Redfin Reports 68% of Condos Sold Below List Price in February—the Highest Share in 5 Years
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
The condo market has been slowing due to surging insurance costs and HOA fees, which have priced many buyers out. It has also become more common for townhouses and single-family homes to sell below list price as buyers gain negotiating power amid rising inventory and high housing costs. SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Roughly two-thirds (68.4%) of U.S. condos that sold in February sold for less than their original asking price, up from 63.3% a year earlier and the highest February level in five years, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.The share of townhouses selling for below their original asking price also hit the highest February level in five years, rising to 59.4% from 54.7% a year earlier—but that’s smaller than the uptick for condos. The share of single-family homes selling for less than list price hit the highest February level in two years, climbing to 64.2% from 61.2% a year earlier—also smaller tha
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