Real estate: the cities where sales times are getting longer the most

Capital invites you to discover the average sales times for homes, updated in September 2024, in the fifty largest cities in the country.

Buyers are still waiting. According to statistics provided by our partner Se Loger/MeilleursAgents, the average sales period, i.e. the time between the listing of a property and its actual sale, has increased by an average of 6 days nationally over the last twelve months.The year 2023 has been particularly difficult for the real estate market with a surge in credit rates which has complicated access to borrowing for householdsexplains Alexandra Verlhiac, responsible for statistical and economic studies for Meilleurs Agents. Demand has collapsed, which has mechanically increased sales times.“.

Obviously, the time it takes to sell a property varies greatly depending on the city. Among the largest cities in the country, it is in Tourcoing (North) that sellers take the longest to find a buyer, with an average sale time of 117 days in September. Demand is also down in Besançon (102 days) or Clermont Ferrand (87 days), cities where prices remain moderate (less than 2,500 euros per square meter). More surprisingly, the municipalities of Cannes or Nice, although particularly popular with buyers, also see their sale times remain at particularly high levels (respectively 89 days and 84 days).In these municipalities, sellers have not lowered their prices enough to attract buyers, so they are having a lot of trouble selling their properties.“, continues Alexandra Verlhiac.

Sales times have slightly declined over the past six months

But fortunately for sellers, the situation has improved significantly since the beginning of the year. Mortgage rates have fallen by about 0.5 percentage points in the last six months to an average of 3.7% for 20-year loans. At the same time, property prices have fallen in major cities, giving borrowers more purchasing power. As a result, demand has picked up since the beginning of the year, and the average selling time has fallen by one day over the last six months.

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And good news for owners, sales times should continue to decrease in the coming weeks. With inflation falling, the European Central Bank (ECB) lowered its key rates on Thursday, September 12. Mortgage rates should therefore continue to fall and could approach the 3% mark for 20-year loans by the end of the year.Demand will increase in the coming months, the real estate market is picking up, which should result in significantly reduced sales times from the beginning of next year.” concludes Alexandra Verlhiac.