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Express sales: 21% of homes stay less than 7 days on the market

In Coimbra, 35% of the houses are sold in less than 7 days, says idealist. In the Guard no house was sold so fast.

Friday, 20 January 2023 - Algarve

Article translated by Google:

Despite high inflation and rising interest rates on housing credit, demand for homes to buy in Portugal remains much higher than the existing supply. And this is reflected in the time that homes for sale are on the market: about 21% of homes purchased in December were advertised less than a week. Already 15% was in the market between two weeks and one month, 21% between one and three months, 34% between three months and one year and 9% more than a year, shows a study published by idealist, the Real Estate Marketplace of Southern Europe.

Analyzing the "express sales" of houses - that is, residential properties that sell in less than a week, taking into account the length of stay of the ads - by district capitals, it is in Coimbra that we find a higher percentage, 35% of the houses are sold in that period. This is followed by Vila Real (27%), Évora (27%), Porto (23%) and Funchal (21%). Below the national average are Aveiro (19%), Setúbal (18%), Braga (18%), Leiria (18%), Faro (16%), Viana do Castelo (12%), Lisbon (12%), Beja (12%), Santarém (11%), Viseu (10%) and Castelo Branco (8%).

The district capitals where there were fewer "express sales" of houses were Ponta Delgada, Portalegre and Bragança, where only 7% of the transactions took place in less than seven days in December. In the Guard, no house was sold during this period.

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About 29% of homes in porto district are sold in less than a week

In relation to districts, the market behaves differently. It was in the district of Porto (29%) where more houses were sold in less than a week during the month of December last year. The island of Santa Maria (20%), Madeira Island (19%), Coimbra (18%), Aveiro (18%), Setúbal (17%), Lisbon (14%), Guarda (14%), Faro (14%), Braga (14%), Santarém (14%), Évora (13%), Leiria (12%), Vila Real (12%), Castelo Branco (11%) and Bragança (10%) are followed.

On the other hand, it is in Portalegre where this percentage of fast sales of houses is lower – only 5% Follow Beja (7%), Viana do Castelo (9%) and Viseu (9%).

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*News updated on January 17, at 13:00, with the correction of the rounding to tenths of the percentage of houses in Portugal that was on the market between three months and one year.

 

Source: https://www.idealista.pt/news/imobiliario/habitacao/2023/01/17/56326-vendas-expresso-21-das-casas-fica-menos-de-7-dias-no-mercado

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