The average time it takes to sell a property continues to increase

Between September 2023 and September 2024, the average time it took to sell real estate continued to increase in many French cities. 

In Tourcoing (Nord), it is now approaching four months, while in several other municipalities, it exceeds three months. However, an improvement is expected thanks to the decline in real estate rates.
 

Although real estate prices have recently fallen, the market is still struggling to recover. In fact, according to data from SeLoger and Meilleurs Agents, as reported by Capital, the average time it takes to sell a home in France increased by six days between September 2023 and 2024. Although the situation appears to have improved since the beginning of 2024, this timeframe remains long in many municipalities.
 

Several factors explain this situation. Among major French cities, Tourcoing (Nord) had the longest average time to sell in September 2024, at 117 days—nearly four months. In Besançon (Doubs), despite prices below 2,500 euros per square meter, the time to sell exceeds three months at 102 days. Clermont-Ferrand (Puy-de-Dôme), where prices are also moderate, faces similar challenges with an average time to sell of 87 days.
 

However, demand is not the only factor at play. In Cannes (Var) and Nice (Alpes-Maritimes), two highly sought-after cities, the average time to sell is 89 and 84 days, respectively. “In these cities, sellers haven’t lowered their prices enough to attract buyers, which makes it harder to sell their properties,” explains Alexandra Verlhiac, head of statistical and economic research at Meilleurs Agents.
 

Is a reversal of the trend on the horizon? 

The challenges buyers face in the current climate are contributing to longer sales times. However, the market is trending in an encouraging direction. Mortgage rates have fallen by about 0.5 percentage points over the past six months, reaching 3.7% for a 20-year term. In addition, real estate prices have declined in many major cities, giving buyers some breathing room.
 

These developments could quickly reverse the trend in average time to sale. After increasing by 18 days between March 2023 and 2024 (from 59 to 77 days), the average time to sale rose by only six days between September 2023 and 2024 and even decreased by one day between March and September, reaching 76 days. 

This decline is expected to continue in the coming weeks, particularly following the European Central Bank’s (ECB) announcement on Thursday, September 12, regarding a cut in key interest rates. As a result, effective rates are expected to return to around 3% for 20-year terms by the end of 2024.