Redfin: Condo sellers outpace buyers by 123%, widest spread in 13 years

What Redfin's data shows

Condo supply is running well ahead of demand, with more than a 2 to 1 ratio of sellers to buyers. Redfin reports this seller surplus is the largest since it started collecting these figures 13 years ago, widening from a 95.5 percent gap the prior year.

Why buyers are stepping back

Ownership costs are climbing. Rising HOA dues, special assessments, and higher insurance bills are pushing up long run expenses. Higher mortgage rates are another drag, and that matters because condos often cater to first time buyers who already face the toughest affordability squeeze.

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The price impact and what it means for your portfolio

The wide buyer seller gap is pressuring prices, but not by much. Nationally, the median condo sold for 339,000 dollars in September, down 0.8 percent from a year earlier. The broader housing market shows a milder imbalance too, with single family home sellers outnumbering buyers by 54 percent. In plain English: the biggest discounts are not everywhere, but negotiating power has shifted toward condo buyers, which can influence timing and entry points for housing related bets in your portfolio.

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