The typical homebuyer who purchased a home for below the list price in 2025 got a 7.9 percent discount, the largest since 2012, according to a report from Redfin.
This is based on a Redfin analysis of annual MLS data comparing original list prices with final sale prices.
In dollar terms, the typical homebuyer who paid less than the list price in 2025 got a $31,592 discount, which Redfin calculated by applying the 7.9 percent average discount to last year’s median original list price of $399,900. Among all homebuyers, the average discount was $15,196, or 3.8 percent.
Nearly two-thirds (62.2 percent) of all homebuyers in 2025 paid less than the list price — the highest share since 2019. By comparison, 22.8 percent paid more than the list price —the lowest share since 2019. A little under 1 in 6 (15.6 percent) paid the exact list price — a share that has remained relatively steady over the years.
Homebuyers are more likely to get discounts than they were in recent years because it’s the strongest buyer’s market in recent history. There are a record 47 percent more home sellers than buyers, giving the buyers who are in the market options and negotiating power.
Buyers have retreated due to high mortgage rates and home prices, and some sellers haven’t adjusted to the fact that demand is much slower than it was during the pandemic homebuying frenzy. Consequently, many sellers are having to cut their prices, and some are delisting in hopes of selling at a higher price down the road.
“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,” Asad Khan, a senior economist with Redfin, said in a release. “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.”
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 said. Housing demand remains strong in some areas but is quickly softening in many others.
Roughly one-quarter (26.1 percent) of homebuyers who paid below the list price in 2025 got a discount of 10 percent or more — the highest share since 2012. A similar share (27.8 percent) scored a discount of 5-10 percent — the highest share since 2013. The lion’s share (46.1 percent) scored a discount of 0-5 percent, the lowest share since 2012.
“Some sellers are recognizing the market has changed and others are not,” Connie Durnal, a Redfin Premier real estate agent in Dallas. “I have one seller who overpaid for their home a few years ago and wants to list it at $950,000. The problem is recent comps call for a list price of $825,000. I have another seller who paid $400,000 for their home but was willing to list it at $385,000, which was a great strategy. Because the home was fairly priced, it got multiple offers and sold for $10,000 over the asking price.”
Many sellers have a certain price threshold they want to clear before they sell, according to Ben Ambroch, a Redfin Premier real estate agent in Milwaukee.
“A lot of sellers scored 2-3 percent mortgage rates during the pandemic and are only willing to sell and give up that rate if they can make enough money to cover the monthly payment on their next home,” Ambroch said.