The fall in sales has slowed significantly over the last twelve months according to the Orpi network of real estate agencies. Buyers are notably returning to the metropolises.
© Pascale Gueret/Adobe Stock
After a year 2023 marked by a drop in the number of transactions, the real estate market is finally recovering. According to the Orpi real estate agency network, the decline in sales volume slowed significantly to reach -7% year-on-year in the third quarter of 2023 nationally, compared to -16% at the end of June in the same period. period. “If the French seem to be returning to the path of stone, real estate has not yet returned to its pre-crisis standards”comments Guillaume Martinaud, president of the Orpi cooperative. Some markets are showing positive signs but disparities persist, which are exacerbated by a tense economic and political climate.»
Among the metropolises, Toulouse is the city showing the strongest growth with an increase in sales volume of +15% year-on-year, in the third quarter of 2023, according to the Orpi network. “In the pink city, sellers are maintaining their efforts to lower prices, allowing the markets to return to a more dynamic cycle», continues Guillaume Martinaud. Prices actually fell by -5% year-on-year in Toulouse in the third quarter of 2024 to reach 3,130 euros per square meter, which had the effect of bringing buyers back. Same trend in Nice, where prices also fell over a year, to a lesser extent (-3%). At the same time, the number of sales agreements increased by +4% in the capital of the Alpes-Maritimes. Conversely, Paris has still not emerged from the crisis and saw its number of sales agreements plummet spectacularly over one year in the third quarter of 2024 (-20%).
This slowdown in the decline in sales volume in most large cities is mainly explained, according to Orpi, by the awareness of sellers, who are finally starting to set more reasonable prices. “The price correction work is not finished. To confirm balance and regain a healthy market, prices must now stabilize. But be careful, these signs of market recovery should not lead to euphoria on prices.”
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