Property prices are constantly moving, and doing your research before selling your home is absolutely crucial. You wouldn’t want to price buyers out of your home because you set it too high, but you wouldn’t want to sell below your home valuation either — it makes it seem as if your home has a significant defect and you’re desperate to sell, so you adjust your price lower than the market trend.
Checking the recent HDB resale transactions in your estate is a surefire way of staying on top of the market: you’ll be able to gauge the current market value of your home and make a more informed decision when setting your sale price.
That is easy enough to do with how much data is available online today, but looking at raw transaction data can be very confusing if it’s your first time and don’t know what to look out for, which figures are important, or how to draw insights from any of the numbers you see.
Wouldn’t it be nice if you could have a really smart friend who filters only the data you need to see and presents it in an easily digestible format?
We thought so too. So we created him.
Homer is your next-generation Home Ownership & e-Valuation Report AI tool built by Ohmyhome, trained to provide you with only the most crucial insights on your home.
The best part? He sits in the palm of your hand.
With Homer AI, you can check the recent transactions in your area by connecting to Singpass, which draws your personal details from Myinfo, or you can inputt your address manually.
I personally suggest using Singpass to connect your home with Homer AI as it will save you the time and hassle of having to manually type your address or even remembering your home details because, let’s be honest, when you finally find the time to check the recent transactions in your estate — after a whole day of working and then taking care of your kids when you get home — you may forget a thing or two. Like me: I forgot the square footage of my home and had to guesstimate it in order to continue the journey. That means you run the risk of looking at data that may not be so relevant to you, which completely defeats the purpose of your research.
Once you finish that step, you’ll be led to a dashboard which shows you the following information:
Average transaction prices in the past 6 months, in your area, for the same type of property
With Ohmyhome’s Homer AI, you’ll find, for example, the Past 6 Months Transacted Prices in Choa Chu Kang Avenue 3 for a 4-room HDB flat.
All the sold transactions in your area, in the past 6 months
There’s a more detailed breakdown of these transacted prices in the table below, and Homer will even indicate if there’s a transaction recorded for your block.
These transactions are sorted by date, so you’ll see the most recent transaction recorded in your area.
With all the transactions in the past 6 months, you’re getting the most relevant and timely information on the price trend in your area.
All the homes sold by Ohmyhome in your area
You can also see how we’ve helped homeowners sell at higher than the average transacted prices in that area. For example, Ohmyhome sold this 4-room flat at Choa Chu Kang Street 64 for 6% higher than the average transacted price in the area, just last month!
With Homer AI, you save precious time by eliminating the process of manually searching for transaction data across various websites. Instead, you have all the information conveniently consolidated in one place. Plus, Homer offers visual representations, such as charts, graphs, and listing images so you can interpret data more effectively.
By leveraging the capabilities of Homer AI, you can simplify your research process and gain valuable insights to make an informed decision on your home sale. And with the accurate and up-to-date data Homer can give you, you can set realistic expectations, price your property competitively, and increase your chances of securing a favourable deal.
Connect your home with Homer AI
If you own a HDB flat, have met your 5-year MOP, and are thinking of selling your home, you can say hi to Homer AI right here.