Is today a seller's or buyer's market?
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Understanding the real estate market's current conditions is pivotal whether you're buying or selling property. In this blog, we'll go into the essential indicators and factors that dictate whether it's a buyer's or seller's market.

In the world of real estate, it's essential to hand the concepts of a buyer's market and a seller's market. A buyer's market means more properties are available, offering favorable terms for buyers. Conversely, a seller's market results from limited supply, giving sellers the upper hand.

Market conditions aren't fixed; they vary by location and change over time due to factors like the economy, demographics, and more. Economic factors, including job opportunities and interest rates, significantly impact market dynamics. Demographics, such as population shifts and age trends, also influence supply and demand.

In this blog, we'll explore these dynamic market conditions and how they affect your real estate investment decisions.


Key Indicators:

- Real estate inventory:

This pivotal metric reveals the current number of available homes for sale. Recent data reveals an increase in housing availability in Istanbul over the past year, with the supply of properties showing a notable uptick. This surge in available homes has created a favorable environment for prospective buyers. Notably, there has been an approximately 15% year-over-year increase in the number of available properties. This scenario typically indicates a buyer's market, where buyers enjoy a broader selection, competitive pricing, and advantageous terms.


-Days on Market:

which measures how long properties stay on the market before selling. A shorter time typically indicates a seller's market, while a longer duration suggests a buyer's market. In the context of Istanbul's real estate market, this metric has particular significance, indicating a notable buyer-friendly environment. Recent data analysis reveals that, on average, properties in Istanbul have remained on the market for approximately 90 days. This extended duration reflects a buyer's market, where properties tend to linger for a relatively longer period before finding a buyer. The longer DOM is primarily driven by increased housing availability, allowing buyers more time to explore their options and negotiate favorable terms.


-Pricing Trends:

Observing whether home prices are rising or falling helps determine market health. Increasing prices lean toward a seller's market, while declining prices hint at a buyer's market.

Istanbul is clearly leaning towards a buyer's market, and the numbers support this trend. Over the past year, property prices in the city have declined by approximately 5%, reflecting a buyer environment. This decline is partly due to the availability of new construction projects, with developers offering competitive prices to attract buyers. In this market, buyers can find more affordable properties and negotiate favorable terms, while sellers may need to adjust their pricing strategies to remain competitive.



Factors Influencing the Market:

To gain a deeper understanding of what determines whether a real estate market favors buyers or sellers, it's crucial to go into the key factors that shape this equilibrium. Here's an in-depth exploration of these factors:

- Economic Conditions:

Istanbul is currently a buyer's market. Economic indicators act as a compass, steering the course of the real estate market. Critical factors like Gross Domestic Product (GDP), employment rates, and consumer confidence heavily influence this direction. For example, during the 2008 financial crisis, Turkey saw a sharp depreciation of its currency, impacting property prices. This shift led to housing markets favoring buyers. Conversely, in the years leading up to 2020, a robust economy resulted in seller's markets. The increased demand and limited supply drove home prices upward. However, it's essential to note that today's economy is showing signs of an inflation crisis, besides the end of 2023 the market is heading towards causing property prices to trend downward in the near future.



Demographic shifts in Turkey, including population growth and generational trends, have a direct impact on housing demand. Urbanization and an increasing young population have led to a demand for affordable housing in urban areas, which can favor sellers in those regions.

Example Statistic: Turkey has experienced significant urbanization in recent three years, with over 75% of the population residing in urban areas.


- Government Policies:

Government policies can significantly influence the Turkish real estate market. Programs such as the Turkish citizenship by investment program, which offers citizenship to property buyers meeting specific investment criteria, have attracted foreign investors and bolstered demand in certain segments.

Example Statistic: In the wake of the citizenship by investment program, foreign purchases of Turkish real estate increased significantly, according to The Turkish Statistical Institute 2 thousand 625 houses were sold to foreigners in June.



Like many real estate markets worldwide, Turkey's market experiences seasonality. For instance, the summer months often witness increased tourist activity and, consequently, higher demand for vacation properties in coastal regions, creating a favorable environment for sellers. For example, Coastal regions like Antalya and Bodrum experience higher property demand during the summer, resulting in price increases.

However, it's noteworthy that when we narrow our focus to Istanbul, a consistent trend emerges - it is perpetually a buyer's market. Despite the overall seasonal fluctuations in Turkey's real estate market, Istanbul maintains its buyer-friendly conditions throughout the year, offering prospective buyers a range of opportunities and advantageous terms.

These factors are intricately interconnected, contributing to the flow of the Turkish real estate market.


How to Determine the Current Market in Turkey:

Research Local Market Data and Statistics:

Dive into local market data and statistics to get a clear picture of the trends in your area. Look for information on property prices, inventory levels, and days on market. Government agencies, real estate websites, and industry reports are valuable sources of data.

In today's rapidly changing real estate world, staying informed about the latest market data is crucial. For example, and again according to The Turkish Statistical Institute recent numbers show a significant increase in sales of homes to first-time buyers. Just in July, these sales shot up by 10.3% compared to the same time last year, reaching a substantial 31,641 transactions. This means that nearly 29% of all sales were to first-time buyers during that month. This uptick suggests a lively market, which could be leaning toward favoring sellers. However, it's worth noting that when we look at the broader picture from January to July, there was a slight 14.5% decrease in first-time home purchases, illustrating the changing nature of real estate trends. By keeping up with these statistics, both potential buyers and sellers can make better-informed decisions tailored to their local market's current conditions.


Consult with Real Estate Professionals:

Real estate agents and brokers have their fingers on the pulse of the market.

At Right Home Agency we are being the trusted guide through the complex real estate terrain. We possess knowledge and data of the local market and can offer valuable insights. Don't hesitate to inquire about recent sales and pricing trends. We can also keep you informed about upcoming developments and market regulations. Plus, we provide a full suite of services, including property listings and market analysis, to help clients navigate the Turkish real estate market effectively. Partnering with experts like us equips you with the expertise needed for successful real estate ventures in Turkey.



Presently, it's evident that the real estate market is tilting in favor of buyers. As we've outlined, elements such as economic circumstances, demographic shifts, government regulations, and seasonal variations are instrumental in molding this landscape. Nonetheless, it's crucial to bear in mind that market conditions are not fixed; they oscillate and transform under the influence of numerous factors. What holds true today might undergo changes in the future.



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