The total value of homes currently listed for sale across the U.S. has reached $698 billion—a new record since Redfin began tracking this data in 2012.
There’s a total of $698 billion worth of homes for sale in the US, up 20.3% from a year ago and the highest dollar amount ever
6/2/2025
According to a report released Monday by the real estate platform, the combined worth of active listings has surged by 20.3% compared to the same time last year.
Redfin arrived at this figure by summing the asking prices of all homes actively listed at the end of each month.
This all-time high is being driven by three key trends: a larger supply of homes on the market, decreased buyer demand, and rising sale prices.
1. More Homes for Sale: As of April 2025, nationwide housing inventory climbed 16.7% year over year, meaning more homes are available for purchase than in previous years.
2. Weaker Demand: Homes are sitting longer before selling. In April 2025, the median time to go under contract rose to 40 days—five days longer than a year ago. Redfin agents report that many prospective buyers are pulling back amid soaring monthly housing payments and broader economic uncertainty.
3. Rising Prices: Home-sale prices were up 1.4% year over year in April 2025, adding to the overall dollar value of homes on the market.
Redfin’s analysis also shows a major gap between sellers and buyers. At present, there are about 500,000 more people trying to sell homes than there are active buyers—helping explain the nearly $700 billion in unsold listings.
Another contributing factor is the increase in “stale inventory.” In April 2025, 44% of homes on the market had been listed for 60 days or more. That’s up from 42.1% a year earlier and marks the highest April share since the early months of the COVID-19 pandemic in 2020.
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