Existing homes take 4 months to sell, Ural Chamber of Real Estate says

16 August 2013 (16:23)

August 16, 2013. According to the data as of August 12, 2013, the average price of a square meter of housing on the existing home market in Yekaterinburg is 70,899 RUR, the Ural Chamber of Real Estate's analytical report states.

The analysts say the market has been going up slightly by about 0.1% a week over the last two months. Given that prices tended to drop in the first half of the year, a change in the median figure has only been +1.1% since the start of the year.

'Nevertheless, the come-back of the upward trend does not necessarily mean a return of the stable price growth yet,' the analysts feel.

The summertime supply on the existing homes market stopped growing and, in fact, tends to be declining. In comparison with mid-May, the number of homes for sale is down 5% (according to the Ural Chamber of Real Estate's database, this is about 450 apartments). At the same time, it takes about 4 months to sell a dwelling, which is a shorter time period than at the beginning of the year.

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