Private condo resale volume jumped 25.5% in May

Prices jumped 10.8% from last year.

Resale volume for May dipped 0.6% from 1,570 units resold in April. However, it dramatically jumped 25.5% from 1,243 units last year to 1,560 units, SRX Property revealed.

According to flash data, the prices of private condo resales in May jumped 1.2% from last month and 10.8% from last year

CCR and OCR recorded a price increase of 1.3% and 1.8% from last month respectively, whilst RCR prices remained unchanged. On a yearly basis, prices in CCR, RCR, and OCR jumped by 11.2%, 11.4%, and 9.9% respectively.

Meanwhile, the majority of units were resold $18,000 over the computer-generated value, based on the overall median Transaction Over X-Value (TOX) of POSITIVE $18,000 in May.

District 9 posts highest median T-O-X. For districts with more than 10 resale transactions in May 2018, District 9 (Orchard, Cairnhill, River Valley) posted the highest median T-O-X at POSITIVE $80,000.

Among relatively active districts, District 25 posts the most negative median T-O-X. District 25 (Kranji, Woodgrove) posted a T-O-X of NEGATIVE $7,000.

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