从11月全国70座城市的新房价格核心指标来看，全国市场依然呈现"普跌为主、局部微涨"的格局。 环比表现：70个大中城市中，59城新建商品住宅价格环比下跌，占比超8城；3个城市环比持平，仅8个 城市环比上涨，占比不足12%。 8座新房价格上涨的城市分别为：沈阳、上海、南京、合肥、重庆、贵阳、扬州、襄阳，其中合肥、襄 阳以0.3%的涨幅领跑，上海涨幅为0.1%，整体来看这8座城市的新房价格上涨力度也比较微弱。 今天，国家统计局发布了《2025年11月份70个大中城市商品住宅销售价格变动情况》。 在新房价格环比下跌城市数量超八成的同时，叠加1-11月全国新建商品房市场核心数据的持续走低，让 房地产市场降温特征愈发凸显。 01 全国二手房"全军覆没" 11月全国70座城市二手房环比、同比价格全部下跌，呈现"全军覆没"的态势，无一城市实现价格上涨。 叠加今年1-11月宏观成交数据，全国新建商品房销售额75130亿元、同比降 11.1%，销售面积78702万平 方米、同比降7.8%，房价与成交的双重走弱，让楼市降温的信号愈发明确。 | 商品房销售面积 同比下降 | | 住宅销售面积同比下降 | | --- | --- | ...

Core Insights - The Shanghai real estate market in October showed a significant decline in transaction volume compared to September, with new residential sales dropping by 27% month-on-month to 398,000 square meters [1] - The supply of new homes decreased by 33% in October, with only 33 new projects launched, indicating a low willingness among developers to release new inventory [2] - The luxury housing market is experiencing a return to rationality, with a slight decrease in average transaction prices, which fell by 6.4% to 83,955 yuan per square meter [2] New Housing Market - In October, the new housing market in Shanghai saw a total supply of 423,000 square meters, with only 14 out of 33 projects offering more than 100 units, reflecting developers' reluctance to push new inventory [2] - High-end projects remain the focus, with nine projects priced above 100,000 yuan per square meter, including the successful launch of Vanke's high-end project in Huangpu District, which achieved sales exceeding the total for the same price segment in 2024 [2] - The overall transaction volume for new homes was lower than expected, with the last week of October failing to show a significant uptick in sales [1][2] Second-Hand Housing Market - The second-hand housing market in Shanghai also experienced a downturn, with a total of 18,483 transactions in October, a decrease of 9.83% from September and a 24.17% drop year-on-year [4] - The market showed signs of cooling, with only three days in October recording over 1,000 transactions, and the average daily sales during the first half of the month being significantly low due to the holiday impact [4] - The trend of "price for volume" is evident, with sellers reducing prices to stimulate sales, as illustrated by a buyer's experience of multiple price cuts on a property [3][4] Market Performance Comparison - Overall, the performance of the Shanghai real estate market in October ("Silver October") was weaker than in September ("Golden September"), with total transactions for both new and second-hand homes significantly lower [4] - In September, total housing transactions reached 2.07 million square meters, with a month-on-month increase of 8% and a year-on-year increase of 24%, contrasting sharply with October's figures [4][5]

Core Insights - The article discusses the decline in second-hand property prices across various regions, highlighting that no area is immune to price drops, with some properties experiencing significant declines due to unique characteristics [1][16]. Data Analysis - The data shows a significant decrease in transaction prices for various properties from 2020 to 2025, with some properties like "群升国际GX" dropping from over 50,000 to around 30,000, a decline of approximately 20,000 [2][3]. - "富力中心BX" also experienced a notable price drop, with average prices falling from 35,688 to 16,428, indicating a decrease of 19,260 [2]. - The "世茂茶亭臻园" property, once a high-end luxury option, now has transaction prices around 22,000, reflecting a significant decline from previous years [9][12]. Market Trends - The article notes that properties marketed as school district homes have seen a substantial decrease in value, with many dropping over 10,000 from their previous prices due to declining interest and changes in school performance [20][28]. - The trend indicates that high-rise residential properties, once considered desirable, are now viewed unfavorably, leading to poor resale performance [12][26]. - The article emphasizes that properties with poor living experiences, such as high-rise public housing, are particularly vulnerable to price declines, with some dropping to around 10,000 [31]. Regional Insights - In the 台江区, properties like "富力中心" and "中央第五街" have seen drastic price reductions, with some units dropping below 10,000 due to unmet commercial promises and poor product design [5][31]. - The article highlights that the market for安置房 (resettlement housing) has also been severely impacted, with prices dropping significantly, often below 10,000, reflecting a broader trend of declining property values in the region [31]. Conclusion - Overall, the data and analysis presented indicate a widespread decline in property values across various types of housing, with significant implications for investors and homeowners alike [16][20].