Q4 2022: Home prices are also falling in Amsterdam-Noord

The decline that began in Q3 is continuing into Q4. In Amsterdam Noord, the average price per square meter remains at the same level as a year ago. And that’s not all. The average transaction price is also falling sharply. So is now the right time for first-time buyers to purchase a home in Amsterdam Noord?

A comparison of prices within the Ring

Prices per square meter within the Ring are still significantly higher than prices outside the Ring. After all, for a square meter inside the Ring, you’ll easily pay 40% more than outside the Ring. Looking at the average price of a home, our data shows that an average home sells for 24.5% more. It’s no secret that living outside the Ring used to be cheaper. But differences of 40% per square meter offer opportunities for first-time buyers.

The number of transactions in Amsterdam North has increased compared to six months ago

For homeowners, those were the heyday of the Amsterdam housing market. What is remarkable is that while more homes are being sold again, the time it takes to sell them is also increasing. This indicates that more and more homeowners are putting their homes on the market. Do they see the falling home prices in Amsterdam as the right time to sell their homes, or are the stricter laws and regulations regarding the ownership of multiple homes having an effect?

A sharp decline in the percentage of bids that are outbid

While bidding above the asking price was the norm last year, this trend appears to have faded. Homebuyers are aware of their position in the market. More and more homes are coming on the market, which creates opportunities for purchasing a home. Whereas last quarter buyers were paying 111.3% of the asking price for a home, that figure has now dropped to 104.9%.

As real estate agents in Amsterdam, how do we view the housing market in Amsterdam North?

As real estate agents, we see exactly what the data shows: more opportunities to buy a home and more homes on the market. This means homeowners are satisfied more quickly. And with tax season approaching, we’re seeing that people who own multiple homes are starting to have second thoughts. Renting out properties is proving to be less lucrative than previously thought, leading some to sell one or more of their rental properties.

Looking to buy or sell a home?

As real estate agents in Amsterdam, we know what’s going on. Our neighborhood specialist, Kaylee, was born and raised in Amsterdam North. As a real estate agent in Amsterdam North, she knows everything there is to know about the different neighborhoods. Is a home in Volewijck or Banne Buiksloot coming on the market? Kaylee will be the first to know, and she’ll make sure you are too. We take care of the entire buying or selling process.