that figure was 16.2%.
A closer look at this data reveals how the market has shifted and underlines the importance of sensible pricing—particularly now that the supply of homes has increased significantly since Easter 2022.
- In 2020, Leicester had an average of 3,890 homes for sale, with 747 selling STC each month. That means 19.2% of Leicester homes on the market found a buyer each month.
- In 2021, Leicester had an average of 3,245 homes for sale, with 833 selling STC each month. That means 25.7% of Leicester homes on the market found a buyer each month.
- In 2022, Leicester had an average of 3,161 homes for sale, with 713 selling STC each month. That means 22.6% of Leicester homes on the market found a buyer each month.
- In 2023, Leicester had an average of 4,472 homes for sale, with 580 selling STC each month. That means 13.0% of Leicester homes on the market found a buyer each month.
- In 2024, Leicester had an average of 5,083 homes for sale, with 742 selling STC each month. That means 14.6% of Leicester homes on the market found a buyer each month.
- In Q1 2025, Leicester had an average of 5,005 homes for sale, with 770 selling STC each month. That means 15.4% of Leicester homes on the market found a buyer each month.
The Evolution of the Leicester Market (2020–2025)
Between January 2020 and February 2020, the Leicester property market (covering LE1-9, LE19) experienced relative stability. Things changed dramatically with the arrival of COVID-19 in March 2020. The uncertainty led to a sharp drop in home sales during April and May of that year, as many buyers hesitated amid the economic upheaval.
However, following the lifting of the property market lockdown in May/June 2020, activity rebounded. The number of homes coming onto the market increased, as did the number of Leicester homes selling.
This period was marked by strong demand despite reduced stock levels. The rush was fuelled by demand and the government’s stamp duty holiday, encouraging people to move.
As 2022 began, the market began returning to a more typical state. The number of homes coming onto the market increased, yet the number of Leicester homes selling started to stabilise. This meant the number of homes for sale in Leicester started to increase in 2022.
Then came two significant setbacks between late 2022 and early 2023.
Budget Fallout and Rising Interest Rates
The first blow came in autumn 2022 with the Truss government’s mini-budget, severely impacting buyer confidence. Over the months that followed, Leicester’s average monthly sales fell. A recovery was underway by spring 2023, with sales rising. But this was short-lived—as interest rates climbed during summer 2023, buyer activity dipped once again, and sales fell.
The number of homes for sale continued to rise in 2024
In the early part of 2024, monthly house sales in Leicester were quite healthy, yet the number of homes for sale was increasing. This jump in supply was due to several factors: sellers trying to cash in on still elevated house prices, a spike in new build activity, landlords selling up because section 24 taxation rules were beginning to bite, or simply more homes returning to the market after failing to sell previously.
Leicester in Context: Comparing Proportions to the UK
A second graph, with a dark background, offers further insights by looking at the percentage of homes sold each month as a share of the total available stock.
The yellow line tracks Leicester’s performance, while the red line shows the UK-wide equivalent.
From Easter 2020 through to early 2022, Leicester saw a surge in the percentage of available homes going under offer, often hitting the mid-high 20% and low 30% ranges. This supports the earlier data, showing that even though fewer homes were listed, those on the market were snapped up quickly.
Since 2022, that picture has changed. The proportion of homes selling compared to those available has declined steadily in Leicester, now in its mid-teens.
What Does This Mean for Leicester People Looking to Move?
While buyer demand remains steady, the rise in available properties means there is a greater supply of homes to buy. Leicester buyers have more choice.
For Leicester homeowners looking to sell, this means competition is more intense than in previous years. Although buyers are still active, the sheer volume of homes on the market means sellers must be more strategic. A realistic asking price is now more important than ever.
An overpriced home risks being overlooked and left on the market. A well-priced property, on the other hand, stands a better chance of attracting attention and swiftly securing a buyer.
There’s also a practical reason to price sensibly. According to research by Denton House using TwentyEA data, if a property sells within 25 days of coming to market, there’s a 94% chance it will go on to complete. However, if it takes more than 100 days to agree on a sale, that figure drops to 56%, with a 44% chance of it falling through.
Leicester’s housing market remains active, but sellers face a new reality: the number of available homes has increased since mid-2022. To achieve a successful move, they must be attuned to the market and price their homes realistically.
Understanding local supply and demand – and adjusting expectations accordingly – is now critical. With more choices available to buyers, strategic pricing will separate the homes that sell from those that don’t.
If you want more data on the Leicester property market, follow us on social media for weekly updates on our local property market.
If you would like an informal, no-cost, and no-obligation chat about the Leicester property market, whether you are a buyer or seller, feel free to drop us a line, send a message on social media or reach out to us by telephone – 0116 274 5544
