The price reduction is not significant according to Bien'ici - Journal de l'Agence.

In the third quarter of 2023, Bien'ici published its quarterly barometer Stat'ici, focusing on the real estate market. The figures indicate a relative decrease in prices and a steady increase in the supply of properties for sale.

Increase in the supply of real estate for sale

The real estate listings for sale continue to grow since the fourth quarter of 2022, illustrating the tension in the market. Houses and three-room apartments remain the leaders among market offerings, accounting for over 70% of the total.

Extension of ad placement time

The complications facing the real estate market today have numerous consequences for the entire industry, affecting all participants, including real estate agencies, which are seeing an increase in their property inventory and listings that remain online for longer. The duration of listings on the Bien'ici platform has significantly increased by more than 120 days. Over the past three months, the duration of listings on the Bien'ici website has grown considerably. The average duration of a house sale listing is 74 days.

A 43% decrease in demand for the advertisement (over the year)

The pressure in the real estate market is decreasing across France. With an increase in supply of almost 50% in urban, suburban, and rural areas, the pressure is proportionally decreasing. At the regional level, the regions of Occitanie, Provence-Alpes-Côte d'Azur, and Burgundy-Franche-Comté have higher pressure on the Bien'ici platform than the rest of the country.

Displayed prices: significant differences between regions

Real estate prices per square meter vary from region to region and from type of property to type. Supply and demand shape real estate prices, and these prices fluctuate based on various criteria. Examples with displayed prices in different regions.

Only a relative decrease in displayed prices

Real estate prices are starting to decline. However, this decrease is relative: while apartment prices are falling by 1.5% over the year, house prices, on the contrary, continue to rise by 2.5%, still supported by the effects of COVID and the desires of the French to have more spacious housing.

Price changes in major cities of France

Cities that have experienced high demand, such as Angers, Amiens, or Nantes, are seeing a price drop of 12% over the year. Lille, the tenth largest city in France by population, is experiencing an 11% decrease in real estate prices, with a price of 3,541 euros per square meter. In contrast, the capital of Champagne is a city where real estate prices have risen by 11% over the year. The reasons: just an hour's train ride from Paris, close to major highways, and located among vineyards, Reims is increasingly attracting city dwellers.

Real estate prices on the coast continue to rise.

In conclusion

According to Réji Sebil, responsible for data analytics and web analytics at Bien'ici: "We are in a market where supply and demand no longer meet as easily as they did two years ago, and there is a need for price balancing and partial efforts from sellers. However, prices are not decreasing as much as buyers' financial capabilities are, with interest rates having doubled over the year and expected to rise further in the coming months. The market is certainly slowing down, but it is not stagnant yet. Interest is still present, with various opportunities and, above all, with the constantly changing criteria for searching for real estate, which in recent years have acted as a real 'dynamo' in the real estate market."