PR Newswire·Nov 9, 2026, 8:00 AM ET

Redfin Reports Condo Sellers Now Outnumber Buyers By More Than 2 to 1

Nationwide condo sellers outnumbered buyers by 123% in September 2026, the widest gap since 2013.
The number of condo buyers dropped to 88,460, the lowest level in 13 years, while sellers rose to 197,248.
Five years prior, there were 25.1% fewer sellers than buyers, but the buyer pool has since fallen 54% while sellers increased 36%.
Rising insurance premiums, HOA fees, special assessments, hurricane risks, & high mortgage rates are weighing heavily on condo ownership costs.
The national median condo sale price fell 0.8% to $339,000 in September, marking the first year-over-year decline in five months.
37% of condos sold in September had a price reduction, compared to 16% during the pandemic-era boom.
Condos spent an average of 63 days on the market before going under contract, up from 35 days five years ago.
Only three metros had more buyers than sellers: Nassau County, NY (the only seller's market), Newark, NJ, & Milwaukee, WI.
Texas had the most buyer-friendly markets, with San Antonio showing a 459% surplus of sellers over buyers.
San Francisco's condo market saw a 20% year-over-year price jump to nearly $1.2 million, driven by AI-related job growth.
About 9 of the 10 metros with the highest seller-to-buyer ratios are located in the Sun Belt region.
Single-family homes also saw a record low in buyers in September, with sellers outnumbering buyers by 53.7%.