"Silver October" Outperforms "Golden September": Shanghai's October Second-Hand Home Online Signings Surge 33% Year-on-Year, "The Signal of the Market Halting Its Decline and Recovering Is Already Clear"

Shanghai's "Silver October" property market report card is out. Data from the official website of the Shanghai Real Estate Trading Center, "" (Online Real Estate), shows that in October Shanghai's second-hand homes recorded a cumulative 24,653 online-signed transactions, not only surpassing the roughly 23,500 transactions in "Golden September" but also surging 33% year-on-year, setting a new high for the same period in nearly six years. Looking at single-day performance, apart from the National Day holiday when daily online signings hovered around a hundred units, market activity remained consistently high throughout the month. Data shows that in October there were 7 trading days on which single-day online signings of second-hand homes exceeded 1,000 units, with the transaction peak continuing to be refreshed. Among them, October 17 recorded 1,631 single-day online-signed transactions, exceeding the 1,615 units on October 11 to become October's single-day transaction peak. This was also the fourth time this year that Shanghai's second-hand homes broke 1,600 units in single-day online signings, second only to the year's highs of 1,632 units on April 11 and 1,664 units on May 10. At month-end, the market once again saw a tail-end rally, with single-day online signings of second-hand homes on October 31 climbing back to 1,505 units. Looking at the monthly trend, the resilience of Shanghai's second-hand home market continues to show. Since March this year, Shanghai's second-hand home transaction volume has stood firm above 23,000 units for the eighth consecutive month, with March's online signings even exceeding 31,000 units.