Shanghai's second-hand home transaction volume is catching up with the previous bull market. The Shanghai property market is racing toward the 30,000-unit mark.

Since March, the second-hand housing market in Shanghai has been continuously heating up, with transaction volumes approaching a key threshold. According to data from “Online Real Estate,” as of March 22, the total number of second-hand housing transactions in the city has reached 21,443 units, with an average daily transaction close to 1,000 units. Under the combined effects of policy easing and the traditional “golden March and silver April,” weekly transactions have hit a new high since 2021, with single-day online signings on weekends repeatedly exceeding 1,400 units, significantly enhancing market activity. The industry generally views a monthly transaction of 20,000 units as the “line of prosperity and decline,” while 30,000 units indicate a clearly active range. At the current transaction pace, the Shanghai second-hand housing market is once again challenging the “30,000-unit mark” after several years, becoming a core suspense for market attention and is seen as an important barometer for whether confidence in the real estate market can truly recover. Behind the surge in transactions, prices have not yet seen a simultaneous increase, but the bargaining space has clearly narrowed, with some landlords raising their expectations, and the phenomenon of “jump pricing” has begun to appear sporadically. “The transaction volume of second-hand housing in March this year breaking through 30,000 units is quite promising, but it will depend on the data for the coming week, especially this weekend. If Saturday and Sunday can maintain a daily transaction volume of 1,400 units, then it will definitely exceed 30,000 units, which will also mean a clear reversal in market sentiment,” said Lu Wenxi, a senior analyst at Shanghai Zhongyuan Real Estate. (First Financial)