In the first quarter of this year (January–March), the apartment sales markets in Seoul and Gyeonggi showed contrasting trends.
On the 14th, real estate information platform Dabang analyzed sales and jeonse transaction volumes and average prices for Seoul and Gyeonggi apartments transacted in the first quarter over the past five years (2022–2026), by five size brackets, based on actual transaction prices from the Ministry of Land, Infrastructure and Transport (MOLIT). As a result, in the first quarter of this year, sales transaction volumes for Seoul apartments fell across all size brackets from a year earlier. In contrast, Gyeonggi apartment sales transactions increased across all size brackets, marking the highest transaction volume in five years.
In the first quarter of this year, Seoul apartment sales transaction volumes declined more sharply for larger sizes compared with a year earlier. In particular, units over 135㎡ saw transaction volumes drop 49.8%. They were followed by ▲ over 85㎡ to 102㎡ (-35.4%), ▲ over 102㎡ to 135㎡ (-26.9%), ▲ over 60㎡ to 85㎡ (-19.5%), and ▲ 60㎡ or less (-13.4%). The larger the size bracket, the steeper the decline.
By contrast, during the same period, Gyeonggi apartment sales transaction volumes increased across all sizes. ▲ Over 60㎡ to 85㎡ rose 35.6%, the largest gain, followed by ▲ over 102㎡ to 135㎡ (+33.1%), ▲ 60㎡ or less (+30.6%), ▲ over 135㎡ (+30.3%), and ▲ over 85㎡ to 102㎡ (+28.3%). In particular, transactions for the small to mid-sized 60㎡ to 85㎡ segment surged about 291% from 5,395 in the first quarter of 2022 to 21,094 in the first quarter of 2026, a record high for the review period.
In the first quarter of this year, the average sales price of Seoul apartments fell across all size brackets. For the so-called "mid-to-large size" of over 85㎡ to 102㎡, the average sales price was 1.53712 billion won, down 27.6% year over year, the steepest drop. It was followed by ▲ over 102㎡ to 135㎡ (-26.5%), ▲ over 60㎡ to 85㎡ (-19.9%), ▲ over 135㎡ (-12.6%), and ▲ 60㎡ or less (-11.8%).
During the same period, the average sales prices of Gyeonggi apartments were ▲ 60㎡ or less at 435.54 million won and ▲ over 60㎡ to 85㎡ at 612.05 million won, up 7.0% and 3.8%, respectively. In contrast, ▲ over 135㎡ (-9.6%), ▲ over 102㎡ to 135㎡ (-5.4%), and ▲ over 85㎡ to 102㎡ (-2.2%) declined.
Meanwhile, in the jeonse market, transaction volumes fell and average jeonse deposits rose in both Seoul and Gyeonggi. In Seoul, jeonse transaction volumes declined across all sizes, while in Gyeonggi, jeonse transactions decreased for most sizes except for large units over 135㎡.
For average jeonse deposits, in Seoul, large units (over 135㎡) rose 8.5% from 1.42807 billion won to 1.54877 billion won, the biggest increase. In Gyeonggi, over 60㎡ to 85㎡ climbed 9.5% from 356.21 million won to 390.22 million won, the highest growth rate.
A Dabang official said, "Unlike the Seoul apartment market, where transactions have contracted as all size brackets remain on the sidelines, Gyeonggi recorded the most active transaction volume in five years, centered on small to mid-sized apartments (as end-user buying interest flowed in)," adding, "In the jeonse market, due to a shortage of listings, both Seoul and Gyeonggi are seeing declining transaction volumes and rising deposits."