Portugal real estate market | Algarve Homes: 33% Sold in Under a Week

The Portugal real estate market is heating up, with 33% of Algarve homes selling in under a week. Discover the latest trends and insights.

In September, a noteworthy 10% of residential properties listed on Idealista vanished from the market in a remarkably swift manner—less than a week, to be precise. The data reveals a fascinating distribution of sales durations: 18% of homes lingered between one week and one month, while 26% found themselves on the market for a span of one to three months. A significant 37% remained unsold for a period ranging from three months to a year, and a mere 8% endured the market's trials for over a year, as per the analysis conducted by Idealista.

Delving into the urban landscape, Évora emerges as a standout, boasting an impressive 22% of homes sold in under seven days. Coimbra and Funchal follow suit with 16% and 14%, respectively, while both Santarém and Porto share a commendable 10%. In stark contrast, several cities fall below the national average, including Setúbal, Guarda, Braga, Castelo Branco, Leiria, Bragança, Lisbon, and Aveiro, all hovering around the 7-8% mark.

The analysis further highlights the district capitals where "express sales" were notably scarce. Viana do Castelo and Viseu recorded a mere 3% of transactions completed in less than a week, while Beja managed a slightly better 5%. This intriguing data paints a vivid picture of the real estate landscape, revealing not only the dynamics of property sales but also the varying paces at which different regions engage with the Portugal real estate market.