I can find plenty of asking-price data for Berlin, but reliable completed-sale figures are much harder to pin down.
I pulled a small sample of apartments listed between €489,400 and €734,200. The apparent price movement was -2.9%, while median marketing time was about 42 days. Condition varied enough to make the averages fairly noisy, and neighbourhood boundaries may be distorting the comparison too.
The point I cannot settle is how buyers are treating building reserves. Are weak reserves leading to lower offers, especially where financing is tight, or do buyers generally reject the property and move on? It would also be useful to know whether recent price cuts are producing completed sales or merely preventing listings from being withdrawn.
For anyone following this part of Germany closely: what are you seeing in recent completed sales, and at what stage do reserve levels start affecting negotiations?
I pulled a small sample of apartments listed between €489,400 and €734,200. The apparent price movement was -2.9%, while median marketing time was about 42 days. Condition varied enough to make the averages fairly noisy, and neighbourhood boundaries may be distorting the comparison too.
The point I cannot settle is how buyers are treating building reserves. Are weak reserves leading to lower offers, especially where financing is tight, or do buyers generally reject the property and move on? It would also be useful to know whether recent price cuts are producing completed sales or merely preventing listings from being withdrawn.
For anyone following this part of Germany closely: what are you seeing in recent completed sales, and at what stage do reserve levels start affecting negotiations?