Let’s be real—not everyone wants (or needs) the biggest house on the block. Some buyers crave simplicity: something stylish, manageable, and easier on the budget. That’s where condos shine.
For first-time buyers, condos can be your ticket into homeownership without maxing out your budget. For downsizers, they offer less to maintain but still keep you close to the places you love.
And here’s the kicker—condos are one of the most buyer-friendly parts of the market right now.
Inventory Is Up = More Choices for You
According to the National Association of Realtors (NAR), there are about 194,000 condos for sale across the country. That’s the second-highest level in the past three years (see graph below).
Sure, that’s a national number—and it looks different market by market—but the big picture is clear: you’ve got more options, and less competition.
Translation? You don’t have to pounce on the first condo that hits your feed just to beat out ten other buyers. Instead, you can be choosy about layout, location, and those all-important amenities.
That’s a big shift from the “blink and it’s gone” frenzy of early 2022. In fact, there are nearly double the condos available now compared to then. More breathing room = more power to find your perfect fit.
Prices Are Cooling—and Buyers Have the Upper Hand
More inventory also means sellers are getting realistic. Many are willing to negotiate, which could mean a better price for you. As Redfin puts it:
“. . . condo buyers in many cities may be able to find sellers who are willing to give concessions and/or sell for less than their asking price.”
That’s not just theory—data backs it up. According to Intercontinental Exchange (ICE), condo prices dipped 1.3% in June compared to last year, and over half of the top 100 U.S. metros saw slight year-over-year price drops.
Here’s what that dip looks like in action (see graph below).
So what does this mean for you? Not only can condos be more affordable, but you also hold more negotiating power. Think closing cost credits, price adjustments, or even seller-paid upgrades—things that were unheard of just a couple of years ago.
The Bottom Line
Condos aren’t just a “plan B” option—they’re one of the smartest plays in today’s market. With more inventory, softening prices, and sellers ready to deal, now could be your perfect window to make a move.
