Nearly two-thirds of all homebuyers received discounts last year, the most since 2019. Those buyers enjoyed the largest markdowns in more than a decade. According to Redfin, the typical buyer who purchased below the list price saved 7.9%, the largest discount since 2012, while one in four buyers got 10% or more off the asking price, the highest share in 13 years.
About 28% received discounts of 5–10%, the highest since 2013, while the largest group (46.1%) received 0–5% off, the lowest share since 2012. In dollar terms, the typical discount for buyers paying below list price was $31,592, based on a median original list price of about $400,000. Across all homebuyers, the average discount was $15,196 or 3.8%.
By comparison, 22.8% of buyers paid more than the list price, making up the lowest share since 2019, while about one in six buyers paid exactly the list price, a figure that has remained relatively steady, Redfin said.
The trend reflects a strong buyer's market, with nearly 47% more home sellers than buyers, giving buyers negotiating leverage. Many remain on the sidelines due to high mortgage rates and elevated home prices, while sellers adjust expectations after the market cooled from its pandemic peak.
"Homebuyers in 2026 shouldn't write off homes slightly above their budget because there's a good chance they'll get concessions — be it a price cut, money toward closing costs, or funds for repairs," said Redfin senior economist Asad Khan.
"This marks a reversal from the pandemic frenzy, when bidding wars drove properties far above asking."
Condo buyers are seeing the largest markdowns, with those paying below list price scoring an 8.1% discount, compared with 7.9% for single-family homes and 6.5% for townhouses. Last year was the first since 2014 in which condos sold at a larger discount than single-family homes. Overall, 68.1% of condo buyers paid below the list price, compared with 61.7% of single-family buyers and 60.4% of townhouse buyers.
Regional variations are notable. West Palm Beach buyers received the largest discounts – 10.9% off list price – followed by Detroit and Fort Lauderdale (both 10.3%), Pittsburgh (9.9%) and Miami (9.8%). Seattle buyers saw the smallest typical discount among the 50 largest metros at 5.7%, followed by Washington, D.C., Minneapolis, Las Vegas (all 5.8%) and Virginia Beach (5.9%).
Only four metros saw buyers pay above the asking price. San Francisco led with a 3.8% premium, followed by Newark (3.1%), San Jose (2.3%) and Oakland (1.3%).
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