Stijgende prijzen in de woningmarkt

More, faster, higher: housing market in overdrive

In the second quarter of 2024, the owner-occupied housing market gained considerable momentum: more buyers bought homes faster at higher prices. That’s according to the latest housing market figures from NVM (nationwide) and MVA (Amsterdam). What are the exact numbers and what do they mean for buyers and sellers?

How many more houses were sold?

NVM brokers sold more than 35,000 existing homes for sale in the Netherlands in the second quarter. This is up 18% from the first quarter of 2024 and 3% from the second quarter of 2023.

How much did housing prices increase?

In the second quarter, the median sales price of an existing home was 468,000 euros. Compared to the first quarter, the price thus rose 7.2%, a rapid increase that has occurred only once before in 29 years (in 1995). The median sales price increased 13.6% compared with the second quarter of 2023.

How does this vary by property type?

The price of a terraced house increased by 7.2% on a quarterly basis to 430,000 euros, a corner house by 6% to 450,000 euros, a semi-detached house by 8.6% to 508,000 euros, a detached house by 5.2% to 660,000 euros, and an apartment by 8.1% to 393,000 euros.

How often and how much were they outbid?

In the second quarter, two in three homes nationwide were sold above asking price. The figure was 56% a quarter earlier and 39% a year earlier. In the second quarter, the final sales price averaged 4.3% above the asking price. In the first quarter, the final sales price was still 2% higher than the asking price, and a year ago the sales price was 0.5% below the asking price.

How quickly was a property sold?

In the second quarter, a home was sold after an average of 27 days. That is 7 days shorter than in the first quarter and also 7 days shorter than a year earlier.

What about newly built homes?

NVM brokers sold more than 7,300 new homes in the second quarter, up 1% from a quarter earlier and 70% more than in the second quarter of 2023. The median sales price of a new home in the second quarter of 2024 was 475,000 euros, 1.2% lower than in the first quarter.

What about the housing markt in Amsterdam?

The number of homes offered by MVA brokers in Amsterdam rose 56.2% in the second quarter from a quarter earlier, to 1,998 homes. The median transaction price was over 612,000 euros, up 9.8% from the first quarter. This transaction price is the highest in the past seven years.

In the second quarter, an average of 8.2% more than the asking price was paid for a house in Amsterdam, compared with 5.4% in the first quarter. Of the total homes sold in the second quarter, 79.9% were sold above the asking price. The previous quarter it was 73.4%, and a year earlier 57.2%.

What does this mean for home seekers (buyers)?

Despite there being more movement in the Amsterdam housing market than in the first quarter, potential buyers are not getting in easier. The tightness indicator rose from 2.4 to 2.7 last quarter. That’s the same level as a year ago. For a balanced housing market with sufficient choice, the tightness indicator should be between 5 and 10.

Unfortunately for home seekers, prices are flying up due to the tight market, good finance, income increases and thus consumer confidence. So it is and will remain very difficult to buy a home. There are no signs that the housing market is going to cool down in the short term.

What does this mean for salespeople?

In 2022, steady house price increases were interrupted for the first time in years. Figures from the second quarter of 2024 show that this interruption is now really long and wide behind us and even catching up. So for sellers, now is a more favorable time to sell than the quarters before. However, a seller is often also a buyer and thus will be just as likely to face the higher asking prices in the search for a new home. There is no real advantage in that case.

What can we do for buyers and sellers?

Are you looking to buy or sell a home in Amsterdam or the Greater Amsterdam area? Then you’ve come to the right place with our experienced team of real estate agents. We are part of the global ERA network and are members of the NVM and the MVA. This combination offers numerous benefits for you as a buyer or seller. In this article, we’ll explain how these three organizations complement each other and how our experienced real estate agents turn this into the best outcome for you.

Would you like more information? Please feel free to contactus for a free consultation.

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