Urban Real Estate

Condo Values Catching Up To Homes

Condo Values Catching Up To Homes

Traditional wisdom has argued that single family homes always appreciate faster than condos, but new research indicates that gap may be closing.

Trulia surveyed the 100 largest metro areas between February of 2012 and 2017 and indicated that appreciation of condos nation-wide was faster than that of single family homes. Condo prices rose 38.4 percent over that period while houses appreciated 27.9 percent.

Chicago, however, bucked the national trend: condo values rose 23.3 percent while homes rose 25.5 percent.

Read more at the Chicago Tribune here.