More condos in US are selling below list price

 More condos sold for less than their original asking price based on recent data from Redfin.

Condos sold reach high level in February

Why you should care:

 Approximately 68.4% of condos were sold in February, the highest rate in five years, for less than their initial asking prices, representing a slight increase from 63.3% of these properties sold in 2024.

According to Redfin, the number of condos that sold for less than their list price in February was only 3.5 percentage points below February 2019 levels, while single-family homes and townhouses were 4.1 and 4.9 percentage points.

Where are condo sales the highest?

Dig deeper:

Condo listings in Orlando soared 30.7% year over year in February and Redfin noted that the typical condo that sold in the area had a "sale-to-original-list-price ratio" of 90.8%, meaning the property sold for nearly 10% less than its original asking price.

And in Denver, about 77% of condos sold for less than their original asking price in February, marking the biggest spike among U.S. cities, followed by Virginia Beach, Virginia and Charlotte, North Carolina. 

Townhomes and single-family homes see boost in sales

By the numbers:

Redfin explained in their report that the share of townhomes selling for below their original asking price also saw the highest growth in February in five years, soaring to 59.4% this year compared to 54.7% in 2024. 

Separately, single-family homes that sold for less than the list price hit the highest level for February in two years, spiking to 64.2% in 2025 compared to 61.2% last year. 

Redfin reported that despite the condo market slowing down because of insurance costs and HOA fees, an economist for the company stated in the report that the good news for consumers looking for a condo is that prices are dropping in some areas and sellers are willing to offer a deal for their property.