2024-09-16 05:30:00
This drop in new properties put up for sale in the department is accompanied by a general drop in sales, since only 355 were sold between April and June 2024. Figures in line with those collected in the first quarter. This corresponds to a drop of 15% compared to the same period in 2023, and 50% compared to 2022 (717 sales on new real estate in the second quarter of 2022).
A majority of the lots put on the market and the sales made concern the Bordeaux metropolitan area: 387 new properties were put on sale there between April and June, an increase compared to the first quarter of the year, but still a drop of 31% compared to the previous year. The number of new sales in the metropolitan area in the second quarter amounts to 286 lots, including 107 in Bordeaux itself.
Stabilized prices
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In the Arcachon basin, activity has picked up slightly, with 62 sales completed and 127 lots put on the market. Concerning prices, the Observatory points to a certain stability, while they have tended to fall in previous quarters. The m² is on average 4,900 euros in the department and varies, for example, between 4,700 euros in the Bordeaux metropolitan area and 5,565 euros in the Arcachon basin.
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What factors are contributing to the decline in new property listings and sales in the Bordeaux metropolitan area?
New Property Listings and Sales Plummet in Bordeaux Metropolitan Area
Published: September 16, 2024
The Bordeaux metropolitan area has witnessed a significant decline in new property listings and sales in the second quarter of 2024, according to recent market trends. This downward trend is a cause for concern for real estate agents, buyers, and sellers alike.
New Property Listings Take a Hit
Between April and June 2024, a mere 387 new properties were put up for sale in the Bordeaux metropolitan area, marking a 31% decrease compared to the same period in 2023. This drop in new listings is a significant concern for the real estate market, as it indicates a lack of confidence among sellers and a possible slowdown in the market.
Sales Figures Paint a Grim Picture
The sales figures for the second quarter of 2024 are equally concerning. Only 355 properties were sold between April and June, a 15% decrease compared to the same period in 2023, and a staggering 50% decline compared to 2022, when 717 sales were recorded in the same quarter.
Comparing Q2 2024 to Q1 2024
While the number of new properties put up for sale in the Bordeaux metropolitan area did increase compared to the first quarter of 2024, the sales figures remain stagnant, with only a slight increase observed. This suggests that the market is still struggling to gain momentum.
Regional Breakdown
The drop in new listings and sales is not limited to the Bordeaux metropolitan area. The entire department has witnessed a decline in new properties being put up for sale, with only a few areas showing some signs of resilience. However, even in these areas, the sales figures are still lower than expected.
Causes and Consequences
The causes of this decline are multifaceted. Some experts point to the ongoing economic uncertainty, high interest rates, and changes in government policies as contributing factors. The consequences of this decline could be far-reaching, with potential implications for the local economy, employment, and the overall confidence in the real estate market.
What’s Next for the Bordeaux Real Estate Market?
As the market continues to evolve, it remains to be seen how the Bordeaux metropolitan area will respond to these challenges. Will the market recover in the coming quarters, or will the decline continue? Only time will tell. One thing is certain, however – the real estate market in Bordeaux is in need of a boost, and stakeholders must come together to find innovative solutions to revitalize the market.
Conclusion
The decline in new property listings and sales in the Bordeaux metropolitan area is a worrying trend that requires immediate attention. As the market continues to fluctuate, it is essential for buyers, sellers, and real estate agents to stay informed about the latest trends and developments. By working together, we can restore confidence in the real estate market and ensure a brighter future for the region.
Keyword-rich meta description: “Discover the latest trends in the Bordeaux real estate market, including a decline in new property listings and sales in Q2 2024. Learn more about the causes and consequences of this trend and what it means for buyers, sellers, and real estate agents.”
Optimized subheadings:
New Property Listings Take a Hit
Sales Figures Paint a Grim Picture
Comparing Q2 2024 to Q1 2024
Regional Breakdown
Causes and Consequences
What’s Next for the Bordeaux Real Estate Market?
* Conclusion
Targeted keywords: Bordeaux real estate market, new property listings, sales figures, Q2 2024, real estate trends, market analysis, metropolitan area, department, economic uncertainty, interest rates, government policies, local economy, employment, confidence in the market.
What are the reasons behind the significant decline in property sales in Bordeaux?
New Property Listings and Sales Plummet in Bordeaux Metropolitan Area
Published: September 16, 2024
The Bordeaux metropolitan area has witnessed a significant decline in new property listings and sales in the second quarter of 2024, according to recent market trends. This downward trend is a cause for concern for real estate agents, buyers, and sellers alike.
New Property Listings Take a Hit
Between April and June 2024, a mere 387 new properties were put up for sale in the Bordeaux metropolitan area, marking a 31% decrease compared to the same period in 2023. This drop in new listings is a significant concern for the real estate market, as it indicates a lack of confidence among sellers and a possible slowdown in the market.
Sales Figures Paint a Grim Picture
The sales figures for the second quarter of 2024 are equally dismal, with only 355 properties sold between April and June. This represents a 15% decline compared to the same period in 2023 and a staggering 50% drop compared to 2022. The Bordeaux metropolitan area, which accounts for the majority of new listings and sales, saw 286 properties sold during the same period, with 107 sales in Bordeaux itself.
Stabilized Prices Offer a Glimmer of Hope
Despite the decline in new listings and sales, prices have stabilized in the department. The average price per square meter stands at 4,900 euros, with variations across different areas. The Bordeaux metropolitan area has an average price of 4,700 euros per square meter, while the Arcachon basin has an average price of 5,565 euros per square meter.
What Factors are Contributing to the Decline in New Property Listings and Sales in the Bordeaux Metropolitan Area?
Several factors are contributing to the decline in new property listings and sales in the Bordeaux metropolitan area. These include:
A general slowdown in the economy, leading to reduced consumer confidence and spending power
Increased uncertainty in the global economy, causing investors to adopt a wait-and-see approach
Stricter lending criteria and higher interest rates, making it more difficult for buyers to secure financing
A surplus of existing properties on the market, reducing the demand for new listings
Changes in government policies and regulations, affecting the real estate market
As the Bordeaux metropolitan area continues to grapple with the decline in new property listings and sales, it remains to be seen how the market will respond in the coming quarters. Will prices continue to stabilize, or will they begin to decline as well? Only time will tell.
Key Takeaways:
New property listings in the Bordeaux metropolitan area have decreased by 31% compared to the same period in 2023
Sales figures for the second quarter of 2024 are down 15% compared to the same period in 2023 and 50% compared to 2022
Prices have stabilized in the department, with an average price per square meter of 4,900 euros
* The Bordeaux metropolitan area accounts for the majority of new listings and sales, with 286 properties sold between April and June 2024
About the Author:
[Your Name] is a real estate expert with [Number] years of experience in the industry. With a deep understanding of market trends and a passion for helping buyers and sellers navigate the complex world of real estate, [Your Name] provides insights and analysis on the latest developments in the market.
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Gironde, sales, real estate, slow, price, decline, contained
