Today’s Market Could Make Condos a Win

Not every buyer is looking for the biggest house on the block. Many want something more practical—simpler, affordable, and easier to maintain. In today’s market, where every dollar matters, condos check those boxes.

For first-time buyers, a condo can be a smart entry point into homeownership without pushing your budget too far. For downsizers, it means less upkeep while still enjoying a great location.

And right now, condos are one of the most buyer-friendly options available.

Condo Inventory Is Growing—Giving Buyers More Choice

The National Association of Realtors (NAR) reports there are currently 194,000 condos for sale nationwide—the second-highest level in the past three years (see graph below).

Keep in mind, those numbers reflect the national picture. The exact supply will vary depending on where you’re shopping. But overall, buyers today have more choices and less pressure than in recent years.

Instead of waiting endlessly for something to hit the market—or rushing into a quick offer just to outbid someone else—you now have options. If you’re focused on a certain layout, location, or set of amenities, this is your moment to be selective.

That’s a major change from the market frenzy just a few years back. Compared to early 2022, condo inventory has nearly doubled. That shift gives buyers more breathing room and a real opportunity to find the right fit.

Prices Are Cooling, and Buyers Have More Leverage

With more condos available, sellers are becoming more open to negotiations. That could mean price flexibility, seller-paid concessions, or both. As Redfin notes:

“In many cities, condo buyers may be able to find sellers who are willing to give concessions and/or accept less than their asking price.”

Condo prices are already showing signs of easing. According to Intercontinental Exchange (ICE), they fell 1.3% year-over-year in June, with over half of the 100 largest U.S. metros recording slight price drops. Recent data from Redfin highlights this cooling trend (see graph below).

This isn’t just about affordability—it’s also changing the balance of power. In many markets, condo buyers can negotiate more aggressively on price and request concessions, such as help with closing costs.

Bottom Line

Condos aren’t simply a backup plan—they’re becoming one of the most strategic paths to homeownership in today’s market. With rising inventory, easing prices, and more negotiating power in buyers’ hands, the timing may be better than you think to make a move.

The real question is: could a condo actually check off more boxes than you expected? The best way to find out is by connecting with a trusted local real estate agent who can walk you through the options and help you decide if a condo is the right fit for your goals.