One of the conversations we’ve been having more frequently with buyers and sellers recently is about expectations.
Over the past twelve months, Perth’s property market has changed significantly. REIWA’s latest figures show there are now 6,795 properties for sale across Perth, which is around double the number available at this time last year. At the same time, sales volumes have eased and the average time on market has extended to 17 days. Buyers are still purchasing homes every day, but with the cost of living, fuel prices and broader economic uncertainty continuing to shape confidence, they’re taking more time and making more considered decisions.
As the market has shifted, one thing has become increasingly clear: it isn’t moving uniformly.
There are markets within markets. Some homes are still attracting multiple buyers and selling quickly, while others require more patience, a different strategy and expectations that reflect today’s conditions rather than those of six or twelve months ago.
Recently we worked with a family who found the home they knew they wanted to raise their children in for many years to come. They chose to increase their offer because they understood the long-term value that home would bring to their family. At the same time, they accepted a little less for the sale of their own home because moving forward held greater value than waiting for the possibility of a stronger offer.
Could they have waited? Absolutely.
Would waiting have guaranteed a better outcome? No.
In fact, we recently worked with another client who chose to wait, only to accept a very similar offer two months later.
When an offer or counter-offer doesn’t quite meet a buyer’s or seller’s expectations, we often encourage our clients to pause and consider four simple questions:
1. What will happen if I accept this offer?
2. What won’t happen if I accept this offer?
3. What will happen if I don’t accept this offer?
4. What won’t happen if I don’t accept this offer?
The answers are different for every family and every circumstance, but these questions provide a simple framework for thoughtful decision-making.
Accepting an offer may mean securing your next home, reducing financial pressure, avoiding months of additional holding costs, taking advantage of another opportunity or simply removing the uncertainty that often comes with having your home on the market.
Choosing not to accept an offer may ultimately result in a higher price or better conditions. Equally, it may mean continuing mortgage repayments, delaying important life plans, missing another opportunity or extending what can already be a stressful period for you and your family. The reality is there is no guarantee that waiting for a stronger offer will actually deliver one.
That’s why working with an agent who is actively negotiating sales in today’s market, understands the subtle changes taking place and can provide advice tailored to your personal circumstances has never been more important.
While none of us can control interest rates, fuel prices or broader economic conditions, we can control the things that have the greatest influence over the outcome. Choosing the right agent. Presenting your home at its absolute best in a market where buyers have more choice. Investing in marketing that reaches the right audience. And adopting a pricing strategy that encourages competition rather than discourages enquiry.
These are the controllables.
If you’re hoping to make a move in spring or summer, now is the ideal time to start gathering information. An appraisal isn’t a commitment to sell; it’s an opportunity to understand where your property sits in today’s market so you can make informed decisions and prepare well before you’re ready to launch.
The earlier you understand today’s market, the more choices you’ll have when the time comes to make your move.
We’d love to help. If you’re considering selling in the months ahead or just curious about where your property sits in today’s market, please reach out for a confidential conversation.
