In the Attica region, the average time for selling a property is around six months, while Thessaloniki shows a slightly faster absorption rate, with homes selling approximately two weeks faster than in Attica. In the third quarter of 2024, the absorption time in Thessaloniki dropped to just over 5.5 months, following some minor fluctuations earlier in the year. The suburbs of Thessaloniki, part of the wider Thessaloniki Prefecture, have become the most popular area for domestic buyers seeking to purchase a home.
Rest of Greece
Across the Aegean Islands, the average absorption time for homes in the third quarter of 2024 is around seven months, with minor fluctuations observed in previous quarters. In comparison, properties in the Ionian Islands are taking a bit longer to sell, with an absorption time of 7.8 months in the same period, slightly higher than in the Aegean Islands and Crete. Both the Aegean Islands and Crete, however, show similar absorption patterns, with homes being absorbed from the market in about seven months.
On mainland Greece, the absorption rate is lower in the Peloponnese, while properties in Macedonia and Epirus are selling slightly faster, with the absorption time hovering just above six months in the third quarter of 2024. Notably, the absorption rate in Macedonia has improved from the first to the third quarter of 2024, with the time to sell homes decreasing from 7.7 months in the first quarter to 6.4 months in the third quarter.
This data highlights the regional variations in the real estate market across Greece, with urban centers and more populous areas seeing faster turnover, while islands and mainland regions such as the Peloponnese experience longer sales periods.
