Even though the prices of resale condos fell for the second successive month, trade volume has continued to grow.
Sales volume of resale condos rose considerably in July
882 resale condo units were sold every month, attracting the revenue quantity 32.2% greater than that of June.
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At a year-on-year contrast, but the amount of trades recorded this July was nearly 20% lower compared to the 2018. We must, nevertheless, do not forget that the abrupt surge in earnings last July was because of buyers hurrying to close deals ahead of the cooling steps kicked in.
Participants are nevertheless still delighted with previous month’s market functionality as sales volume was 11.1percent higher compared to 5-year volume typical in July.
Buyers have returned following the June vacation lull and earnings have picked up appreciably.
There’s been a rise in the amount of new releases that have hit the marketplace in the last couple of months. This is after a 0.4% drop in May following 4 successive months of price .
The most critical decrease of 1.1percent was from town fringes. At the suburbs, prices dropped 0.3percent and at the center central place, 0.1 percent.
In every area, topping the charts with all the multi-million buck trades. At town center, it was a device in the freehold Boulevard Vue at Cascaden Walk that went for $17.5 million.