Mumbai Home Sales Hit a Nine Month High: What the Budget Split and Unsold Stock Mean for Buyers

Between July and September 2026, Mumbai buyers bought 25,449 homes, the city's highest quarterly sales since 2018, according to Knight Frank India. Over the full nine months of the year, sales reached 72,804 units. But the detail a first time buyer in Thane, Mira Road or Kalyan should notice is lower down the report: homes priced below 50 lakh rupees still made up 36 percent of all sales, even as that band shrank 6 percent and every band from 1 crore to 50 crore grew.

This guide breaks down what the latest data says about Mumbai's market, how it differs from the southern cities, and how a buyer can use it without trying to time anything.

The short answer. Mumbai sold 72,804 homes in January to September 2026, up 1 percent and its best nine months since 2018, while launches rose 13 percent to 72,673 units and unsold stock fell 2 percent to about 155,473 homes. Sales below 50 lakh fell 6 percent to 26,136, while the 1 to 2 crore and 2 to 5 crore bands grew 9 and 11 percent. The trade-off: Mumbai remains, in Knight Frank's description, the country's largest affordable housing market, so choice exists at every budget, but it also carries more unsold stock relative to sales than a city like Chennai, which makes project level checks more important.

What did Knight Frank report for Mumbai?

The figures come from Knight Frank India's nine month residential update, reported by IANS on 5 October 2026 and by The Hans India on 10 October 2026. Sales for January to September 2026 were 72,804 units, up 1 percent, the highest for that period since 2018.

Quarterly sales climbed through the year, from 23,185 units in the first quarter to 25,449 in the third, the highest quarterly level since 2018. By subtraction, the second quarter came to about 24,170 units. Launches over the nine months rose 13 percent to 72,673 units, and unsold inventory fell 2 percent year on year to about 155,473 units.

Mumbai accounted for 28 percent of the 258,238 homes sold and 26 percent of the 279,899 units launched across India's eight major markets in the period. Bengaluru, the next largest market, sold 43,140 homes over the same nine months, up 5 percent, according to Outlook Money's report on the national data. Gulam Zia of Knight Frank India was reported as saying the market's resilience is increasingly being driven by demand for higher value homes, even as Mumbai remains the country's largest affordable housing market.

One caution on scope: neither report defines whether Mumbai here means the city alone or the wider metropolitan region. Treat the figures as a broad market signal rather than a precise count for your suburb.

Is Mumbai running out of unsold homes?

No, but it is not piling them up either. Launches of 72,673 units over nine months almost exactly matched sales of 72,804, a gap of just 131 homes, and The Hans India report described launches as broadly in line with absorption. Unsold inventory still stood at about 155,473 units.

Knight Frank's quarters to sell measure for Mumbai was 6.4 quarters in the third quarter of 2026, down from 6.6 a year earlier. For comparison, Knight Frank put Chennai at 4.4 quarters and the eight city average at 6.1 in the same quarter, according to News Today's report on the Chennai data. In other words, Mumbai carries somewhat more unsold stock relative to its pace of sales than the average big city, though that ratio has eased over the year.

For a buyer, that is a reason to compare widely rather than a reason to rush or to wait. More stock in the market means more projects to weigh, including some that are already built. It also means taking care to confirm that the project you pick is progressing, since the citywide figures say nothing about any individual building.

A market with stock on hand also makes the choice between a ready home and an under construction one a live decision rather than a theoretical one. A ready home lets you inspect exactly what you are buying and move in sooner. An under construction home may cost less upfront and allow staged payments, but it carries delivery risk and a wait. Neither is right for everyone; the right answer depends on your rent, your timeline and how much uncertainty you can carry.

Who is buying in Mumbai, by budget?

The table below sets out the key numbers, including the budget bands most relevant to first time buyers.

Above that entry band, homes priced between 50 lakh and 1 crore fell 1 percent to 17,601 units, or 24 percent of sales. Together, homes under 1 crore made up about 60 percent of the nine month total. Above 1 crore, sales between 1 and 2 crore rose 9 percent to 16,296 units, and the 2 to 5 crore band rose 11 percent to 9,861. Higher bands grew faster still: 16 percent for 5 to 10 crore, 40 percent for 10 to 20 crore and 35 percent for 20 to 50 crore. Mumbai accounted for 41 of the 53 homes priced above 50 crore sold across the eight markets.

So the city is not one market. For a buyer under 1 crore, the volume is still there, but it is in decline, and the growth in this data sits at higher price points.

If you are shopping below 50 lakh, three practical adjustments help. First, widen the map: Mumbai's market spans many suburbs and satellite towns, so a commute trade-off may buy you a better building. Second, consider resale as well as new launches, with the extra title and society checks that resale requires. Third, compare on RERA carpet area rather than on the advertised size, since that is the measure that tells you how much usable space you are paying for.

What about prices?

The IANS report said Mumbai's weighted average price rose 5 percent year on year in the third quarter of 2026. That is a citywide average across very different micro markets, from island city towers to suburban and peripheral projects, so it tells you little about the rate for a specific building.

What the 5 percent figure is useful for is refreshing an old budget. If you priced a home a year ago and are only now ready to book, assume today's quotes may be higher, and check before you fix your loan amount. Here is the arithmetic: on a home that cost 80 lakh rupees a year ago, a 5 percent rise adds 4 lakh rupees. If you finance 80 percent of that increase, your loan rises by 3.2 lakh rupees, adding roughly 2,700 rupees a month to the EMI at an illustrative 8.25 percent over 20 years.

Borrowing costs moved too. The RBI raised the repo rate by 25 basis points to 5.50 percent on 7 October 2026, according to the Monetary Policy Committee resolution, so test your EMI at a rate slightly above today's quote as well.

Registration costs in Mumbai add a further layer. Our explainer on the 1 percent metro cess and Mumbai registration costs walks through that part of the budget.

What should a Mumbai buyer do with this data?

Use it to set expectations, then do the checks that no market report can do for you:

1. Decide your all in budget first, including stamp duty, registration, metro cess and a cushion for a higher EMI.
2. Compare at least two projects in the same micro market on RERA carpet area.
3. Look up each project's registration on the MahaRERA portal before you visit a sales office.
4. Ask for a written, itemised cost sheet covering parking, society charges and any development charges.
5. For ready homes, ask to see the occupancy certificate before you pay a token amount.
6. For resale flats, check the society share certificate and the seller's dues before signing.
7. If your budget is under 50 lakh, look early and widely, since that band is shrinking in the data.

For the latest month by month view, start with our coverage of Mumbai's September 2026 property registrations, which this nine month update builds on.

What do buyers ask most about Mumbai's 2026 numbers?

How many homes were sold in Mumbai from January to September 2026?

Knight Frank India counted 72,804 home sales in Mumbai between January and September 2026, up 1 percent and the highest for that period since 2018. Third quarter sales of 25,449 units were the highest quarterly level since 2018. Launches over the nine months rose 13 percent to 72,673 units.

Is Mumbai still a market for homes under 1 crore?

Yes, by volume. Homes below 50 lakh made up 36 percent of nine month sales at 26,136 units, and the 50 lakh to 1 crore band made up 24 percent at 17,601 units. Both bands declined, however, while every band from 1 crore to 50 crore grew, so budget buyers should search early.

How much unsold stock is there in Mumbai?

Knight Frank put Mumbai's unsold inventory at about 155,473 units, down 2 percent year on year. Its quarters to sell measure was 6.4 in the third quarter of 2026, down from 6.6 a year earlier and above the eight city average of 6.1. Buyers have plenty to compare, so check each project individually.

Are Mumbai home prices rising in 2026?

Knight Frank's data, as reported by IANS, showed Mumbai's weighted average price up 5 percent year on year in the third quarter of 2026. That is a citywide average across very different micro markets, so compare current written quotes for the specific projects on your shortlist before fixing a budget.

Last updated 2026-10-16. PropNewz Team.