Late summer traditionally signals the peak of the moving season, and this was clearly reflected in the sales figures for OP Homes homes. In August, the number of properties and homes sold through OP Homes reached its highest point for the year.
In total, OP Homes facilitated the sale of 902 homes and properties in August, making it the highest monthly transaction volume for 2023.
While this represents a 14 percent drop compared to August 2022, it is the smallest monthly decrease seen in 2023, indicating a steady return to normalcy in the housing market.
For existing homes, the decrease in transaction volume compared to August 2022 was 13 percent. However, the number of detached homes sold remained nearly on par with the previous year. Sales of new homes, on the other hand, continued to remain low in August.
Strong Demand for Detached Homes
"There has been a renewed demand for detached homes, and transactions have been consistently active. We've seen a shift from the price peaks of the pandemic years to more moderate price levels, allowing buyers and sellers to come together in more situations," said Lasse Palovaara, Managing Director of OP Homes.
Family Homes Attract Buyers
The sale of existing apartment buildings was 20 percent lower in August than the previous year at OP Homes. Larger family homes are currently attracting significantly more interest from buyers than smaller apartments.
"If you've been considering purchasing a smaller apartment in exchange for a detached house or a larger townhouse, now might be a good time to act. Especially well-maintained family homes are in demand, and there is plenty of choice and good buying opportunities in smaller apartments," analyzed Palovaara, describing the current housing market situation.
Leisure Properties Regain Momentum
In July, OP Home reached last year's numbers in the sale of leisure properties. However, due to a sluggish spring, the annual figures for cottage sales are expected to fall well below the levels seen in 2022.