Condos Could Be a Win for Today’s Buyers

Written By Jeremy Kilbourne

Not everyone wants (or needs) the biggest house on the block. Many buyers today are looking for something:

  • More affordable

  • Easier to maintain

  • In a great location

That’s where condos come in. Whether you’re a first-time buyer or looking to downsize, condos can be one of the most buyer-friendly options in today’s market.

1. More Inventory = More Choices

  • 194,000 condos are for sale right now (NAR).

  • That’s the 2nd highest in the last three years.

  • Compared to early 2022, inventory has nearly doubled.

This means:
✔️ Less competition
✔️ More layouts and locations to choose from
✔️ No need to rush into an offer

2. Prices Are Cooling

  • Condo prices are down 1.3% nationally (ICE).

  • Over half of major U.S. metros saw slight year-over-year price drops.

  • More sellers are willing to negotiate or offer concessions (like help with closing costs).

That gives buyers more leverage than we’ve seen in years.

Bottom Line

Condos aren’t just a fallback option—they’re a strategic way to buy in today’s market. With more options, softening prices, and negotiating power on your side, now could be the right time to make your move.

Finding ways to make your credit score better could help you get a lower mortgage rate. When you’re ready to get the process started, let’s connect.

Jeremy Kilbourne

Jeremy is Arch Mortgage North’s Lead Loan Officer. Bringing experience, compassion and creativity to the mortgage lending process, Jeremy loves helping clients achieve their home ownership goals.

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