Spain’s Speedy Sales Surge: 21% of Homes Find Buyers in Less Than a Week

In November in Spain, a noteworthy 21 per cent of homes sold through had remarkably spent less than a week on the market, as revealed by idealista. 

Idealista, the prominent real estate marketplace in southern Europe, revealed the news in a recently released study made by the platform.

Another 10 per cent of homes were successfully sold within one to four weeks, while 23 per cent took one to three months to find buyers.

Additionally, 33 per cent had been on the market for three months to a year, and 13 per cent lingered for over a year.

The phenomenon of “express sales” is particularly prevalent in capital cities, notably in larger markets.

Seville leads the chart, with an impressive 35 per cent of homes finding buyers within a week, followed closely by Huesca (34 per cent), Teruel (32 per cent), Valencia (31 per cent), Madrid (30 per cent), Granada (28 per cent), Zaragoza (27 per cent), and Barcelona, Tarragona, and Girona (26 per cent in each of the three Catalan capitals).

Other cities following suit include Málaga (25 per cent), Huelva (24 per cent), Pamplona (22 per cent), Murcia (22 per cent), Lleida, Vitoria, Alicante, Almería, Cádiz, Córdoba, Palma, and Bilbao (each with 20 per cent of express sales among the eight capitals).

Conversely, the city of Melilla stands out as the location with the lowest percentage of express home sales at only 4 per cent, followed by Cuenca with 6 per cent. Further down the list are Palencia, Zamora, and Ciudad Real (each with 7 per cent), and Lugo (9 per cent), representing the only cities with a percentage below 10 per cent.

When examining provinces, Seville emerges as the leader with the highest percentage of “express sales,” accounting for 31 per cent of all homes registered on idealista in November.

Following closely are the provinces of Granada (30 per cent), Madrid (30 per cent), Zaragoza (27 per cent), Valencia (25 per cent), and Barcelona (24 per cent). Alicante and Navarra closely trail behind with 23 per cent in both cases.

Meanwhile, Málaga and Santa Cruz de Tenerife stand at 21 per cent in their respective markets, the Balearic Islands at 20 per cent, and Cádiz, Las Palmas, Álava, and Girona at 19 per cent in each province.

Three provinces share the lowest percentage of express sales: Lugo, Cuenca, and Palencia, where only 6 per cent of homes sold had been on the market for less than a week.

Following closely are Zamora and Ciudad Real (each with 7 per cent), Albacete (8 per cent), and Burgos (9 per cent).