Thoughts on the Paris housing market, summer edition

My latest 100% anecdotal, completely unscientific observation: I’ve noticed, and maybe this is just wishful thinking, that lately the market appears to be more favorable for buyers.  The first sign was that apartment down the street that had to be reduced €15k before selling.  Now I’ve started getting emails with subjects like “just reduced!”  This seems to contradict the latest findings from the Paris Notaries that prices have increased 5% over the past year, but actually I think it has more to do with timing.  It’s the soldes, it’s summer, many people are or will be on vacation, and so perhaps fewer buyers are actively (and reactively) looking.  Or so I hope.

Relatedly, apartments are staying on the market for longer than we’ve been accustomed to – ie, more than an hour.  A few months ago it would be rare to receive multiple email alerts for the same apartment unless it was undesirable (ground floor, no light, etc), but lately I’ve seen the same listings pop up in my inbox repeatedly.  For example, last week a realtor called me about two apartments she had for sale in the 9th, in the same building.  One sounded great, except for the asking price.  At 9500€/m2 I politely refused, got off the phone and exclaimed to my companion “elle est tombée sur la tête!”  She’s nuts!  9500€/m2 would be the deal of the century for an apartment in the 6th, but not in the 9th on a street where the average is 7300€/m2.  Lo and behold, a week later I get an email alert – both apartments are still for sale. View the listing while it’s still up — and it will be up for awhile at that price! — here.  I wonder what it will eventually sell for and if someone will suck it up and pay the asking price.

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One Response to “Thoughts on the Paris housing market, summer edition”

  1. Struggler Says:

    Great to hear things might be moving in your favor, just a little.
    And I love the tombee on the tete expression 🙂

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