Seller concessions are rising, but buyer leverage is still a neighborhood-by-neighborhood story

What counts as a seller concession (and why it matters now)

A seller concession is any seller-paid incentive that reduces a buyer’s out-of-pocket cost or monthly payment without necessarily changing the headline price. The most common forms are credits for closing costs, repair allowances, and mortgage-rate buydowns. In today’s rate environment, a concession can sometimes move the affordability needle more than a small price reduction.

The catch: concessions aren’t uniform. They vary by region, price tier, and property condition—so comparing deals requires looking at the *net* cost to the buyer, not just the list price.

The national picture: more sellers than buyers, more deal sweeteners

Redfin’s August data shows concessions are becoming a normal part of transactions again. Nationwide, 44.7% of home sales in August included a concession, up year over year and the highest share for that month in Redfin’s records [redfin.com].

Redfin also found that 15.8% of August sales paired a concession with a price drop—effectively a “double discount” for buyers who have options and are willing to negotiate [redfin.com].

That aligns with Redfin’s separate buyers-vs-sellers estimates: sellers outnumbered buyers by 57.9% in August, the biggest gap Redfin has recorded, driven by a surge in listings and stagnant demand [redfin.com]. When that gap opens, leverage usually shifts toward buyers—especially on homes that need work or are priced aspirationally.

Mortgage rates remain a major constraint on demand. Freddie Mac’s Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage averaged 6.95% as of 2026-09-17 [freddiemac.com]. Higher rates shrink purchasing power, which can push sellers toward credits and buydowns to keep monthly payments in reach.

Why some places still feel like 2021: supply constraints and concentrated demand

Even with a more buyer-friendly national backdrop, some pockets remain seller-leaning because listings are still scarce relative to demand. A Philadelphia-area example: The Inquirer reports, citing a Redfin analysis, that Montgomery, Chester, and Bucks Counties were one of only five seller’s markets among the 49 most-populous U.S. markets Redfin analyzed in August, with about 5,800 sellers and nearly 7,300 buyers [inquirer.com].

This is the main reason headlines can feel contradictory. If your submarket has new listings coming in slowly—or a steady stream of motivated buyers competing for a narrow band of homes—concessions may be less common and bidding dynamics can stay intense.

A metro can be two markets: divergence by price tier

Local data can also split by price point. In the Washington, D.C. region, Bright MLS data cited by The Washington Post shows the under-$450,000 segment saw a sales decline year-to-date through July, while homes priced at $750,000+ saw higher sales and price gains, including a year-over-year increase for the highest-price cohort [washingtonpost.com].

The practical implication: “Is it a buyer’s market?” is the wrong first question. The better first question is: *Which segment is moving, and which is sitting?*

Practical playbook for buyers and sellers heading into fall

**For buyers:**

• Ask for concessions early and tie them to clear items (repairs, credits, or a rate buydown).
• Use recent comparable sales in the same price tier—don’t rely on metro-wide averages.
• If a home has lingered, treat that as leverage for either a price reduction, a credit, or both.

**For sellers:**

• If showings are slow, adjust quickly: either price to the market or offer a clean, easy-to-understand credit.
• Pre-inspection and basic repairs can reduce buyer requests later and keep the deal from renegotiating.
• Track your segment weekly (new listings, price drops, days on market) to decide whether you’re competing on price, terms, or both.

Bottom line: leverage is shifting, but not evenly. National data supports more negotiation, while local supply-and-demand still determines who has the upper hand on any given street.