Housing prices fell by 0.6% in September. So far in 2024, housing prices in Norway have increased by 7.6%. In Oslo, housing prices fell by 0.7% in September.
Last year and the year before, prices and transactions dropped significantly during the fall, and the market almost came to a standstill. That is unlikely to happen this year, but it is expected to be a somewhat calmer market with continuing falling or stable prices leading up to the New Year.
In the new year 2025, when good news about interest rate cuts is likely to come, and possibly also some easing of lending regulations, there will probably be a highly competitive market for homes.
So if you’re looking to buy, you have a window now where you can purchase at a good price without too intense bidding wars. In Norway, the auction principle is practiced in property purchases. This means that multiple bidders and active bidding rounds contribute to driving prices up. This autumn, you have the opportunity to be the only bidder or one of a few bidders. This gives you the chance to secure the bid at an acceptable price. I have a good overview and systems for estimating the correct purchasing price, and I will assist you through the bidding negotiations.
Why not buy now and sell in January, for example? For those who have nothing to sell, the choice is simple: Go and buy!
If you would like to have a conversation about what could be advantageous for you and get help in finding the right home, I am here for you ❤️
Boligdama – Trude Larsen
Your Trusted Home Buying Advisor in Norway
T: +47 95037330
trude@boligdama.no
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