Condo resale volume surges 129.4% to 1,475 units in November

Prices also rose 6.2% YoY.

The resale prices of non-landed private residential rose 6.2% YoY and 0.5% MoM, the Singapore Real Exchange (SRX) revealed.

According to flash data, all individual sectors - Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR) saw price jumps of 1.4%, 0.1%, and 0.3%, respectively.

The CCR index also hit a new high at 166.3. This is 1.2% higher than the last peak in Oct 2013.

Meanwhile, around 1,475 units were resold within the month, a 129.4% surge from last year's 643 units and a 0.9% jump from October's 1,462 units.

Here's more from SRX:

The median transaction over x-value (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 in November 2017 is POSITIVE $12,000. This is a $6,000 increase comparing to POSITIVE $6,000 T-O-X in October 2017.

For districts with more than 10 resale transactions in November 2017, District 11 (Newton / Novena) posted the highest median T-O-X at POSITIVE $80,000. This means that a majority of the buyers in those districts purchased units above the computer-generated market value.

District 12 (Balestier / Toa Payoh) posted a T-O-X of NEGATIVE $9,000. This means that a majority of the buyers in these districts purchased units below the computer-generated market value.

Photo by CEphoto, Uwe Aranas