What if you omit the July transaction since it's an outlier?

To determine the valuation of your unit at Marina Bay Suites, omitting the July transaction as an outlier, you would need to consider the recent and average transaction prices for similar units in the development.

Here are some key points to consider:

- Recent transactions at Marina Bay Suites have shown a range of prices. For example, a 2691 sq ft unit was sold for $5.65 million, or approximately $2,100 per square foot, in May 2024.
- The average price per square foot for transactions in the last 12 months can give a more stable indicator. For Marina Bay Suites, prices have ranged from around $1,858 psf to $2,785 psf, though this data might be more relevant to nearby developments like Marina Bay Residences.
- Since your unit is 2056 sq ft, you can use the average price per square foot from recent transactions to estimate its value. If we use the $2,100 psf from the recent sale as a benchmark, your unit's valuation would be approximately $4,311,600.

However, it's crucial to adjust this estimate based on the specific characteristics of your unit, such as the floor level, orientation, and any unique features or renovations.

For a more precise valuation, you can use EdgeProp's tools, such as the Fair Value tool, which provides data on past transactions and price trends to help you make a more informed decision.