China Index Academy said year-to-date through Q3 Beijing resale residential
online signings totaled 137,229 units, up 5.1% YoY and the largest same‑period
volume since 2022. Shanghai recorded 191,563 signings, up 15.5% YoY; monthly
transactions have hit near five‑year comparable highs for three consecutive
months since Q3. Overall resale activity in Beijing and Shanghai remains
elevated, driven mainly by rigid demand with marginal recovery in improvement
demand. Price performance has diverged: Shanghai listed prices are stabilizing
while Beijing listings remain under downward pressure. Whether improvement
demand sustains and whether the sales rebound can further stabilize prices
remains worth watching.
