By the previous economic stimulus policy deal with financial crisis，Shenzhen real estate market returned active rapidly in 2009. The sales volume and the price rose significantly，and a prosperous scene reappeared. By contrast，rental market was relatively stable，residential rents accompanied by minor fluctuations in price changes，office rents began to stabilize and rebound. Commercial space rents continued to remain low. Residential land supply began to significantly reduce，and the market continued to hot. By a new round of policy implications in the end of 2009，the Shenzhen housing market is beginning to achieve adjustment of posture；The continuing unbalanced nature of location of residential land transfer will exacerbate differences in market supply and demand；Urban renewal will add new vitality to the housing market too. In the background of better domestic economy situation，the trend of Shenzhen real estate market in 2010 will depend on the policy guidance and the trial of supply and demand strength.