The price of used homes for sale rises in February and continues to approach its record.

The price of used housing in Spain has registered an increase of 0.4% during the month of February, standing at 2,056 euros/m2, according to the latest price index. This figure is 7.2% higher than that of the same month last year while it is 2.8% below the historical maximum price of housing in Spain, recorded in June 2007.

13 Spanish Autonomous Communities show prices higher than last month. The Canary Islands (1.5%) lead the increases, followed by the Community of Madrid (1.4%), the Region of Murcia (1.1%), the Balearic Islands (1%). Below 1% are the increases in Comunitat Valenciana (0.5%), and Andalucía (0.1).

The Balearic Islands with 4,191 euros/m2 is the most expensive autonomy followed by the Community of Madrid (3,292 euros/m2). They are followed by Euskadi (2,883 euros/m2), the Canary Islands (2,501 euros/m2) and Catalonia (2,338 euros/m2).

The Balearic Islands reaffirms itself as the most expensive province to purchase a home

Up to 33 provinces have prices higher than those registered in the previous month. The Balearic Islands are reaffirmed as the most expensive province to purchase a home (4,191 euros/m2) ahead of Guipúzcoa (3,523 euros/m2). They are followed by Madrid (3,292 euros/m2), Málaga (3,113 euros/m2), Vizcaya (2,768 euros/m2) and Barcelona (2,644 euros/m2).

The supply of homes for sale has decreased by 8%

The supply of homes for sale on the market has decreased by 8% year-on-year during the fourth quarter of 2023, according to the latest study. This loss of stock has been accentuated in the final stretch of the year, with a four-point drop compared to September. Most capitals now have fewer homes for sale than there were a year ago, with Barcelona (-14%), Palma and Valencia (both with -17%) exceeding the national average, while Málaga (-8%), decrease somewhat less.

The majority of Spanish provincial capitals now have fewer homes for sale than there were a year ago.

65% of homes for sale in Spain have a price of less than 150,000 euros

More than six out of every 10 homes for sale in the fourth quarter of 2023 had a starting price of less than 150,000 euros. Of these houses on the market, 76% of them were apartments, while the remaining 24% were single-family homes. The provinces of Alicante (9.4%), Valencia (7.1%) and Murcia (6.2%) concentrated the majority of this cheaper offer in Spain, ahead of the main markets such as Barcelona (5.8% ) or Madrid (3.8%).

Furthermore, the vast majority of them are in good condition (according to the sellers), since only 15% declare that a renovation is necessary. Furthermore, regarding the number of rooms offered by these homes, the majority (44%) have three rooms, followed by two-bedrooms (27%), four-bedrooms (17%), one-bedroom apartments ( 9%) and studies (2%).