Market · Inventory
Where is the market heading? The reality of inventory and the price gap on the Costa del Sol
The post-covid rush has calmed down. To understand where the market is heading, looking at what sold is not enough: you need to see the balance between available inventory and actual sales.
SHORT ANSWER
The data from the end of 2025 shows a market that has moved into the balanced zone: sales are at a more normal pace and selling takes a little longer. In Marbella, 106.9% of the available apartment inventory sold in a year (73.6% in Benahavís), but only 29.0% of villas (17.8% in Benahavís). Price decides: a home priced right from day one sells; an overpriced one becomes invisible.
IN THIS ARTICLE
These are the four takeaways from the end-of-2025 data for anyone selling in 2026.
Has the market moved into balance?
The most obvious change is market velocity, the speed at which homes sell. Sales have moved to a more normal pace because the absorption ratio (the balance between supply and demand) has moved into a balanced market zone. We are no longer in a lopsided sellers' market where sellers hold all the leverage: buyers are taking more time to decide, and sellers should expect a slightly longer timeline to close. It is a healthy environment for both sides.
How fast are apartments and villas selling?
| Inventory sold in one year | Marbella | Benahavís |
|---|---|---|
| Apartments | 106.9% | 73.6% |
| Villas | 29.0% | 17.8% |
Share of the available inventory that sold within a year. Data published in early 2026. Own analysis.
Apartments are the engine of the market. In Marbella, 106.9% of the available inventory sold within a year, and 73.6% in Benahavís, more than three times the pace of villas: buyers want speed and modern homes ready to enjoy.
Villas show an "illusion of availability". There seems to be plenty for sale, but actual sales are low: only 29.0% of the villas on the market in Marbella and 17.8% in Benahavís. Many are not real options for buyers and stay unsold because they do not match demand.
How is inventory changing?
- Apartment inventory is generally growing.
- The market under €250,000 has virtually vanished.
- In villas there is a squeeze at the bottom: the number of villas for sale is falling, almost entirely under €1.5 million.
- The supply of villas over €4 million remains very steady.
Scarcity now depends on the price point, not just the property type. That is why municipal averages say little about a specific home.
What does it take to sell in a balanced market?
The biggest mistake today is overpricing. A well-priced property usually closes near its asking price, but overpriced homes never reach the negotiating table and become invisible. With more options and less urgency on the buyer's side, simply listing is not enough: your home needs an edge. If you are unsure about your price, start with what happens when you overprice a property and the comparative market analysis.
- Price accurately from day one
- Present the property flawlessly
- Use professional staging
- Back your price with data
The goal is not simply to list and wait, but a planned, professional exit strategy and a reasonable price.
Alfonso Lacruz
Frequently asked questions
Is the Marbella and Benahavís market balanced now?
According to the data from the end of 2025, yes: the absorption ratio has moved into the balanced market zone and we are no longer in a sellers' market.
What share of the inventory sold in a year?
For apartments, 106.9% in Marbella and 73.6% in Benahavís. For villas, only 29.0% in Marbella and 17.8% in Benahavís.
How is inventory changing?
Apartment inventory is growing, supply under €250,000 has virtually vanished, villas for sale are falling under €1.5 million and the supply over €4 million remains steady.
Why do overpriced homes not sell?
Because they never reach the negotiating table and become invisible. A well-priced property usually closes near its asking price.
About the author
Alfonso Lacruz
Naval engineer and market analyst. Over 25 years advising owners in Marbella and Benahavís. Publishes a monthly market analysis with Land Registry data.
The figures are indicative and every property is different: for a specific number, ask for a valuation of your home.
Sources: Own analysis. Last updated: 6 February 2026.
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