Core Viewpoint - The auction of a property in the well-known Spring Jiang Hua Yue community in Hangzhou reflects both unexpected and expected trends in the real estate market, highlighting a significant price drop compared to previous years while still maintaining a level of buyer interest due to its desirable location and characteristics [1][4][9]. Group 1: Property Details - A property in the Spring Jiang Hua Yue community was auctioned with a starting price of 9.107 million yuan, ultimately selling for 9.377 million yuan, translating to approximately 46,100 yuan per square meter [4][10]. - The property features a total area of 203.32 square meters, with a layout of 4 bedrooms, 2 living rooms, 1 kitchen, 2 bathrooms, and 2 balconies, offering a view of the Qiantang River [4][6]. Group 2: Market Trends - The auction results were surprising due to the property's location within the Flowing Cloud Garden, which has seen higher past sales, including a record sale of 39.975 million yuan for a larger unit in 2019 [6][8]. - Recent sales data indicates a significant decline in prices, with the latest auction price being lower than previous sales in 2021 and 2022, where prices ranged from 65,000 to 70,000 yuan per square meter [9][13]. - Despite the price drop, the Spring Jiang Hua Yue community remains attractive due to its large size, diverse unit types, and good school district, leading to consistent transaction activity [13].