Selling homes quickly:19% of listings on the market are sold in less than7 days..

Home sales in Portugal slowed down in 2023 due to high housing prices, elevated mortgage interest rates, and decreased purchasing power caused by inflation. While there are homes on the market that do not meet the budgets and needs of families, there are also other residential properties that better align with modern demand and therefore sell faster. This may explain why about 19% of homes listed for sale in November were sold in less than a week on idealista. 11% of residential properties were on the market for two weeks to a month, 25% for one to three months, 37% for three months to a year, and 8% for more than a year, according to a study published by idealista, a marketplace in Southern Europe.

When analyzing the capital of the region for "express sales" - that is, residential properties sold within a week, taking into account the time of listing - it is clear that Braga has the largest share: 26% of homes sell quickly. It is followed by Bragança (22%), Aveiro (21%), Funchal (19%), and Coimbra (19%). Below the national average are Porto (17%), Viseu (16%), Guarda (15%), Ponta Delgada (15%), Lisbon (13%), Faro (12%), Setúbal (12%), Évora (12%), Santarém (9%), and Leiria (9%).

The capital of the region with the lowest number of "express sales" of homes was Castelo Branco (6%). In Beja, Vila Real, and Viana do Castelo, only 7% of home sales occurred within seven days in November.

In the regions, the housing market operates differently. The highest number of homes was sold in Porto (28%) during the week in November. This was followed by Évora (26%), São Miguel Island (22%), Aveiro (21%), Madeira Island (19%), Braga (17%), Lisbon (17%), Bragança (16%), Coimbra (15%), Faro (14%), Santarém (14%), Setúbal (14%), Viseu (14%), Guarda (10%), and Leiria (10%).

On the other hand, Viana do Castelo and Castelo Branco have the lowest share of homes sold in less than 7 days - only 7%. They are followed by Vila Real and Beja (also at 8% in both regions). Once again, in Portalegre, no homes were sold in less than a week.