Redfin: 2025 Buyers Purchasing Below List Price Got Largest Discount Since 2012

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Redfin, Seattle, released a new report finding that the typical homebuyer who purchased a home below the list price in 2025 got a 7.9% discount–the largest since 2012.

In dollar terms, a homebuyer who paid less than the list price in 2025 got a $31,592 discount.

About one quarter–26.1%–of homebuyers who paid below the list price got a discount of 10% or more. That’s the highest share since 2012. And, 27.8% got a discount of 5-10%–the highest share since 2013.

That’s a large percentage of the homebuying population–62.2% in 2025 paid less than the list price–the highest share since 2019. And, only 22.8% paid more than the list price, the lowest share since 2019.

“Homebuyers in 2026 shouldn’t write off homes that are slightly above their budget because there’s a good chance they’ll get some sort of concession from the seller, be it a price cut, money toward closing costs or funds for repairs,” said Redin Senior Economist Asad Khan. “This marks a reversal from the pandemic homebuying frenzy, when house hunters were advised to search for homes below their budget because fierce bidding wars were causing properties to sell far above the asking price.”

Condo buyers in particular are seeing notable discounts. The typical condo buyer who scored a below-list-price deal in 2025 got an 8.1% discount. Single-family home buyers averaged a 7.9% discount and townhouse buyers saw an average of 6.5%.

Buyers who paid below list price in West Palm Beach, Fla., saw the biggest average discount, at 10.9%, followed by buyers in Detroit (10.3%), Fort Lauderdale (10.3%), Pittsburgh (9.9%) and Miami (9.8%.)

There were only four metros where the typical buyer paid more than the asking price in 2025–San Francisco (over by 3.8%), Newark, N.J. (over by 3.1%), San Jose, Calif., (over by 2.3%) and Oakland, Calif., (over by 1.3%).