Last year proved to be a notably favorable one for homebuyers, with the typical purchaser buying below the list price receiving a 7.9 percent discount—the largest amount since 2012.

According to a Feb. 2 report from Redfin, this translated to about $31,592 off the 2025 median list price of $399,900. Among all homebuyers, the average discount was $15,196 or 3.8 percent.

Based on Redfin’s analysis of annual multiple listing service data, close to 62 percent of all homebuyers paid less than the asking price, which is the highest share since 2019. Nearly 23 percent paid over the list price, representing the lowest share since 2019. More than 15 percent paid the exact list price, a share that remains steady over the years.

“Homebuyers in 2026 shouldn’t write off homes that are slightly above their budget because there’s a good chance they’ll get some sort of concession from the seller, be it a price cut, money toward closing costs or funds for repairs,” Redfin senior economist Asad Khan said in the report.

“This marks a reversal from the pandemic homebuying frenzy, when house hunters were advised to search for homes below their budget because fierce bidding wars were causing properties to sell far above the asking price.”

Khan attributed the discounts to the growing buyer’s market beginning to sweep across the nation. He noted there are a record 47 percent more home sellers than buyers now, which gives potential homeowners more options and negotiating power.

“Discounts have become increasingly common partly because homes have become increasingly tough to price, with market dynamics shifting rapidly and varying widely from place to place,” Khan added. “Housing demand remains strong in some areas, but is quickly softening in many others.”

In West Palm Beach, Florida, where the December 2025 median home price was $470,000, the average homebuyer received almost an 11 percent discount—the largest among the 50 most populous metro areas. Buyers in Florida’s Fort Lauderdale and those in Detroit, Michigan, saved just more than 10 percent off the list prices, while those in Miami and Pittsburgh, Pennsylvania, saved just under 10 percent.

Redfin reported that Florida builds more homes than any other state except Texas, which means buyers have a lot more from which to choose.

On the opposite side, Seattle buyers received only a 5.7 percent discount—the smallest among the country’s top 10 metros. Other locations with buyer discounts of less than 6 percent include Minneapolis, Las Vegas, and Virginia Beach.

Only four metro areas were devoid of homebuyer discounts. In San Francisco, the average homebuyer actually paid over the asking price by almost 4 percent. The City by the Bay garnered a median home price of close to $1.4 million in December 2025.

Additional metros where homebuyers paid more than the list price include Newark, New Jersey, at just more than 3 percent, as well as San Jose and Oakland, California, at 2.3 percent and 1.3 percent, respectively.

While single-family homebuyers were able to take advantage of record-breaking discounts, it was condo buyers who actually scored the largest discounts, with an average of 8.1 percent. Townhome buyers saved about 6.5 percent off the listing prices.

The report indicated that rising HOA fees and insurance costs have been plaguing the condo industry, particularly in Florida and other areas where inclement weather can wreak havoc on properties.

Among all condo buyers, the average discount was 4.8 percent, compared with 3.7 percent for single-family-home buyers and 3 percent for townhouse buyers.

Overall, 68.1 percent of condo buyers were able to pay less than the asking price last year, compared with 61.7 percent of single-family buyers and 60.4 percent of those purchasing townhomes.

The report concludes that the negotiation trend is likely to continue this year.

“Some sellers haven’t adjusted to the fact that demand is much slower than it was during the pandemic homebuying frenzy,” the report states.

As a result, sellers are either cutting their prices or delisting their properties in hopes of selling at a higher price later.