Madrid and Valencia have featured in recent discussions of rising homes-for-sale stock. Barcelona has, too, while reports have also covered Seville and Málaga. Real estate expert Sergio Gutiérrez believes the shift could reshape Spain’s property market. He sees the increase in listings as a possible sign of a new phase, in which buyers may gain use after years of rising prices and fierce competition. The scale of that change varies by city and by the period being measured.
Gutiérrez, who shared his analysis on TikTok, points to data showing a slowdown in transactions. The National Statistics Institute (INE) reports that home sales in April fell by 1.8% year on year, to 53,241 transactions. Transaction totals and advertised listings measure different parts of the market. Sales can fall while more homes are offered for sale, but neither measure alone shows that prices are falling.
Stock Growth Signals Shift
Figures attributed to Daniel del Pozo, managing director at idealista/data, put stock increases at 17% in Madrid and 13% in Valencia. Barcelona rose 6%, while Seville was up 5%; Málaga recorded a 3% increase. Gutiérrez reads the figures as a sign that some buyers are stepping back instead of accepting high asking prices. “We’re approaching a turning point because people aren’t willing to pay just anything anymore,” he says.
A later idealista analysis, published on 22 October 2026, compared the third quarter with the same period a year earlier and found that Spain’s national supply of homes for sale had fallen by 9%. Among provincial capitals, València recorded a 15% increase in listings, while Madrid was up 14%. Barcelona rose 1%, and Sevilla 2%; Málaga’s stock declined by 1%. The different readings reflect distinct measurement periods and geographic definitions. The newer figures show increases in some large-city markets, not a uniform rise across all five cities. Francisco Iñareta, idealista’s spokesperson, said supply “continues to decline across most of the country.” The national rate of decline accelerated from 7% in the second quarter to 9% in the third.
Those figures describe advertised homes for sale. They do not measure completed new housing or sales volumes, and they say nothing about price reductions. More listings in a particular market may give buyers more choice, but do not by themselves show that sellers have cut prices or lost the ability to hold firm. The balance also depends on local demand and affordability, along with how quickly homes sell.
Prices Remain High, but Discounts Emerge
Despite signs of a less frenetic market, asking prices remain high. Idealista reports that the average price for a resale home in Spain reached €2,795 per square meter in May, up 16.9% year on year. Fotocasa’s index puts the national average at €3,092 per square meter. It estimates that a typical 80-square-meter home costs €247,391. Those index figures track asking prices, not averages of completed transactions.
Madrid illustrates the gap between rising listings and affordability relief. Fotocasa’s October 2026 comparison put the average asking price for an 80-square-meter home in the capital at €526,573, or €6,582.16 per square meter. A wider choice of homes does not necessarily mean a lower entry price, particularly in high-cost metropolitan markets.
Listing data also show signs of negotiation. Idealista found that 14% of home listings saw price reductions in the first quarter of the year, up from 11% a year earlier. Barcelona and Teruel each had discounts on 21% of listings. Madrid recorded 20%, while Málaga and Seville each reached 18%; Valencia also stood at 18%. These figures track reductions in advertised prices, not the final prices agreed at sale.
Periphery Gains Appeal
Gutiérrez describes a market moving at two speeds: central neighborhoods in major cities are cooling, while demand remains stronger in suburbs and some mid-sized cities. Buyers are increasingly looking for areas where prices fit their budgets. That makes the outskirts more attractive when asking prices and transport links suit their needs.
In Málaga, short-term changes in listings sit alongside a longer-term supply challenge. A report by idealista, citing consultancy Savills, identified nearly 30,000 potential homes across major development areas. Of those, 12,579 are planned as protected or affordable housing. Savills estimated that, even under a favorable scenario, 45% to 50% of land currently under management could become housing over the next decade. About 10% is expected to be developed in the following five years. The report identified planning delays and uncertainty over electricity supply as constraints. Urbanization and construction costs, along with labor shortages, are also holding back development.
Price and affordability measures vary depending on what is counted. The INE’s Urban Indicators release, published on 21 October 2026, reported that Calvià had the highest average home-sale price among the 432 municipalities with more than 20,000 inhabitants in the dataset: €981,485 in 2025. Pozuelo de Alarcón followed at €907,270, with Santa Eulària des Riu at €888,800. Puertollano recorded the lowest average, at €57,698. These figures are average transaction prices by municipality, not asking prices per square meter. They are not directly comparable with listing-price indexes.
The coming months will show whether increased listings in particular urban markets lead to broader price reductions or sellers continue to hold out. For now, the indicators describe a market with high prices and localized changes in advertised stock. Conditions also differ substantially between cities and neighborhoods, rather than pointing to a uniform shift in bargaining power.
For prospective buyers, a less competitive market may create more room to compare properties and negotiate, especially beyond city centers. Local listing trends offer one measure of conditions; completed-sale prices and transaction volumes provide others. Considering these indicators together can help clarify whether a particular area is becoming more affordable.
