This is a YouTube video titled "🏢 Condos becoming Attractive Again 🏢" featuring Derek McGowan discussing real estate market trends as of July 2021. Derek explains how condos are gaining popularity again post-COVID due to their amenities and relative affordability compared to single-family homes, highlighting market dynamics such as reduced days on market and pricing trends.
Condos are starting to heat up. So initially, during COVID people wanted the aspect of a single family home. They wanted the space for their kids and their family. Now with the vaccine, they're a little bit more hip to moving back into a condo situation. And they like the amenities of the pool, the gym, that kind of thing. However, you kind of have to jump on it now because they're starting to heat up. So condos are only staying on the market for about 22 days, as opposed to 43 days last year at 42% are going over list price. So this is a segment that will be heating up, but you can still get a condo on average for 304 grand, where the average single family home is 380. So big affordability there. Something you might want to think about.
