The CheckHowMuch HDB Resale Index

HDB Resale Index, February 2024

Archived monthly report · February 2024 data · 2,123 sales · Source: data.gov.sg

HDB resale prices held broadly flat in February 2024, easing 0.4% to a $568,000 median. That makes February the first straight month of sub-1.5% movement. On a three-month basis the national median is up 6.2% on a year ago, and it has held between $535,800 and $570,000 over the past 13 months. 2,123 flats changed hands (down on January, 16% above February 2023), and 15 blocks crossed $1 million for the first time.

What Moved This Month

Median, February

$568,000

−0.4% vs January

Year on year

+6.2%

3-month basis

Resale volume

2,123

+15.6% vs February 2023

New $1M blocks

First-ever $1M sale

Biggest single sale $1,480,000 · Executive at Blk 286 Bishan Street 24, Bishan

New to the $1M club Blk 286 Bishan Street 24, Blk 58 Jalan Ma'Mor, Blk 5 Holland Close, Blk 11 Toh Yi Drive, Blk 30A Holland Close, Blk 116 Clementi Street 13 and 9 more

The Median, Month by Month

National median resale price across the 13 complete months to February 2024. The band has stayed narrow: $535,800 to $570,000, a spread of just 6%.

Median resale price per month, all HDB flat types. Latest complete month shown: February 2024. Source: data.gov.sg, processed by CheckHowMuch.

Where Towns Are Pulling Apart

Biggest movers by median, latest three months versus the prior three (a smoother read than a single month). Town medians shift with the MIX of flats sold each month, so treat these as directional, not a per-flat price change.

Firming

Bukit Merah +9.1% $715K → $780K · 240 sales Bishan +8.0% $750K → $810K · 83 sales Kallang/Whampoa +6.8% $590K → $630K · 179 sales

Softening

Geylang −9.5% $525K → $475K · 137 sales Bukit Batok −6.4% $580K → $543K · 401 sales Clementi −6.3% $555K → $520K · 130 sales

Methodology & How to Cite This

The CheckHowMuch HDB Resale Index reports movement for a complete month only. The current in-progress month is excluded because HDB registers resale transactions with a lag, so its volume is still filling in. A month is treated as complete when its transaction count is within normal range of the preceding six months.

Median, month on month, year on year: the median of all resale prices recorded in a month, compared to the prior month and, on a three-month trailing basis, to a year earlier. The three-month basis is used for the year-on-year figure because it is far less sensitive to the mix of flats sold in any single month.
Flat streak: a month is called flat when the median moves less than 1.5% from the prior month. February is the first straight month of sub-1.5% movement.
Town movers: each town's median over the latest three months versus the prior three months, shown only where at least 60 sales occurred in each window. Town medians move with the mix of flats sold, so these are directional.
New $1M blocks: blocks recording their first-ever resale above $1 million during the month.

Cite this index

The CheckHowMuch HDB Resale Index (February 2024): median HDB resale price $568,000, −0.4% month on month, +6.2% year on year (three-month basis). 2,123 transactions; 15 new $1M blocks. Source: CheckHowMuch, from data.gov.sg. checkhowmuch.sg/market/2024-02/

All transaction data is sourced from data.gov.sg, published by the Housing and Development Board (HDB), and refreshed on the 1st and 15th of each month. Computed from 234,672 transactions since 2017. Licensed under the Singapore Open Data Licence. Informational, not financial advice. Read the full valuation methodology.

Check Your Own Block

National medians are the headline. The number that affects your decision is the price history of your specific block.