The number of homes for sale is edging closer to Spain’s housing stock historic low last seen back in early 2014.
So, if you have been house-hunting in Spain recently and feel like there’s “nothing out there,” you are not imagining it. The real estate market is seeing prices rise but fewer properties coming on the market.
According to a new study by Idealista, the amount of stock available in the second quarter of 2025 is only 9% higher than that rock-bottom figure from over a decade ago.
Big cities, small stock
While the country as a whole hasn’t quite dipped to those levels, buyers in many major cities are already facing record shortages. Alicante, Bilbao, San Sebastián, Madrid, Palma, Seville, and Valencia have all hit their lowest supply on record.
In Málaga, the number of homes on the market is still 17% higher than its 2014 minimum, while Barcelona sits about 30% above its previous low.
Other cities scraping the bottom of the barrel include A Coruña, Murcia, Pamplona, Salamanca, Tenerife, Valladolid, Zaragoza and many more across the map.
Spain’s housing market: Winners & losers
The provinces of Badajoz, Santander, and Melilla are practically at their lowest-ever levels, with stock just 2–3% above the all-time minimum. Logroño (5% above) and Albacete (7% above) are not far behind.
At the other end of the scale, some cities still have a relatively healthy number of homes for sale. Granada is furthest from its historic low, with today’s stock a huge 232% higher. Others with plenty more on offer include Cáceres, Ourense, Córdoba, and Jaén.
Provinces under pressure
It’s not just individual cities feeling the pinch. A total of 26 provinces are now sitting at historic lows, including Guipúzcoa, Vizcaya, Madrid, Seville, and Valencia.
On the flip side, provinces such as Granada (173% above), Ourense (154%), Alicante (138%), and Cáceres (113%) are still well above their lowest recorded stock levels.
