Concerns in the housing market persist. According to Swedish Real Estate Statistics’ figures for November, prices for both condominiums and villas in the country fell during the past month.
Residential property prices fell by a total of 1 percent in the country as a whole. The decline was greatest in the Malmö region, where prices fell by 4 percent. In Gothenburg, the decline was 3 percent and in central Stockholm, prices fell by 1 percent. In Stockholm County, however, prices remained unchanged.
The villa market has also continued to have a tough time, according to the sales statistics.
In the country, house prices fell by 3 percent in November compared to the previous month. A detached house now has an average price of SEK 3,528,000. At the same time, prices have declined by 8 percent on an annual basis.
Approaching pre-pandemic levels
Of the metropolitan areas, Gothenburg and Malmö saw the sharpest decline. There, prices fell by 3 percent each in November, while the annual rate in both regions is -12 percent. In Stockholm, where the average price of a villa is now SEK 6,676,000, house prices fell by 2 percent in November, while the annual rate was measured at -10 percent.
– During the pandemic years 2020/21, prices increased sharply and for condominiums, the declines in 2022 have meant that prices approached the levels that prevailed before the pandemic. Villas are so far clearly above the levels that prevailed at the beginning of 2020, says Per-Arne Sandegren, head of analysis at Swedish Mäklarstatistik.
Since the peak eight months ago, prices at national level for condominiums have fallen by a total of 12 percent and for villas by 13 percent. In the holiday home market, prices are unchanged compared to the same month last year.
“Sellers and buyers are starting to meet”
However, the brokerage community sees tendencies towards buyers and sellers starting to meet in the new price picture.
– The economic unrest continued to affect the housing market in November. In the housing market, the difference between the starting price and the final price was negative at national level for the first time since December 2012. At the same time, we see that the supply is decreasing, an indication that sellers and buyers are starting to meet to a greater degree than before, says Jonas Rosén, CEO of Mäklarsamfundet, in a comment.