{"id":62631,"date":"2022-12-26T17:25:02","date_gmt":"2022-12-26T09:25:02","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=62631"},"modified":"2023-02-28T23:52:24","modified_gmt":"2023-02-28T15:52:24","slug":"when-right-time-sell-house","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/when-right-time-sell-house\/","title":{"rendered":"When is the right time to sell your house?"},"content":{"rendered":"
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Figuring out when is the right time to sell your house<\/a> is hard. Even more so in the current property market, when prices are at an all-time high, but interest rates are increasing and there are signs of an impending economic slowdown.<\/p>\n

Can you really time the market when it comes to selling your house?<\/h2>\n

Whether it\u2019s buying or selling a house, it\u2019s hard to predict when prices will hit an all-time low or reach a new peak.<\/p>\n

Even with property transaction data, it\u2019s hard to predict the direction of the price movement. After all, these are historical data; they\u2019re recorded after the deals have been sealed. There\u2019s a time lag between what\u2019s happened in the market and what’s recorded.<\/p>\n

And who could have predicted that a couple of years after the pandemic hit, housing prices here would reach an all-time high?<\/p>\n

Speaking of all-time high prices, let\u2019s say you decide to sell your condo unit now because condo resale prices are now at their peak and have been increasing for the 28th consecutive month<\/a> (at the point of writing).<\/p>\n

\"Price<\/a>
As of 22 Dec 2022, the average price psf of a resale condo in the respective market segments are S$2,135 in the CCR, S$1,601 in the RCR and S$1,269 in the OCR.<\/figcaption><\/figure>\n

But that would also mean you\u2019ll miss the opportunity to sell at a higher price and gain more profit, should prices soar even higher.<\/p>\n

Rather than trying to predict if prices will continue to increase, it may make more sense to consider the current market we\u2019re in (which is a seller\u2019s market at the point of writing). But this may be more applicable if you treat your house as an investment. If the main reason to sell the house is to maximise gains<\/a>, it makes sense to sell it during a seller\u2019s market.<\/p>\n