₹2-3 cr homes sell fastest as housing conversion time hits 3-year low

Even as housing sales slowed in 2025, homebuyers across India’s top cities made purchase decisions faster, particularly in the mid-luxury segment, according to ANAROCK’s AI-driven analytics platform ASTRA.

 

The average lead-to-buy conversion time — the period between a buyer’s first enquiry and booking — fell to 26 days in 2025, compared with 32 days in 2024, marking the lowest level in three years. Between 2020 and 2025, conversion time was lowest in 2022 at 22 days and highest in 2020 at 35 days, the data showed.

 

The decline in conversion time came despite housing sales across the top seven cities dropping in 2025, suggesting that buyers who remained active in the market were more decisive — particularly in higher-ticket housing categories.

 

"The drop in lead-to-buy conversion days is essentially due to higher sales of big-ticket size homes across the top cities,” saID Dr. Prashant Thakur, Executive Director & Head – Research & Advisory, ANAROCK Group. “Among all the sold housing budget segments, the lead-to-buy conversion time was the lowest – at 15 days - for homes priced between Rs 2-3 Cr in 2025. It was 28 days in 2024, and this explains why the overall conversion time decreased in 2025 over 2024, despite sales reducing by 14% over the year across the top 7 cities.”

 

Mid-luxury homes drive faster decisions

 

Homes priced between ₹2 crore and ₹3 crore recorded the fastest conversion time at just 15 days in 2025, sharply down from 28 days in 2024. This segment played a key role in pulling down the overall conversion cycle, reflecting strong buyer confidence and perceived value.

 

According to ANAROCK, buyers in this segment tend to be financially prepared and well-informed about market trends, enabling quicker decision-making and faster inventory turnover for developers.

 

Affordable and mid-segment demand remains steady

 

Affordable homes priced below ₹50 lakh saw conversion time fall to 19 days in 2025, compared with 28 days in 2024, indicating necessity-driven demand. Limited new supply in this category, rising rents, and easier access to home loans have encouraged faster purchase decisions among first-time buyers.

 

Meanwhile, homes priced between ₹1 crore and ₹2 crore took the longest to sell, at around 30 days, though this was significantly faster than 47 days in 2024, a decline of over 56%.

 

Properties priced between ₹50 lakh and ₹1 crore took about 29 days to convert, making them the second-slowest category in 2025.

 

Luxury segment shows cautious buying

 

In contrast, homes priced above ₹3 crore saw conversion time rise from 17 days in 2024 to 27 days in 2025, reflecting a shift toward more selective decision-making among luxury buyers.

 

The increase comes as new luxury supply enters the market and buyers gain more options, alongside rising property prices and competing investment opportunities.

 

What it means for the housing market

 

The data suggests that while overall housing demand moderated in 2025, buyer intent remained strong in specific segments — especially mid-luxury and affordable housing.

 

Faster conversion cycles in these categories indicate clear purchase intent and confidence, while longer decision timelines in luxury housing reflect a more balanced and selective market environment.

 

Overall, the shrinking lead-to-buy cycle highlights a market where serious buyers are acting faster, even as sales volumes soften and pricing pressures continue.

 

Here are the highlights: 

• Drop in housing lead-to-buy conversion despite sales volume drop in 2025 (high-ticket housing drove sales) across top cities
• Conversion time across top cities b/w 2020 & 2025 was lowest in 2022 (22 days)
• Worth noting - lead-to-buy conversion time in 2025 lowest (15 days) for homes priced Rs 2-3 Cr (was 28 days in 2024)
• Homes priced Rs 1-2 Cr take longest (30 days) to sell post 1st lead, followed closely by homes priced Rs 50 lakh – Rs 1 Cr (29 days)
• However, Rs 1-2 Cr priced homes took 47 days to sell in 2024 – so they sold over 56% faster in 2025
• Lead-to-sale conversion for >Rs 3 Cr homes took substantially longer – from 17 days in 2024 to 27 days in 2025
• Affordable homes (<Rs 50 lakh) saw 19 days’ conversion in 2025, against 28 days in 2024