Nagoya is still a market where sellers raise prices. July 2026
Increases have not disappeared here
Of the Nagoya sale listings that changed price in July, 83.7% were cuts. The rest went up.
Read alone that looks like a market falling. Set beside the other cities it reads differently. In Tokyo and Sapporo almost every revision is a cut, with increases in the low single digits. Osaka, Kobe and Kawasaki all clear 90%. Nagoya's 83.7% is the lowest of the nine cities in this month's figures. Sellers here are still deciding to ask for more.
The direction is nonetheless down. All 3 observations in July were declines, giving -0.73% on a matched-listing basis: the same properties compared against their own previous prices. Of the 6,458 listings we could follow, 16% changed price, with a median cut of -4.35%.
The wards do not agree
The share of revisions that were cuts varies sharply by ward. Showa reaches 97.1%; Moriyama sits at 63.1%. That is a 34 point spread.
Across Tokyo's 23 wards the same figure stays inside a narrow 87% to 100% band. Nagoya does not behave that way. Sellers are in visibly different positions depending on where in the city they are.
| Ward | Listings tracked | Share that moved | Of those, cuts | Median cut |
|---|---|---|---|---|
| Showa | 315 | 21% | 97.1% | -4.02% |
| Midori | 584 | 12.7% | 93.3% | -4.56% |
| Chikusa | 804 | 19.9% | 90.8% | -3.44% |
| Tenpaku | 580 | 20.5% | 90.8% | -4.78% |
| Minato | 345 | 18.3% | 90.6% | -4.78% |
| Meito | 558 | 24% | 78.4% | -4.78% |
| Moriyama | 423 | 15.4% | 63.1% | -4.02% |
A figure near 100% does not mean every listing in that ward was cut. It is the share among listings that moved at all; most did not move.
How age works here
Sorting July's listings by building age, the median price per square metre falls by nearly 70% between the newest and oldest bands.
| Building age | Listings | Share | Median per m² |
|---|---|---|---|
| 0-5 years | 713 | 11.2% | ¥718,850 |
| 6-10 | 501 | 7.9% | ¥518,905 |
| 11-20 | 703 | 11.1% | ¥434,135 |
| 21-30 | 1,443 | 22.7% | ¥341,722 |
| 31-40 | 1,107 | 17.4% | ¥259,524 |
| 41+ | 1,888 | 29.7% | ¥225,187 |
Rents decline more gently across the same bands.
| Building age | Listings | Share | Median per m² |
|---|---|---|---|
| 0-5 years | 5,774 | 11.6% | ¥2,539 |
| 6-10 | 6,650 | 13.3% | ¥2,332 |
| 11-20 | 11,258 | 22.5% | ¥2,189 |
| 21-30 | 9,605 | 19.2% | ¥1,792 |
| 31-40 | 11,135 | 22.3% | ¥1,552 |
| 41+ | 5,545 | 11.1% | ¥1,324 |
Sale prices fall steeply with age while rents do not, so an older building earns more rent relative to its price. That relationship holds in Nagoya as elsewhere; you can calculate the yield for a specific property.
| Layout | Listings | Share | Median per m² |
|---|---|---|---|
| 3LDK | 2,441 | 38.4% | ¥318,014 |
| 4LDK | 1,224 | 19.3% | ¥292,447 |
| 2LDK | 980 | 15.4% | ¥355,136 |
| 3LDK+S | 295 | 4.6% | ¥370,541 |
| 2LDK+S | 247 | 3.9% | ¥367,633 |
| 1LDK | 219 | 3.4% | ¥736,842 |
| 5LDK | 150 | 2.4% | ¥294,521 |
| 4LDK+S | 110 | 1.7% | ¥327,273 |
| 3DK | 105 | 1.7% | ¥143,808 |
| 4DK | 80 | 1.3% | ¥194,232 |
| 6LDK | 60 | 0.9% | ¥328,589 |
| 5LDK+S | 59 | 0.9% | ¥279,389 |
| 1K | 57 | 0.9% | ¥745,342 |
Of 6,355 sale listings, 3LDK and 4LDK together approach 60%. What is for sale here is family housing.
Levels
The median advertised sale price was 2,790 man-yen, or 31.6 man-yen per square metre. A median moves with the mix of what is listed, so read it as a level rather than a trend.
About this data
We observed the market on 4 days during July, recording 24,945 sale listing observations. These are asking prices, not transaction prices.
This report carries no rental price movement and no rental ward breakdown. Rental collection runs newest-first and stops once it is into listings already held, so the depth reached varies day to day. In Nagoya the deepest day held 27 times the rows of the shallowest, which leaves no sound basis for matching. The age and layout composition comes from the deepest collection day in the period. Building age is recorded on 87.9% of rentals.