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Timing is everything in real estate, and Singapore’s dynamic property market is no exception. Whether you’re looking to upgrade, downsize, or capitalise on your investment, choosing the right moment to list your home can significantly impact the outcome of your sale, both in price and speed. Explore the factors influencing when is the best time to sell a home in Singapore, from seasonal trends to economic indicators.
When is the best time to sell your home
While conventional wisdom has long held that the middle of the year is the optimal period for selling property in Singapore, our in-depth analysis reveals a more complex picture. The ‘best’ time to sell is not a one-size-fits-all proposition, but rather a moving target influenced by a myriad of factors.
Our research, which spans five years, has uncovered significant fluctuations in sales volume and price per square foot across different seasons. These variations, illustrated below, highlight the importance of considering current market dynamics when timing your sale.
| Quarter | 2019 Units Sold | 2019 PSF (SG$) | 2020 Units Sold | 2020 PSF(SG$) | 2021 Units Sold | 2021 PSF(SG$) | 2022 Units Sold | 2022 PSF(SG$) | 2023 Units Sold | 2023 PSF(SG$) |
| Q1 | 622 | $1,784 | 675 | $1,806 | 1271 | $1,744 | 816 | $1,856 | 903 | $1,986 |
| Q2 | 775 | $1,809 | 297 | $1,848 | 1441 | $1,783 | 1178 | $1,868 | 937 | $1,948 |
| Q3 | 769 | $1,815 | 962 | $1,693 | 1481 | $1,798 | 1130 | $1,915 | 851 | $1,918 |
| Q4 | 835 | $1,834 | 1122 | $1,691 | 1326 | $1,827 | 798 | $1,977 | 859 | $1,974 |
Data retrieved from EdgeProp Market Trends for resale properties in the Central Region.
Our analysis of Singapore’s property market from 2019 to 2023 focuses on two crucial metrics: sales volume and price per square foot (PSF). The first and third quarters (Q1 and Q3) typically see higher sales volumes, suggesting strong buyer activity. Sellers aiming to attract the most interest might consider listing in these periods.
However, the fourth quarter (Q4) consistently shows higher PSF values, particularly noticeable in 2022 and 2023, indicating sellers looking for a better price per square foot may find their goals met during this time.
This volume-value dichotomy presents a strategic choice for sellers: opt for higher visibility and potentially quicker sales in Q1/Q3 or aim for premium pricing in Q4. That’s why the best time to sell a home extends beyond seasonal trends and is inherently personal.
Sellers must consider their specific financial goals, such as achieving a certain return percentage or selling within a defined timeframe. If sellers aren’t clear on what to prioritise, comprehensive financial planning can help determine these targets by considering factors like retirement goals or reinvestment plans. This can also help you with some measure of flexibility if the circumstances or your needs change. For instance, selling earlier might be advantageous if market conditions align with your investment goals sooner than expected. Conversely, ensuring sufficient sale proceeds for the next purchase is crucial when upgrading.
Other considerations include evaluating the opportunity cost of selling now versus future gains, assessing your property’s current market advantage, and aligning with your target buyer group’s peak activity. Staying informed about government policies, economic indicators, and global events impacting local property demand is also vital.
While historical trends provide valuable insights, the best time to list your property is determined by analysing current market conditions and your unique circumstances. By synthesising market intelligence with personal goals and property specifics, you can strategically position your sale, maximising financial returns and alignment with personal objectives. In Singapore’s dynamic property market, informed, data-driven decisions are key to successful outcomes.
Pricing Is King
The line between a timely sale and a missed opportunity often hinges on strategic pricing. Success lies not in setting the most ‘impressive’ price tag but understanding market dynamics and nuanced valuation.
An overly ambitious price may deter potential buyers, resulting in reduced viewings and protracted negotiations, potentially culminating in a below-value sale. Conversely, underpricing risks financial shortfall and attracting unqualified buyers. A lingering property can depreciate in perceived value, providing buyers leverage for aggressive negotiations.
Luxury real estate pricing needs to strike a balance. A fair valuation that attracts serious buyers and facilitates smooth negotiations. This equilibrium is best achieved through market insight, strategic positioning, and expert guidance.
Enlisting seasoned professionals is crucial. Through rigorous comparative market analysis and understanding current trends, experts like our team at Singapore Luxury Homes (SLH) can pinpoint an optimal price point, helping sellers navigate market complexities and maximise returns while ensuring their property finds its ideal match efficiently.
Field Offers and Counteroffers
Selling your home opens doors to opportunities but can be complicated, especially as offers arrive. This is where your trusted real estate agent’s invaluable role becomes evident, guiding you through the negotiation process.
When you receive an offer, understanding its significance goes beyond reviewing figures. Your SLH agent’s expertise becomes crucial in assessing every aspect, including price, contingencies, closing dates, and specific requests. They evaluate the offer against current market dynamics and similar properties. They’ll also note your preferences between a swift transaction or the best possible offer, tailoring the negotiation to your goals. If the initial offer falls short, they’re ready to articulate a counteroffer that matches your criteria while remaining competitive in the current market. Through adept negotiation, they strive to reach a consensus between both parties.
Not all situations warrant a counteroffer. Depending on how closely an offer aligns with your requirements, your agent may advise acceptance or rejection. Their expert advice is designed to guide you to the most informed decision at each stage.
Selling your home is a significant endeavour, with navigating offers being one of the more challenging aspects. With a skilled SLH agent, you can move forward confidently and be assured of achieving the most favourable outcome.
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Professional assistance in selling your property can provide significant benefits, including thorough financial planning, premium marketing services, professional photography, guided home viewings, and skilled negotiation. These services can lead to faster sales and higher prices, saving you considerable commission fees while ensuring maximum exposure and an optimised selling process.
Ultimately, the decision on when to sell should be informed by a combination of market insights, personal financial goals, and strategic considerations about property value and potential buyer interest. If you’re thinking about selling your home, contact Singapore Luxury Homes for an expert consultation with our real estate professionals to support you through the selling process.
