Express sales: 27% of homes are on the market for less than 7 days

The current economic context, marked by high inflation and rising interest rates on home loans, has slowed down the sale of homes in Portugal – that´s for sure. But the demand for houses continues to be much higher than the supply available on the market. And there are certain types of housing that are more sought after than others, and are therefore sold faster. The data show just that: around 27% of the houses bought in June were advertised on idealista in less than a week. Already 12% were on the market between a week and a month, 31% between one and three months, 24% between three months and a year and 6% more than a year, shows a study published by idealista, the Real Estate Marketplace of the South of Europe.
Analyzing the express sales of houses - that is, residential properties that are sold in less than a week, taking into account the length of time the ads remain - by district capital, it is in Faro that we find a higher percentage: 52% of houses are sold during this period. This is followed by Porto (39%), Aveiro (37%), Leiria (36%), Coimbra (35%), Santarém (33%), Castelo Branco (30%) and Beja (28%). Below the national average are Setúbal (24%), Braga (23%), Funchal (21%), Lisbon (20%) and Ponta Delgada (20%).
The district capitals where the least express house sales were recorded – that is, where fewer transactions were observed in June in a period of less than seven days - were Viseu (12%), Bragança (14%), Évora (16%) and Viana of the Castle (19%).
In which districts and islands do houses sell the most quickly?
In relation to the districts, the residential market behaves differently. It was in the district of Porto (42%) that there were more houses sold in less than a week during the month of June this year. Coimbra (38%), Viana do Castelo (34%), Aveiro (30%), Castelo Branco (28%), Beja (28%), Faro (25%), Leiria (23%), Santarém ( 23%), Madeira Island (22%), Lisbon (20%), Setúbal (20%) and São Miguel Island (19%).
On the other hand, it is in the district of Bragança where the least number of houses are sold quickly – only 9%. Viseu (12%), Évora (15%) and Braga (17%) follow, shows the same study.

Source: Idealist