Condominium prices in Sweden have varied sharply between different counties in Sweden, where Stockholm County has had significantly higher price levels than Örebro County during the period 2010 Q1–2023 Q4. This study aims to explain these differences by examining the effect of economic and structural variables on price per square metre. In the analysis a Time Series Analysis is applied to quarterly panel data to understand the relationships between condominium prices and the variables earned income, population density, new construction per inhabitant, unemployment, housing supply, interest rate levels as well as a time factor. The literature study provides a background to how fundamental factors and institutional constraints affect price formation in the housing market. The theoretical framework focuses on the relationship between supply, demand and price formation, with special emphasis on how urbanisation and new construction affect the market. The results show that earned income, population density and new construction have strong, positive effects on prices, whereas unemployment and interest rates do not produce clear effects.