Nationwide apartment auctions hit a 12-year, 7-month high; Seoul’s apartment auction price ratio returns to 100%

[Financial News] The number of apartment auction cases nationwide reached a 12-year, 7-month high. As auction listings piled up, both the auction success rate and the auction price ratio fell, while in Seoul the price ratio recovered to 100%, led by mid- to lower-priced apartments worth ₩1.5 billion or less.
According to the October 2026 Auction Market Trends Report released on the 5th by Jiji Auction, a company specializing in auction data, 3,851 apartment auction cases proceeded nationwide in October, up 446 (13.1%) from 3,405 the previous month. That was the highest number since March 2014, when there were 4,063 cases.
By region, Gwangju and South Jeolla Province recorded the largest increase, with 430 apartment auction cases, up 119 from the previous month. The number also rose by 110 in Daegu, as well as in Gyeongsangbuk-do (71), Jeonbuk (61), Seoul (60) and Incheon (58), among other areas.
All major auction-market indicators declined. The nationwide apartment auction success rate was 33.9%, down 1.5 percentage points from 35.4% the previous month. The auction price ratio—the winning bid as a percentage of the appraised value—also fell 0.7 percentage points, to 85.2% from 85.9%. The average number of bidders declined from 5.8 to 5.4.
In Seoul, however, the auction success rate and price ratio moved in opposite directions. The October success rate for Seoul apartments plunged 13.5 percentage points from 35.3% the previous month to 21.8%. That was the lowest level in three years and six months, since April 2023 (19.0%).
But Seoul’s auction price ratio rose 5.4 percentage points from 94.7% the previous month to 100.1%, returning to 100% for the first time in three months. Although the share of apartments put up for auction that were actually sold fell, the winning bids were, on average, higher than the appraised values.
Differences by price bracket were also pronounced. Ultra-high-end apartments appraised at ₩2.5 billion or more had an auction success rate of just 13.6% and a price ratio of 97.1%. By contrast, apartments priced at ₩1.5 billion or less recorded a success rate of 21.4% and a price ratio of 103.6%.
By autonomous district, excluding Gwangjin and Gangdong districts, which each had just one successful bid, Gwanak District posted the highest auction price ratio at 111.7%. Seongbuk District also recorded 108.0%. The average number of bidders in Seoul rose by 0.1 from the previous month to 5.5.
The auction success rate for apartments in Gyeonggi Province rose 2.7 percentage points from 41.8% the previous month to 44.5%. However, the auction price ratio fell 1.5 percentage points to 87.3%, marking its second consecutive monthly decline. This was due to ratios remaining in the low 70% range in Ilsanseo District of Goyang (72.2%) and Paju-si (73.3%).
Gwangmyeong-si, a regulated area, posted an auction price ratio of 135.3%, while Suwon-si’s Yeongtong District recorded 106.1%. The ratios in Anyang-si’s Manan District (100.6%) and Gunpo-si (100.5%) also exceeded appraised values. The average number of bidders in Gyeonggi Province fell by 0.2 from the previous month to 6.0.
In Incheon, the apartment auction success rate fell 2.0 percentage points from the previous month to 29.7%. The auction price ratio also dropped 1.4 percentage points to 79.7%. Low-priced winning bids continued in Michuhol-gu (68.3%) and Namdong District (76.6%), while Yeonsu-gu (85.5%) and other areas posted relatively high ratios. The average number of bidders fell from 6.3 the previous month to 4.5.
Apartment auction price ratios fell in all four major regional metropolitan cities. Busan saw the steepest drop, down 3.3 percentage points from the previous month to 79.6%. The ratios in Daegu (80.2%) and Daejeon (79.0%) each fell 2.7 percentage points, while Ulsan (87.7%) was down 0.8 percentage points.
Among the seven provinces outside the metropolitan area, Jeonbuk’s auction price ratio rose 4.5 percentage points from the previous month to 78.7%, the largest increase. Chungbuk (83.9%) and Gangwon (83.4%) rose 2.8 and 2.0 percentage points, respectively, while Gyeongnam (78.6%) and South Chungcheong Province (80.3%) also posted increases. Gyeongsangbuk-do (76.3%) and Jeju (75.2%) fell 2.3 and 0.3 percentage points, respectively.
The apartment auction price ratio in Sejong rose 2.1 percentage points from the previous month to 83.6%, while the ratio in Gwangju and South Jeolla Province increased 3.7 percentage points to 76.6%.

[email protected] Choi A-young Reporter