二手挂牌 | 10月京沪深新增挂牌量同环比双降

Core Viewpoint - The overall second-hand housing market transaction scale is expected to continue its fluctuating trend, with a gradual decline in transactions observed in October 2025 [2][12]. Market Transaction Trends - In October 2025, the transaction volume of second-hand houses in 30 key cities decreased by 11% month-on-month and 23% year-on-year, with a cumulative year-on-year growth narrowing to 6% [2]. - The new listing volume in key cities such as Beijing, Shanghai, and Shenzhen showed a consistent decline, with Shenzhen experiencing a year-on-year drop of 35% [4][12]. Listing Volume Analysis - The total new listings in Beijing, Shanghai, Shenzhen, and Hangzhou decreased by 9% month-on-month and 20% year-on-year in October [4]. - Specific data for October 2025 shows: - Beijing: 15,602 listings (-15% MoM, -20% YoY) - Shanghai: 14,612 listings (-4% MoM, -10% YoY) - Shenzhen: 5,521 listings (-17% MoM, -35% YoY) - Hangzhou: 6,402 listings (+6% MoM, -26% YoY) [6]. Price Segment Insights - In terms of price segments, there is an increase in the proportion of listings priced below 5 million and 30 million in Beijing, Shanghai, Shenzhen, and Hangzhou, while the proportion of listings priced between 5 million and 30 million has decreased [6]. - The listing activity for properties priced below 1 million has increased, indicating a growing willingness among owners to sell in the lower price segment [6][12]. Area Segment Insights - The new listing volume by area shows varied trends across the four cities: - Beijing and Hangzhou saw increases in listings for properties sized 50-70 square meters and 120-160 square meters, while Shanghai saw significant increases in listings for properties under 90 square meters [10][11]. - In Shenzhen, the increase in listings was more dispersed across various size segments, reflecting the overall price segment performance [10]. Future Market Outlook - The second-hand housing market is expected to maintain a fluctuating transaction scale due to prolonged transaction cycles and relatively high levels of listing inventory [12]. - The continuous decline in second-hand housing prices since the third quarter has diminished their stimulating effect on transaction volumes, particularly for first-time buyers, leading to an increase in market observation sentiment [12].