Resale condos stay on the market longer, as buyers take their time and sellers hold firm on prices
Resale condominium units in Singapore are remaining on the market significantly longer as buyers exercise more caution and navigate an increasingly competitive landscape. As of May 18, 2026, active resale listings created in the first quarter of the year reached a median age of 81 days, according to data from PropertyGuru, nearly doubling from the 45-day median recorded in 2022.
The median age for resale condo listings on 99.co surged to 106 days in the first quarter of 2026, a sharp increase from the 66-day median recorded during the same period in 2025.
Shifting market dynamics
The urgency that characterized the post-Covid-19 market peak has subsided, according to Yao Lu, managing director of PropertyGuru Singapore. Buyers now have a broader selection of units and are taking more time to evaluate their options before committing. This trend is consistent across all regions, including the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR).
The impact is most pronounced in the CCR, where the median age of active listings rose to 145 days in the first quarter of 2026, up from 76 days a year prior, as reported by 99.co. Market conditions have moved in favor of buyers, who are increasingly hesitant to meet high asking prices or accept seller demands for lease extensions, a common friction point in current negotiations.
The data suggests a transition from a seller-dominated environment to one where buyers are leveraging the abundance of inventory to negotiate. While asking prices remain firm, the disconnect between seller expectations and buyer willingness to pay is creating a liquidity bottleneck in the resale sector.
Why prices remain firm
Despite the slowdown in transaction volumes—which have fallen for two consecutive quarters—asking prices have not collapsed. PropNex chief executive Kelvin Fong noted that the median resale unit price reached $1,770 per sq ft as of May 19, 2026, rising from $1,747 psf in 2025. This resilience is supported by the fact that new condo sales currently command a median price of $2,554 psf, a 44.3 percent premium over resale units.
Sellers are also anticipating higher replacement costs. Wong Shanting, director and head of research at Newmark Singapore, stated that sellers are holding out for higher prices due to expectations that land costs will push home replacement prices upward over the next 12 to 18 months. Christine Sun, chief researcher and strategist at Realion (OrangeTee & ETC) Group, added that broader macroeconomic uncertainties, including geopolitical conflicts and inflationary pressures from rising oil prices, are contributing to the wider transaction slowdown.
Future market outlook
The resale market could maintain resilience due to the limited supply of newly completed units and the significant price gap between new and resale properties. Analysts expect that recent changes to executive condo rules, which include increased unit allocations for first-time buyers and longer minimum occupation periods, may drive more HDB upgraders toward the resale market. However, if macroeconomic conditions remain volatile, the trend of longer listing durations may persist as potential buyers continue to balance property disposal hurdles with current market pricing.
Frequently Asked Questions
Why are resale condo units taking longer to sell?
Buyers have more choices and are taking more time to shop for the best value, moving away from the urgency seen at the market’s peak. Additionally, many buyers face challenges in selling their own properties before purchasing a new one.
Are prices falling in the resale market?
No, asking prices have remained firm. According to PropNex, the median resale unit price was $1,770 per sq ft as of May 19, 2026, which is an increase from $1,747 per sq ft in 2025.
What factors are impacting the broader property sector?
Christine Sun of Realion (OrangeTee & ETC) Group attributes the slowdown to macroeconomic uncertainties, such as geopolitical conflicts, sectoral layoffs, and inflationary concerns linked to higher oil prices.
Do you believe the current price gap between new and resale condos will continue to influence buyer behavior in the coming months?