The 2025 housing market is like one extended jump scare. Rates continue to creep higher, buyers are pausing, and somehow condos have become ground zero. Nobody's looking to buy a mansion. The rest of us just want a peaceful place with good Wi-Fi, walls that don't ring out, and perhaps a functional dishwasher. But even that seems to be wishful thinking.
Big picture? It's a mess of sorts. Zillow's investor update tells us that listings are finally beginning to shoot up, but buyers are lagging behind. Everyone's holding back. Some are jaded. Others are just sitting back and watching the train wreck like it's a reality TV show.
Recall when condos were the budget backup? You couldn't afford a house, so you opted for something easy with an HOA to keep the lawn green. But 2025 came along and said "plot twist." Now everybody and their cousin is racing to grab the same little unit with questionable carpet and parking lot view balcony.
It's crazy. Some ads read like fever dreams. You open the door and there's 1970s-patterned wallpaper, no air conditioning, and an HOA charge larger than your phone bill. One unit charged $630/month for the pool that no one uses and a newsletter you didn't sign up for.
Suppose you did find a good one. Buying it? Long process. Homes.com has an entire guide that makes it sound possible, but then you get into it, and you're like, "This is not a process, this is a personality test." There are pre-approvals, inspections, counter-offers, and maybe 47 things that you have to sign your name on.
And while you’re reviewing page three of the seller disclosures, someone else swoops in with an offer that's 15K over asking and zero contingencies. Every moment feels like a countdown.
Also, condos add extra layers. Lenders need to dig into the building’s finances, the HOA’s drama, and the percentage of rentals. You’re not just buying the unit. You’re buying into the whole building’s past decisions. Which, yikes.
Agents in 2025 are thriving or just holding on. Some are fueled by caffeine and crossed fingers. Others are reading reports such as the NAR Confidence Index like it's finals week. It indicates buyer traffic is weakening, but that doesn't make it easier. It only means fewer players, but the ones who are? Still hungry.
Good agents are out here texting listings at 1am, describing HOA reserve funds like it's Shark Tank, and acting like it's completely normal that "cozy" equals "no doors and a mini fridge."
If you've got one who hasn't yet lost their marbles? Hold on to them.
Honestly? Sure. But don't anticipate HGTV. There ain't no adorable montage and no ideal spot waiting with fairy lights and an en-suite closet. But if you remain realistic about your budget, remain patient, and don't get fooled by the aesthetic Instagram listings, you'll sooner or later find yourself somewhere decent.
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You're likely to lose a few bids. You'll wonder about your life decisions during the bidding war. But if you know what you want and are willing to wait out the craziness, the correct condo will appear.
It may be a little too expensive. It may have carpet in odd spots. But it'll belong to you.
Eventually.
