Redfin defined stale stock as listings that spent at least 60 days on the marketplace and are still active as of the last day of the month.
“Sellers know it’s a purchaser’s market, however they still want to get as much cash as they can for their home. So they list on the luxury, expecting purchasers to work out down, which’s resulting in listings remaining on the market for a long time,” said Jason Wind, a Redfin Premier representative in New Orleans.
“There are still deals to be made, but 9 times out of 10, homes are selling for under their asking rate. However often, the rate is just too high, and sellers need to pull their home off the marketplace after six months approximately.”
Redfin’s metro‑level breakdown revealed the sharpest buildup in Florida.
Almost two‑thirds of listings in Miami were stale in February (62.6%), with San Antonio, Pittsburgh and West Palm Beach also above 55%.