Chart of the Day: Check out the price range of condos sold in OCR in Q2

Units priced between $1m to $1.5m comprised the bulk of sales.

This chart from OrangeTee & Tie shows that majority of homes bought in the Outer Central Region (OCR) were priced at $1m and above.

In the second quarter, 60% of condos were sold at $1m and above, whilst 3.7% were above $2m. About 0.3% of total transactions were above $3m.

A total of 1,879 condo units were sold in the OCR in Q2, a 9.2% QoQ increase compared to the previous quarter.

“The affordability threshold of buyers continued to rise such that the majority of homes were bought at $1m and above,” said OrangeTee & Tie.

A separate report from Edmund Tie notes that the proportion of new units priced below $1m fell to 24% in Q2 2019 from 37% in the previous quarter and the share of units above $1.5m grew to 35% from 25%, suggesting the growing preference of buyers for costlier and larger average units.