Has the market slowed in April 2022?
Well properties are taking longer to sell, yes.
That means we are returning to a more stable market where, as per 2019/2020, homes were on the market for 30-60 days that was normal.
As we ease into a more balanced market, with more property choices for buyers, both sellers and buyers will have to readjust expectations of days on market and price.
There is no more panic buying. Buyers have more options and more time. Many are arming themselves with Buyers Agents to give them peace of mind when buying the biggest asset of their lives.
Also, just because it is a slower market, does not automatically mean prices have dropped - it’s just that we are not going to see the extraordinary capital gains of 65%-85% and in some cases 100% that made 2021 notable.
I am always asked "should I wait until prices come down to buy?"
Answer this - Do you wish you had purchased 10 years ago, 5 years ago, 1 year ago? Yes Yes Yes!
