Chart of the Day: Luxury home sales volume plunged 58.1% in Q2
This is despite a 3.7% dip in new sales prices.
This chart from OrangeTee & Tie showed that the number of luxury homes sold in the Core Central Region (CCR) dropped 58.1% QoQ in Q2 to 404 from the 962 units in Q1.
On a YoY basis, luxury home sales crashed 35.2% from the 622 units sold in Q2 2019.
Also under the luxury segment, resale prices held relatively steady compared to new sales over the past few quarters. In Q2, the average unit price of non-landed resale homes in CCR held relatively steady at$2,056 psf, rising 2.1% from the $2,014 psf in Q1.
On the other hand, prices of non-landed new sales dipped by 3.7% QoQ to $2,444 psf in Q2 from $2,539 psf in Q1.