What does average sale price mean?

The average sale price refers to the mean price at which properties in a specific development, district, or property type have been transacted over a set period, such as the last 12 months. It is calculated by taking the sum of all recorded sale prices for that property type or development and dividing it by the total number of transactions. This figure gives buyers, sellers, and investors an indication of the market value and pricing trends for similar properties in Singapore. The average sale price is often quoted in terms of price per square foot, especially for condominiums and apartments, providing a useful benchmark to compare different property developments and districts.