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is it a good time to sell?

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Although supply and demand are gradually rebalancing in the real estate market, tension remains high. This situation leads owners to hesitate to sell their property. According imkiz fixed price real estate agency, it is precisely the right time to sell your property. Since the decline in selling prices could accelerate in the months to come with the decline in purchasing power. What are the factors that could affect selling prices in the future?

A falling real estate market and plummeting purchasing power

A declining real estate market

Still strong demand from buyers which should encourage sales

The real estate market in France is undergoing a sharp decline after years of post-pandemic record sales. Indeed, prices fall and the number of transactions decreases. The production of real estate loans is also down by nearly 40% compared to last year. Thus, all the indicators are in the red. This confirms a significant drop in the French real estate market which could last over time.

Moreover, in April 2023, the fall in property prices affects all categories of property at the national level, reaching 0.5%. In the big cities, with the exception of Nice, Strasbourg, Lille and Le Havre, the average drop reached 1% in the first quarter. As for the 50 leading cities in France, they recorded a drop of 0.5%. Even rural areas are down, with a drop of 0.1%.

However, the main cause of this decline is the significant rise in interest rates. They have more than doubled in one year, going from 1.13% in March 2022 to 3.03% in March 2023. In fact, this increase in acquisition costs has led to a significant drop in real estate purchasing power.

Indeed, a buyer who needs to borrow €300,000 over 20 years will lose almost €70,000 in financing. In this sense, buyers can no longer afford to buy goods at the list price. However, this does not mean that owners should stop selling, quite the contrary.

Still strong demand from buyers which should encourage sales

“The challenge in the current context is to position your property at the right price. There is clearly demand, but people can no longer afford it. There is a real challenge in selling your property quickly, because the market is bearish and with each passing month the properties lose their value. ” -Guillaume Poutrel, imkiz agent in Lyon.

Despite a fragile real estate market, the Real Estate Tension Index remains stable. The latter reveals a persistent demand for real estate. However, buyers do not want to pay more than the market price, which explains the drop in the number of transactions.

To sell your property before prices fall even further, it is crucial to adapt to market prices. Thus, the seller must offer an attractive price to attract buyers. Properties sold at their fair price are acquired quickly.

In addition, owners now have to deal with new environmental restrictions with the energy audit. Compulsory since April 1, 2023 for goods classified F or G, it will also be required from January 1, 2025 for category E goods.

In conclusion,

In conclusion, the real estate market is currently in a delicate phase, with a looming crisis and growing complexity. However, property owners can benefit from the still stable prices if they seize the opportunity to sell now.

For this, using an online agency like imkiz can be an interesting answer. Indeed, it allows buyers to find more attractive offers without sellers needing to inflate their price to cover the costs of a physical agency.

Trends and developments in the real estate market, particularly in Paris, should be followed closely, based on analyzes and reliable data such as those of the FNAIM Observatory. In this context, knowledge of the outlook is essential for all actors in the residential sector, whether it concerns houses, apartments or rental accommodation.

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