Over the past six months, more than half of the apartments with transaction reports in Seoul were priced under 1 billion won, it was found.
Real House, a company specializing in presale evaluations, analyzed data from the Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system and said that, as of the 5th, 37,246 apartment sales in Seoul had been reported from February to early this month.
By transaction price range, under 1 billion won accounted for 20,676 transactions (55.5%), exceeding half. Expanding the range to under 1.5 billion won brought the total to 28,765, or 77.2% of all transactions. At least 2 billion won was 4,444 transactions (11.9%), and at least 3 billion won was 1,171 transactions (4.6%).
Lining up all transactions by price, the median price— the middle value— was 916 million won, it was found. In contrast, the average was 1.1745 billion won, more than 200 million won higher than the median. The relatively small number of transactions at 3 billion won or more appears to have pushed up the average.
By district, places with more transactions had lower prices. The district with the most transactions during the period was Nowon District (4,453), accounting for 12.0% of all transactions in Seoul, and its median price was 600 million won. It was followed by Gangseo District (2,500), Guro District (2,452), and Seongbuk District (2,245).
The median prices in Gangseo, Guro, and Seongbuk districts were all below the overall median for Seoul. In contrast, Gangnam District, which accounted for only 3.9% (1,442) of total transactions, had the highest median price in Seoul at 2.66 billion won— more than four times that of Nowon District.
Meanwhile, the share of record-high-price transactions in Nowon District was 2.9%, the lowest in Seoul, and Dobong District (3.0%) was also low, indicating that even in areas with active transactions, the volume of deals setting new all-time highs did not increase proportionally.