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You can find the most recent market figures here:
Last modified: July 2019
Two weeks ago, the trade association NVM announced the housing market figures for the months of April, May, and June. For that reason, we pause to consider what these figures specifically mean for homeowners who are considering selling their house.
House prices
House prices refer to the actual selling price of a home, and not the asking price you see on Funda. According to the NVM, house prices have risen less sharply in the past quarter.
Prices are still rising, but not as sharply as in the previous period. In the past quarter, the average selling price was 7.4% higher than in the same months in 2018. The average selling price in the months of April, May, and June was 308,000 euros.
The NVM distinguishes between different types of homes for price increases. The selling price of apartments has increased by more than 10% per year over the past 2.5 years. This quarter, it was 8.6% for the first time.
The price of an average apartment is almost the same as the price of an average terraced house. On average, only 1% more is paid for an apartment than for a terraced house. Detached houses have risen in price the least, namely by 6.3%.
Asking price compared to the actual selling price
For apartments, on average 2% more is paid than is asked for the house. For terraced houses, on average 1% more is paid than the asking price. To put it in perspective: five years ago, it was a completely different story. Then, 4% less was paid for a house than the asking price. For a house of 350,000 euros, that is about 14,000 euros.
Number of houses sold
The number of houses sold has increased by 1.8% in the past three months. That doesn't sound like much, but it is the first time in 2 years that the number of houses sold has increased at all.
However, the increase does not apply todetached houses. These have been sold 0.9% less than last year.
Local outliers in the number of houses sold
Average selling time
The average time a house is on the market is 38 days. Last year, it was 5 days longer in the same period. Houses are now being sold faster than last year.
For clarity: this concerns the houses that were sold in the last quarter. There are, of course, also houses that have been on the market for some time but have not yet been sold. Those houses have already been on sale for an average of 122 days. 19% of the houses currently for sale have been on the market for more than a year.
Supply of houses
If you are considering putting your house up for sale, it is important to know how many competing houses are being put up for sale by other owners. In the Netherlands, the number of houses for sale is 9% less than the year before.
There were fewer houses for sale in April, May, and June than in the same months in 2018. It becomes more interesting if we do not look at the Netherlands as a whole, but at different areas.
How many houses are for sale is determined by how many new houses are put up for sale and how many houses leave the market because they are, for example, sold.
So to understand the above figures well, we must look at where the change comes from. The interesting thing is that more than 9% more houses have been put up for sale. In the past quarter, 44,000 houses were put up for sale.
This increase, by the way, does not apply to houses under 200,000 euros. Again this quarter, fewer of these houses are coming on the market. An owner who wants to sell their house under 200,000 euros therefore has little competition from other sellers.
What does this mean for your selling plans?
NVM real estate agents mention various reasons why more owners are now putting their homes up for sale. Some think it is due to the completion of new-build homes, which results in owners selling their existing homes. Another reason mentioned is that owners are responding to all the reporting that the housing market is at its peak. Then this would be the best time to sell.
The future, of course, cannot be predicted. One of the scenarios is that, because owners think this is the peak, this actually happens. It works like this: Owners read the reports about prices rising less sharply. These owners then decide not to postpone their moving plans any longer and put their house on the market.
If enough owners do this, the supply of homes will grow so much that prices will no longer rise or even drop slightly. Then this news gives other owners a reason to quickly put their house on the market too. Then the snowball starts rolling, and the idea that the market is at its peak suddenly becomes reality.
Source: https://www.nvm.nl/en/actueel/persberichten/2019/07cijfersq22019
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