Condo Market Faces Imbalance: More Sellers Than Buyers

In August 2025, the U.S. condo market experienced a significant imbalance, with an estimated 72.3% more condo sellers than buyers, translating to 108,945 additional sellers nationwide. This marks the fifth consecutive month where the seller-buyer gap has exceeded 70%, indicating a strong buyer's market for condos, the most pronounced since records began in 2013, excluding the pandemic's impact in April 2020. The typical condo sold for $350,000 in August, reflecting a slight year-over-year decrease of 1%.

There Are 72% More Condo Sellers Than Buyers in the U.S.Report: 72% More Condo Sellers Than Buyers

Several factors have contributed to the current market conditions. Rising costs, including high homeowner association (HOA) fees and insurance premiums, have deterred potential buyers. Additionally, new regulations in states like Florida and California, implemented after incidents such as the 2021 Surfside condo collapse, have increased costs and complexities associated with condo ownership. These changes have led many prospective buyers to consider single-family homes or townhouses instead.

There Are 72% More Condo Sellers Than Buyers in the U.S.

In Florida, where approximately 1.5 million condos exist, five of the ten U.S. metropolitan areas with the largest surplus of condo sellers are located. The rising costs and new regulations, combined with heightened risks from natural disasters, have prompted many Florida condo owners to list their properties, further pushing buyers away.

There Are 72% More Condo Sellers Than Buyers in the U.S.Report: 72% More Condo Sellers Than Buyers

Despite the challenges, buyers currently hold significant negotiating power. Redfin economists suggest that for those who can afford it and plan to hold onto their condos for several years, now may be an opportune time to purchase. Asad Khan, a senior economist at Redfin, noted that buyers can negotiate prices and request concessions due to the surplus of listings. This situation has led some house hunters to shift their focus from single-family homes to condos as a more affordable option.

Report: 72% More Condo Sellers Than Buyers

Critics argue that the rising costs associated with condo ownership, including increasing HOA fees and potential special assessments, may outweigh the benefits of purchasing a condo. Some potential sellers are hesitant to enter the market, fearing they may have to sell at a loss or endure prolonged listing periods. The typical condo took 58 days to go under contract in August, the longest duration for that month in 12 years.

There Are 72% More Condo Sellers Than Buyers in the U.S.Report: 72% More Condo Sellers Than Buyers

The disparity between condo sellers and buyers is particularly pronounced in certain metropolitan areas. For instance, San Antonio reported nearly four times more sellers than buyers, while Miami and Tampa also exhibited significant seller surpluses. Conversely, Nassau County, NY, was noted for having a surplus of buyers over sellers, with 2,069 buyers compared to 1,079 sellers.

There Are 72% More Condo Sellers Than Buyers in the U.S.

The current condo market reflects a complex interplay of rising costs, regulatory changes, and shifting buyer preferences. While buyers may find opportunities in this buyer's market, the long-term implications of rising costs and potential market stagnation remain critical considerations for both buyers and sellers. As the market evolves, stakeholders must remain vigilant to navigate the challenges and opportunities presented in the condo sector.

There Are 72% More Condo Sellers Than Buyers in the U.S.Report: 72% More Condo Sellers Than Buyers