Buyers Gain the Upper Hand as Homes Stay on the Market

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According to a recent Redfin report, “the typical home that sold last month went for 1.4% less than its final list price—the biggest September discount in six years—as a slow housing market empowered buyers to negotiate.” This trend is reflected locally, too, as Orange County homes are lingering longer and sellers become increasingly open to offers below list price.

In fact, the typical home that sold spent 50 days on the market, marking the slowest September pace in nearly a decade. This slowdown gives buyers more breathing room and leverage to negotiate—something rarely seen during the competitive post-pandemic housing boom.

Why Homes Are Taking Longer to Sell

“Homebuyers have extremely high expectations,” said one Redfin agent. Many buyers still remember being preapproved for low 3% mortgage rates during the pandemic but now face higher rates and increased insurance and tax costs. As a result, sellers who price too high risk sitting on the market for months without offers.

This “tough pill to swallow,” as the report describes it, is prompting sellers to rethink strategy. Pricing competitively from the start—rather than making steep cuts later—has become the winning formula in today’s slower-paced market.

Home Prices Still Rising—But Buyers Hold the Power

Despite the softening, prices are holding firm. “The median home sale price rose 1.7% year over year to $435,545 in September—the biggest uptick in six months and the highest September level on record.” For Orange County homeowners, this underscores a key balance: while demand has cooled, property values remain strong.

However, even with record-high prices, “sellers in many markets are accepting offers for less than their list prices because buyers continue to have negotiating power.” That dynamic is playing out across Southern California, where buyers are increasingly patient and selective.

Mortgage Rates Ease, Boosting Confidence

Encouragingly, mortgage rates are trending downward. “Rates have been ticking down for most of 2025 and averaged 6.35% in September—the lowest level in a year.” As rates ease, more buyers are testing the market again, although many are waiting in hopes of an even better deal later this year.

What This Means for Orange County Buyers and Sellers

Orange County remains one of California’s most desirable places to live—but even this premium market is feeling the national cooling trend. Fewer bidding wars, more negotiation power, and slightly longer listing times mean both sides have opportunities: buyers can take their time, and sellers can attract serious offers by pricing strategically.

Bottomline

If you’re thinking about making a move in Orange County—whether buying your first home, upgrading, or listing your property—now’s the time to take advantage of the market’s shift. With expert guidance and local insight, Whitestone Real Estate can help you navigate this evolving landscape, ensuring your next move is both profitable and seamless.

Let’s connect today to explore your options in this changing market.

Reference: Katz, L. (2025, October 20). Homebuyers are scoring the biggest autumn discounts since 2019. Redfin.