Aude: the real estate market is declining in volume and price

The Aude real estate market is facing a drop in transactions and a decline in prices in a tense economic context.

Presented on November 26 in Narbonne by the Chamber of Notaries of Aude, the latest real estate market statistics confirm a marked slowdown. In one year, the number of transactions and prices are declininga consequence of an uncertain economic context and persistent inflation.

The market impacted by a heavy economic context

“The rise in interest rates and inflation last year and at the start of this year, as well as the wait-and-see attitude of buyers linked to international and national economic and political uncertaintieshave had an effect on the local and national real estate market,” according to Me Benoît Duchan, notary in Limoux and president of the Chamber of Notaries of Aude.

Between July 2023 and June 2024, 8,520 properties were sold, compared to 10,540 the previous yeara drop of 19%. Old houses, which constitute the heart of the market, showed a decrease in sales of 17%, with 5,420 transactions recorded. Old apartments follow a similar trend (-16%), while the segments of new houses and apartments record more severe falls: -37% and -39% respectively.

Prices generally falling and notable exceptions

In terms of prices, the trend in the real estate market in Aude is generally downward, with the exception of a few dynamic sectors. The median price per square meter for an old apartment in Aude stands at 2,330 euros/m², down 1.2% over one year. In Narbonne, the price reached 2,070 euros/m² (-2.5%), while in Carcassonne, it increased by 4.7%, to 1,190 euros/m². The seaside areas remain popular: in Narbonne-Plage, the price rises to 3,070 euros/m², up 3.5%.

For old houses, the median price fell by 3.2% over one year, standing at 150,000 euros. The Carcassonne sector, which accounts for 17% of sales, remains dynamic. Over five years, the evolution remains positivewith a cumulative increase of 12% in the department. Finally, the building land market also suffered a notable decline (-9.9%), with a median price of 55,800 euros. Small plots, less than 600 m², represent 53% of sales.

Signs of a recovery in the real estate market in Aude to be confirmed

“It seems that the volume of transactions is on the rise again this summerbut it is much too early to say whether this is a seasonal improvement or the start of a more lasting trend,” says Benoît Duchan.