A study by Idealista shows that 14% of homes sold in the second quarter of 2024 were on the market for less than a week. This marks a slight increase from 13% during the same period last year. The study highlights trends in how quickly homes are selling across different regions and cities in Spain.

Breakdown of Sales Speed Across the Market

The study reveals that beyond the 14% of homes sold in less than a week, 22% took between one week and one month to sell. Another 24% found buyers within one to three months, while 28% were on the market for three months to a year. Lastly, 12% of the homes took more than a year to sell.

These figures indicate a diverse range of selling times, showing that 60 % of homes sold in under 3 months.

Capitals with the Highest ‘Express Sales’

In major cities, particularly in larger markets, express sales (homes sold in less than a week) are more common. Granada leads with 21% of homes selling in under a week. Pamplona follows closely with 20%, and Valencia and Jaén both stand at 18%. Barcelona, Santander, and Madrid all have a 17% rate of express sales.

On the opposite end, Soria recorded no express sales, making it the capital with the slowest sales pace. Ciudad Real saw only 3% of homes sell within a week, and Ceuta, Melilla, and Tarragona each recorded just 5%.

Year-on-Year Changes in Sales Speed

In 20 capitals, the rate of express sales has decreased compared to last year. Soria saw the most significant drop, plummeting from 24% in the second quarter of 2023 to 0% in 2024. Huesca, Girona, and Tarragona also experienced notable declines.

However, some cities saw an increase in rapid sales. Jaén experienced the most substantial growth, with express sales jumping from 9% to 18%. Segovia also saw a rise, from 7% to 14%. Among the larger markets, Barcelona, Alicante, and Santa Cruz de Tenerife all saw modest increases in express sales.

Granada Leads in Express Sales Across Provinces

Granada not only leads among capitals but also tops the list of provinces with the highest percentage of express sales. In the second quarter of 2024, 20% of homes in Granada sold in less than a week. Alicante followed with 19%, and Madrid with 17%. Navarra, Valencia, and Málaga each had 16% of homes selling within a week.

Conversely, Ciudad Real had the lowest rate of express sales among provinces, with only 4% of homes selling quickly. Other provinces with low express sale rates include Ourense (6%), and Ávila, Tarragona, Lugo, Zamora, and Lleida, each with 7%.

Final Thoughts

Spain’s real estate market is buzzing with activity, offering a dynamic range of opportunities for both buyers and sellers. The rise in fast home sales, especially in key regions, highlights the strong demand and appeal of properties across the country. Whether you’re looking to buy or sell, the current market trends indicate a healthy and vibrant environment, where homes are moving quickly and efficiently. With these insights, you can navigate the Spanish real estate market with confidence, knowing that opportunities are ripe for those ready to make a move.

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