Why Your Condo Is Taking Longer to Sell (And What You Should Do About It)

Published by Chloe | Real Estate

You listed your condo three months ago. You expected offers within weeks. But your phone isn't ringing the way it used to.

You're not alone. Right now, condos in Singapore are sitting on the market much longer than before. Sellers are frustrated. Buyers are taking their sweet time. And if you're caught in the middle of a house move—maybe for your kid's new school or a job transfer—this slowdown can feel like a nightmare.

Here's what's actually happening: buyers and sellers can't agree on price.

Sellers want yesterday's prices. Buyers don't want to pay them. And the properties? They just wait.

Why Is This Happening? (And Why Should You Care?)

The Real Reason: Money Matters More Now

Life has gotten more expensive. Your grocery bills are higher. School fees keep climbing. Your mortgage payments have increased because interest rates went up.

So when you're looking to buy a condo, you're not just thinking about the property—you're thinking about whether you can actually afford it while still paying for everything else your family needs.

This is why buyers are being pickier. They're asking themselves: "Can we really afford this, or are we stretching ourselves too thin?"

What Sellers Don't Realize

Many sellers listed their condos at prices based on what they hoped to get, not what the market actually pays right now. They remember when properties were flying off the market. They remember bigger price tags.

But that was then. This is now.

If You're Planning to Sell

Your timeline just got longer.

• What took 4-6 weeks to sell might now take 3-4 months

• You'll keep paying your mortgage, maintenance fees, and property taxes while waiting

• You might feel pressure to eventually lower your price anyway

  
  

The emotional toll is real.

• You've already mentally "moved on" from this place

• You're stressed about the uncertainty

• You might be frustrated watching other similar units listed after yours still not sold

  
  

If You're Planning to Buy

The good news: you have options.

• More properties to choose from means you're less likely to make a rushed decision

• You have leverage to negotiate, not just on price but on other terms too

• You have time to really think about whether this is the right move for your family

  
  

The bad news: decision paralysis is real.

• You might spend months searching without committing

• You see five similar units and can't decide which is "best"

• You keep waiting for prices to drop further, and miss out on properties you actually like

  
  

If You're Selling Your Condo

1) Stop thinking like it's 2021. Your neighbor's condo sold for $1.2 million two years ago—but that was two years ago. Price your property based on what similar units are actually selling for this month, not what you paid or what you think it should be worth.

✓ Action step: Get a real valuation from at least 2-3 agents. Compare it with actual sold prices (not asking prices) of similar units nearby. That's your reality number.

2) Make your place actually attractive to busy parents. You're competing with dozens of other condos. Parents don't care about fancy features they don't use.

They care about:

• Is the kitchen functional for cooking family meals?

• Are there enough bedrooms for kids and guests?

• Is it near good schools?

• Is it safe for children to play outside?

  
  

✓ Action step: Clean it properly. Fix obvious issues like leaky taps and chipped paint. Take clear photos showing real family life, not magazine-style emptiness.

3) Be flexible with showings. Parents work. They have kids. They can't always come on weekday afternoons. Offer weekend viewings, evening slots, or even virtual tours for serious buyers.

✓ Action step: Tell your agent: "I'm available for viewings on weekends and after 6 PM on weekdays."

If You're Buying a Condo

1) Stop waiting for the "perfect" property or perfect price. You could wait forever. Instead, decide what's actually important to your family and stop obsessing over small details.

✓ Action step: Write down 5 non-negotiables (e.g., near school, good condition, within budget) and 5 nice-to-haves (e.g., nice view, modern kitchen). If a property has the non-negotiables, stop waiting for something better.

2) Get your finances sorted before you start seriously looking. Tell your bank how much you can actually afford—not the maximum they'll lend you, but what you can comfortably pay while still having money left over for life.

If the bank says you can borrow $800k but that would mean your mortgage payment is 40% of your salary, you can't afford it. Period.

✓ Action step: Meet your bank and get pre-approval for a realistic amount. This proves to sellers you're serious, and it helps you move fast when you find the right place.

3) Don't get emotionally attached before making an offer. Yes, the condo has a nice balcony and the kids love the common playground. But if it's overpriced or has problems, no amount of love will fix that.

✓ Action step: When you find a place you like, spend 24 hours thinking about it before calling the agent. Visit the neighborhood at different times. Ask yourself: "Would I be happy here in 5 years if my circumstances change?"

The Simple Truth: What You Really Need to Know

For sellers: Your condo is worth what someone is willing to pay for it today , not what you think it should be worth or what it sold for years ago. Price realistically, and it will sell. Hold firm on an unrealistic price, and it will sit empty while you pay the bills.

For buyers: You have more power than you think right now. Use it to make smart decisions, not rushed ones. But don't wait forever—at some point, you need to decide and move forward.

For everyone: This slowdown is actually a gift if you use it right. It forces you to think carefully instead of acting on emotion. Your family's home is too important for emotional decisions.

What Should You Do This Week?

If selling:

• Research 3 recent sales of similar units in your block

• Compare their asking prices vs. selling prices (there's usually a gap)

• List at a realistic price, even if it's lower than you hoped

  
  

If buying:

• Figure out your real budget (what you can comfortably afford, not the maximum)

• Write down what your family actually needs in a home

• Start viewing properties with zero pressure to buy quickly

  
  

If unsure:

• Talk to someone who's bought or sold recently. Ask them how long it took and whether they'd do anything differently

• Stop reading news articles about "property market predictions." Focus on your family's needs instead.

  
  

The condo market slowdown isn't a disaster—it's just a market adjustment. People are being more careful with their money. Properties are taking longer to sell. Buyers have more choices.

For you, this means:

• More time to make good decisions

• Less pressure to rush

• A clearer sense of what properties are actually worth

  
  

Whether you're buying or selling, the secret is the same: be realistic, be flexible, and focus on what actually matters to your family—not on what you think a property "should" cost.

Your home is one of the biggest decisions you'll ever make. Take the time to get it right.

Disclaimer: This article is for educational purposes. All investment decisions should be made in consultation with a qualified real estate advisor.

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