There are also good reasons to sell-yes it is no longer a sellers market BUT it is still a good time to sell (and I put my money where my mouth is-I just sold 2 of my own properties and have another 2 listed):
-unless you bought in the past year, you are going to do very well even though you may not have sold at the peak (greed kills-no point in crying over spilled milk)
-if you are selling to upgrade, then even if you did buy in the last year, you are likely making more in the savings on the more expensive property than you would theoretically lose on your sale (but really no loss-its money you didn't have and who does this kind of thinking on other investments?)
-it is very hard to time the peaks and do you really want to wait as long as it may take to peak again? makes more sense to just get on with one's life
-this market remains very strong-last week we had multiple on 3 properties; the week before on one-if a property is priced right it will sell
-you are getting tax free money if it is principal residence-take this gift and run
Just my opinion!