One of the most frequently asked questions we receive from property owners is: “How soon can I sell my property?” The answer to this question depends on several factors, such as the price and type of property, among other secondary aspects. In general, a period of six months is considered a reasonable limit to evaluate the response of the market to the sale offer. During this time, the number of visits from real interested parties, the offers received and the interest of the general public are analyzed. The market always shows us the truth, although sometimes it can be difficult to accept. In this blog, we will provide updated statistics until July 2023 to have a more accurate view and based on real numbers. One of the reference portals for analyzing the market is Idealista. According to a study published by this real estate marketplace in southern Europe, 12% of the homes that were sold in the month of June were on the market for less than a week. Another 10% sold within a week to a month, while 22% of properties took between one and three months to sell. 34% were on the market between three months and a year, and the remaining 21% took more than a year to sell. In the capitals, quick sales are more common, especially in large markets. For example, in Granada, 21% of the properties found a buyer in less than seven days. They are followed by Malaga (20%), Valencia (20%), Madrid (19%), Barcelona (18%) and Seville (18%). There are cities that present a percentage of quick sales above the national average. Among them are Huesca (17%), Cádiz (16%), San Sebastián (15%), Las Palmas de Gran Canaria (15%) and Cuenca (14%). With 13% quick sales are Zaragoza, Huelva, Soria, Jaén, Vitoria and Girona. Santa Cruz de Tenerife, Castellón de la Plana, Córdoba and Tarragona have a percentage of quick sales in line with the national average (12%). On the other hand, cities such as Zamora, Lugo, Ciudad Real, Melilla and Ceuta present a percentage of quick sales of 4%. They are followed by Ourense (5%), Palencia (5%) and Albacete (6%). Logroño, Cáceres, Segovia, León and Oviedo have 7% of the fast market, while Burgos and Ávila have 8%. Lleida, A Coruña, Salamanca and Badajoz have a percentage of 9% in all cases.
It is interesting to note that in large cities like Barcelona, more than 50% of the properties were sold in the first 3 months, and less than 20% took more than a year to sell. In Mallorca, an island with a special attraction both for foreigners with high purchasing power and for locals looking for properties with prices below 500,000 euros and that require reforms, the average sale takes around 10 months, and 80% of the houses are sold before 12 months. The real estate market in Spain proves to be active and remains attractive until June 2023. It is important to have prior advice when selling a property to establish a sales strategy and adequate timing, considering factors such as price, location, state of conservation and the profile of the potential buyer, among other variables. At InversionesBCN Real Estate Boutique, we can provide you with advice and support in the sale of your properties in Catalonia and Mallorca, thanks to our offices in Barcelona and Manacor.