According to a new Redfin report, an overwhelming 68.4 percent of condos sold below their asking price — the highest share in five years. That’s a jump from 63.3 percent last year, signaling a cooling condo market.
Source: Inman News
Condos are selling below list price as fees discourage buyers
Published in Alison Williams, apartments, Asad Khan, california, charlotte, condo listings, condo market, condo market conditions, condo sales, cooling inventory, denver, Florida housing inventory, hoa fees, homebuyers, homebuying, homeowners, homeownership, housing inventories, inman, insurance costs, list prices, Market state, Markets & Economy, mortgage rates, News Brief, original list price, orlando, Redfin, Redfin Premier, Redfin premier agent, renters, sacramento, sale prices, san diego, Select, single-family homes, Tim harper, townhouses and virginia beach
More from apartmentsMore posts in apartments »
More from Asad KhanMore posts in Asad Khan »
- Here’s why price cuts are sweeping the country
- These are the states where homeowners will benefit most — and least — from new SALT cap
- Why is Midwest real estate beating the rest of the country?
- Sellers outnumber buyers by 36% — but that figure is starting to shrink
- Summer sales have hit their slowest pace in 10 years
More from californiaMore posts in california »
- Zillow released its price forecast for hundreds of US markets. What will happen near you?
- Supreme Court not ready to let Trump boot Fed Governor Lisa Cook
- A mega-team goes indie, and other big-time real estate moves
- ATTOM data tool sniffs out true ownership of properties in LLCs
- Douglas Elliman launches national Estate, Trust & Probate Division
More from charlotteMore posts in charlotte »
- Let’s talk about S-E-O: What agents need to know now
- 2 Americas: Housing markets the Great Rebalancing has left behind
- 7 critical questions to ask before opening an expansion office
- Home prices climbed in February — but the momentum is cooling
- Corcoran Affiliates’ Anton: ‘We’re being true to who we are’
More from condo marketMore posts in condo market »
- When it comes to condo vs. townhome value, location matters
- Hurry up or wait: The big question on every buyer’s mind this spring
- Investors say car condos are ‘better than owning an apartment’
- Investors say car condos are ‘better than owning an apartment’
- Miami building tragedy may change condo market forever, agents say
More from condo salesMore posts in condo sales »
- South Florida luxury prices defy gravity while overall market dips
- Condo sales fall to 10-year low amid surge in insurance costs, HOA fees
- Luxury sales surge near Mar-a-Lago as Trump settles into 2nd term
- Patriots owner Robert Kraft inks record Palm Beach penthouse sale
- Canadian luxury market beginning to normalize: Engel & Völkers
More from denverMore posts in denver »
- Forget private marketplaces, Colorado brokers launch full-transparency offensive
- More than half of metros stray from ‘balanced’ housing market
- A bunch of big real estate teams are making big moves
- Appraisal bias suit against Rocket Mortgage, Solidifi moves forward
- As homebuyers gain leverage, sellers get cold feet. Is it happening near you?
More from Florida housing inventoryMore posts in Florida housing inventory »
More from hoa feesMore posts in hoa fees »
More from homebuyersMore posts in homebuyers »
- Is the mortgage lock-in effect ending? These numbers offer clues
- Closing is the lifetime launchpad for client follow-up: Step 8
- Is fall the new spring? Market winds may be shifting, NAR says
- How Charlie Kirk’s assassination could impact real estate
- Compass to acquire Anywhere in $1.6B deal, capping rise to top
More from homebuyingMore posts in homebuying »
More from homeownersMore posts in homeowners »
- Is the mortgage lock-in effect ending? These numbers offer clues
- These are the states where homeowners will benefit most — and least — from new SALT cap
- Homebuyers gain leverage as sellers cut prices: Zillow
- Homebuyers remain sidelined despite more listing options
- For these ‘stranded’ homeowners, no rate cut will coax them to list
More from homeownershipMore posts in homeownership »
More from inmanMore posts in inman »
- The death of old-school SEO, and what it means for real estate
- Cloze’s MAIA is smart, task-driven and enterprise-ready: Tech Review
- 7 AI tips for real estate agents from a tech insider
- Zillow released its price forecast for hundreds of US markets. What will happen near you?
- Don’t just read the news. Be part of the story with Inman’s Tip Line
More from insurance costsMore posts in insurance costs »
- This is where the future of Texas real estate comes to life
- The homeowner affordability crisis is about to explode due to ‘TI’
- Insurance, property taxes taking a bigger bite of buyers’ budgets
- Florida housing market hits record inventory, Redfin says
- Low-risk homes appreciate as climate concerns shift the market
More from list pricesMore posts in list prices »
- Prices are softening. But don’t expect that to last, economist says
- Sellers are reducing asking prices. But don’t expect house prices to drop, economist says
- As list prices continue to soar, not all homebuyers are willing to play ball
- The hot housing market isn’t ending any time soon: Zillow
- Homes continue to sell fast amid incredibly low inventory
More from Markets & EconomyMore posts in Markets & Economy »
More from mortgage ratesMore posts in mortgage rates »
- Government shutdown could bring mortgage rates down
- Supreme Court not ready to let Trump boot Fed Governor Lisa Cook
- Is the mortgage lock-in effect ending? These numbers offer clues
- Pending home sales jumped 4% in August in positive market signal
- Hopeful but wary, agents report slippage in listing pipelines: Intel
More from News BriefMore posts in News Brief »
- A mega-team goes indie, and other big-time real estate moves
- Zillow bashes CoStar in request to transfer lawsuit
- In copyright battle with Zillow, CoStar says the portal giant ‘brazenly’ keeps at it
- Pending home sales jumped 4% in August in positive market signal
- Former agent convicted of swindling woman out of her home
More from orlandoMore posts in orlando »
- More than half of metros stray from ‘balanced’ housing market
- How the growing buyer power shift is reshaping the real estate market
- Trump tariff policy has soured Canadian interest in US properties
- How single women are reshaping today’s real estate conversation
- Here are the markets where homebuyers have the upper hand
More from RedfinMore posts in Redfin »
More from Redfin PremierMore posts in Redfin Premier »
- Despite market shift toward buyers, they’re still backing away
- Record $700B worth of listings on market, but sales are sluggish
- The spring sizzle fizzles: Economic jitters chill buyer demand
- Concessions surge as homesellers offer sweeter deals in sour markets
- Homes are sitting longer and not just because of mortgage rates
More from Redfin premier agentMore posts in Redfin premier agent »
- Despite market shift toward buyers, they’re still backing away
- Record $700B worth of listings on market, but sales are sluggish
- The spring sizzle fizzles: Economic jitters chill buyer demand
- Federal layoffs are fueling an inventory surge in nation’s capital
- Concessions surge as homesellers offer sweeter deals in sour markets
More from rentersMore posts in renters »
More from sacramentoMore posts in sacramento »
- Insurance a top concern as experts predict higher premiums
- Homes are sitting longer and not just because of mortgage rates
- Former California indie brokerage Lyon rebrands to Windermere
- Buyers need an income that starts with a 3 to live in this pricey city
- Zillow economist identifies 11 cities primed for real estate investors
More from sale pricesMore posts in sale prices »
More from san diegoMore posts in san diego »
- Associations: Want to add value, relevance? Raise the bar on events
- Does the Compass-Anywhere deal set the stage for a private listings culture clash?
- Why Flyhomes is quitting the real estate brokerage business
- The No. 1 secret to not using ‘salesy’ scripts: Now Streaming
- AI isn’t here to replace agents. It’s here to make you faster, better
More from SelectMore posts in Select »
- The death of old-school SEO, and what it means for real estate
- Credit bureaus slam plan to cut them out of FICO score pricing
- Forget private marketplaces, Colorado brokers launch full-transparency offensive
- Cloze’s MAIA is smart, task-driven and enterprise-ready: Tech Review
- Lesson Learned: Luxury isn’t price, it’s experience
More from single-family homesMore posts in single-family homes »
- ‘Not a shift, a transition,’ 2 reports say of homebuying market
- New-home sales declined in July but beat analyst expectations
- NAR sees existing-home sales rise ‘ever so slightly’ in July
- Fannie Mae dials back sales expectations by 220K homes
- ‘Construction is in a funk’: Homebuilding improves, but inventory issues remain
More from townhousesMore posts in townhouses »
- Ryan Serhant and wife team up as SERHANT. becomes family firm
- Condo sales fall to 10-year low amid surge in insurance costs, HOA fees
- Cobble Hill townhouse lands $13M sale record — sorry, no parking
- Bigger is better: Square footage is the No. 1 amenity for luxury buyers
- Online searches for single-family homes hits 4-year high: Redfin
More from virginia beachMore posts in virginia beach »
- This credit union has been sending leads to Anywhere for 36 years
- The Agency takes on Virginia Beach as newest franchise
- Annual apartment rent growth, occupancy hit new highs in July
- Investor home purchases exceed pre-pandemic levels, hit record high
- RealScout launches its 15th Buyer Graph in Virginia Beach
Be First to Comment