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Minneapolis–St. Paul, Seattle and Buffalo recorded the largest year-over-year increases in active listings among the 50 largest U.S. metro areas in September 2026. Realtor.com reported gains of 31.2%, 28.5% and 28.0%, respectively. More homes on the market can give buyers additional choices, but these metro-level figures do not guarantee a discount or bargaining power on every property.
Where active listings grew most in September 2026
The rankings below compare each metro area’s active listings in September 2026 with September 2025. They describe metropolitan areas—not just the central cities—and reflect homes for sale, not completed sales.
| Metro area | Active-listing change, year over year | Active listings with price reductions | Median list-price change, year over year | New-listing change, year over year |
|---|---|---|---|---|
| Minneapolis–St. Paul–Bloomington, MN–WI | +31.2% in September 2026 versus September 2025 | 23.0% in September 2026 | −4.1% in September 2026 versus September 2025 | −1.1% in September 2026 versus September 2025 |
| Seattle–Tacoma–Bellevue, WA | +28.5% in September 2026 versus September 2025 | 25.0% in September 2026 | −2.4% in September 2026 versus September 2025 | −7.4% in September 2026 versus September 2025 |
| Buffalo–Cheektowaga, NY | +28.0% in September 2026 versus September 2025 | 13.0% in September 2026 | −2.7% in September 2026 versus September 2025 | +7.6% in September 2026 versus September 2025 |
These figures come from Realtor.com Economic Research’s September 2026 report. Price reductions and median list-price changes track asking-price behavior; they are not measures of final sale prices. A metro median can also conceal substantial differences among neighborhoods, home types and price ranges.
More homes for sale does not always mean more new homes arriving
Active inventory is a snapshot—the stock of properties currently listed for sale. New listings measure the flow of properties newly entering the market during a period. In September 2026, active inventory rose year over year in all three metros, but new listings declined in Minneapolis and Seattle. Buffalo was the exception, with new listings increasing 7.6% year over year.
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That distinction matters when interpreting the rankings: a larger active-listing count can reflect homes staying on the market longer as well as newly listed properties. Realtor.com’s September report also pointed to a comparison effect nationally: more homes went under contract in August and September 2025 as mortgage rates fell, which restrained inventory growth then, while rates had moved higher in 2026. Those factors help explain the broader trend but do not establish a complete cause for any one metro.
What the national numbers add to the picture
- Active inventory: Realtor.com counted 1,161,615 active listings nationwide in September 2026, up 5.4% from September 2025 and 1.9% from August 2026. The count was still 9.1% below the report’s pre-pandemic comparison level.
- Price reductions: 20.8% of active listings had price reductions in September 2026, the highest monthly share since October 2022, according to Realtor.com.
- Asking prices: The national median list price was $419,250 in September 2026, down 1.4% year over year.
- Metro breadth: 43 of the 50 largest metros had year-over-year inventory growth in September 2026, up from 37 in August 2026.
Realtor.com defines active listing count as the number of for-sale properties on the market, excluding pending listings where pending status is available. Its inventory series covers existing single-family homes, condos, townhomes, row homes and co-ops; new construction is excluded unless it is listed through an MLS that supplies data to Realtor.com. See the Realtor.com research data library for the definition.
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How buyers can use the numbers without overreading them
Compare the listing pool with fresh supply
Check whether new listings are rising alongside active inventory. A growing pool of active homes with fewer new listings, as in Minneapolis and Seattle in September 2026, is different from a market where fresh supply is also increasing, as in Buffalo. Neither pattern alone tells you how quickly a particular home will sell.
Look beyond the metro average
For a specific property, consider its neighborhood, condition, price band, time on market and whether similar homes are going pending. Active listings, price-cut shares and median list prices provide context, not a property-level forecast. The Realtor.com report notes that Seattle includes both homes that attract bidding wars and homes that remain listed for extended periods.
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Separate negotiating room from a guaranteed discount
A larger choice of listings may make it easier to compare options or walk away from a home that does not fit your needs. But a listing with no price reduction is not automatically overpriced, and a price reduction does not establish what a seller will accept. The reported figures are asking-price and listing metrics, not evidence of buyer outcomes.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the September figures are a snapshot
Realtor.com Economic Research published the September 2026 monthly report on September 30, 2026; Realtor.com News published its related story on October 2, 2026. Monthly housing data change, so these rankings should be read as a September 2026 snapshot rather than a current forecast. For the source report and its discussion of mortgage rates and local market conditions, see September 2026 Monthly Housing Trends: Price Cuts Hit 4-Year Highs as Mortgage Rates Top 7%.
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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