condos getting hit the hardest....

🏡 Condos getting hit the hardest....👀

Here in Denver Metro, 2 eye opening stats when comparing Condos to Single Family Homes. Stats are comparing January-June '24 vs '25.

✅ Expireds - expired off the market after not selling after a period of time

✔︎ Condos - 824 to 1,488 - UP 80%

✔︎ Single Family Homes - 495 to 852 - UP 72%

✅ Closed Sales - measures number of houses sold

✔︎ Condos - 2,895 to 2,576 - DOWN 11%

✔︎ Single Family Homes - 15,432 to 15,753 - UP 2%

🏢 These 2 stats tell me that buyers simply aren't shopping at the same pace as SFH's. Just the sheer number of expireds (almost doubled of what SFH's are) tells me even if sellers are lowering their prices, buyers still aren't moving on them. Many condo sellers are pulling off market and renting because of it.

📄 With ever increasing insurance costs and difficulty with coverage on condos, HOA dues are increasing at staggering rates, which in turn de-values and pushes condo prices down. 📉

We see that condos are typically the first to fall in value in down markets, and the last to appreciate in hot markets....❌