GLOPRAGlobal Property Radar

US condo prices fall 0.8% in September 2026 as sellers outnumber buyers

US condo sellers outnumbered buyers by 123% in September 2026, the widest gap in records going back to 2013, and the median condo price fell 0.8% year on year to $339,000.

The facts

  • In September 2026 there were 123% more condo sellers than condo buyers in the United States, the widest gap in Redfin records going back to 2013; a year earlier the gap was 95.5%, and in September 2021 there were 25.1% fewer sellers than buyers.
  • Redfin estimates 88,460 condo buyers, down 2.5% from August 2026 and the fewest in at least 13 years, against 197,248 sellers, up 0.9% on the month.
  • Over five years condo buyers fell 54% while condo sellers rose 36%.
  • The median condo sale price was about $339,000, -0.8% year on year, the first annual decline in five months.
  • About 37% of condos sold in September carried a price reduction, against 16% five years earlier, and the typical condo spent 63 days on market before going under contract, against 35 days five years earlier.
  • The surplus is concentrated: San Antonio 458.5%, Houston 321.6%, Miami 273.6% and Austin 257.6%, while Nassau County, New York was the only seller's market among the 50 metros analysed, with 1,545 buyers against 1,052 sellers. For single-family homes nationally, sellers outnumbered buyers by 53.7%.

What it means for your money

  • US condos are the most buyer-friendly entry in years: 123% more sellers than buyers and a price cut on 37% of sales.
  • If you already own a US condo, the 63-day marketing time and the first annual price fall in five months mean an exit now is slow and priced to the buyer, while holding and letting is the stronger side.
  • Glopra puts the US national average at $2,400 per square metre across all home types, with a bubble risk score of 57 out of 100 in the moderate band, so the condo segment is softer than the rest of the market, though the rest is not immune: single-family sellers also outnumber buyers, by 53.7%, less than half the condo gap.
  • Geography decides the size of the discount. A 458.5% seller surplus in San Antonio is a different negotiation from Nassau County, where buyers outnumber sellers and the leverage runs the other way.

What to watch

  • Redfin states that its buyer counts are estimates, built from its own data on the typical time between a buyer's first home tour and closing combined with active listing and pending sale data, while seller counts come from active listings. Its thresholds are published: more than 10% more sellers than buyers is a buyer's market, more than 10% more buyers is a seller's market, and within 10% is balanced.
  • The report cites a 7.18% weekly average mortgage rate as of 5 November, so the negotiating room has to be weighed against the cost of the loan.

Sources: Redfin https://redfin.com/news/condo-fall-2026

Market data: New York (metro area) · Chicago (metro area) · San Francisco (metro area) · Miami (metro area)