Market Report

Market Report - A real estate market report is a systematic analysis of the regional or national real estate market that compiles data on listing and sales prices, transaction volumes, rental trends, vacancy rates, and market trends. Market reports are published by appraisal committees, real estate agencies, banks, research institutes, and associations, and serve as a basis for decision-making regarding purchases, sales, and investments.

Types and Publishers

The most important market reports in the German real estate market are: the Real Estate Market Report by the Appraisal Committee (official, based on actual purchase prices from notarized contracts), market reports from real estate agencies (based on listing and transaction data from their own portfolios), bank reports (focusing on financing and price forecasts), and research reports (e.g., from bulwiengesa, empirica, or the IW Cologne). Data quality varies considerably: Appraisal Committee reports are considered the most reliable source, as they are based on actual purchase prices.

Real estate agency reports, on the other hand, rely on asking prices from portals and their own transactions. Since asking prices are regularly higher than actual purchase prices-the difference ranges from two to ten percent depending on the market phase and property type-this source must be interpreted with caution. For investors’ strategic location decisions, research reports from specialized institutes such as bulwiengesa or CBRE offer the broadest data base, but they often come at a cost and are geared toward larger markets.

Benefits for Buyers and Sellers

For buyers, the market report provides guidance on pricing-it shows whether an asking price is within the market range. For sellers, it helps in setting a realistic price and estimating the time it will take to sell. For investors, market reports are indispensable for making location decisions and validating return expectations. However, market reports always reflect the past-they are not forecasts, even if they often contain predictive elements.

A common mistake when using market reports is confusing city averages with location-specific segments. A Nuremberg market report showing average apartment prices of 3,500 euros per square meter says little about a specific property in Langwasser or Erlenstegen-prices there can vary by as much as 50 percent. The truly relevant information lies in the location-specific submarkets, which well-prepared reports present separately.

Timeliness and Interpretation

A key quality feature of any market report is its timeliness. Since expert committee reports are based on the previous year’s purchase prices, there is a time lag of up to 18 months. During periods of rapid market change-such as the price correction in 2022/2023-such reports can paint an outdated picture. More up-to-date guidance is provided by price indices from portals like ImmoScout24 or Immowelt, which are based on asking prices and updated monthly. These sources usefully supplement the Appraisal Committee report but do not replace it.

Real estate agents and appraisers who are regularly active in the market can bridge the gap between historical reports and current market developments. Anyone buying or selling a property should therefore consult both the current market report and up-to-date market observations.

Practical Tip for Property Owners in Nuremberg

We recommend that property owners and prospective buyers in the Nuremberg metropolitan region use the Nuremberg Appraisal Committee’s Real Estate Market Report as their primary source-it is published annually and contains detailed data broken down by neighborhood, property type, and year of construction. In addition, reports from the Nuremberg Chamber of Commerce and Industry (IHK) and regional real estate agent networks provide current assessments.

Anyone looking to sell a property should be familiar with the current market report in order to justify the asking price with sound reasoning-buyers are increasingly doing their own research and questioning inflated prices. Especially following the price decline in 2022/2023, we repeatedly see in practice that sellers have not yet fully internalized the market correction in their own asking prices. An easy-to-read, up-to-date market report helps calibrate expectations and make informed decisions.

Frequently Asked Questions

Where can I get the real estate market report for Nuremberg?

The real estate market report is published by the Appraisal Committee for Real Estate Values in the City of Nuremberg and is available for a nominal fee (approx. 40-80 euros) from the Appraisal Committee or online. Excerpts and standard land values are available free of charge via the BORIS portal.

How up-to-date is the data in a market report?

Appraisal Committee reports are based on purchase prices from the previous year-so there is a time lag of 6-18 months. Real estate agent reports are more current but are based on asking prices, which may differ from actual transaction prices. For a current assessment, we recommend supplementing the market report with your own market observations.

Can I use the market report as a basis for the purchase price?

The market report provides average values and ranges - it does not replace an individual appraisal of the specific property. The property’s location, condition, amenities, and unique features can shift the price significantly above or below the average. However, the market report is a valuable tool as a basis for negotiation in price discussions.

Which market reports are particularly relevant for investors in the Nuremberg region?

In addition to the Appraisal Committee Report, the Commercial Real Estate Market Report by the Nuremberg Chamber of Commerce and Industry for Middle Franconia and the Residential Real Estate Report by empirica AG are recommended for investors in the Nuremberg metropolitan region. For purchase price time series by neighborhood, the market data portals of real estate platforms, which provide free access to historical asking price trends, are also suitable.

How do I read a market report correctly?

The most common mistake when reading a market report is uncritically accepting average values. An overall average for “Nuremberg apartments” obscures the significant differences between a historic building from the Wilhelminian era in Gostenhof and a new condominium in Erlenstegen. To use a market report effectively, pay attention to: the data’s reference date, the scope of the analysis (neighborhood vs. entire city), the different property types (new vs. existing, apartment vs. house size), and the price basis used (asking price or transaction price). A good market report clearly highlights these distinctions; a blanket, single-line figure for the “average price per square meter in Nuremberg” is unsuitable as the sole basis for decision-making.

Market Reports and Price Cycles

Real estate prices move in cycles. Market reports that are compared over several years allow the current situation to be placed within the market cycle. Nuremberg experienced a pronounced phase of price increases between 2012 and 2021, followed by a correction in 2022/2023. Understanding this cyclical pattern helps buyers and sellers calibrate their expectations. Anyone who uses a market report from the high-price period of 2020-2021 as a reference for today’s prices risks a significant misjudgment. We therefore always recommend reading at least the last three editions of the Appraisal Committee report in comparison to understand the direction and pace of price trends.

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