据一财，多城二手房2025年全年成交数据出炉，上海超越了成都站到了榜首位置。 2025年11月及12月，上海二手房市场出现"翘尾"行情，连续两个月的网签成交量都达到2.3万套，全年 上海二手房成交量达到了25.4万套(全口径数据，包含商业、车位等)，创下四年来新高，近五年时间内 仅次于2021年的28.1万套。 根据上海市统计局数据，截至2024年年末，上海常住人口为2480万人。将二手房成交数据与人口数据结 合起来看，平均每97个常住在上海的人里，就有一人在2025年买了二手房。 而成都市住房和城乡建设局公开数据则显示，截至12月26日，2025年成都全市二手房已成交23.2万套， 超过2024年数据，创下历史新高。 2022年成都二手房成交量首次超越新房成交量，此后已经连续三年保持增长，最高成交纪录不断被刷 新。 根据成都市统计局数据，截至2024年年末成都的常住人口是2147万人，这意味着2025年成都平均每92人 里就有一人买二手房。 来源：格隆汇 温馨提示：财经最新动态随时看，请关注金投网APP。 ...

"等了两年，总价省了100多万，还捡了套'准新房'！"27岁的深漂女生小林（化名）2025年在深圳完成 了首套房置业——这套交付近2年的二手房，原业主几乎未入住，总价却比她前年关注时降了超百万， 加上契税调整又省了几万。 小林的经历正是深圳二手房"以价换量"的缩影。数据显示，2025年深圳二手住宅过户56217套，同比上 升3.2%，连续三年回升，成交套数为近五年新高。与此同时，全年二手房成交均价同比微跌1.9%，不 过相较于前几年，跌幅已明显收窄。 在业内人士看来，成交量微升的背后，是政策松绑与需求释放同频共振的结果。"905新政"分区放宽限 购，激活非核心区刚需客群，叠加库存高位下业主主动调价促成交，供需双向发力，共同支撑成交量实 现温和上行。 成交量连续10个月在"荣枯线"之上 乐有家研究中心最新数据显示，2025年深圳一二手住宅网签总量94096套，同比下降9%。二手住宅网签 量占比60%，存量占比进一步提升。具体来看，2025年深圳二手住宅网签量56217套，同比上涨3.2%， 二手房录得量69773套，同比上涨4.3%。 从月度走势来看，深圳二手房成交量已逐步摆脱波动依赖，呈现稳健运行态势。自20 ...

刚刚过去的住建部工作会议强调："要充分认识二手房交易占比上升是今后一个时期的趋势，把新房市场和二手房市场作为一个整体来看待。" 数据显示，2025年11月，30个重点城市二手房成交面积1704万平方米，环比上涨14%。受二手房带动，11月一二手总成交面积2453万平方米，环比微增 1%。 近年来，各地豪宅纷纷出圈，豪宅市场也成为了市场主要关注焦点，但从二手房整体成交占比来看，即使是北京、上海，总价200万以下成交才是主流。 200万以下房源 成交占比同比增长显著 2025年下半年起，因二手房市场行情低迷、业主"以价换量"，成交结构中低价房源占比持增。 CRIC监测数据显示，2025年11月，北京、上海、深圳、杭州等总价200万元以下房源成交占比同比增长显著，其中上海和深圳总价200万元以下房源成交 套数占比同环比齐增。 以上海为例，2025年11月总价200万元以内房源成交套数占比为49.71%，环比上升0.99pcts，同比上升13.12pcts；市场份额有进一步扩大趋势。 与此同时，上海、北京总价300万-1000万元二手需求全面"塌陷"，同环比全线"飘绿"，一方面受整体市场压力影响；另一方面，也源于新房 ...

Core Insights - The official report indicates that the second-hand housing market in Xi'an saw both month-on-month and year-on-year increases in September, with growth rates of 4.34% and 1.58% respectively [1][2] - The total area of second-hand housing registered in September was approximately 843,300 square meters, with 7,570 residential units signed, covering an area of 778,700 square meters [1][2] Market Performance - In September, Xi'an recorded a total of 7,570 second-hand housing transactions, bringing the total for the first nine months of the year to 74,153 units, significantly higher than the same period last year [5] - The increase in transactions in Xi'an contrasts with many other cities, where the market has been sluggish, except for major cities like Beijing, Shanghai, and Shenzhen, which also reported increases due to recent policy adjustments [3] Factors Influencing the Market - The surge in Xi'an's second-hand housing market is attributed to three main factors: strong demand from first-time buyers, pressure from new home prices leading to a shift towards second-hand homes, and the competitive nature of high-gifted properties [6] - Recent policy changes in Xi'an, such as the introduction of design guidelines for residential projects, are expected to impact the market dynamics, particularly affecting the availability of high-efficiency properties [6] Price Trends - Despite the increase in transaction volume, the average price of second-hand homes in Xi'an saw a month-on-month decline of 1.30% in September, indicating a continued downward trend in pricing [6] - Some quality second-hand properties have begun to see price increases, particularly in prime areas, suggesting a potential shift in market sentiment [7] Future Outlook - The ongoing demand for second-hand homes is expected to continue, with quality properties in core areas maintaining a premium, while older properties may face further depreciation in value [10]

Core Viewpoint - The high-end real estate market in Beijing, Shanghai, and Shenzhen is expected to experience a steady decline in heat, with increasing supply and changing buyer sentiment impacting market dynamics [1][7]. Group 1: Market Trends - In July 2025, the second-hand housing market transaction volume in 30 key cities decreased by 14% month-on-month and 9% year-on-year, indicating a slowdown in growth momentum [1]. - The new listing volume in Beijing, Shanghai, Shenzhen, and Hangzhou showed a seasonal decline in July, with only Shanghai remaining flat compared to the previous month [1][7]. - The overall new listing volume in July for Beijing, Shanghai, and Shenzhen was significantly higher than the same period last year, with year-on-year increases exceeding 20% [1]. Group 2: Listing Characteristics - The new listings in the mid-price segment (100-500 million yuan) have decreased, while the lower and higher price segments (below 300 million yuan and above 600 million yuan) have seen an increase in listing proportions [5][6]. - In Beijing, the listing proportion for the 300-500 million yuan segment dropped by 0.98 percentage points, while the lower segment (below 300 million yuan) and the higher segment (above 3000 million yuan) increased by 0.42 and 0.63 percentage points, respectively [5]. - In Hangzhou, the high-end property listings (above 600 million yuan) have structurally increased, while lower price segment listings have decreased [6]. Group 3: Area Segment Analysis - The most significant increases in listing proportions for small-sized properties were observed in Beijing (below 70 square meters), Shanghai (50-90 square meters), and Shenzhen (50-70 square meters) [6]. - In contrast, larger property segments (above 140 square meters) have shown a steady increase in listing proportions across the three cities [6]. Group 4: Market Outlook - The market is characterized by a "K-shaped" differentiation, where demand for affordable small units and luxury properties remains strong, while mid-range improvement properties face hesitance from owners [7]. - The high-end market in Beijing, Shanghai, and Shenzhen is likely to see a steady decline in heat due to increased supply and competition from new high-quality developments [7].

Core Insights - The second-hand housing market in Hangzhou experienced a decline in June, with transactions falling to 7,335 units, a decrease of 4.9% month-on-month and 17% year-on-year [3][11] - Despite the decline in June, the first half of the year saw a total of 48,926 second-hand homes sold, marking the highest figure in nearly four years [3][6] - The market is currently characterized as a "buyer's market," with over 180,000 listings and around 30,000 properties seeing price reductions each month [11] Market Performance - The second-hand housing transactions in Hangzhou have seen a three-month consecutive decline since reaching a peak of 12,413 units in March [3][6] - The average transaction price for residential properties in the first half of the year was 29,182 yuan per square meter, reflecting a slight decrease of 0.3% year-on-year and 0.1% month-on-month [3][6] - The proportion of transactions for homes priced under 2 million yuan increased to 46.1% in June, indicating a shift towards more affordable housing options [6] Popular Areas and Properties - The top-selling properties in June included those in the Qingshan Lake area, with the highest transaction being 27 units at Chengxiu Xinghui City, priced at 10,848 yuan per square meter [5][6] - Newly delivered properties in areas like Shinfang and Qianjiang Century City have been popular among buyers, with several new developments leading in transaction volumes [7][9] Future Outlook - The second-hand housing market faces challenges in the second half of the year, with the need for strong macroeconomic support and timely policy assistance to maintain transaction volumes [11] - The average time to sell a property on the Beike platform is currently around 8 months, indicating a slower sales environment [11]

Core Insights - The current real estate market is experiencing a shift, with a focus on the second-hand housing market and its transaction structure, particularly in major cities like Shanghai, Beijing, and Shenzhen [2][24][32] Group 1: Transaction Trends - The proportion of transactions under 3 million yuan is increasing, with Beijing seeing the most significant rise from 35% to 46% over the past year, while Shanghai and Shenzhen increased by 2% and 7% respectively [6][8] - The average transaction price for second-hand homes has decreased, with Shanghai dropping from 2.1 million yuan to 1.96 million yuan, and similar declines observed in Beijing and Shenzhen [8][9] - In second-tier cities, the 2 million yuan price point is critical, with cities like Chengdu and Nanjing seeing significant increases in transactions below this threshold [11][14] Group 2: Demand for Larger Units - There is a notable increase in the transaction volume of larger units (over 130 square meters) in cities like Shenzhen, where the proportion of such transactions has reached a five-year high [15][19] - The demand for larger homes is driven by changing family structures and lifestyle upgrades, particularly among families with multiple children [23][31] Group 3: Inventory and Pricing Pressure - The inventory of second-hand homes is rising, with cities like Chengdu seeing a 45.9% increase in listings over six months, leading to increased competition and downward pressure on prices [24][27] - The average price of second-hand homes across 100 cities has dropped by 7.24% year-on-year, indicating a continued decline in the market [28][30] Group 4: Market Outlook - The overall second-hand market is in a phase of weak recovery, with demand entering a new adjustment period, characterized by buyer hesitation and a tug-of-war between buyers and sellers [32][33] - Some cities are showing signs of improvement, with stable transaction volumes and manageable inventory levels, which could help restore buyer confidence [32][33]