Buying a Condo in 2025

·30 min·2 clips

Mabel Guzman reveals how condos offer entry-level prices, letting buyers into communities they couldn't otherwise afford.

Stephen Gaskway hosts this episode focused on condominium purchasing as an affordable entry into homeownership. The show features insights from Realtor Mabel Guzman, attorney Nishad Khan, and economist Nadia Evangelou. They examine the condo market's current conditions and unique ownership structure. Altos Research President Mike Simonson notes competing economic forces of mortgage rates versus recession fears influencing buyer demand. A Redfin survey found 20% of homebuyers plan to sell stocks for a down payment, but falling portfolios may delay purchases. The Fannie Mae Home Purchase Sentiment Index hit a yearly low, with nearly one-third of respondents fearing job loss. National Association of Homebuilders CEO Jim Tobin states tariffs on materials from China, Canada, and Mexico add thousands to construction costs. Mabel Guzman explains Chicago condo buyers prioritize a lifestyle connected to culture, the lake, and walkability. She describes treating each high-rise floor as a residential block where common areas' cleanliness and uniformity matter. Guzman states condos offer an entry-level price point, with options like studios or one-bedrooms unavailable in single-family markets. Appreciation depends on location, view, floor, and the health of the condo association's reserves and rental restrictions. Attorney Nishad Khan clarifies condo ownership legally includes only the interior space and an undivided interest in common elements like lobbies and pools. He emphasizes the importance of reviewing association meeting minutes to identify upcoming repairs or financial issues. Khan notes about 20% of Americans own condos, which help maximize density in urban areas. Buyers typically have a contractual contingency period to review governing documents and financials before committing. Economist Nadia Evangelou reports February saw a 10% monthly decline in condo and co-op sales, contrasting with single-family home growth. The median condo price rose 3.5% year-over-year to $355,100. Inventory is less tight in the condo market, with a 4.8-month supply compared to 3.4 months for single-family homes. Evangelou expects condo sales activity to pick up seasonally by June. The episode maintains an educational and conversational tone, blending expert interviews with practical advice. It features a structured "Hot or Not" segment on design trends, highlighting the popularity of ranch-style homes and accessory dwelling units. Listeners interested in urban living, first-time home buying, or understanding condo finances and regulations would find this valuable. Those seeking guidance specifically on single-family homes or market speculation might find the focus too narrow.

As heard by us

A plainspoken condo primer for buyers weighing high prices against market nerves.

Buying a condo gets framed as a practical answer for people shut out by high home prices, and the market worries around stocks, mortgage rates, and recession fears give it some real-world pressure.

Read the full review in PlayNext →

Why you'd press play

You need a clearer way to judge whether a condo could be the answer when home prices feel out of reach.

Read the full recommendation in PlayNext →

Listen to the show on

Apple Podcasts Spotify

Play clips from this episode More from Real Estate Today