October was slightly better than September for developers operating in the 7 most important markets – indicates the preliminary reading of data from the Otodom Analytics market monitor. A total of 3643 sold apartments is 6% more than the September result, which after a monthly correction may end up with a result of about 3.5 thousand. The largest 50% drop in sales took place in Katowice, and the smallest by 20-25% in Krakow, Poznan, Warsaw, and Wrocław. The annual drop in sales by a quarter is not a reason to trigger the alarm – the Safe Credit 2% program was in operation twelve months ago, which caused sales to rise.
In October 2024, development companies again introduced more flats for sale than were purchased at the same time. Therefore, it is not surprising that the offer of developer flats in the largest markets (Katowice, Krakow, Łódź, Poznań, Tricity, Warsaw, and Wrocław) is still growing and exceeded 53 thousand.
The record number of new flats in Katowice
The situation in individual cities is, of course, varied. The most stable situation is in Warsaw, due to the size of the market – one new investment does not affect the data here as much as, for example, in Katowice or Poznań. In October, developers sold 1258 apartments in the capital (preliminary reading), which allows us to count that the corrected result will be similar to that in September and will be 1100-1150 sold units. At the same time, 1148 premises came onto the market, and the offer rose to 12.6 thousand.
In the last 12 months, we noted the biggest increase in the offer in Krakow and Wrocław – 110% and 90% respectively. Despite the clear recovery of the offer in these large centers, the number of flats available in Łódź is still higher. At the end of October, it was almost 8.4 thousand.
Looking at October introductions, you can see a very high result in Katowice – 745 flats is the most in the history of monitoring this market by Otodom Analytics. This is the effect of introducing several larger investments to the market, including the Mikato by Archicom and Józefowska Estate by Grimbud.
October sales brought no surprises. After Warsaw, developers sold the most flats in the Tricity, Krakow, and Wrocław, and the least – in Katowice.
Yoy sales fall in all cities. The biggest in Katowice by 50%, and the smallest by 20-25% in Krakow, Poznan, Warsaw, and Wrocław.
Stable in prices
The analysis of average prices of flats offered in October on the seven largest markets indicates a further stabilization of prices of flats built by development companies. However, it should be noted that in October average prices stabilized not only month by month but also year on year happened a symbolic change.
Sales Time Falls
Decent sales in recent months lead to a decline in the selling time of market supply. It is a value that shows how quickly all flats would disappear from a given market if sales stayed at the level of the last 3 months, and developers did not introduce new investments.
The rapid increase in supply in Katowice has resulted in the longest selling time indicator in this city and it is over 10 quarters, for Łódź it is 9 quarters and these are two markets with the risk of oversupply.
Source: https://ceo.com.pl/stabilizacja-cen-i-wzrost-oferty-mieszkan-deweloperskich-co-przyniosl-pazdziernik-na-rynku-nieruchomosci-17345
