Just Over a Quarter of Homes Are Selling Above the Asking Price

This is a change from 2022, when 53% of homes were sold above the asking price. Now, the typical home is selling at a 7% discount
June 12, 2025
2 min read
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A majority of homes are selling for less than their asking price.

Sellers appear to be pricing homes higher than buyers are willing to pay for them. Recent data from housing market platform Redfin show that only 28% of homes across the nation are selling above the asking price. This is the lowest level since 2020, and one year ago, that figure was at 32% of all homes. Back in 2022, when the market favored sellers, 53% of homes sold above the asking price.

For the four weeks ending June 8, the median sale price was $397,000. This is a 7% discount from the median list price of roughly $425,950.

 

It’s still tough for many Americans to buy a home, as affordability remains a real challenge, but house hunters should know that sellers are accepting offers below asking price and giving concessions to get deals done. Buyers have negotiating power, especially if they’re flexible on timing or location, or if they’re willing to take on a fixer upper. Buyers should negotiate, and be prepared to move on to other homes if a seller is unwilling to meet them halfway; they may be able to get a better deal elsewhere.

- Chen Zhao, Redfin’s head of economics research

Buyers still aren't biting

With uncertainty in the housing market, many would-be buyers are sticking to the side lines. Even though the market is favoring buyers, monthly housing costs are still unaffordable to most households. Mortgage rates remain elevated near 7% and sales prices are up 1.6% year-over-year.

Stale listings have shifted the market in favor of buyers

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