Resale volume surged 33.1% as prices stayed flat in May 2015

543 condos were resold.

According to SRX, non-landed Private Residential Resale prices remained flat in May 2015 compared to April 2015. In individual sectors, both RCR and OCR saw price increases of 0.8% and 0.3% respectively, while prices in CCR decreased by 1.2%.

Here's more from SRX:

According to the SRX Non-landed Private Residential Price Index, year-on-year, prices have dropped 2.8% from May 2014. May 2015 prices were down 6.4% from the recent peak in January 2014.

Price change in April has been revised from a 0.7% decrease to a 0.1% decrease.

According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 543 Non-landed Private Residential units were resold in May 2015 , a 4.2% increase compared to 521 units resold in April 2015 .

Year-on-year, resale volume was 33.1% higher compared with 408 units resold in May 2014. Resale volume is down 73.5% compared to its peak of 2,050 units resold in April 2010.

Overall median Transaction Over X-Value (T-O-X) remained neutral. According to SRX Property, the median T-O-X for Non-landed Private Residential is ZERO in May 2015. The median T-O-X for Non-landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

The median T-O-X remained at $0 in May 2015. This means an equal number of people paid above and below, or at the computer-generated market value for their properties.

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