$\"Condos$ \n

Not every homebuyer wants the biggest house on the block. Some want something simpler, more affordable, and easier to maintain, especially in a market where every dollar counts. That\u2019s where condos come in.<\/p>\n

For first-time buyers, they can be a smart way to get into homeownership without stretching your budget. For downsizers, they offer less space to maintain with the flexibility to stay in a great location.<\/p>\n

And right now, condos are one of the most buyer-friendly parts of the market.<\/strong><\/p>\n

Condo Inventory Is Up, And That Means More Choice<\/strong><\/h4>\n
According to the National Association of Realtors<\/em> (NAR), there are 194,000<\/strong><\/a> condos for sale<\/strong> right now. That\u2019s the second highest amount we\u2019ve seen in the last three years (see graph below<\/em>):<\/p>\n
$\"a$ <\/a><\/p>\n
Just remember, this is the national figure. The exact number is going to vary based on where you\u2019re looking to buy. But, generally speaking, you have more options and less competition.<\/p>\n
You\u2019re not stuck waiting for something to pop up or rushing into an offer just to beat someone else to it. You\u2019ve got plenty to choose from. And if you\u2019re particular about layout, location, or amenities, this is your chance to be selective.<\/p>\n
That\u2019s a big shift from the market frenzy of just a few years ago. Compared to early\u00a02022, we\u2019ve got nearly double the condos available now. That gives you more breathing room to find the right fit.<\/p>\n
Prices Are Cooling, and Buyers Hold More Negotiating Power<\/strong><\/h4>\n
And since there are more for sale, many sellers are more open to negotiating right now. So, you may be able to get a better price. As Redfin<\/em> explains:<\/p>\n
\u201c. . . 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.\u201d<\/em><\/p><\/blockquote>\n
Condo prices are starting to ease in many markets. According to Intercontinental Exchange<\/em> (ICE), condo prices dipped <\/strong>1.3%<\/strong><\/a> in June<\/strong> compared to last year. And over half of the top 100 U.S. metros<\/strong> saw condo prices drop slightly year-over-year.<\/p>\n
Data from Redfin<\/em> shows what the recent dip in prices looks like (see graph below<\/em>):<\/p>\n
$\"a$ <\/a>That doesn\u2019t just help with affordability, it also shifts the power dynamic. Condo buyers in many markets are now in a position to negotiate on price and ask for concessions, like help with closing costs.<\/p>\n
Bottom Line<\/h3>\n
Condos aren\u2019t just a fallback option. In today\u2019s market, they\u2019re one of the most strategic ways to buy. With more options, softening prices, and more room to negotiate, now could be the right time to make your move.<\/p>\n
Could a condo check more boxes than you expected? Talk through your options with a local real estate agent and find out.<\/strong><\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
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