Condos and Co-ops in Urban Areas

In urbanized areas where condos and co-ops predominate and the competition with single-family homes is not a factor, the economics change. Condo values become a factor of supply and demand, along with the health of the local economy. The usual dynamics of real estate such as location, price, terms, and condition apply more equally. In other words, when you buy a condo in these areas, you’re competing condo to condo, and the playing field is more level.