US Condo Sellers Struggle to Divest Properties, Outnumber Buyers by 72 Percent

Buyers also have more purchasing power when it comes to condos versus single-family homes.

A two-bedroom condo in a luxury building in Deerfield Beach, Fla., is listed for $1.05 million. Courtesy of LoKation Real Estate

High insurance costs and exorbitant homeowners association fees have potential condo buyers sitting on the sidelines, with sellers outnumbering buyers by just over 72 percent in August.

In an Oct. 6 report, online real estate platform Redfin said that nationwide, there were just under 260,000 condo sellers in August versus slightly more than 150,000 buyers—the fifth consecutive month that sellers outpaced buyers by more than 70 percent.