More Homes Selling Below Asking Price

Housing Market Update
More Homes Selling Below Asking Price: What Today’s Market Means for Buyers and Sellers
The housing market is cooling off — and that’s not necessarily a bad thing. According to recent data from Redfin, only about one in four homes (25.3%) sold above their final list price in September. That’s the lowest September level in six years and a noticeable shift from 2024, when nearly 29% of homes were selling above asking.
Even more telling, the average sale-to-list ratio — how close homes sell to their asking price — dropped to 98.6%, meaning the typical home sold for 1.4% less than the final list price. Homes also took longer to sell, sitting on the market for an average of 50 days, the slowest pace for September since 2016.
Why the Market Is Slowing
Rising mortgage rates, inflation concerns, and general economic uncertainty are keeping many buyers cautious. Meanwhile, inventory has grown — with 36.7% more home sellers than buyers, one of the largest gaps on record.
That’s giving active buyers more breathing room to shop around and negotiate. For sellers, however, it means pricing right is critical. As Redfin Premier Agent Roze Swartz put it,
“Sellers can’t be picky on price—if they don’t have the lowest price on the market, they’re not even going to get showings.”
Prices and Listings at a Glance
While homes are taking longer to sell, prices are still holding strong — the median sale price in September was $435,545, up 1.7% from a year ago and the highest September on record.
At the same time, active listings fell slightly month-over-month but remain 8% higher than last year, keeping the market competitive yet more balanced than before.
What This Means for You
For Buyers:
Now’s your moment to negotiate. With fewer bidding wars and longer market times, you have leverage to request seller concessions, repairs, or closing cost credits.
For Sellers:
If you’re thinking about selling, pricing smart from the start is more important than ever. A home that’s slightly underpriced can attract more interest, shorten time on market, and often net you a stronger final offer.
The Bottom Line
This market shift isn’t a crash — it’s a correction toward balance. Buyers have more choices, and sellers need to be strategic. It’s a more normal market — one where experience and local insight truly matter.
Let’s Talk Strategy
Whether you’re planning to buy your first home, upgrade, or sell while the market’s still strong, I can help you navigate today’s conditions with confidence.
Data highlights referenced from Redfin’s September market indicators.