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While market observers say demand for resale condos remains relatively steady, property agents are seeing a noticeable shift on the ground \u2013 some homes are now sitting on the market for months.<\/span><\/p>\n \u201cBy comparison, when the market is hot, properties sell in under a month and some even on the first day of showing,\u201d said Ms Vivian Chong, an associate senior district director at Huttons Asia.<\/span><\/p>\n Concerns about the economy and jobs have made buyers more cautious, realtors said.\u00a0<\/span><\/p>\n Also, with more than 20 new condo launches this year adding to an already substantial pool of resale units, buyers have become more selective.<\/span><\/p>\n \u201cIn terms of volume, the market is not falling \u2026 but there may be a slower pace of sale because too many choices and people (are taking) longer to decide,\u201d said ERA’s Mr Lim.<\/span><\/p>\n PropNex\u2019s senior associate division director Jack Sheo said buyer sentiment has been volatile in 2025. The resale market started the year strong amid expectations of falling interest rates, cooled in the second quarter due to global economic uncertainties, perked up in the third quarter then turned subdued again as new launches captured attention.<\/span><\/p>\n His longest-running listing \u2013 a three-bedder in D’Leedon \u2013 has been on the market for more than seven months. While located in the prime Farrer area near top schools like Nanyang Primary and Raffles Girls\u2019 Primary, the unit is currently tenanted, hampering viewing availability and deterring buyers seeking immediate occupancy.<\/span><\/p>\n With the tenancy ending, \u201cserious offers\u201d have come in, said Mr Sheo, adding that the unit\u2019s owner has been understanding about the long search for a buyer.<\/span><\/p>\n But not all home owners can afford to wait. For sellers needing to move quickly, price adjustments have become necessary.<\/span><\/p>\n This was the case for Mr Ric Kua. In need of a bigger space for his family of four, the sales manager put his 872 sq ft two-bedder on the market in March. He had expected a quick sale like his previous home, which sold within six weeks. Instead, the search for a buyer this time took almost three months, with offers falling short of expectations.<\/span><\/p>\n He eventually accepted an offer of S$1.6 million (US$1.23 million), about 5 per cent below his target, mindful of the time needed to secure a new home for his family returning from overseas.<\/span><\/p>\n