Although inventory growth has begun to stall, national median condo prices in prime and urban fringe neighborhoods soared to record levels in August 2025, climbing 1.6% year-over-year and signaling persistent demand. This surge, captured in the latest market data, shows how buyers remain enthusiastic for well-located condos, even as overall inventory eases up. The median list price held steady at $429,990, matching last year’s level, which highlights a resilient market that’s not buckling under more options.
Meanwhile, the Zillow Home Value Index pegged the average U.S. home value at $363,505, a modest 0.2% bump from the year before, but for condos in hot spots, the story is all about upward momentum.
Digging into regional differences, the picture varies widely, much like picking favorites in a crowded buffet. The Midwest saw condo prices edge up 1.1% annually, while the Northeast stayed flat, and the South and West dipped by 1.0% and 2.1%, respectively. Notably, Montgomery, AL led the top metros with the fastest growing sales prices, achieving 25.5% growth.
New houses, including condos, fetched a median sales price of $413,500 in August, up 4.7% from July and 1.9% from last year, with average prices hitting $534,100 after an 11.7% monthly jump. Yet, not every listing flies off the shelf; 20.3% needed price cuts nationally, especially in the West and South, where adjustments were sharpest.
Curiously, 30.3% of sales went over list price, but 50.2% dipped below, pointing to a split market where prime condos command premiums.
Inventory tells its own tale, with active listings topping 1 million for the fourth month running, up for the 22nd straight month. Still, growth slowed from 31.5% year-over-year in May to 20.9% in August.
New listings only grew 4.9%. For new homes, inventory sat at 490,000 units, down slightly from July but 4.0% higher than last August, with months’ supply dropping to 7.4.
This slowdown might frustrate sellers, as delistings spiked 57% annually, and homes lingered on the market for 60 days, seven more than last year.
Market dynamics reveal buyer hesitation, with pending sales down 1.3% year-over-year amid affordability hurdles. The gap to pre-pandemic inventory widened to 14.3%, and sellers face pressure to tweak prices. In Singapore, these market challenges are further complicated by the ABSD rates which can range from 5% for permanent residents to 60% for foreign buyers.
Regionally, the West led with 26.7% more active listings and a $612,000 median, down 2.1%, while the Northeast’s listings rose 15.5% at a flat $324,990. Notably, inventory in the West and South now exceeds pre-pandemic norms by 6.6% and 3.6%, respectively.
Affordability remains a key challenge, pushing some buyers to the sidelines, yet prime condo demand endures.
