Housing sales dropped in 2025 against 2024, the number of days it took brokerages to convert initial leads into actual bookings decreased over the year – from 32 days in 2024 to 26 days in 2025, reveal the latest data from ANAROCK’s proprietary AI analytics platform ASTRA. The analysed consumer behaviour data indicates that between 2020 and 2025, the conversion time was lowest in 2022 at 22 days, and the highest in 2020 at 35 days.
The time it takes for property seekers to convert to buyers is a key metric to gauge the overall market demand. Budget-wise trends further indicate the preference of buyers in their decision-making cycle.
“The drop in lead-to-buy conversion days is essentially due to higher sales of big-ticket size homes across the top cities,” says 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 INR 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.”
Source: ANAROCK Research & ASTRA DataBudget-wise Data Trends
A deeper analysis of the budget category data shows that homes priced between INR 1-2 Cr take the highest conversion time, clocking in at about 30 days in 2025. In 2024, it was the highest at 47 days, thereby declining by over 17 days in 2025.
“Buyers of homes priced between INR 50 lakh to INR 1 Cr took the second-longest time (~29 days) to push the ‘buy’ button from the day they generated the first to paying the booking amount,” says Santhosh Kumar, Vice Chairman – ANAROCK Group. “It was the same back in 2024, as well. Notably, homes priced under INR 3 Cr pushed the conversion time to 27 days in 2025, against 17 days in 2024 when it was the lowest.”
“This increase in conversion time from the lowest point reflects a shift from a seller-driven market to a more cautious, selective luxury housing-driven one,” he adds. “Demand in the luxury category is normalising now, with ample new luxe supply entering the market giving the target clientele a wider spread of options.”
With higher prices, more new supply, and alternative investment options also attractive, buyers are taking longer to finally seal the deal.
The Luxe Edge Sharpens
On the other hand, homes priced INR 2-3 Cr saw the lowest conversion time of just 15 days in 2025, from 28 days in 2024 – a y-o-y reduction of 13 days. This faster decision-making reflects strong buyer confidence and value perception in this segment, and possibly also FOMO brought on by the relatively limited supply.
Source: ANAROCK Research & ASTRA Data
Buyers in the INR 2-3 Cr segment tend to be fully aware of market trends and are financially equipped to decide and transact quickly. For developers, it implies better pricing power with scope for further price hardening, and faster inventory turnover. In short, this segment is currently an unmatched business and profit generator.
Affordable homes (priced <INR 50 lakh) saw their conversion time reduce from 28 days in 2024 to ~19 days in 2025. This reduction can be attributed to a limited options available in the primary market, as new supply in this category has reduced substantially over the last few years. Rising rents across top cities are also pushing several first-time budget homebuyers to make purchase decisions aided by faster loan approvals, digital loan processing, and better access to credit.
“Such a shortened lead-to-buy cycle among lower-budget buyers clearly signals necessity-driven demand in the affordable housing segment,” says Santhosh Kumar.
“The drop in lead-to-buy conversion days is essentially due to higher sales of big-ticket size homes across the top cities,” says 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 INR 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.”
“Buyers of homes priced between INR 50 lakh to INR 1 Cr took the second-longest time (~29 days) to push the ‘buy’ button from the day they generated the first to paying the booking amount,” says Santhosh Kumar, Vice Chairman – ANAROCK Group. “It was the same back in 2024, as well. Notably, homes priced under INR 3 Cr pushed the conversion time to 27 days in 2025, against 17 days in 2024 when it was the lowest.”
“This increase in conversion time from the lowest point reflects a shift from a seller-driven market to a more cautious, selective luxury housing-driven one,” he adds. “Demand in the luxury category is normalising now, with ample new luxe supply entering the market giving the target clientele a wider spread of options.”
With higher prices, more new supply, and alternative investment options also attractive, buyers are taking longer to finally seal the deal.
The Luxe Edge Sharpens
On the other hand, homes priced INR 2-3 Cr saw the lowest conversion time of just 15 days in 2025, from 28 days in 2024 – a y-o-y reduction of 13 days. This faster decision-making reflects strong buyer confidence and value perception in this segment, and possibly also FOMO brought on by the relatively limited supply.
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