Market pulse: A number of sellers selling at loss?
Based on Edgeprop, over the past 12 months, prices have increased 7.3%, according to URA price index. News seem positive. However similar to economic recovery across different sectors, the resale property market is showing uneven performance. Not every seller is making money on their sale.
I'm on the ground every day working with agents/buyers/sellers so I have some sense of the market pulse. 🌡️
For example, in the last one week of serving a buyer looking for a unit, 1 to 2 bedrooms in CCR, near MRT from $1.2M to $1.5M, I noted that of the 6 units they shortlisted, half the sellers were selling either at break even price and/or making a loss. 😣
On the other hand, I’m also serving another set of buyers looking for good condition, larger size units, on a single level, 1600sft and above, with unobstructed views, from $3.2M to $4M in districts 9,10,11,15. In the last 4 months, we noted that a number of the shortlisted units that were good in the buyer's opinion, were sold fairly quickly in spite of sellers asking above valuation. 🧨
In short, it's a mixed bag...😬 ...If you are in the market looking, it is still possible to find good deals if one knows how and where to look. 💰If you are in the market selling, depending on the features of your unit/ location, it is also possible to secure a suitable buyer willing to pay you your price.