fewer goods for sale and prices that remain high
Unlike the Normandy coast where the price continues to soar, the real estate market in Caen (Calvados) remains stable. Prices are not falling but seem to have a plateau effect. As for the volume of transactions, it is rather down.
In a national real estate market that is still buoyant in 2022, Normandy continues to benefit from the post-Covid effect. At the end of June, the median price was up 6.7% for an old apartment and 9.4% for a house.
In Normandy, median property prices are on the rise almost everywhere, with more significant increases on the Channel coast. In Calvados, they blaze in Bessin and in the north of the Pays d’Auge. In this last sector, it reaches 4,290 euros per m², far ahead of the city of Caen.
2022 remains a very good year for real estate in Normandy. We emptied the stocks, especially in Calvados. On a less volume, but that’s normal. We had climbed so high in 2022. A landing in prices and volumes seems to be looming for 2023.
Catherine DecaenPresident of the Chamber of Notaries of the Court of Appeal of Caen
In the prefecture of Calvados, the prices of the old remain high but seem to have reached a ceiling. The median price for an old house in the metropolis of Caen increased by 8.3% to 250,000 euros. As for the city of Caen intramural, it is displayed at 292,500 euros, an increase of 5.8%.
In detail, in the city of Caen, the market for old houses remains stable. The volume of goods for sale is rather down, which favors maintaining the price at a high level. But if prices stay high, they stop rising.
Prices do not decrease because supply is less dense. The balance in the discussion is restored between the buyer and the seller, whereas a year ago, the selling price was not debatable. The market is rebalancing.
Frederic VioleauNotary in Caen
In the old town center of the city of William the Conqueror, apartments with two or three rooms are highly sought after. The largest apartments are rare because there are very few of them. Families who can fall back on houses. Here too, the market is rather tense due to a rarer supply. The m² remains unsurprisingly more expensive in the old city center (3,600 euros). It reaches 3,350 euros in the university sector, 2,860 euros in the Saint-Jean district or 2,410 euros in the Maladrerie district.
The housing stock in this western district of Caen has been the subject of a renovation program for around ten years. Direct consequence on the prices of apartments, very low in the 60s, they go up regularly each year to reach today 2,210 euros per m², not very far from the median price on the whole of the city which is 2,640 euros per m².
For new buildings, the median price per m² on the collective market increased by more than 12% in the city of Caen. The demand relates to goods of 2 to 3 rooms which represents 80% of the volume of sales.