In August 2024, condo resale prices remained relatively stable, with only a slight dip of 0.1 index points compared to July. Regarding the percentage difference, it shows a 0.0% change due to rounding. Historically, August tends to see a slight uptick in resale transactions compared to July. However, this year, the volume of resale transactions decreased, marking the first time this trend has reversed since 2020.
This article delves into the key trends and statistics that shaped the condo resale market in August 2024, offering valuable insights into the performance of different regions and the overall market landscape.
Table of contents Condo resale price index in August 2024
According to the SRX Price Index for Condo Resale, the overall condo resale prices shifted slightly from 258.8 in July to 258.7 in August 2024, with regional performances as follows:
OCR (Outside Central Region): Prices remained flat at 0.0%, though they experienced a slight dip before rounding.
Despite the monthly stability, the overall year-on-year prices increased by 4.6% compared to August 2023. Breaking it down by regions, CCR, RCR, and OCR experienced price increases of 1.7%, 7.2%, and 4.2%, respectively.
Additional reading: July 2024 condo resale market: CCR prices up by 2.8%; volumes in all regions surged by 32.2%
Resale condo transaction volume: A slight decrease of 1.7% from July
An estimated 1,080 resale units were transacted in August 2024, reflecting a 1.7% decrease from July’s 1,099 units. Despite the month-on-month drop, volumes were 16.8% higher than in August 2023 and 5.2% above the 5-year average for August. Regionally, condo resale transactions in August 2024 were distributed as follows:
OCR: 52.2% RCR: 29.2% CCR: 18.5%
The percentage of sub-sale transactions, which are secondary sales that occur before a project
