The first week of winter has been a continuation of the change of pace that we’ve experienced in April and May. Buyers are still there, but the urgency to act has softened and decisions are taking more time.
At our opens, we’re seeing this play out clearly. Buyers are taking their time, requesting second inspections, asking more questions and giving themselves the space to reflect so they feel comfortable before moving forward. There is still intent, but buyers are wanting to feel more confident in their decisions.
With six sales negotiated this week by our team (which is our average) and a number of other offers in play, we are experiencing this shift first hand.
The latest REIWA figures reflect exactly what we’re seeing on the ground. Days on market have moved from nine days in February to 14 days in May. It is a significant shift marking a transitional market. With more choice available and interest rates still influencing thinking, buyers are approaching purchases more carefully.
What this means is that the right buyer is not always the first one through the door. Often, they are the one who comes back, takes the time to understand the home, does their research and steps forward once they feel confident in their decision.
For sellers, this is where the power of patience comes in. Allowing a campaign to build, being open to multiple home opens and private viewings can be the difference between interest and a result.
At the same time, timing remains essential in real estate. When a buyer reaches that point of confidence, they are ready to act. Listening to feedback and considering offers in the context of the current market ensures you are ready to respond when that moment presents itself.
It is a more measured pace, but the fundamentals of the Perth market remain strong. In this environment, understanding the balance between patience and timing is what leads to the best outcomes.
If you’re considering your next move, we welcome a confidential conversation tailored to your needs. We’re here to help.
